On August 28, 2025 Beijing time, Baozun E-commerce (BZUN.US, 09991) released its unaudited financial results for the second quarter ended June 30, 2025. The financial report shows that Baozun's Q2 2025 net revenue reached 2.6 billion, representing a 7% year-over-year increase. The e-commerce segment generated net revenue of 2.2 billion, up 3% year-over-year, while the brand management segment achieved net revenue of 400 million, up 35% year-over-year. Comprehensive product sales gross profit totaled 280 million, up 28% year-over-year, and adjusted group operating profit reached 59 million, surging 489% year-over-year.

In the second quarter, the e-commerce segment's product sales revenue was 600 million, up 3% year-over-year; online store operations revenue was 480 million, up 8% year-over-year; and digital marketing and technology services revenue was 580 million, up 12% year-over-year. During the second quarter, BAOZUN-W's e-commerce segment continued to advance its high-quality distribution strategy, with sustained improvement in revenue margins and contributions from new categories. Meanwhile, service capabilities continued to strengthen, with digital marketing and technology services achieving double-digit growth.