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Baozun Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results

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SHANGHAI, March 20, 2025 /PRNewswire/ — Baozun Inc. (Nasdaq: BZUN and HKEX: 9991) (“Baozun”, the “Company” or the “Group”), a leading brand e-commerce solution provider and digital commerce enabler in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024.

Mr. Vincent Qiu, Chairman and Chief Executive Officer of Baozun, commented, “I am pleased that Baozun’s three-year transformation continues with strong momentum, as both BEC and BBM segments return to topline growth alongside bottom-line improvements. In the fourth quarter of 2024, we achieved 8% year-over-year revenue growth and remarkable growth in operating profit. With technology as our backbone, we drive digital innovations and AI applications to enhance efficiency, streamline omni-channel operations, and improve content creation for sustainable growth. As 2025 marks the transformation’s culmination, we remain committed to accelerating this shift, fostering an entrepreneurial, innovative and customer-centric approach to drive quality growth.”

Ms. Catherine Zhu, Chief Financial Officer of Baozun Inc., commented, “Baozun delivered solid topline growth in the fourth quarter of 2024, with E-Commerce revenue increasing by 6% and Brand Management revenue accelerating by 17% year-over-year. While investing in our strategic initiatives, we have also implemented comprehensive measures to enhance efficiency and optimize costs. These efforts drove a 16% increase in adjusted operating profits for our BEC segment and reduced adjusted operating loss for our BBM segment by 20% for the quarter. With healthy cash reserves, a continuing focus on financial discipline and innovation in technology, we remain confident in sustaining long-term profitability and growth.”

Fourth Quarter 2024 Financial Highlights

Total net revenues were RMB2,994.4 million (US$[1] 410.2 million), representing an increase of 7.7% compared with RMB2,780.4 million in the same quarter of last year.Income from operations was RMB73.2 million (US$10.0 million), an improvement from RMB6.4 million in the same quarter of last year. Operating margin was 2.4%, improved from 0.2% for the same period of 2023.Non-GAAP income from operations[2] was RMB103.3 million (US$14.2 million), an improvement of 36.6% from RMB75.7 million in the same quarter of last year. Non-GAAP operating margin was 3.5%, improved from 2.7% for the same period of 2023.Adjusted operating profit of E-Commerce[3] was RMB137.4 million (US$18.8 million), an improvement of 16.3% from RMB118.2 million for the same period of 2023.Adjusted operating loss of Brand Management[3] narrowed to RMB34.2 million (US$4.7 million), an improvement of 19.7% from RMB42.5million for the same period of 2023.Net income attributable to ordinary shareholders of Baozun was RMB0.1 million (US$0.02 million), compared with net loss attributable to ordinary shareholders of Baozun was RMB48.4 million for the same period of 2023.Non-GAAP net income attributable to ordinary shareholders of Baozun[4] was RMB45.7 million (US$6.3 million), an improvement of 58.9% from RMB28.8 million for the same period of 2023.  Basic and diluted net income attributable to ordinary shareholders of Baozun per American Depositary Share (“ADS[5]”) were both RMB0.00[6], compared with basic and diluted net loss attributable to ordinary shareholders of Baozun per American Depositary Share were both RMB0.80 for the same period of 2023.Diluted non-GAAP net income attributable to ordinary shareholders of Baozun per ADS[7] was RMB0.77 (US$0.11), compared with RMB0.47 for the same period of 2023.Cash and cash equivalents, restricted cash, and short-term investments totaled RMB2,915.9 million (US$399.5 million), as of December 31, 2024, compared with RMB3,072.8 million as of December 31, 2023.

Fiscal Year 2024 Financial Highlights

Total net revenues were RMB9,422.2 million (US$1,290.8million), representing an increase of 6.9% compared with RMB8,812.0 million in the fiscal year of 2023.Loss from operations was RMB114.8 million (US$15.7 million), improved from RMB206.4 million in the fiscal year of 2023. Operating margin was negative 1.2%, compared with negative 2.3% for the fiscal year of 2023.Non-GAAP income from operations was RMB10.6 million (US$1.5 million), compared with non-GAAP loss from operations RMB23.7 million for the fiscal year of 2023. Non-GAAP operating margin was 0.1%, compared with negative 0.3% for the fiscal year of 2023.Adjusted operating profit of E-Commerce was RMB179.6 million (US$24.6 million), an improvement of 9.5% from RMB164.0 million for the fiscal year of 2023.Adjusted operating loss of Brand Management narrowed to RMB168.8 million (US$23.1 million), an improvement of 10.1% from RMB187.7 million for the fiscal year of 2023.Net loss attributable to ordinary shareholders of Baozun was RMB185.2 million (US$25.4 million), improved from RMB278.4 million for the fiscal year of 2023.Non-GAAP net loss attributable to ordinary shareholders of Baozun was RMB40.4 million (US$5.5 million), improved from RMB65.1 million for the fiscal year of 2023.Basic and diluted net loss attributable to ordinary shareholders of Baozun per American Depositary Share (“ADS”) were both RMB3.09 (US$0.42), compared with both RMB4.68 for the fiscal year of 2023.Diluted non-GAAP net loss attributable to ordinary shareholders of Baozun per ADS was RMB0.67 (US$0.09), compared with RMB1.09 for the fiscal year of 2023.

