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Vipshop Reports Unaudited Fourth Quarter and Full Year 2017 Financial Results
Fourth Quarter and Full Year 2017 Highlights
- Total net revenue for the fourth quarter of 2017 increased by 27.1% year over year to
RMB24.1 billion (US$3.7 billion ) fromRMB19.0 billion in the prior year period. Total net revenue for the full year of 2017 increased by 28.8% year over year toRMB72.9 billion (US$11.2 billion ) fromRMB56.6 billion in the prior year. - The number of active customers[1] for the full year of 2017 increased by 11% year over year to 57.8 million from 52.1 million in the prior year.
- Total orders[2] for the fourth quarter of 2017 increased by 27% year over year to 104.2 million from 82.0 million in the prior year period. Total orders for the full year of 2017 increased by 24% year over year to 335.0 million from 269.8 million in the prior year.
- Gross profit for the fourth quarter of 2017 increased by 17.3% year over year to
RMB5.2 billion (US$805.4 million ) fromRMB4.5 billion in the prior year period. Gross profit for the full year of 2017 increased by 19.8% year over year toRMB16.3 billion (US$2.5 billion ) fromRMB13.6 billion in the prior year. - Net income attributable to
Vipshop's shareholders for the fourth quarter of 2017 wasRMB673.2 million (US$103.5 million ), as compared withRMB767.8 million in the prior year period. Net income attributable toVipshop's shareholders for the full year of 2017 wasRMB1.9 billion (US$299.7 million ), as compared withRMB2.0 billion in the prior year. - Non-GAAP net income attributable to
Vipshop's shareholders[3] for the fourth quarter of 2017 wasRMB888.1 million (US$136.5 million ), as compared withRMB970.3 million in the prior year period. Non-GAAP net income attributable toVipshop's shareholders for the full year of 2017 wasRMB3.0 billion (US$457.3 million ), as compared withRMB2.9 billion in the prior year.
Mr.
Mr.
Recent Business Highlights
- In the fourth quarter of 2017,
Vipshop received strategic investment of approximatelyUS$863 million fromTencent andJD.com in consideration for newly issued Class A ordinary shares ofVipshop (the "Investment Shares") representing approximately 10% ofVipshop's total issued shares. As a result,Tencent andJD.com beneficially own, taking into account any existing holding, approximately 7% and 5.5%, respectively, ofVipshop's total issued shares. The Investment Shares are subject to a two-year lock-up period, andTencent andJD.com have the right to appoint a director and an observer, respectively, toVipshop's board of directors. In order to maintain director and board observer rights after the lock-up period,Tencent andJD.com have to increase their holdings ofVipshop's total shares issued to 12% and 8%, respectively, unless otherwise agreed to byVipshop . Concurrently with the strategic investment,Tencent ,JD.com andVipshop established strategic partnerships, through whichVipshop will have traffic access on WeChat Wallet,JD.com's main page, andJD.com's WeChat Discovery shopping portal. - In the fourth quarter of 2017,
Vipshop's average revenue per customer increased by 22% year over year, driven by the robust 22% year-over-year increase in average number of orders per customer. During the quarter, 84% of customers were repeat customers, up from 75% in the prior year period. Approximately 96% of orders were placed by repeat customers, up from 92% in the prior year period. For the full year of 2017, more than 71% of customers were repeat customers, up from 67% in the prior year, and 95% of orders were placed by repeat customers, up from 94% in the prior year. - In the fourth quarter of 2017,
Vipshop added a local warehouse in Quanzhou,China , which brings the Company's total number of local warehouses to fifteen as ofDecember 31, 2017 . In addition, the Company expanded its overseas warehousing space by adding new locations inItaly and theUnited Kingdom , bringing its total international warehousing capacity to approximately 53,000 square meters. As ofDecember 31, 2017 ,Vipshop has approximately 2.5 million square meters of total warehousing space, of which around 1.5 million square meters is owned by the Company. - During the fourth quarter of 2017,
Vipshop delivered approximately 99% of its orders through its in-house last mile delivery network, up from 91% in the prior year period. More than 77% of customer returns were handled directly byVipshop's in-house last mile delivery network, as compared to more than 60% in the same period in 2016. - As of
