Baozun Returns to Profitability in Second Quarter 2026
Shanghai-based e-commerce provider Baozun Inc. reported a return to profitability for the second quarter of 2026, posting net income of RMB17 million compared to a RMB34 million loss during the same period last year, as the company benefited from improved operating efficiency and growth in its brand management division.
Total net revenues for the quarter reached RMB2.74 billion, a 7.5% increase year-over-year. The company’s two primary segments, Baozun E-Commerce (BEC) and Baozun Brand Management (BBM), showed divergent but complementary paths toward growth. BEC saw a 4.6% revenue increase, bolstered by digital marketing and IT service fees, while BBM recorded a 21.9% surge in revenue to RMB485.6 million, largely driven by the performance of the Gap brand in Greater China.
Management highlighted that the shift toward AI-powered automation and technology-driven operations contributed to the bottom line, with non-GAAP operating income rising to RMB74.3 million. Reflecting this momentum, the company raised its 2028 non-GAAP operating income target to at least RMB700 million. CFO Catherine Zhu noted that inventory turnover also improved significantly, with days of inventory falling to 112 from 134 a year prior, signaling a tighter grip on supply chain management.
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