Vipshop Holdings Ltd ADR

VIPS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Vipshop Earnings: Raising Valuation by 8% on Faster Recovery and Growth in Higher-Margin Businesses

Chelsey Tam

May 21, 2025

Vipshop's first-quarter gross merchandise value was flat year on year, while revenue fell 5% and non-GAAP net income dropped 11%. Management expects positive GMV growth in the second half, implying sequential improvement, and 2025 net margin "largely comparable" with 2024.

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Vipshop Holdings Ltd ADR

Vipshop Earnings: Raising Valuation by 8% on Faster Recovery and Growth in Higher-Margin Businesses

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