Suning.com (09991) Q1 revenue increased by 15% year-on-year to 2.4 billion yuan, with core businesses fully recovering and growing.

On May 20, Baozun E-commerce (09991) released its first quarter performance report for 2026. The report shows that the company's net operating income for the quarter increased by 15% year-on-year to 2.4 billion RMB, achieving a high-quality start, with core businesses recovering and growing overall. The e-commerce sector performed well, turning losses into profits with total revenue reaching 1.9 billion RMB, a 10% year-on-year increase. Distributor revenue increased significantly by 21% year-on-year, and Non-GAAP operating profit turned positive. The brand management business showed strong growth, with net revenue reaching 540 million RMB, a 39% year-on-year increase, and GAP achieving profitability for the second consecutive quarter. In addition, the company's operating efficiency significantly improved, with the group's distributor gross profit increasing by 34% year-on-year and the turnover days of operating funds improving by 44% year-on-year. Non-GAAP operating profit increased by 112% year-on-year.