Page 1

唯 品 会 vip.com Vipshop Reports Unaudited Second Quarter 2021 Financial Results Conference Call to Be Held at 7:30 A.M. U.S. Eastern Time on August 18 , 2021 Guangzhou , China , August 18 , 2021 Vipshop Holdings Limited ( NYSE : VIPS ) , a leading online discount retailer for brands in China ( " Vipshop " or the " Company " ) , today announced its unaudited financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Highlights Total net revenue for the second quarter of 2021 increased by 22.8 % year over year to RMB29.6 billion ( US $ 4.6 billion ) from RMB24.1 billion in the prior year period . GMV¹ for the second quarter of 2021 increased by 25 % year over year to RMB48.1 billion from RMB 38.4 billion in the prior year period . Gross profit for the second quarter of 2021 increased by 20.6 % year over year to RMB6.0 billion ( US $ 922.6 million ) from RMB4.9 billion in the prior year period . Net income attributable to Vipshop's shareholders for the second quarter of 2021 was RMB 1.1 billion ( US $ 169.2 million ) , as compared with RMB1.5 billion in the prior year period . Non - GAAP net income attributable to Vipshop's shareholders for the second quarter of 2021 increased by 11.3 % year over year to RMB 1.5 billion ( US $ 227.6 million ) from RMB1.3 billion in the prior year period . The number of active customers³ for the second quarter of 2021 increased by 32 % year over year to 51.1 million from 38.8 million in the prior year period . Total orders for the second quarter of 2021 increased by 30 % year over year to 221.5 million from 170.5 million in the prior year period . 1 " Gross merchandise value ( GMV ) " is defined as the total Renminbi value of all products and services sold through the Company's online sales business , online marketplace platform , offline stores , Shan Shan Outlets and city outlets during the relevant period , including through the Company's websites and mobile apps , third - party websites and mobile apps , Vipshop offline stores and Vipmaxx offline stores , as well as Shan Shan Outlets and city outlets that were fulfilled by either the Company or its third - party merchants , regardless of whether or not the goods were delivered or returned . GMV includes shipping charges paid by buyers to sellers . For prudent considerations , the Company does not consider products or services to be sold if the relevant orders were placed and canceled pre - shipment and only included orders that left the Company's or other third - party vendors ' warehouses . ² Non - GAAP net income attributable to Vipshop's shareholders is a non - GAAP financial measure , which is defined as net income attributable to Vipshop's shareholders excluding ( i ) share - based compensation expenses , ( ii ) impairment loss of investments , ( iii ) investment gain and revaluation of investments excluding dividends , ( iv ) share of loss ( gain ) in investment of limited partnerships that are accounted for as equity method investees , ( v ) amortization of intangible assets resulting from business acquisitions , and ( vi ) tax effects on non - GAAP adjustments . 3 " Active customers " is defined as registered members who have purchased from the Company's online sales business or the Company's online marketplace platforms at least once during the relevant period . 4 " Total orders " is defined as the total number of orders placed during the relevant period , including the orders for products and services sold through the Company's online sales business and the Company's online marketplace platforms ( excluding , for the avoidance of doubt , orders from the Company's offline stores and outlets ) , net of orders returned . 1