Baozun, Inc. · NASDAQ:BZUN
Baozun — Q2 2023 Earnings Presentation
21 slides from Baozun's earnings presentation, Aug 28, 2023
Slide 1: 2Q 2023 Earnings Presentation
2Q 2023 Earnings Presentation August 28, 2023
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: Baozun Business Transformation
Baozun Business Transformation Baozun E-Commerce Baozun Brand Management Baozun International (BEC) (BBM) (BZI) Sustainable Growth with Margin Improvement Empowering Brand Growth in China From China to the World • Cultivate the e-commerce market of China and • 360° brand management • “Glocalization”
Slide 4: 2Q23 Financial Snapshot
2Q23 Financial Snapshot Non-GAAP Operating Total Cash Revenue Operating Income (1) Cash Flow(3) Position (4) RMB 2.3 bn RMB 1 mn RMB 453 mn RMB 3.2 bn +9% YoY + 12% YoY Of which, E-Commerce(2) Totaled 61 mn +29% year-over-year (1) Non-GAAP income (loss) from operations is a non-GAAP financial measur
Slide 5: Baozun Strategic Partnership With ABG
Baozun Strategic Partnership With ABG 50+ $29B+ 150+ Brands Global retail sales Countries Source: ABG Company Website 4
Slide 6: 2Q23 Financial Highlights by Segment
2Q23 Financial Highlights by Segment Brand Baozun Total E-Commerce Management RMB mn 2,320 2,122 2,122 1,996 E-Commerce Brand Management Revenue Operating segments are reported in a manner consistent with the 324 internal reporting provided to the chief operating decision maker (the “CODM”), which i
Slide 7: 2Q23 Revenue Breakdown
2Q23 Revenue Breakdown Total Net Revenues Revenue Contribution by Business Model RMB mn Service - VAS, 2,320 44% 2,122 324 Product Product Sales Sales -BEC, 26% 2,122 1,996 40% Product 2Q2022 2Q2023 Sales - Service - Store Operations, BBM, 14% E-Commerce Brand Management 16% Revenue YoY Change Break
Slide 8: Gross Profit and Gross Margin Breakdown
Gross Profit and Gross Margin Breakdown RMB mn Baozun Total E-Commerce Brand Management 1,520 1,645 1,520 1,492 (1) Gross Profit 168 2Q22 2Q23 2Q22 2Q23 2Q22 2Q23 72% 71% 72% 74% 52% Gross Margin 2Q22 2Q23 2Q22 2Q23 2022Q2 2023Q2 2022Q2 2023Q2 2022Q2 2023Q2 (1) Before inter-segment eliminations of 1
Slide 9: Cash Flow Walk 1Q23 vs 2Q23
Cash Flow Walk 1Q23 vs 2Q23 RMB Mn Total Cash Position Net Cash Position RMB 3.2 bn RMB 2.1 bn + 2% YoY + 14% YoY OCF improved RMB49Mn YoY through efficient working capital management Net interest income RMB10Mn+ through effective treasury management Financing cash flow change mainly due 31/03/2023
Slide 10: E-Commerce Omni-Channel Progress
E-Commerce Omni-Channel Progress 2023Q2 GMV Channel Contribution Multi-Channel Rate 65.9% 34.1% 46.1% 43.8% 42.4% 41.8% 40.2% 38.1% 2022Q2 GMV Channel Contribution 75.6% 24.4% -10pts +10pts 2022Q1 2022Q2 2022Q3 2022Q4 2023Q1 2023Q2 Tmall Channel Non-Tmall Channel 9
Slide 11: Creative Content to Commerce
Creative Content to Commerce x ( + ) = CREATIVE CONTENT OPERATION COMMERCE 10,000+ sq.m. Multi-Location Livestreaming center Shanghai, Hangzhou, Wuhan, Hefei and Nantong Showcases 10
Slide 12: Key Initiatives for BEC Transition Plan
Key Initiatives for BEC Transition Plan Customer First Focus on Quality and Sustainability Next 12-18 Months Transition period Enhance Capabilities and Innovate Business Models Cost Transformation and Process Re-engineering 11
Slide 13: Baozun Brand Management
Baozun Brand Management BBM is a holistic omni-channel partner for global brands. We focus on growing a portfolio of premium consumer lifestyle brands that we manage with a data and technology driven China-for-China approach. Holistic brand management • From online to offline • From supply chain to
Slide 14: Gap Highlights for 2Q 2023
Gap Highlights for 2Q 2023 324MM Approx. 52% Revenue Contribution Gross Margin 13
Slide 15: Acquiring 51% Hunter IP For Greater China and Southeast Asia
Acquiring 51% Hunter IP For Greater China and Southeast Asia DIVERSE FREEDOM NATURE “We celebrate unique individuals with a “Nature gives to you Openly, Freely, not “Hunter plays a part in enabling people to strong connection to the world knowingly.” experience nature and all its possibilities.” out
Slide 16: Q&A
Q&A 15
Slide 17: Appendix
Appendix
Slide 18: Selected Consolidated Statements of Income
Selected Consolidated Statements of Income For the year ended For the six months ended For the three months ended December 31, June 30, June 30, in RMB '000 2020 2021 2022 2022 2023 2022 2023 Product sales 3,906,611 3,873,589 2,644,214 1,374,741 1,596,325 693,901 930,256 Services 4,944,952 5,522,667
Slide 19: Reconciliations of GAAP and non-GAAP Financial Measures
Reconciliations of GAAP and non-GAAP Financial Measures For the year ended For the six months For the three months December 31, ended June 30, ended June 30, In RMB ’000 2020 2021 2022 2022 2023 2022 2023 Income (loss) from operations 558,677 7,021 33,287 (64,525) (77,066) (23,355) (36,437) Add: Sha
Slide 20: Selected Consolidated Balance Sheet Data
Selected Consolidated Balance Sheet Data For the year ended For the three months December 31, ended June 30, in RMB '000 2020 2021 2022 2022 2023 ASSETS Cash and cash equivalents 3,579,665 4,606,545 2,144,020 3,114,597 1,689,337 Restricted cash 151,354 93,219 101,704 22,171 59,374 Short-term investm
Slide 21: Thank You
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