December 31, 2017 , close to one million customers enrolled in the Company's Super VIP Paid Membership Program. The average revenue per customer and shopping frequency of the program's paid members increased significantly year over year. - More than 3,600 brands participated in
Vipshop's anniversary sale onDecember 8, 2017 , representing a 122% increase fromDecember 8, 2016 , which is an endorsement of the strength of theVipshop platform and its value to brands. Vipshop recently added a number of popular domestic and international brands to its platform, such asVera Wang andJil Sander Navy .- On
January 25, 2018 ,Vipshop announced that it has become a sponsor and the exclusive Chinese e-commerce partner for London Fashion Week, one of the most influential fashion events worldwide. Through this sponsorship and partnership,Vipshop aims to introduce more trendy and authentic British brands to Chinese consumers via its powerful platform. At the same time, the Company intends to showcaseChina -inspired fashion concepts to a global audience. The two parties will officially launch the cooperation ceremony and hold a brand recruitment event onFebruary 16, 2018 . - During the fourth quarter of 2017, approximately 5.0 million customers used
Vipshop's Internet consumer financing services, representing a 107% year-over-year increase from 2.4 million users in the prior year period.
Fourth Quarter 2017 Financial Results
REVENUE
Total net revenue for the fourth quarter of 2017 increased by 27.1% year over year to
The number of active customers for the fourth quarter of 2017 increased by 4% year over year to 28.6 million from 27.5 million in the prior year period. The number of total orders for the fourth quarter of 2017 increased by 27% year over year to 104.2 million from 82.0 million in the prior year period.
GROSS PROFIT
Gross profit for the fourth quarter of 2017 increased by 17.3% to
OPERATING INCOME AND EXPENSES
Total operating expenses for the fourth quarter of 2017 were
- Fulfillment expenses for the fourth quarter of 2017 were
RMB2.1 billion (US$329.7 million ), as compared withRMB1.6 billion in the prior year period, primarily reflecting an increase in sales volume and number of orders fulfilled. As a percentage of total net revenue, fulfillment expenses for the fourth quarter of 2017 were 8.9% as compared with 8.7% in the prior year period. - Marketing expenses for the fourth quarter of 2017 were
RMB1.0 billion (US$156.5 million ), as compared withRMB920.0 million in the prior year period. As a percentage of total net revenue, marketing expenses for the fourth quarter of 2017 decreased to 4.2% from 4.8% in the prior year period. - Technology and content expenses for the fourth quarter of 2017 were
RMB486.1 million (US$74.7 million ), as compared withRMB470.9 million in the prior year period. As a percentage of total net revenue, technology and content expenses for the fourth quarter of 2017 decreased to 2.0% from 2.5% in the prior year period. - General and administrative expenses for the fourth quarter of 2017 were
RMB780.2 million (US$119.9 million ), as compared withRMB624.1 million in the prior year period. As a percentage of total net revenue, general and administrative expenses for the fourth quarter of 2017 decreased to 3.2% from 3.3% in the prior year period.
Income from operations for the fourth quarter of 2017 was
Non-GAAP income from operations[4], which excludes share-based compensation expenses and amortization of intangible assets resulting from business acquisitions, was
NET INCOME
Net income attributable to
Non-GAAP net income attributable to
For the quarter ended
BALANCE SHEET AND CASH FLOW
As of
For the quarter ended
For the three months ended |
||||
Dec 31, 2016
RMB'000 |
Dec 31, 2017
RMB'000 |
Dec 31, 2017
US$'000 |
||
Net cash from operating activities |
801,536 |
877,938 |
134,937 |
|
Add: Impact from Internet financing activities |
1,338,966 |
1,736,201 |
266,849 |
|
Less: Capital expenditures |
(711,711) |
(496,016) |
(76,236) |
|
Free cash flow in |
1,428,791 |
2,118,123 |
325,550 |
Full Year 2017 Financial Results
Total net revenue for the full year of 2017 increased by 28.8% year over year to
The number of active customers for the full year of 2017 increased by 11% year over year to 57.8 million from 52.1 million in the prior year. The number of total orders for the full year of 2017 increased by 24% year over year to 335.0 million from 269.8 million in the prior year.
