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Table of Contents

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 001-37385

Baozun Inc.

(Exact name of Registrant as specified in its charter)

N/A

(Translation of Registrant’s name into English)

Cayman Islands

(Jurisdiction of incorporation or organization)

Building B, No. 1268 Wanrong Road

Shanghai 200436

The People’s Republic of China

(Address of principal executive offices)

Robin Bin Lu, Chief Financial Officer

Building B, No. 1268 Wanrong Road

Shanghai 200436

The People’s Republic of China

Telephone: +86 21 8026-6000

(Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act.

Title of each class

    

Trading Symbol(s)

    

Name of each exchange on which registered

American Depositary Shares, each representing
three
Class A Ordinary Shares, par value
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 001-37385

Baozun Inc.

(Exact name of Registrant as specified in its charter)

N/A

(Translation of Registrant’s name into English)

Cayman Islands

(Jurisdiction of incorporation or organization)

Building B, No. 1268 Wanrong Road

Shanghai 200436

The People’s Republic of China

(Address of principal executive offices)

Robin Bin Lu, Chief Financial Officer

Building B, No. 1268 Wanrong Road

Shanghai 200436

The People’s Republic of China

Telephone: +86 21 8026-6000

(Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act.

Title of each class

    

Trading Symbol(s)

    

Name of each exchange on which registered

American Depositary Shares, each representing
three
Class A Ordinary Shares, par value
US$0.0001 per share

BZUN

The Nasdaq Stock Market LLC
(The Nasdaq Global Select Market)

 

 

Class A Ordinary Shares, par value US$0.0001
per share*

The Nasdaq Stock Market LLC
(The Nasdaq Global Select Market)

* Not for trading, but only in connection with the listing on the Nasdaq Global Select Market of the American depositary shares.

Securities registered or to be registered pursuant to Section 12(g) of the Act.

None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

As of December 31, 2019, there were 188,219,667 ordinary shares issued and outstanding, par value US$0.0001 per share, being the sum of 174,918,929 Class A ordinary shares and 13,300,738

BZUN

The Nasdaq Stock Market LLC
(The Nasdaq Global Select Market)

 

 

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 001-37385

Baozun Inc.

(Exact name of Registrant as specified in its charter)

N/A

(Translation of Registrant’s name into English)

Cayman Islands

(Jurisdiction of incorporation or organization)

Building B, No. 1268 Wanrong Road

Shanghai 200436

The People’s Republic of China

(Address of principal executive offices)

Robin Bin Lu, Chief Financial Officer

Building B, No. 1268 Wanrong Road

Shanghai 200436

The People’s Republic of China

Telephone: +86 21 8026-6000

(Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act.

Title of each class

    

Trading Symbol(s)

    

Name of each exchange on which registered

American Depositary Shares, each representing
three
Class A Ordinary Shares, par value
US$0.0001 per share

BZUN

The Nasdaq Stock Market LLC
(The Nasdaq Global Select Market)

 

 

Class A Ordinary Shares, par value US$0.0001
per share*

The Nasdaq Stock Market LLC
(The Nasdaq Global Select Market)

* Not for trading, but only in connection with the listing on the Nasdaq Global Select Market of the American depositary shares.

Securities registered or to be registered pursuant to Section 12(g) of the Act.

None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

As of December 31, 2019, there were 188,219,667 ordinary shares issued and outstanding, par value US$0.0001 per share, being the sum of 174,918,929 Class A ordinary shares and 13,300,738per share*

The Nasdaq Stock Market LLC
(The Nasdaq Global Select Market)

* Not for trading, but only in connection with the listing on the Nasdaq Global Select Market of the American depositary shares.

Securities registered or to be registered pursuant to Section 12(g) of the Act.

None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

As of December 31, 2019, there were 188,219,667 ordinary shares issued and outstanding, par value 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Table of Contents

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 001-37385

Baozun Inc.

(Exact name of Registrant as specified in its charter)

N/A

(Translation of Registrant’s name into English)

Cayman Islands

(Jurisdiction of incorporation or organization)

Building B, No. 1268 Wanrong Road

Shanghai 200436

The People’s Republic of China

(Address of principal executive offices)

Robin Bin Lu, Chief Financial Officer

Building B, No. 1268 Wanrong Road

Shanghai 200436

The People’s Republic of China

Telephone: +86 21 8026-6000

(Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act.

