E-Commerce Services Firm Baozun Applies for Conversion to Dual Primary Listing
On August 23, Chinese e-commerce services provider Baozun Inc. issued an announcement on its voluntarily application for a conversion to a dual primary listing, with the effective date expected to be November 1, 2022.
Founded in 2007, the firm is a professional and integrated e-commerce services provider for brand enterprises and retailers, focused on marketing and IT services, warehousing and distribution, and customer service. The firm’s business covers mainstream Chinese online shopping platforms such as Tmall, JD.com, WeChat mini programs and Douyin e-commerce, as well as the construction of well-known overseas online shopping platforms such as Lazada and Shopee.
Commercial data platform Tianyancha shows that in January 2010, the company secured millions of dollars in A-round financing from Alibaba. In March 2011, it received tens of millions of dollars in B-round financing jointly invested by Alibaba and New Access Capital. In January 2013, the company bagged tens of millions of dollars in C-round financing from Infinity Group.
The company successfully listed in the United States on May 21, 2015. On September 29, 2020, it was listed on the Hong Kong Stock Exchange (HKEx), realizing its secondary listing.
On August 23, the firm also released its second-quarter performance report, showing that the company’s total net revenue in the second quarter was 2.122 billion yuan ($310 million), a year-on-year decrease of 7.9%. The net loss attributable to ordinary shareholders of the company was 77.8 million yuan ($11.35 million).
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In the second quarter of 2022, the GMV of the firm was 23.086 billion yuan ($3.37 billion), a year-on-year increase of 46.8%. As an e-commerce brand, the company achieved fruitful results in helping customers carry out digital transformation during the second quarter. In addition, the firm’s intelligent customer service management system “S-ANY” can help customer service remotely. Through this system, the background team can immediately pay attention to consumer behavior changes, giving real-time feedback and improving its service quality.
