Baozun Inc (BZUN)
NASDAQ:BZUN
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Baozun
(NASDAQ:BZUN)
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Rating:45Neutral
Price Target:
$3.00
▲(19.05% Upside)
Action:ReiteratedDate:11/26/25
Baozun's overall stock score is primarily influenced by its financial performance and technical analysis. While the company shows revenue growth, profitability and cash flow issues are significant concerns. Technical indicators suggest bearish momentum, further impacting the score. Valuation challenges, including a negative P/E ratio, also weigh on the overall assessment.
Positive Factors
Revenue Growth
Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term expansion.
Negative Factors
Profitability Challenges
Persistent profitability issues indicate challenges in cost management, potentially hindering long-term financial health.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term expansion.
Read all positive factors
Baozun (BZUN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$141.72M
Dividend YieldN/A
Average Volume (3M)309.05K
Price to Earnings (P/E)―
Beta (1Y)0.99
Revenue Growth6.20%
EPS Growth9.12%
CountryUS
Employees7,650
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)-1.31
Shares Outstanding58,094,833
10 Day Avg. Volume538,775
30 Day Avg. Volume309,054
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)0.30
Price to Sales (P/S)0.13
P/FCF Ratio-11.10
Enterprise Value/Market Cap15.75
Enterprise Value/Revenue0.23
Enterprise Value/Gross Profit0.46
Enterprise Value/Ebitda82.98
Forecast
1Y Price Target
$3.98Price Target Upside57.94% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)3
Revenue Forecast (FY)$10.52B
Baozun Business Overview & Revenue Model
Company Description
Baozun Inc., through its subsidiaries, provides e-commerce solutions to brand partners in the People's Republic of China. The company offers IT infrastructure setup and integration, online store design and setup, online store operations, visual me...
How the Company Makes Money
Baozun generates revenue through a variety of streams, primarily by charging brands for its e-commerce solutions and services. These include setup fees for online stores, ongoing service fees for managing operations, performance-based commissions ...
Baozun Earnings Call Summary
Earnings Call Date:Mar 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 21, 2026
Earnings Call Sentiment Positive
The call presented a clear improvement in profitability, margin expansion and cash generation, highlighted by a 91% YoY increase in quarterly non-GAAP operating profit, substantial gross margin improvements, BBM achieving its first quarterly breakeven and operating cash flow tripling. Offsetting these positives are a one-time RMB 230 million investment impairment, increased sales & marketing spend, and modest e-commerce top-line growth coupled with execution risks from AI-driven platform shifts and international expansion still being nascent. On balance the operational and financial progress—particularly margin and cash-flow gains—outweigh the negatives, but execution of the stated growth and AI initiatives will be critical to sustain momentum.Positive Updates
Quarterly Revenue Growth
Group revenue for Q4 FY2025 increased 6% year-over-year to RMB 3.2 billion; full-year 2025 revenue was RMB 9.9 billion, up 6% YoY.
Negative Updates
Significant Investment Impairment
The company recorded a GAAP investment impairment loss of RMB 230 million in the quarter related to pre-investments in the e-commerce sector and certain equity investments, weighing on GAAP results.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly Revenue Growth
Group revenue for Q4 FY2025 increased 6% year-over-year to RMB 3.2 billion; full-year 2025 revenue was RMB 9.9 billion, up 6% YoY.
