Vipshop Q2 FY26 net income more than doubled to RMB 4.3 billion; revenue falls 4.26% to RMB 24.7 billion
VIPS•Q2 results
- Vipshop posted Q2 2026 net income attributable to shareholders of RMB 4.31 billion, more than doubled year over year, lifted by a one-off gain.
- Net revenues fell 4.26% from a year earlier to RMB 24.71 billion, while income from operations slipped to RMB 1.52 billion.
- Non-GAAP net income attributable to shareholders sank to RMB 392.2 million from a year earlier due to a one-time withholding tax adjustment.
Operating metrics and guidance
- GMV edged down to RMB 50.6 billion; active customers declined to 42.3 million and total orders dropped to 182.4 million.
- Guidance sees Q3 net revenues of RMB 20.3 billion to RMB 21.4 billion, implying a 5% to 0% year-over-year decrease.
