In the third quarter of 2022, vipshop achieved net revenue of USD 21.6 billion, a decrease of 13% from USD 24.9 billion in the same quarter last year. The Company's Non-GAAP net income was USD 1.6 billion, an increase of 55% year-over-year.
Vipshop Holdings Limited (Chinese:唯品会, NYSE: VIPS) reported the unaudited third quarter 2022 financial results on November 22.
Vipshop is a leading online discount retailer for brands in China. The Company offers high quality and popular branded products to consumers throughout China at a significant discount from retail prices. As compared to conventional on-line marketplaces or large-scale multi-category online retailers, Vipshop has successfully created a third e-commerce model and proven that it can provide tremendous scale and profitability.
The following is vipshop's third quarter 2022 highlights:
Total net revenues for the third quarter of 2022 were CNY 21.6 billion (USD 3.0 billion), as compared with CNY 24.9 billion in the prior year period.
GMV for the third quarter of 2022 was CNY 37.6 billion, as compared with CNY40.2 billion in the prior year period.
Gross profit for the third quarter of 2022 was CNY4.7 billion (USD 658.3 million), as compared with CNY4.8 billion in the prior year period.
Net income attributable to Vipshop's shareholders for the third quarter of 2022 increased by 168.4% year over year to CNY1.7 billion (USD 237.1 million) from CNY 628.4 million in the prior year period.
Non-GAAP net income attributable to Vipshop's shareholders for the third quarter of 2022 increased by 55.0% year over year to CNY 1.6 billion (USD 224.2 million) from CNY 1.0 billion in the prior year period.
The number of active customers for the third quarter of 2022 was 41.0 million, as compared with 43.9 million in the prior year period.
Total orders for the third quarter of 2022 were 168.3 million, as compared with 172.9 million in the prior year period.
As of press time, Vipshop closed at USD 9.22 apiece, with a market cap of USD 5.63 billion.