Baozun, Inc. · NASDAQ:BZUN
Baozun — Q1 2021 Earnings Presentation
18 slides from Baozun's earnings presentation, May 2021
Slide 1: 1Q21 Earnings Presentation
1Q21 Earnings Presentation May 2021
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an offer to sell or issue or solicitation of an offer to buy or acquire securities of Baozun Inc. (the “Company”) in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in
Slide 3: 2021 1Q Financial Highlights
2021 1Q Financial Highlights 281 Non-GAAP Income Brand Partners(1) GMV(2) Revenue from Operations(3) + 15 RMB 13.2 bn RMB 2.0 bn RMB 75.8 mm Net Add QoQ +44% YoY +33% YoY +106% YoY (1) As of March 31, 2021 (2) Gross merchandise volume for the quarter of 2021 Q1, includes value added tax and excludes
Slide 4: Baozun 3-5 Year Medium-Term Strategic Plan
Baozun 3-5 Year Medium-Term Strategic Plan Aspiration, Mission and Objectives Aspiration: From brands to consumers, we strive to become the leading global brand e-commerce business partner Mission: Technology empowers future success Objective: Sustainable & profitable growth Strategy Priorities “Cus
Slide 5: Progress on Key Initiatives
Progress on Key Initiatives “Customer First” to Drive Growth through Omni-Channel & New Business Model Cost Structure Optimization Service Differentiation Exploration • Continuous progress on Luxury Sector with • GMV contribution from Non-Tmall channels • Significant cost savings delivered by Busine
Slide 6: Continuous Infrastructure Enablers Enhancements
Continuous Infrastructure Enablers Enhancements Technology ✓ Upgraded technology system and capacity to facilitate omni-channel ✓ Enhanced ROSS one-stop online design platform ✓ Launched Selling Machine (“SEMA”) to increase efficiency in customer acquisition Solid Digital Marketing Effective ✓ Conti
Slide 7: Environmental, Social and Governance (ESG) Update
Environmental, Social and Governance (ESG) Update Stakeholder Industry Human ESG Report Participation Influence Resource Issued Baozun’s 800+ Strive to set Deepen investment in 1st ESG report in May Survey Response industry benchmark human resource 6
Slide 8: Financial Highlights
Financial Highlights
Slide 9: Solid GMV Growth
Solid GMV Growth Total GMV (1) GMV by Category RMB mn Sports 55,688 Luxury Apparel & Accessories 50%+ 44,410 ~ 30% YoY Men’s growth Clothing Women’s Clothing 29,426 51,353 40,561 ~15% 19,112 20%+ 26,524 13,241 11,265 16,492 9,210 Electronics FMCG 8,731 12,167 8,427 ~ 40% YoY Over 100% 3,849 4,335 gr
Slide 10: Robust Revenue Growth
Robust Revenue Growth Total net revenues Gross profit (1) RMB mn RMB mn 61% 8,852 62% 62% 62% 59% 7,278 54% 5,525 43% 50.0% 4,945 4,504 5,393 30.0% 3,856 4,149 3,358 10.0% 2,876 3,390 1,891 2,231 1,214 -10.0% 2,021 1,468 3,907 1,524 3,422 1,198 1,049 934 2,517 -30.0% 2,176 2,258 823 701 972 -50.0% 2
Slide 11: Optimized Cost Structure and Drove Operational Efficiency
Optimized Cost Structure and Drove Operational Efficiency Operating expenses breakdown (as % of total GMV) Operating expense analysis • Newly established remote service centers 12.2% • Efficiency gain 0.8% Fulfillment 508MM • Greater deployment of cost-efficient last 0.8% 10.4% 10.3% 10.0% YoY GMV%
Slide 12: Healthy and Sustainable Profitability
Healthy and Sustainable Profitability Non-GAAP income from operations (1) Non-GAAP net income (2) RMB mn RMB mn 7.6% 8.0% 7.6% 10.0% 6.3% 6.5% 6.4% 6.1% 10.0% 3.7% 3.7% 4.9% 2.4% 3.5% 3.1% 669 1.7% 0.0% 536 0.0% -10.0% -10.0% 460 433 347 358 -20.0% -20.0% 315 268 -30.0% -30.0% 124 120 -40.0% -40.0%
Slide 13: Healthy and Sustainable Profitability (Cont'd)
Healthy and Sustainable Profitability (Cont’d) Non-GAAP net income Basic and Diluted non-GAAP net income attributable to Ordinary Shareholders of Baozun (1) attributable to Ordinary Shareholders of Baozun Inc. per ADS (2) RMB mn RMB 6.4% 6.4% 6.0% 9 8.57 8.40 3.6% 4.9% 3.0% 1.7% 535 8 7 6.11 6.16 5.
Slide 14: Appendix
Appendix
Slide 15: Consolidated Statements of Income
Consolidated Statements of Income Selected Consolidated Statements of Income For the year ended For the three months ended December 31, March 31, in RMB '000 2018 2019 2020 2020 2021 Product sales 2,516,862 3,422,151 3,906,611 701,132 971,842 Services 2,876,175 3,856,041 4,944,952 822,508 1,048,654
Slide 16: Consolidated Balance Sheet
Consolidated Balance Sheet Selected Consolidated Balance Sheet Data For the year ended For the three months ended December 31, March 31, in RMB '000 2018 2019 2020 2021 ASSETS Cash and cash equivalents 457,340 1,144,451 3,579,665 2,986,413 Restricted cash 125,515 382,359 151,354 8,812 Accounts recei
Slide 17: Reconciliations of GAAP and non-GAAP Financial Measures
Reconciliations of GAAP and non-GAAP Financial Measures For the three months For the year ended December 31, ended March 31, In RMB ’000 2016 2017 2018 2019 2020 2020 2021 Income from operations 90,066 256,332 355,773 383,653 558,677 12,799 52,911 Add: Share-based compensation expenses 34,185 58,231
Slide 18: Thank You!
Thank You!