Baozun, Inc. · NASDAQ:BZUN
Baozun — Q1 2022 Earnings Presentation
21 slides from Baozun's earnings presentation, May 26, 2022
Slide 1: 1Q 2022 Earnings Presentation
1Q 2022 Earnings Presentation May 26, 2022
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: 1Q22 Financial Highlights
1Q22 Financial Highlights Total Net Service Non-GAAP Income Number of Brand Partners GMV(1) Revenues Revenues from Operations (2) for Store Operations RMB 17.0 bn RMB 2.0 bn RMB 1.3 bn RMB 4.7 mm 345 +28% YoY -2% YoY +24% YoY -94% YoY Net +12 in 1Q22 (1) Gross merchandise volume, includes value adde
Slide 4: 1Q22 Business Highlights
1Q22 Business Highlights 01 Strategic Business Development • Won high-quality brand especially in luxury, premium and lifestyle categories $ • Net add 12 brand partners for store operations in 1Q22 • 345 brand partners for online store operations as of March 31, 2022 02 Omni-Channel • Enabling brand
Slide 5: End-to-end E-Commerce Technology Transformation
End-to-end E-Commerce Technology Transformation Successful Digital Transformation Cases BAOZUN OMNI-CHANNEL DIGITAL OPERATION PLATFORM Tech Platform + Dedicated End-to-end One Team Business to Co-develop Capabilities China-for-China Solutions Product Inventory Order Settlement Customer Business Midd
Slide 6: Prompt Responses to Covid
Prompt Responses to Covid Regional Service Centers Logistics & Supply Chain Operational Tactics • Digitalized platform Service Anywhere, • Transit from centralized • Technology enabled omni-channel or S-ANY serves as backbone to support warehousing to grid management digital operating platforms and
Slide 7: Resilient Topline Momentum
Resilient Topline Momentum Total GMV (1) Total Net Revenues RMB mn RMB mn 71,054 9,396 8,852 55,688 7,278 44,410 5,523 4,945 5,393 66,718 3,856 29,426 4,149 51,353 2,876 40,561 1,891 19,112 16,998 2,021 1,984 26,524 13,241 3,907 3,874 3,422 16,492 1,049 1,303 16,233 2,258 2,517 12,167 972 681 2,620
Slide 8: 1Q22 Revenue Breakdown
1Q22 Revenue Breakdown Online Store Operation Revenue YoY Growth Revenue Breakdown by Service Segment Revenue YoY Growth by Service Segment by Category Appliances -6% Digital Online Store -19% Apparel and accessories 6% Marketing & Operations IT Solution 19% Sportswear -25% Appliance 18% Apparel and
Slide 9: Improved Gross Margin
Improved Gross Margin Cost of Goods Sold Gross profit (1) RMB mn RMB mn 70% 65% 59% 70.0% 62% 62% 62% 54% 6,120 3,326 3,277 5,525 50.0% 2,774 4,504 30.0% 2,035 1,917 3,358 10.0% 2,231 -10.0% 822 1,388 1,198 596 -30.0% -50.0% 2017 2018 2019 2020 2021 1Q 2021 1Q 2022 2017 2018 2019 2020 2021 1Q 2021 1
Slide 10: Optimizing Cost Structure and Driving Operational Efficiency
Optimizing Cost Structure and Driving Operational Efficiency Operating expenses breakdown (as % of total GMV) Operating Expense Organic Inorganic Total Breakdown (1) RMB MM Business Business Fulfillment Expenses 451 178 629 10.4% 10.3% 0.6% 0.5% 9.3% YoY (11.2)% n.a 23.9% 0.7% 0.9% 9.0% 0.5% 8.7% 8.
Slide 11: Profitability Trend
Profitability Trend 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% 4.9% 2.4% 2.3% 3.1% 669 0.2% 0.0% 0.0% 536 0.0% -10.0% -10.0% 460 433 347 358 -20.0% -20.0% 315 268 224 -30.0% 217 -30.0% -40.0% -40.0% 76 62 5 0 -50.0% -
Slide 12: Revenue Walk 1Q21 vs 1Q22
Revenue Walk 1Q21 vs 1Q22 Revenue Bridge (1) RMB Mn Stream of Online Store Operations 1Q21 Sportswear & Distribution Luxury Other Business Warehousing Digital 3 M&A 1Q22 Revenue Fashion Apparel Units and Fulfillment Marketing & IT Revenue Solutions (1) Except for the 2021 Q1 revenue and 2022 Q1 reve
Slide 13: Profits Walk 1Q21 vs 1Q22
Profits Walk 1Q21 vs 1Q22 Non-GAAP Income from Operations Bridge (1) RMB Mn Backend & Strategic Investment Breakdown Stategic Others Business 2 Development 4 Stream of Online Store Operations Compensation Restructure Initiatives 7 1Q21 Non-GAAP Sportswear & Distribution Luxury Other Business Warehou
Slide 14: Financial Management Priorities
Financial Management Priorities Key Initiatives Operational Efficiency Working Capital Efficiency Overhead Cost Control Methodologies Regional Service Center and Portfolio optimization & Working Optimize Headquarter Cost Base Business Operation Center Capital Efficiency Enhancement & Improve Backend
Slide 15: Cash Flow Walk 4Q21 vs 1Q22
Cash Flow Walk 4Q21 vs 1Q22 RMB Mn Financing CF 31/12/2021 Operating Investing Financing – Financing – Financing – Foreign 31/03/2022 Cash Cash & Cash Share Convertible Bond Others Exchange & Cash Equivalent Buyback Buyback Equivalent Balance (1) Balance (1) (1) Including cash, cash equivalents, res
Slide 16: Q&A
Q&A 15
Slide 17: Appendix
Appendix
Slide 18: 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 2019 2020 2021 2021 2022 Product sales 3,422,151 3,906,611 3,873,589 971,842 680,840 Services 3,856,041 4,944,952 5,522,667 1,048,654 1,303,31
Slide 19: 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 2019 2020 2021 2022 ASSETS Cash and cash equivalents 1,144,451 3,579,665 4,606,541 3,365,645 Restricted cash 382,359 151,354 93,219 10,058 Accounts rec
Slide 20: Reconciliations of GAAP and non-GAAP Financial Measures
Reconciliations of GAAP and non-GAAP Financial Measures For the year ended For the three months December 31, ended March 31, In RMB ’000 2019 2020 2021 2021 2022 Income from operations 383,653 558,677 7,021 52,911 (41,170) Add: Share-based compensation expenses 75,183 108,440 196,547 22,452 35,040 A
Slide 21: Thank You!
3 > x Cc © —— ke