Gross profit for the full year of 2017 increased by 19.8% to
Income from operations for the full year of 2017 was
Non-GAAP income from operations for the full year of 2017 was
Net income attributable to
Non-GAAP net income attributable to
For the full year of 2017, the Company's weighted average number of ADSs used in computing diluted earnings per ADS was 628,579,165.
For the full year of 2017, net cash from operating activities was
For the trailing twelve months ended
Dec 31, 2016
RMB'000 |
Dec 31, 2017
RMB'000 |
Dec 31, 2017
US$'000 |
||
Net cash from operating activities |
2,831,413 |
981,251 |
150,816 |
|
Add: Impact from Internet financing activities |
2,588,854 |
3,300,751 |
507,316 |
|
Less: Capital expenditures |
(2,790,627) |
(2,474,450) |
(380,316) |
|
Free cash flow in |
2,629,640 |
1,807,552 |
277,816 |
Business Outlook
For the first quarter of 2018, the Company expects its total net revenue to be between
Exchange Rate
This announcement contains currency conversions of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars are made at a rate of
Conference Call Information
The Company will hold a conference call on
United States: |
+1-845-675-0438 |
International Toll Free: |
+1-855-500-8701 |
China Domestic: |
400-1200-654 |
Hong Kong: |
+852-3018-6776 |
Conference ID: |
#3484389 |
The replay will be accessible through
United States Toll Free: |
+1-855-452-5696 |
International: |
+61-2-9003-4211 |
Conference ID: |
#3484389 |
A live and archived webcast of the conference call will also be available at the Company's investor relations website at http://ir.vip.com.
About
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as
Use of Non-GAAP Financial Measures
The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in
The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Vipshop Holdings Limited Reconciliations of GAAP and Non-GAAP Results" at the end of this release.
Investor Relations Contact
Tel: +86 (20) 2233-0732
Email: IR@vipshop.com
[1] "Active customers" are defined as registered members who have purchased from the Company or the Company's online marketplace platforms at least once during the relevant period. |
[2] "Total orders" are defined as the total number of orders placed during the relevant period, including the orders for products and services sold in the Company's online sales business and on the Company's online marketplace platforms, net of orders returned. |
[3] Non-GAAP net income attributable to Vipshop's shareholders is a non-GAAP financial measure, which is defined as net income attributable to Vipshop's shareholders excluding share-based compensation expenses, impairment loss of investments, and amortization of intangible assets resulting from business acquisitions and equity method investments. 4] Non-GAAP income from operations is a non-GAAP financial measure, which is defined as income from operations excluding share-based compensation expenses and amortization of intangible assets resulting from business acquisitions. [5] Non-GAAP operating income margin is a non-GAAP financial measure, which is defined as non-GAAP income from operations as a percentage of total net revenues. [6] "ADS" means American depositary share, each of which represents 0.2 Class A ordinary share. [7] Non-GAAP net margin attributable to Vipshop's shareholders is a non-GAAP financial measure, which is defined as non-GAAP net income attributable to Vipshop's shareholders, as a percentage of total net revenues. [8] Non-GAAP net income attributable to Vipshop's shareholders per diluted ADS is a non-GAAP financial measure, which is defined as non-GAAP net income attributable to Vipshop's shareholders [9] Free cash flow is a non-GAAP financial measure, which means the operating cash flow adding back the impact from Internet financing activities and less capital expenditures, which include purchase of property and equipment, purchase and deposits of land use rights, and purchase of other assets.
