China's Vipshop Q4 revenue dips, profit rises as costs drop

Vipshop Holdings

26/02/2026 10:08

Overview

China online discount retailer's Q4 revenue fell slightly yr/yr

Q4 net income rose 5.8% yr/yr

Company returned US$944.1 mln to shareholders in 2025

Outlook

Vipshop expects Q1 2026 revenue between RMB26.3 bln and RMB27.6 bln

Company aims to drive growth through AI and strategic investments

Result Drivers

AI ENHANCEMENTS - Vipshop leveraged AI-driven enhancements to improve operational efficiency and customer experience, according to CEO Eric Shen

COST MANAGEMENT - Decrease in operating expenses contributed to profitability, as operating expenses fell 3.7% yr/yr

STRATEGIC REALIGNMENT - Focus on strategic realignment and operational resilience laid foundation for long-term growth, per CEO Eric Shen

Company press release: ID:nPn9p1lNqa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
RMB 32.5 bln
Q4 Adjusted Net Income
RMB 2.9 bln
Q4 GMV
RMB 66.6 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 11 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the online services peer group is "buy"

Wall Street's median 12-month price target for Vipshop Holdings Ltd is $20.00, about 12.7% above its February 25 closing price of $17.75

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)