Company data sheet · Baozun
Baozun: five lost years, and the economy wasn't the reason.
- Industry
- Catalog & Mail-Order Houses
- Headquarters
- China
- Ticker
- BZUN (Nasdaq)
- Sources
- SEC filings (2014–2026), Stratrix's verified Decision Cases, market data and official economic statistics for China
- Data as of
- October 18, 2026
- From profit to five straight losses. Baozun earned CN¥1 billion in 2018–2020. Then it lost money every year from 2021 to 2025: CN¥1.6 billion in all.
- It wasn't the cycle. The losses began in 2021, a year China economy grew 9.3%. When a company falls while its economy grows, look inside the company first.
- Ahead of almost everyone like it. From 2016 to 2025, its revenue grew 178% in US dollars; the median among 117 large retailers grew 63%. It outgrew 85% of them.
Financial results
| Fiscal year | Revenue | Net income | |
|---|---|---|---|
| 2016 | CN¥3.4 billion | CN¥0.1 billion | |
| 2017 | CN¥4.1 billion | CN¥0.2 billion | |
| 2018 | CN¥5.4 billion | CN¥0.3 billion | |
| 2019 | CN¥7.3 billion | CN¥0.3 billion | |
| 2020 | CN¥8.9 billion | CN¥0.4 billion | |
| 2021 | CN¥9.4 billion | −CN¥0.2 billion | |
| 2022 | CN¥8.4 billion | −CN¥0.7 billion | |
| 2023 | CN¥8.8 billion | −CN¥0.3 billion | |
| 2024 | CN¥9.4 billion | −CN¥0.2 billion | |
| 2025 | CN¥9.9 billion | −CN¥0.2 billion |
As reported in its annual filings, in CNY. Losses in red.
The full data sheet · Data Plan
Everything behind these findings, ready for your board deck.
- Economic context: 3 measures for China, every year since 2016, from the official sources.
- Peer comparison: against 224 companies of its size in its sector.
- Financial results: ten years of revenue, operating and net income, and every annual report, linked.
- Methods and sources, so each number can be checked and cited.
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