|
Vipshop Holdings Limited |
|||||||
Unaudited Condensed Consolidated Statements of Income and Comprehensive Income |
|||||||
(In thousands, except per share data) |
|||||||
Three Months Ended |
Twelve Months Ended |
||||||
December 31,2016 |
December 31,2017 |
December 31,2017 |
December 31,2016 |
December 31,2017 |
December 31,2017 |
||
RMB'000 |
RMB'000 |
USD'000 |
RMB'000 |
RMB'000 |
USD'000 |
||
Product revenues |
18,501,672 |
23,487,183 |
3,609,914 |
55,281,900 |
71,171,653 |
10,938,883 |
|
Other revenues (1) |
478,514 |
642,449 |
98,743 |
1,309,402 |
1,740,660 |
267,535 |
|
Total net revenues |
18,980,186 |
24,129,632 |
3,708,657 |
56,591,302 |
72,912,313 |
11,206,418 |
|
Cost of revenues |
(14,513,037) |
(18,889,638) |
(2,903,284) |
(42,994,688) |
(56,618,471) |
(8,702,100) |
|
Gross profit |
4,467,149 |
5,239,994 |
805,373 |
13,596,614 |
16,293,842 |
2,504,318 |
|
Operating expenses: |
|||||||
Fulfillment expenses (2) |
(1,646,760) |
(2,145,119) |
(329,699) |
(4,904,526) |
(6,899,654) |
(1,060,457) |
|
Marketing expenses |
(920,009) |
(1,018,500) |
(156,540) |
(2,837,680) |
(2,978,621) |
(457,806) |
|
Technology and content expenses |
(470,915) |
(486,060) |
(74,706) |
(1,563,582) |
(1,808,452) |
(277,954) |
|
General and administrative expenses (3) |
(624,102) |
(780,194) |
(119,914) |
(1,941,146) |
(2,447,724) |
(376,208) |
|
Total operating expenses |
(3,661,786) |
(4,429,873) |
(680,859) |
(11,246,934) |
(14,134,451) |
(2,172,425) |
|
Other income |
133,564 |
73,791 |
11,341 |
358,029 |
531,055 |
81,622 |
|
Income from operations |
938,927 |
883,912 |
135,855 |
2,707,709 |
2,690,446 |
413,515 |
|
Impairment loss of investments |
0 |
(29,919) |
(4,599) |
(114,574) |
(133,026) |
(20,446) |
|
Interest expenses |
(20,932) |
(19,388) |
(2,980) |
(85,195) |
(82,435) |
(12,670) |
|
Interest income |
29,103 |
27,032 |
4,155 |
107,044 |
101,125 |
15,543 |
|
Exchange gain (loss) |
46,650 |
(16,590) |
(2,550) |
51,100 |
(90,872) |
(13,967) |
|
Gain on disposal of an investment |
0 |
0 |
0 |
0 |
55,615 |
8,548 |
|
Income before income taxes and share of result of affiliates |
993,748 |
845,047 |
129,881 |
2,666,084 |
2,540,853 |
390,523 |
|
Income tax expenses (4) |
(207,188) |
(188,874) |
(29,029) |
(601,828) |
(626,140) |
(96,236) |
|
Share of (loss) gain of affiliates |
(23,356) |
3,692 |
567 |
(71,489) |
(22,280) |
(3,424) |
|
Net income |
763,204 |
659,865 |
101,419 |
1,992,767 |
1,892,433 |
290,863 |
|
Net loss attributable to noncontrolling interests |
4,579 |
13,335 |
2,050 |
44,050 |
57,222 |
8,795 |
|
Net income attributable to Vipshop's shareholders |
767,783 |
673,200 |
103,469 |
2,036,817 |
1,949,655 |
299,658 |
|
Shares used in calculating earnings per share (5): |
|||||||
Class A and Class B ordinary shares: |
|||||||
--Basic |
116,562,400 |
118,372,431 |
118,372,431 |
115,958,088 |
117,554,229 |
117,554,229 |
|
--Diluted |
125,369,397 |
126,107,741 |
126,107,741 |
125,817,183 |
125,715,833 |
125,715,833 |
|
Net earnings per Class A and Class B share |
|||||||
Net income attributable to Vipshop's shareholders--Basic |
6.59 |
5.69 |
0.87 |