Title of each class

    

Trading Symbol(s)

    

Name of each exchange on which registered

American Depositary Shares, each representing
three
Class A Ordinary Shares, par value
US$0.0001 per share

BZUN

The Nasdaq Stock Market LLC
(The Nasdaq Global Select Market)

 

 

Class A Ordinary Shares, par value US$0.0001
per share*

The Nasdaq Stock Market LLC
(The Nasdaq Global Select Market)

* Not for trading, but only in connection with the listing on the Nasdaq Global Select Market of the American depositary shares.

Securities registered or to be registered pursuant to Section 12(g) of the Act.

None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report.

As of December 31, 2019, there were 188,219,667 ordinary shares issued and outstanding, par value US$0.0001 per share, being the sum of 174,918,929 Class A ordinary shares and 13,300,738174,918,929 Class A ordinary shares and 13,300,738 Class B ordinary shares.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

  Yes No

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934.

 Yes No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 Yes  No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

 Yes  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer 

Non-accelerated filer

 

 

Emerging growth company

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP

International Financial Reporting

Other

 

Standards as issued by the International

 

 

Accounting Standards Board

 

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.

 Item 17 Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 Yes No

(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

 Yes No

TABLE OF CONTENTS

CERTAIN DEFINED TERMS

2

FORWARD-LOOKING STATEMENTS

3

PART I

4

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

4

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE

4

ITEM 3. KEY INFORMATION

4

ITEM 4. INFORMATION ON THE COMPANY

47

ITEM 4A. UNRESOLVED STAFF COMMENTS

74

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS

74

ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

94

ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

106

ITEM 8. FINANCIAL INFORMATION

108

ITEM 9. THE OFFER AND LISTING

109

ITEM 10. ADDITIONAL INFORMATION

110

ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

124

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

125

PART II

127

ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

127

ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

127

ITEM 15. CONTROLS AND PROCEDURES

128

ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT

130

ITEM 16B. CODE OF ETHICS

130

ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES

130

ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

131

ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

131

ITEM 16F. CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT

131

ITEM 16G. CORPORATE GOVERNANCE

131

ITEM 16H. MINE SAFETY DISCLOSURE

131

PART III

131

ITEM 17. FINANCIAL STATEMENTS

131

ITEM 18. FINANCIAL STATEMENTS

131

ITEM 19. EXHIBITS

131

CERTAIN DEFINED TERMS

Unless otherwise indicated or the context otherwise requires, references in this annual report to:

“ADRs” are to the American depositary receipts, which, if issued, evidence our ADSs;
“ADSs” are to our American depositary shares, each of which represents three Class A ordinary shares;
“Baozun,” “we,” “us,” “our company,” and “our,” are to Baozun Inc., a Cayman Islands exempted company, formerly known as Baozun Cayman Inc. and unless the context requires otherwise, includes its consolidated subsidiaries and variable interest entity;
“brand e-commerce” are to business-to-consumer (B2C) e-commerce conducted through official brand stores, official marketplace stores, or official stores on other channels;
“brand partners” are to companies for which we operate or have entered into agreements to operate official brand stores, official marketplace stores, or official stores on other channels under their brand names;
“China” and the “PRC” are to the People’s Republic of China, excluding, for the purpose of this annual report only, Taiwan, the Hong Kong Special Administrative Region and the Macau Special Administrative Region;
“Distribution GMV” are to the GMV under the distribution business model;
“GMV” are to gross merchandise volume, and when used in connection with our business, include (i) the full value of all purchases transacted and settled on the stores operated by us (including, prior to its closure in 2017, our Maikefeng marketplace but excluding stores for the operations of which we only charge fixed fees) and (ii) the full value of purchases for which consumers have placed orders and paid deposits on such stores and which have been settled offline. Our calculation of GMV includes value added tax and excludes (i) shipping charges, (ii) surcharges and other taxes, (iii) value of the goods that are returned and (iv) deposits for purchases that have not been settled;
“Non-distribution GMV” are to the GMV under the service fee business model and the consignment business model;
“O2O” are to online-to-offline and offline-to-online commerce;
“official brand stores” are to brands’ official online stores;
“official marketplace stores” are to brands’ flagship stores and authorized stores on third-party online marketplaces;
“RMB” and “Renminbi” are to the legal currency of China;
“ordinary shares” are to our Class A ordinary shares and Class B ordinary shares, par value US$0.0001 per share; and
“US$”, “U.S. dollars” or “dollars” are to the legal currency of the United States.

Solely for the convenience of the reader, certain RMB amounts have been translated into U.S. dollars at specified rates. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB were made at a rate of RMB6.9618 to US$1.00, the exchange rate as set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 31, 2019. As of April 24, 2020, the exchange rate for one U.S. dollar was RMB7.0813. We make no representation that the RMB or U.S. dollar amounts referred to herein could have been or could be converted to U.S. dollars or RMB, as the case may be, at any particular rate, or at all.

