Vipshop (VIPS) has released an update.
Vipshop Holdings Limited, a prominent Chinese online discount retailer, disclosed modest revenue growth with a 0.4% increase to RMB 27.6 billion in Q1 2024, alongside significant enhancements in profitability metrics. The company experienced a 24.6% surge in net income to RMB 2.3 billion, despite a slight reduction in active customers and total orders. These results reflect Vipshop’s strategic focus on high-margin categories and operational efficiency.
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