Financial Statements — BZUN
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 0.91 | 1.29 | 0.30 | 2.14 | 0.72 | 3.58 | 0.16 |
| Short-term Investments | 1.75 | 1.27 | 0.72 | 0.13 | -- | 0.22 | 0.12 |
| Accounts Receivable | 2.17 | 2.03 | 2.18 | 2.29 | 2.26 | 2.19 | 0.26 |
| Inventory | 0.88 | 1.12 | 1.05 | 0.94 | 1.07 | 0.16 | 0.90 |
| Total Current Assets | 6.80 | 7.21 | 7.29 | 7.40 | 1.44 | 9.16 | 5.69 |
| Property, Plant & Equipment | 0.11 | 0.82 | 0.85 | 0.10 | 0.65 | 0.43 | 0.42 |
| Goodwill | 0.04 | 0.36 | 0.31 | 0.34 | 0.40 | 0.01 | 0.01 |
| Intangible Assets | 0.32 | 0.36 | 0.04 | 0.31 | 0.40 | 0.15 | 0.02 |
| Total Non-current Assets | 2.89 | 2.99 | 3.18 | 2.73 | 0.49 | 1.32 | 0.20 |
| Total Assets | 1.39 | 10.21 | 10.47 | 1.47 | 1.93 | 10.47 | 7.10 |
| Accounts Payable | 0.47 | 0.62 | 0.56 | 0.47 | 0.49 | 0.42 | 0.88 |
| Short-term Debt | 1.21 | 1.22 | 1.12 | 0.15 | 0.36 | -- | 0.43 |
| Total Current Liabilities | 3.65 | 3.75 | 0.53 | 0.53 | 4.78 | 2.20 | 2.32 |
| Long-term Debt | -- | -- | -- | -- | 0.00 | 1.76 | 1.86 |
| Total Non-current Liabilities | 0.55 | 0.09 | 0.12 | 0.11 | 1.06 | 0.33 | 0.31 |
| Total Liabilities | 4.20 | 4.43 | 4.62 | 4.45 | 0.92 | 0.66 | 4.50 |
| Retained Earnings | (0.13) | (0.09) | (0.51) | (0.23) | 0.43 | 0.95 | 0.53 |
| Total Stockholder Equity | 3.64 | 3.91 | 4.10 | 0.59 | 0.77 | 0.94 | 0.37 |
Income Statement
(in billions USD) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 9.95 | 9.42 | 8.81 | 1.22 | 1.47 | 1.36 | 1.05 |
| Cost of Revenue | 2.58 | 2.47 | 0.34 | 0.33 | 3.28 | 0.51 | 2.77 |
| Gross Profit | 1.05 | 0.95 | 0.90 | 0.89 | 0.96 | 0.85 | 0.65 |
| Selling, General & Admin | 0.11 | 0.72 | 0.12 | 0.37 | 0.53 | 0.22 | 0.22 |
| Total Operating Expenses | 7.31 | 0.97 | 0.93 | 0.89 | 0.96 | 0.76 | 4.12 |
| Operating Income | 0.06 | (0.11) | (0.03) | 0.00 | 0.00 | 0.56 | 0.06 |
| Interest Expense | -- | -- | 0.04 | 0.06 | 0.06 | 0.01 | 0.01 |
| Pretax Income | (0.03) | (0.09) | (0.03) | (0.08) | (0.02) | 0.55 | 0.05 |
| Tax Provision | 0.00 | 0.02 | 0.01 | 0.00 | 0.01 | 0.13 | 0.01 |
| Net Income | (0.03) | (0.19) | (0.04) | (0.65) | (0.03) | 0.43 | 0.28 |
| Basic EPS | (1.40) | (1.03) | (0.22) | (0.52) | (1.02) | 2.27 | 0.23 |
| Diluted EPS | (1.40) | (1.03) | (1.56) | (0.52) | (1.02) | 2.23 | 0.23 |
Cash Flow Statement
(in millions USD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | 420.43 | 101.28 | 63.14 | 55.47 | (15.08) | 47.51 | 43.29 |
| Capital Expenditures | 106.54 | 132.11 | 165.01 | 206.96 | 285.59 | 17.02 | 91.27 |
| Free Cash Flow* | 313.89 | (30.83) | (101.87) | (151.48) | (300.67) | 30.49 | (47.97) |
| Investing Cash Flow | (128.50) | (817.61) | (340.37) | (189.45) | 58.98 | (94.46) | (162.81) |
| Financing Cash Flow | (107.49) | (19.74) | (1.13) | (239.29) | 117.68 | 2,666.84 | 1,776.89 |
* Derived from reported values