2

FORWARD-LOOKING STATEMENTS

Certain statements contained in this annual report on Form 20-F, including those statements contained under the captions “Item 4—Information on the Company” and “Item 5—Operating and Financial Review and Prospects” that are not statements of historical fact, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be generally identified by the use of terms such as “may,” “will,” “could,” “would,” “plans,” “intends,” “believes,” “expects,” “projects,” “estimates” or “anticipates,” the negatives of such terms, or comparable terms. In addition to the statements contained in this Form 20-F, we (or our directors or executive officers authorized to speak on our behalf) from time to time may make forward-looking statements, orally or in writing, regarding Baozun (including its subsidiaries and variable interest entity) and its business, including in press releases, oral presentations, filings under the Securities Act, the Exchange Act or securities laws of other countries, and filings with The Nasdaq Global Select Market or other stock exchanges.

You should not rely upon forward-looking statements as predictors of future events. Such forward-looking statements represent our judgment or expectations regarding the future, and are subject to risks and uncertainties that may cause actual events and our future results to be materially different than expected by us or indicated by such statements. Such risks and uncertainties include in particular (but are not limited to) the risks and uncertainties related to the following: The online retail industry may not grow at the rate projected by market data, or at all. Failure of this market to grow at the projected rate may have a material and adverse effect on our business and the market price of our ADSs. In addition, the rapidly changing nature of the online retail industry results in significant uncertainties for any projections or estimates relating to the growth prospects or future condition of our market. Furthermore, if any one or more of the assumptions underlying the market data are later found to be incorrect, actual results may differ from the projections based on these assumptions. See also the information under “Item 3. Key Information—D. Risk Factors” and elsewhere in this annual report for a more complete discussion of these risks, assumptions and uncertainties and for other risks and uncertainties. These risks, assumptions and uncertainties are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could harm our results. We undertake no obligation, and specifically decline any obligation, to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this annual report might not occur.

3

PART I

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

Not applicable.

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE

Not applicable.

ITEM 3. KEY INFORMATION

A.           Selected Financial Data

The selected consolidated financial data presented below as of and for the years ended December 31, 2015, 2016, 2017, 2018 and 2019 have been prepared in accordance with U.S. GAAP. Our selected consolidated statements of operations data for the three years ended December 31, 2017, 2018 and 2019 and selected consolidated balance sheet data as of December 31, 2018 and 2019 have been derived from our audited consolidated financial statements included elsewhere in this document. Our selected consolidated statements of operations data for the years ended December 31, 2015 and 2016, and selected consolidated balance sheet data as of December 31, 2015, 2016 and 2017 have been derived from our audited consolidated financial statements not included elsewhere in this document. The historical results are not necessarily indicative of results to be expected in any future period.

Selected Consolidated

For the year ended December 31,

Statements of

 

2015

 

2016

 

2017

 

2018

 

2019

Operations Data

    

RMB

    

RMB

    

RMB

    

RMB

    

RMB

    

US$

 

(in thousands, except for per share and per ADS data and number of shares)

Net revenues

 

  

 

  

 

  

 

  

 

  

 

  

Product sales

 

1,940,649

 

2,176,447

 

2,257,632

 

2,516,862

 

3,422,151

 

491,561

Services

 

657,794

 

1,213,828

 

1,891,176

 

2,876,175

 

3,856,041

 

553,886

Total net revenues

 

2,598,443

 

3,390,275

 

4,148,808

 

5,393,037

 

7,278,192

 

1,045,447

Operating expenses(1)

 

  

 

  

 

  

 

  

 

 

Cost of products

 

(1,735,820)

 

(1,921,856)

 

(1,917,467)

 

(2,034,852)

 

(2,774,342)

 

(398,509)

Fulfillment

 

(325,159)

 

(540,857)

 

(818,173)

 

(1,262,302)

 

(1,678,191)

 

(241,057)

Sales and marketing(2)

 

(403,519)

 

(658,819)

 

(910,843)

 

(1,338,970)

 

(1,815,642)

 

(260,801)

Technology and content

 

(59,946)

 

(95,638)

 

(140,689)

 

(268,973)

 

(392,951)

 

(56,444)

General and administrative

 

(73,678)

 

(88,274)

 

(116,554)

 

(154,845)

 

(215,660)

 

(30,978)

