Baozun’s Profitability Challenge: A Tale of Two Business Segments

Baozun US06684L1035

Chinese e-commerce services provider Baozun finds itself navigating turbulent waters following its latest quarterly earnings release. The company’s financial performance presents investors with a complex puzzle: respectable revenue growth coexisting with persistent net losses, creating significant pressure on its stock performance.

Baozun reported net revenue of 2.16 billion RMB ($302.9 million) for the third quarter of 2025, representing a 4.8% year-over-year increase that narrowly exceeded analyst expectations of 2.14 billion RMB. However, beneath this surface achievement lies a more troubling reality. The company’s net loss attributable to ordinary shareholders expanded to 107.1 million RMB ($15.0 million), worsening from the 88.1 million RMB loss recorded during the same period last year.