On May 20 of Beijing time, Vipshop (VIPS:NYSE) released its financial results for the first quarter of 2021.
During the first quarter of 2021, Vipshop posted revenue of CNY 28.4 billion with a year-over-year increase of 51.1%. The gross profit rose by 54.7% to CNY to CNY 5.6 billion, and the net income went up by 125.7% to CNY 1.5 billion. The GMV reached CNY 46.1 billion with a year-on-year growth of 59%, active users also went up by 54% to 45.8 million, the total orders increased by 44% to 176 million.
The company also forecasted that the revenue will grow by 20% to 25% to CNY 29.9 billion to 30.1 billion in the second quarter of 2021.
However, Vipshop's stock price tumbled by 11.34%, closed at USD 21.89, on the day it released the financial results, May 19 of Eastern time of US. Some analysts explained that the plunge might be the below-expectation of the operation forecasts by the company for the next quarter. The market expects the revenue to reach CNY 30.6 billion.