Other operating income (expense), net

 

8,130

 

5,235

 

11,250

 

22,678

 

(17,753)

 

(2,550)

Total operating expenses

 

(2,589,992)

 

(3,300,209)

 

(3,892,476)

 

(5,037,264)

 

(6,894,539)

 

(990,339)

Income from operations

 

8,451

 

90,066

 

256,332

 

355,773

 

383,653

 

55,108

Other income (expenses)

 

  

 

  

 

  

 

  

 

 

Interest income

 

8,834

 

11,869

 

13,350

 

8,017

 

42,614

 

6,121

Interest expense

 

 

 

(4,252)

 

(13,058)

 

(61,316)

 

(8,807)

Gain on disposal of investments

 

9,674

 

 

5,464

 

 

-

 

-

Impairment loss of investments

 

 

 

(6,227)

 

(9,021)

 

(9,021)

 

(1,296)

Exchange gain (loss)

 

(124)

 

320

 

(21)

 

(5,991)

 

(7,663)

 

(1,101)

Income before income tax and share of income (loss) in equity method investment

 

26,835

 

102,255

 

264,646

 

335,720

 

348,267

 

50,025

Income tax benefit (expense)(3)

 

6,022

 

(16,831)

 

(54,251)

 

(64,953)

 

(71,144)

 

(10,219)

Share of income (loss) in equity method investment

 

(10,236)

 

 

(1,265)

 

(996)

 

4,768

 

685

Net income

 

22,621

 

85,424

 

209,130

 

269,771

 

281,891

 

40,491

4

Selected Consolidated

For the year ended December 31,

Statements of

2015

2016

2017

2018

2019

Operations Data

    

RMB

    

RMB

    

RMB

    

RMB

    

RMB

    

US$

 

(in thousands, except for per share and per ADS data and number of shares)

Change in redemption value of convertible redeemable preferred shares

 

(25,332)

 

 

 

 

 

Net (income) loss attributable to noncontrolling interests

 

 

1,209

 

(264)

 

(59)

 

187

 

27

Net income attributable to redeemable noncontrolling interest

(781)

(112)

Net income (loss) attributable to ordinary shareholders of Baozun Inc.

 

(2,711)

 

86,633

 

208,866

 

269,712

 

281,297

 

40,406

Net income (loss) per share attributable to ordinary shareholders of Baozun Inc.

 

  

 

  

 

  

 

  

 

  

 

  

Basic

 

(0.03)

 

0.58

 

1.29

 

1.59

 

1.62

 

0.23

Selected Consolidated

For the year ended December 31,

Statements of

2015

2016

2017

2018

2019

Operations Data

    

RMB

    

RMB

    

RMB

    

RMB

    

RMB

    

US$

 

(in thousands, except for per share and per ADS data and number of shares)

Diluted

 

(0.03)

 

0.53

 

1.19

 

1.50

 

1.57

 

0.23

Net income (loss) per ADS attributable to ordinary shareholders of Baozun Inc.(4)

 

  

 

  

 

  

 

  

 

 

Basic

 

(0.08)

 

1.74

 

3.87

 

4.76

 

4.85

 

0.70

Diluted

 

(0.08)

 

1.59

 

3.56

 

4.51

 

4.72

 

0.68

Weighted average shares used in calculating net income (loss) per ordinary share

 

  

 

  

 

  

 

  

 

 

Basic

 

102,987,119

 

149,935,100

 

162,113,815

 

169,884,906

 

173,937,013

 

173,937,013

Diluted

 

102,987,119

 

163,926,674

 

176,115,049

 

179,327,029

 

178,932,010

 

178,932,010

Non-GAAP Financial Measures(5):

 

  

 

  

 

  

 

  

 

 

Non-GAAP income from operations

 

33,646

 

124,251

 

315,345

 

433,199

 

460,400

 

66,132

Non-GAAP net income

 

47,816

 

119,609

 

267,947

 

346,805

 

358,246

 

51,459

Non-GAAP net income attributable to ordinary shareholders of Baozun Inc.

 

22,484

 

120,818

 

267,395

 

346,170

 

357,076

 

51,290

Non-GAAP net income attributable to ordinary shareholders of Baozun Inc. per ADS:

 

  

 

  

 

  

 

  

 

 

Basic

 

0.65

 

2.42

 

4.95

 

6.11

 

6.16

 

0.88

Diluted

 

0.59

 

2.21

 

4.55

 

5.79

 

5.99

0.86

5

(1)Share-based compensation expenses are allocated in operating expenses items as follows: