Baozun, Inc. · NASDAQ:BZUN
Baozun — Q2 2021 Earnings Presentation
20 slides from Baozun's earnings presentation, August 2021
Slide 1: 2Q21 Earnings Presentation
2Q21 Earnings Presentation August 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 2Q Financial Highlights
2021 2Q Financial Highlights Non-GAAP Income Non-GAAP GMV(1) Revenue from Operations(2) Net Income RMB 15.7 bn RMB 2.3 bn RMB 161.6 mm RMB 153.3 mm +23% YoY +7% YoY -14% YoY +4% YoY (1) Gross merchandise volume for the quarter of 2021 Q2, includes value added tax and excludes (i) shipping charges, (
Slide 4: Omni-Channel Expansion & Robust Growth for Luxury & Premium Sector
Omni-Channel Expansion & Robust Growth for Luxury & Premium Sector Omni-Channel Expansion Strong Growth Momentum For Luxury & Premium GMV Breakdown by Channel 2021 2Q 2020 2Q Visited headquarters of European luxury and premium brands with Full Jet team Tmall Channel 68% 75% Positive feedback of Chin
Slide 5: M&A Progress Update
M&A Progress Update Strategic Investment to Enhance our Logistics Capabilities 宝必达 Enlarge Premium Warehouse Capacities Vertical Extension in More Categories Regional Cost Advantage • Expanded premium warehouse capacity • Integrated logistics and delivery resources • Broader supply chain services •
Slide 6: M&A Progress Update (Cont'd)
M&A Progress Update (Cont’d) M&A Projects to Enhance our Brand E-commerce Capabilities • Further penetrate in branded fashion sector • Extend leadership position • Started to offer e-commerce solutions to FFG brands • To joint development of special offer product in 2H21 • Business development well
Slide 7: Technology Powered Middle Office to Improve Efficiency
Technology Powered Middle Office to Improve Efficiency Baozun Omni-channel E-commerce Solution Empower Front Office, Improve Quality, Reduce Cost Business Operation Centres Centralised Customer Services Regional Service Centres Process System Data • Standardisation and automation • Stability and rel
Slide 8: 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 9: Financial Highlights
Financial Highlights
Slide 10: Mixed GMV Growth
Mixed GMV Growth Total GMV (1) GMV by Category (for 2Q21) RMB mn 20%+ 25%+ 55,688 Electronics FMCG 44,410 Over 100% Over 100% YoY growth YoY growth 29,426 28,968 51,353 40,561 21,968 Sports 19,112 15,727 26,524 26,800 12,758 11,265 Luxury 20,147 16,492 Apparel & 35%+ 8,731 11,720 14,633 Accessories
Slide 11: Robust Revenue Growth
Robust Revenue Growth Total net revenues Gross profit (1) RMB mn RMB mn 8,852 64% 65% 62% 62% 62% 63% 62% 7,278 54% 5,525 43% 50.0% 4,945 4,504 5,393 30.0% 3,856 4,325 3,358 4,149 10.0% 2,876 3,676 3,390 2,688 1,891 2,231 2,310 2,381 1,214 -10.0% 2,047 2,304 2,152 1,468 1,376 1,490 3,907 3,422 1,332
Slide 12: Optimizing Cost Structure and Driving Operational Efficiency
Optimizing Cost Structure and Driving Operational Efficiency Operating expenses breakdown (as % of total GMV) Operating expense analysis (for 2Q2021) • Less outbound orders for the quarter 12.2% impacted by BCI 0.8% Fulfillment 560MM • Efficiency improvement YoY GMV% 4.5%→3.6% 0.8% 10.4% 10.3% 9.9%
Slide 13: Healthy and Sustainable Profitability
Healthy and Sustainable Profitability Non-GAAP income from operations (1) Non-GAAP net income (2) RMB mn RMB mn 8.0% 8.7% 7.6% 7.6% 7.0% 10.0% 6.9% 10.0% 6.3% 6.1% 5.5% 6.5% 6.4% 6.1% 6.7% 3.7% 4.9% 4.7% 5.0% 3.5% 669 0.0% 536 0.0% -10.0% -10.0% 460 433 347 358 -20.0% -20.0% 315 268 237 -30.0% 215 2
Slide 14: 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% 6.8% 6.5% 9 8.578.40 3.6% 4.9% 4.7% 4.9% 535 8 7 6.1
Slide 15: Positive Operating Cash Flow and Sufficient Cash Reserves
Positive Operating Cash Flow and Sufficient Cash Reserves RMB Mn 31/03/2021 Cash Operating Investing Investing Financing Foreign 30/06/2021 Cash & Short-term Total Cash & Cash & Cash Equivalent M&A Others Exchange Cash Equivalent Investment Equivalent and Short- Balance (1) Balance (1) term investme
Slide 16: Appendix
Appendix
Slide 17: Consolidated Statements of Income
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 2018 2019 2020 2020 2021 2020 2021 Product sales 2,516,862 3,422,151 3,906,611 1,628,931 1,943,919 927,799 97
Slide 18: Consolidated Balance Sheet
Consolidated Balance Sheet Selected Consolidated Balance Sheet Data For the year ended For the three months ended December 31, June 30, in RMB '000 2018 2019 2020 2021 ASSETS Cash and cash equivalents 457,340 1,144,451 3,579,665 3,391,749 Restricted cash 125,515 382,359 151,354 177,549 Accounts rece
Slide 19: Reconciliations of GAAP and non-GAAP Financial Measures
Reconciliations of GAAP and non-GAAP Financial Measures For the six months For the three months For the year ended December 31, ended June 30, ended June 30, In RMB ’000 2016 2017 2018 2019 2020 2020 2021 2020 2021 Income from operations 90,066 256,332 355,773 383,653 558,677 173,442 159,545 160,643
Slide 20: Thank You!
Thank You!