17.57 |
16.59 |
2.55 |
|
Net income attributable to Vipshop's shareholders--Diluted |
6.29 |
5.37 |
0.83 |
16.86 |
15.94 |
2.45 |
|
Net earnings per ADS (1 ordinary share equals to 5 ADSs) |
|||||||
Net income attributable to Vipshop's shareholders--Basic |
1.32 |
1.14 |
0.17 |
3.51 |
3.32 |
0.51 |
|
Net income attributable to Vipshop's shareholders--Diluted |
1.26 |
1.07 |
0.17 |
3.37 |
3.19 |
0.49 |
|
(1) Other revenues primarily consist of revenues from third-party logistics services, product |
|||||||
(2) Fulfillment expenses include shipping and handling expenses, which amounted RMB 856 |
|||||||
(3) General and administrative expenses include amortization of intangible assets resulting from |
|||||||
(4) Income tax expenses include income tax benefits of RMB 20 million and RMB 21 million related |
|||||||
(5) Authorized share capital is re-classified and re-designated into Class A ordinary shares and |
|||||||
Net income |
763,204 |
659,865 |
101,419 |
1,992,767 |
1,892,433 |
290,863 |
|
Other comprehensive income, net of tax: |
|||||||
Foreign currency translation adjustments |
(252,028) |
125,291 |
19,257 |
(288,955) |
342,348 |
52,618 |
|
Unrealized gain (loss) from available-for-sale securities |
9,628 |
(1,724) |
(265) |
(17,042) |
32,633 |
5,016 |
|
Reclassification adjustment for loss(gain) included in net income |
0 |
0 |
0 |
36,567 |
(55,615) |
(8,548) |
|
Comprehensive income |
520,804 |
783,432 |
120,411 |
1,723,337 |
2,211,799 |
339,949 |
|
Less: Comprehensive loss attributable to noncontrolling interests |
(4,649) |
(13,335) |
(2,050) |
(40,854) |
(57,222) |
(8,795) |
|
Comprehensive income attributable to Vipshop's shareholders |
525,453 |
796,767 |
122,461 |
1,764,191 |
2,269,021 |
348,744 |
|
Three Months Ended |
Twelve Months Ended |
||||||
December 31,2016 |
December 31,2017 |
December 31,2017 |
December 31,2016 |
December 31,2017 |
December 31,2017 |
||
RMB'000 |
RMB'000 |
USD'000 |
RMB'000 |
RMB'000 |
USD'000 |
||
Share-based compensation expenses included are as follows |
|||||||
Fulfillment expenses |
11,021 |
18,239 |
2,803 |
38,428 |
73,235 |
11,256 |
|
Marketing expenses |
9,915 |
10,264 |
1,578 |
38,459 |
40,364 |
6,204 |
|
Technology and content expenses |
56,748 |
48,490 |
7,453 |
183,122 |
206,073 |
31,673 |
|
General and administrative expenses |
63,619 |
57,119 |
8,779 |
215,644 |
347,426 |
53,398 |
|
Total |
141,303 |
134,112 |
20,613 |
475,653 |
667,098 |
102,531 |
|
Vipshop Holdings Limited |
|||||||
Unaudited Condensed Consolidated Balance Sheets |
|||||||
(In thousands, except per share data) |
|||||||
December 31,2016 |
December 31,2017 |
December 31,2017 |
|||||
RMB'000 |
RMB'000 |
USD'000 |
|||||
ASSETS |
|||||||
CURRENT ASSETS |
|||||||
Cash and cash equivalents |
4,109,577 |
9,973,891 |
1,532,959 |
||||
Restricted cash |
0 |
248,101 |
38,132 |
||||
Held-to-maturity securities |
671,776 |
245,981 |
37,807 |
||||
Accounts receivable, net |
2,333,918 |
4,803,527 |
738,289 |
||||
Amounts due from related parties |
8,352 |
10,191 |
1,566 |
||||
Other receivables and prepayments,net |
2,293,825 |
3,674,196 |
564,714 |
||||
