Baozun, Inc. · NASDAQ:BZUN
Baozun — Q2 2022 Earnings Presentation
22 slides from Baozun's earnings presentation, Aug 23, 2022
Slide 1: 2Q 2022 Earnings Presentation
2Q 2022 Earnings Presentation August 23, 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: 2Q22 Financial Highlights
2Q22 Financial Highlights Total Net Service Non-GAAP Income Number of Brand Partners GMV(1) Revenues Revenues from Operations (2) for Store Operations RMB 23.1 bn RMB 2.1 bn RMB 1.4 bn RMB 47 mm 355 +47% YoY -8% YoY +7% YoY -71% YoY Net +10 in 2Q22 (1) Gross merchandise volume, includes value added
Slide 4: Digital Transformation to Cope With Covid Interruptions
Digital Transformation to Cope With Covid Interruptions Convergence between online & offline Intelligent customer service management system OmO Upgrade digital content & More virtual reality functions S-ANY 3
Slide 5: Solid Progress in Strategic Business Development
Solid Progress in Strategic Business Development Balanced Categories Private Domain Awards & Recognitions Baozun is the only service partner that is top-listed in both Alibaba Tmall and Tencent mini-program e-commerce ecosystem Luxury Outdoor Lifestyle Cosmetics Omni-channel Breakthrough 40% brand p
Slide 6: Brand Management Achievement
Brand Management Achievement Category Coverage Channel Coverage Apparel & Accessory Empowered Strong Growth Momentum Health & Beauty +51% YoY GMV growth in 1H22 for 7 brands in brand management portfolio 5
Slide 7: Committed to Sustainable Growth
Committed to Sustainable Growth Released Second Annual ESG Report in May 2022 Released Carbon Neutrality White Paper in June 2022 50% carbon emission reduction by 2030 compared with 2021 baseline Full carbon neutrality by 2050 Co-launching a used-shoes recycling program with brand partner 6
Slide 8: Topline Momentum
Topline Momentum Total GMV (1) Total Net Revenues RMB mn RMB mn 9,396 71,054 8,852 7,278 55,688 5,523 4,945 44,410 5,393 40,084 3,856 66,718 4,325 4,149 4,106 29,426 28,968 51,353 2,876 23,086 1,891 40,561 2,381 19,112 38,541 2,731 2,304 15,727 2,122 26,524 26,800 3,907 3,874 22,308 3,422 1,332 16,4
Slide 9: 2Q22 Revenue Breakdown
2Q22 Revenue Breakdown Revenue YoY Growth by Service Segment Revenue Breakdown by Service Segment Online Store Operations -20% Digital Marketing & IT Solutions 21% Appliance 18% Online Store Apparel and Operations Warehousing and Fulfillment 20% accessories 11% 50% Electronics 5% Cosmetics Warehousi
Slide 10: Gross Margin
Gross Margin Cost of Products Gross profit (1) RMB mn RMB mn 71% 72% 65% 65% 70.0% 62% 62% 62% 62% 54% 6,120 50.0% 5,525 30.0% 4,504 10.0% 3,358 3,326 3,277 2,908 2,774 2,688 2,231 -10.0% 1,917 2,035 1,637 1,490 1,520 1,198 -30.0% 815 602 -50.0% 2017 2018 2019 2020 2021 1H2021 1H2022 2Q 2021 2Q 2022
Slide 11: 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 2Q2022) • Efficiency improvement • Savings in customer services as regional 10.4% 10.3% Fulfillment 725MM service centers ramping up 0.6% 0.5% 9.3% YoY GMV% 3
Slide 12: 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% 7.0% 10.0% 6.3% 6.5% 6.4% 6.1% 6.7% 10.0% 5.5% 4.9% 5.0% 2.4% 2.2% 2.3% 669 1.3% 0.2% 0.5% 0.0% 536 0.0% -10.0% -10.0% 460 433 347 358 -20.0% -20.0% 315 268 224 237 -30.0% 217 215 -30.0% 162
Slide 13: Revenue Walk 2Q21 vs 2Q22
Revenue Walk 2Q21 vs 2Q22 Net Revenues Bridge (1) RMB Mn Stream of Online Store Operations 2Q21 Net Distribution Sportswear & Luxury Other Business Warehousing3 Digital Marketing 2Q22 Net Revenues Fashion Apparel Units and Fulfillment and IT Solutions Revenues (1) Except for the 2021 Q2 revenue and
Slide 14: Profits Walk 2Q21 vs 2Q22
Profits Walk 2Q21 vs 2Q22 Non-GAAP Operating Profit Bridge (1) RMB Mn Strategic investment breakdown Others, 2 Stream of Online Store Operations COVID Brand Employee Management, Care & 5 Protection cost, 3 Overseas Expansion ,4 2Q21 Non- Distribution Sportswear & Luxury Other Business Warehousing Di
Slide 15: Continuing Cost Transformation
Continuing Cost Transformation Expand Regional Service Centers 01 • Diversify operations into regional service centers • Select more cities for next phase of expansion Increase Automation and Business Process Re-engineering 02 • Centralized operating platform • New automation & intelligent tools to
Slide 16: Cash Flow Walk 1Q22 vs 2Q22
Cash Flow Walk 1Q22 vs 2Q22 RMB Mn 31/03/2022 Operating Investing Financing – Financing – Financing – Foreign 30/06/2022 Cash Cash & Cash Share Convertible Bond Short-term Loan Exchange & Cash Equivalent Buyback Buyback Equivalent Balance (1) Balance (1) (1) Including cash, cash equivalents and rest
Slide 17: Q&A
Q&A 16
Slide 18: Appendix
Appendix
Slide 19: 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 2019 2020 2021 2021 2022 2021 2022 Product sales 3,422,151 3,906,611 3,873,589 1,943,919 1,374,741 972,077 69
Slide 20: 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 2019 2020 2021 2021 2022 2021 2022 Income (loss) from operations 383,653 558,677 7,021 159,545 (64,525) 106,634 (23,355) Add: Shar
Slide 21: 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 2019 2020 2021 2022 ASSETS Cash and cash equivalents 1,144,451 3,579,665 4,606,545 3,114,597 Restricted cash 382,359 151,354 93,219 22,171 Accounts rece
Slide 22: Thank You!
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