周四盘前，中国领先的在线品牌折扣零售商唯品会（VIPS）股价大跌6.97%，主要受到公司发布的2025年第二季度财报及第三季度业绩展望的影响。
根据唯品会最新公布的财报，公司第二季度净营收为258亿元人民币，同比下降4.09%。尽管商品交易总额（GMV）同比增长1.7%至514亿元，但公司的Non-GAAP净利润从去年同期的22亿元下滑至21亿元。这些数据显示，唯品会在当前竞争激烈的电商环境中面临增长压力。
更令投资者失望的是唯品会对第三季度的业绩预期。公司预计2025年第三季度净营收将在207亿至217亿元之间，同比增长仅为0%至5%。这一疲软的展望引发了市场对唯品会未来增长前景的担忧，导致股价大幅下挫。尽管唯品会在会员运营方面取得了一定进展，如超级VIP（SVIP）活跃用户数同比增长15%，但这似乎不足以抵消投资者对公司整体业绩的担忧。
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