Baozun Inc. released unaudited financial results for the three months ended September 30, 2025. Total net revenues reached RMB2,156.2 million, an increase of 4.8% compared to the same period last year. Product sales revenue rose 3.2% year-over-year to RMB808.3 million, while services revenue grew 5.8% to RMB1,347.9 million.

During this period, Baozun’s E-Commerce business recorded a 2.4% year-over-year revenue increase. Brand Management revenue advanced 19.8% to RMB396.0 million, aided by stronger sales from Gap and enhancements in merchandising and channel initiatives. Overall, the Company’s operating loss narrowed significantly, from RMB114.5 million to RMB25.6 million. Non-GAAP loss from operations was RMB10.8 million.

Net loss attributable to ordinary shareholders amounted to RMB107.1 million. Non-GAAP net loss attributable to ordinary shareholders stood at RMB40.2 million. The Company additionally recorded an adjusted operating profit of RMB28.1 million for its E-Commerce segment, up from a loss a year ago, and an improved adjusted operating loss of RMB38.7 million for Brand Management.

Baozun Inc. further announced that Director Satoshi Okada has resigned effective December 31, 2025, citing personal reasons. There were no disagreements with the board related to his departure. The board expressed gratitude for his contributions and confirmed there are no other matters to bring to the attention of shareholders.