Vipshop Holdings Limited (VIPS), an online discount retailer for brands in China, reported that its net income attributable to shareholders for the first quarter of 2025 declined to RMB1.94 billion or US$267.73 million from RMB 2.32 billion in the prior year period. Net income per ADS for the first quarter of 2025 was RMB3.72 or US$0.51, compared with RMB4.18 in the prior year period.
Non-GAAP net income per ADS for the first quarter of 2025 was RMB4.43 or US$0.61, compared with RMB 4.66 last year.
Total net revenues for the first quarter of 2025 were RMB26.3 billion or US$3.6 billion, compared with RMB27.6 billion in the prior year period. For the second quarter of 2025, the company expects its total net revenues to be between RMB25.5 billion and RMB26.9 billion, representing a year-over-year decrease of approximately 0% to 5%.
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