Read all positive updates
Company Guidance
Management guided to accelerate from rebuilding to scaling, targeting group non‑GAAP operating profit of RMB 550 million by 2028 and expecting 2026 to be a positive year (aiming for positive net income to ordinary shareholders); they project 2026 non‑GAAP operating profit to be roughly double 2025’s level. Near‑term revenue guidance is single‑digit growth for BEC and continued double‑digit growth for BBM (Gap guided ~20% revenue growth in 2026, accelerating to ~25–30% in 2027–28), with BBM aiming annual GAAP operating breakeven in 2026 and ~150 bps of operating‑profit improvement per year thereafter; BBM will accelerate store expansion (29 Gap stores added in 2025 to 164 total, 177 total BBM stores, with ~50 new Gap stores planned for 2026). Management reiterated balance‑sheet strength (cash, equivalents, restricted cash and short‑term investments RMB 2.8 billion; 2025 operating cash flow RMB 420 million, +315% YoY), emphasized margin expansion (historic improvements: group product gross margin 36.5% +640 bps; e‑commerce product margin 18.4% +760 bps; BBM margin 52.1% +170 bps) and said AI and efficiency programs—focused on bottom‑line automation rather than clear top‑line AI monetization today—will be prioritized with talent and targeted investment.Baozun Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.77B | 9.42B | 8.81B | 8.40B | 9.40B | 8.85B |
| Gross Profit | 4.81B | 4.49B | 3.90B | 3.42B | 3.46B | 3.27B |
| EBITDA | 26.90M | 190.85M | 75.95M | -326.85M | 109.78M | 669.29M |
| Net Income | -204.01M | -185.20M | -278.42M | -653.29M | -219.83M | 425.99M |
Balance Sheet | ||||||
| Total Assets | 9.79B | 10.21B | 10.46B | 9.98B | 12.30B | 10.45B |
| Cash, Cash Equivalents and Short-Term Investments | 2.53B | 2.92B | 3.07B | 3.10B | 4.69B | 5.17B |
| Total Debt | 2.40B | 2.52B | 2.75B | 2.38B | 3.98B | 2.79B |
| Total Liabilities | 4.27B | 4.43B | 4.62B | 4.38B | 5.83B | 4.32B |
| Stockholders Equity | 3.70B | 3.91B | 4.09B | 4.03B | 4.89B | 6.10B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -106.99M | 283.25M | 175.65M | -381.69M | 198.96M |
| Operating Cash Flow | 0.00 | 101.28M | 448.25M | 382.61M | -96.11M | 310.01M |
| Investing Cash Flow | 0.00 | -817.61M | -340.37M | -1.31B | 375.82M | -616.37M |
| Financing Cash Flow | 0.00 | -19.74M | -8.03M | -1.65B | 749.95M | 2.67B |
Baozun Technical Analysis
Positive
2.52
Price Trends
2.52
Negative
2.69
Negative
2.98
Negative
Market Momentum
-0.04
Negative
55.85
Neutral
71.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BZUN, the sentiment is Positive. The current price of 2.52 is above the 20-day moving average (MA) of 2.32, below the 50-day MA of 2.52, and below the 200-day MA of 2.98, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 55.85 is Neutral, neither overbought nor oversold. The STOCH value of 71.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BZUN.
Baozun Risk Analysis
Baozun disclosed 114 risk factors in its most recent earnings report. Baozun reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
We may incur impairment charges for our goodwill. Q4, 2023
2.
Our plans to innovate, expand our product offerings and successfully implement our growth strategies may not be successful, and implementation of these plans may divert our operational, managerial and administrative resources, which could harm our competitive position and reduce our revenue and profitability. Q4, 2023
3.
We are subject to changing laws and regulations regarding regulatory matters, corporate governance and public disclosure that have increased both our costs and the risk of non-compliance. Q4, 2023
Baozun Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $7.40B | 8.74 | 17.98% | 2.46% | -2.97% | -8.57% | |
69 Neutral | $254.35B | 36.81 | 8.82% | 1.31% | 5.14% | 50.76% | |
67 Neutral | $41.45B | 14.55 | 8.57% | 3.37% | 16.54% | -3.61% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | $4.97B | 33.41 | -15.36% | ― | 1.98% | -20.98% | |
53 Neutral | $34.64B | 206.19 | 4.52% | ― | 16.63% | -62.54% | |
45 Neutral | $141.72M | -7.20 | -6.45% | ― | 6.20% | 9.12% |
* Consumer Cyclical Sector Average
BZUN
Baozun
2.52
0.08
3.28%
VIPS
Vipshop
15.00
1.39
10.21%
JD
JD
28.46
-8.35
-22.68%
BABA
Alibaba
122.05
7.43
6.48%
ETSY
Etsy
51.64
7.22
16.25%
CPNG
Coupang
18.95
-1.11
-5.53%
Baozun Corporate Events
Baozun Reports December 2025 Share Capital Movements and RSU-Driven Share Increase
Jan 6, 2026
On January 6, 2026, Baozun Inc. filed a Form 6-K in the United States and submitted a monthly return to the Hong Kong Stock Exchange reporting movements in its share capital for the month ended December 31, 2025. The filing shows that while the co...
Baozun Reports November 2025 Share Capital Movements
Dec 3, 2025
On December 3, 2025, Baozun Inc. submitted a monthly return form to The Stock Exchange of Hong Kong Limited, detailing movements in its authorized share capital and issued shares for November 2025. The report highlighted that there were no changes...
Baozun Inc. Schedules Board Meeting to Approve Q3 2025 Financial Results
Nov 12, 2025
Baozun Inc. announced that its board of directors will hold a meeting on November 25, 2025, to approve the company’s unaudited financial results for the third quarter ended September 30, 2025. The results will be published on the same day, w...
Baozun Reports October 2025 Share Capital Movements
Nov 7, 2025
Baozun Inc. announced a submission to The Stock Exchange of Hong Kong Limited detailing movements in its authorized share capital and issued shares for October 2025. The report, submitted on November 6, 2025, highlights that there was no change in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.