Inventories |
4,948,609 |
6,960,251 |
1,069,771 |
||||
Deferred tax assets |
214,815 |
0 |
0 |
||||
Total current assets |
14,580,872 |
25,916,138 |
3,983,238 |
||||
NON-CURRENT ASSETS |
|||||||
Property and equipment, net |
4,467,451 |
6,660,825 |
1,023,750 |
||||
Deposits for property and equipment |
1,039,793 |
307,859 |
47,317 |
||||
Land use rights, net |
2,399,058 |
3,077,770 |
473,045 |
||||
Intangible assets, net |
725,147 |
400,994 |
61,632 |
||||
Investment in affiliates |
93,144 |
66,334 |
10,195 |
||||
Other investments |
503,117 |
387,640 |
59,579 |
||||
Available-for-sale securities investments |
407,944 |
146,282 |
22,483 |
||||
Other long-term assets |
510,821 |
366,760 |
56,370 |
||||
Goodwill |
367,106 |
367,106 |
56,423 |
||||
Deferred tax assets |
0 |
285,112 |
43,821 |
||||
Total non-current assets |
10,513,581 |
12,066,682 |
1,854,615 |
||||
TOTAL ASSETS |
25,094,453 |
37,982,820 |
5,837,853 |
||||
LIABILTIES AND EQUITY |
|||||||
CURRENT LIABILITIES |
|||||||
Short term loans (Including short term loans of the VIE without recourse to |
0 |
907,310 |
139,451 |
||||
Accounts payable (Including accounts payable of the VIE without recourse |
8,333,610 |
11,445,109 |
1,759,081 |
||||
Advance from customers (Including advance from customers of the VIE |
2,699,981 |
2,339,914 |
359,638 |
||||
Accrued expenses and other current liabilities (Including accrued expenses |
3,322,599 |
3,537,151 |
543,650 |
||||
Amounts due to related parties (Including amounts due to related parties of |
52,729 |
65,022 |
9,994 |
||||
Deferred income (Including deferred income of the VIE without recourse to |
174,547 |
203,179 |
31,228 |
||||
Securitization debt (Including securitization debt of the VIE without recourse |
0 |
760,000 |
116,810 |
||||
Total current liabilities |
14,583,466 |
19,257,685 |
2,959,852 |
||||
NON-CURRENT LIABILITIES |
|||||||
Deferred tax liability (Including deferred tax of the VIE without recourse to the |
100,583 |
17,007 |
2,614 |
||||
Deferred income-non current (Including deferred income-non current of the |
246,902 |
362,649 |
55,738 |
||||
Convertible senior notes |
4,381,698 |
4,094,903 |
629,375 |
||||
Total non-current liabilities |
4,729,183 |
4,474,559 |
687,727 |
||||
Total liabilities |
19,312,649 |
23,732,244 |
3,647,579 |
||||
EQUITY: |
|||||||
Class A ordinary shares (US$0.0001 par value, 483,489,642 shares |
66 |
74 |
11 |
||||
Class B ordinary shares (US$0.0001 par value, 16,510,358 shares |
11 |
11 |
2 |
||||
Treasury shares, at cost - 1,356,918 shares and nil shares as of December |
(707,441) |
0 |
0 |
||||
Additional paid-in capital |
3,130,126 |
8,715,995 |
1,339,624 |
||||
Retained earnings |
3,653,026 |
5,602,681 |
861,116 |
||||
Accumulated other comprehensive loss |
(343,608) |
(24,242) |
(3,725) |
||||
Noncontrolling interests |
49,624 |
(43,943) |
(6,754) |
||||
Total shareholders' equity |
5,781,804 |
14,250,576 |
2,190,274 |
||||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
25,094,453 |
37,982,820 |
5,837,853 |
||||
Vipshop Holdings Limited |
|||||||
Reconciliations of GAAP and Non-GAAP Results |
