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Company

Vipshop net profit surges by 20.8 pct in Q1

May 28, 2020


Abstract : China's major online discount retailer Vipshop Holdings Limited said that its non-GAAP net profit attributable to shareholders surged 20.8 percent year on year to 986.1 million yuan (about 139.3 million U.S. dollars) in the first quarter (Q1) of this year.

GUANGZHOU, May 28 (Xinhua) -- China's major online discount retailer Vipshop Holdings Limited said that its non-GAAP net profit attributable to shareholders surged 20.8 percent year on year to 986.1 million yuan (about 139.3 million U.S. dollars) in the first quarter (Q1) of this year.

Total net revenue reached 18.8 billion yuan, and gross merchandise volume stood at 28.9 billion yuan, Vipshop said in a financial statement Wednesday. The company has remained profitable for 30 consecutive quarters.

The novel coronavirus outbreak has had some impact on China's economy, but as life and production gradually return to normal, the company's business has been recovering since March, said Eric Shen, chairman and CEO of Vipshop. Enditem

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Keyword: Vipshop net profit discount retailer

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