“VIP Shop” released the first quarter financial results: net profit totaled $ 5.8 million

Vipshop Holdings Limited (唯品会, NYSE ticker: VIPS) on Tuesday announced unaudited financial results for the first quarter ended March 31, in the 2013 fiscal year. The report showed that the company in first quarter achieved the net revenues of $ 310.7 million, an increase of 206.8% over the same period last year; net profit totaled $ 5.8 million, compared to the net loss of $ 8.6 million for the same period last year.

The net profit growth of Vipshop Holdings Limited (唯品会, NYSE ticker: VIPS) was mainly due to the growth of number of active users compared to the same period last year, increased by 169.9 percent from 1 million to 2.8 million, and the total number of orders witnessed an increase of 186.9% from 310 million during the same period last year to 880 million copies. The company’s first quarter gross margin was 23.4%, 21.2% higher than the same period last year.

The Vipshop Holdings Limited (唯品会, NYSE ticker: VIPS) chairman and CEO of Shen Ya said, “We feel the momentum in first quarter and we are very pleased to continue to prove the strength of our differentiated e-business models. Helped with the steady growth of active users and the total number of orders, our revenue again exceeded expectations. This indicates that consumers are looking the favorite brand instead of focusing on price only, the attractiveness of our platform is growing. By focusing on optimization of product selection, we have expanded partnership with high-end brands, which at the same time enhances our overall brand image while promoting sales.”

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