|||||||
Three Months Ended |
Twelve Months Ended |
||||||
December 31,2016 |
December 31,2017 |
December 31,2017 |
December 31,2016 |
December 31,2017 |
December 31,2017 |
||
RMB'000 |
RMB'000 |
USD'000 |
RMB'000 |
RMB'000 |
USD'000 |
||
Income from operations |
938,927 |
883,912 |
135,855 |
2,707,709 |
2,690,446 |
413,515 |
|
Share-based compensation expenses |
141,303 |
134,112 |
20,613 |
475,653 |
667,098 |
102,531 |
|
Amortization of intangible assets resulting from business acquisitions |
78,258 |
84,161 |
12,935 |
309,537 |
339,669 |
52,206 |
|
Non-GAAP income from operations |
1,158,488 |
1,102,185 |
169,403 |
3,492,899 |
3,697,213 |
568,252 |
|
Net income |
763,204 |
659,865 |
101,419 |
1,992,767 |
1,892,433 |
290,863 |
|
Share-based compensation expenses |
141,303 |
134,112 |
20,613 |
475,653 |
667,098 |
102,531 |
|
Impairment loss in investments |
0 |
29,919 |
4,599 |
114,574 |
133,026 |
20,446 |
|
Amortization of intangible assets resulting from business acquisitions and |
92,721 |
84,161 |
12,935 |
367,389 |
360,066 |
55,341 |
|
Tax effect of amortization of intangible assets resulting from business |
(20,179) |
(21,040) |
(3,234) |
(79,840) |
(84,917) |
(13,052) |
|
Non-GAAP net income |
977,049 |
887,017 |
136,332 |
2,870,543 |
2,967,706 |
456,129 |
|
Net income attributable to Vipshop's shareholders |
767,783 |
673,200 |
103,469 |
2,036,817 |
1,949,655 |
299,658 |
|
Share-based compensation expenses |
141,303 |
134,112 |
20,613 |
475,653 |
667,098 |
102,531 |
|
Impairment loss in investments |
0 |
29,919 |
4,599 |
114,574 |
133,026 |
20,446 |
|
Amortization of intangible assets resulting from business acquisitions and |
77,533 |
67,857 |
10,430 |
302,862 |
294,261 |
45,228 |
|
Tax effect of amortization of intangible assets resulting from business |
(16,340) |
(16,965) |
(2,607) |
(63,273) |
(68,468) |
(10,523) |
|
Non-GAAP net income attributable to Vipshop's shareholders |
970,279 |
888,123 |
136,504 |
2,866,633 |
2,975,572 |
457,340 |
|
Shares used in calculating earnings per share: |
|||||||
Basic ordinary shares: |
|||||||
Class A and Class B ordinary shares: |
|||||||
--Basic |
116,562,400 |
118,372,431 |
118,372,431 |
115,958,088 |
117,554,229 |
117,554,229 |
|
--Diluted |
125,369,397 |
126,107,741 |
126,107,741 |
125,817,183 |
125,715,833 |
125,715,833 |
|
Non-GAAP net income per Class A and Class B share |
|||||||
Non-GAAP net income attributable to Vipshop's shareholders--Basic |
8.32 |
7.50 |
1.15 |
24.72 |
25.31 |
3.89 |
|
Non-GAAP net income attributable to Vipshop's shareholders--Diluted |
7.91 |
7.07 |
1.09 |
23.45 |
24.10 |
3.70 |
|
Non-GAAP net income per ADS (1 ordinary share equal to 5 ADSs) |
|||||||
Non-GAAP net income attributable to Vipshop's shareholders--Basic |
1.66 |
1.50 |
0.23 |
4.94 |
5.06 |
0.78 |
|
Non-GAAP net income attributable to Vipshop's shareholders--Diluted |
1.58 |
1.41 |
0.22 |
4.69 |
4.82 |
0.74 |
View original content:http://www.prnewswire.com/news-releases/vipshop-reports-unaudited-fourth-quarter-and-full-year-2017-financial-results-300596973.html
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