Vipshop (VIPS) 3Q16 RESULTS: TOP-LINE GROWTH IN LINE, WHILE EARNINGS MISS ON NEW INVESTMENTS

Executive Summary

• Vipshop, the Chinese online discount retailer for branded products, reported 3Q revenue of ¥0 billion (US$1.8 billion), up 38.4% year over year. Non-GAAP diluted earnings per ADS were ¥1.00 for the quarter, up 31.6% year over year.
• Total active customers increased 43% to reach 20.8 million, and total orders increased 34% year over year to 60.1 million, increasing at a lower rate than revenue.
• Vipshop guided for 4Q net revenue of ¥0-18.5 billion, representing growth of approximately 30-33%, year over year.