Reconciliations of GAAP measures to non-GAAP measures presented above are included at the end of this results announcement.

Adjusted operating profits (losses) are included in the Segments data of Segment Information.

[1] This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.2993 to US$1.00, the noon buying rate in effect on December 31, 2024 as set forth in the H.10 Statistical Release of the Federal Reserve Board.

[2] Non-GAAP income (loss) from operations is a non-GAAP financial measure, which is defined as income (loss) from operations excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition, acquisition-related expenses, impairment of goodwill and cancellation fees of repurchased ADSs.

[3] Following the acquisition of Gap Shanghai, the Group updated its operating segment structure resulting in two segments, which were (i) E-Commerce; (ii) Brand Management, for more information, please refer to Supplemental Information.

[4] Non-GAAP net income (loss) attributable to ordinary shareholders of Baozun is a non-GAAP financial measure, which is defined as net income (loss) attributable to ordinary shareholders of Baozun excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition, acquisition-related expenses, impairment of goodwill and investments, other-than-temporary impairment of equity method investments, cancellation fees of repurchased ADSs, fair value gain on derivative liabilities, gain on disposal/acquisition of subsidiaries, and unrealized investment loss (gain).

[5] Each ADS represents three Class A ordinary shares.

[6] The amount is less than RMB 0.01.

[7] Diluted non-GAAP net income (loss) attributable to ordinary shareholders of Baozun per ADS are non-GAAP financial measures, which is defined as non-GAAP net income (loss) attributable to ordinary shareholders of Baozun divided by weighted average number of shares used in calculating diluted net income (loss) per ordinary share multiplied by three.

Business Highlights

Baozun e-Commerce, or “BEC”

BEC encompasses our China e-commerce businesses, including brand store operations, customer services, and value-added services in warehouse and logistics management, IT and digital marketing. During the quarter, total revenue from BEC increased by 6.0% year-over-year, primarily driven by higher demand from digital marketing and IT solutions. As of December 31, 2024, we served approximately 490 brand partners, compared to approximately 450 brand partners as of December 31, 2023. The increase in brand partners was mainly driven by greater engagement in our value-added services, aimed at enhancing the consumer experience.

Omni-channel expansion remains a key theme for our brand partners. By the end of the fourth quarter, approximately 48.8% of our brand partners engaged with us for store operations of at least two channels, compared to 44.7% at the end of same quarter of last year. For value-added services in warehouse and logistics management, IT and digital marketing, most brand partners engaged with us in an omni-channel basis, to enhance productivity and efficiency for their omni-channel development.

Baozun Brand Management, or “BBM”

The Company launched the BBM business line in 2023, to leverage its leading portfolio of technologies in service of brands, fostering deeper and longer relationships to drive sustainable business growth in China.

BBM provides holistic brand management, encompassing strategic and tactical positioning, branding and marketing, retail and e-commerce operations, supply chain and logistics, and technology enablement. We aim to leverage our portfolio of technologies to build longer and deeper relationships with brands. Currently, our Brand Management business line includes the Gap and Hunter brands. By the end of the fourth quarter of 2024, Gap and Hunter brands have 156 offline stores under our management.

Fourth Quarter 2024 Financial Results

Total net revenues were RMB2,994.4 million (US$410.2 million), an increase of 7.7% from RMB2,780.4 million in the same quarter of last year. The increase in total net revenues was driven by revenue growth in both the Company’s BEC and BBM business lines.

Total product sales revenue was RMB1,106.0 million (US$151.5 million), an increase of 5.0% compared with RMB1,053.0 million in the same quarter of last year, of which,

Product sales revenue of E-Commerce was RMB571.7 million (US$78.3 million), a decrease of 4.3% from RMB597.5 million in the same quarter of last year. The decrease was primarily attributable to lower sales from its brand portfolio under the distribution model in the appliances category, partially offset by the introduction of high-quality new distribution businesses.  

The following table sets forth a breakdown of product sales revenues of E-Commerce by key categories [8] for the periods indicated:

For the three months ended December 31,

2023

2024

 RMB 

% of
Net
Revenues

 RMB 

 US$ 

% of
Net
Revenues

YoY
Change

(In millions, except for percentage)

Product Sales of E-Commerce

Appliances

255.6

8 %

220.5

30.2

7 %

-14 %

Beauty and cosmetics

131.1

5 %

130.7

17.9

4 %

0 %

Home and furnishing

46.1

2 %

84.6

11.6

3 %

84 %

Others

164.7

6 %

135.9

18.6

5 %

-17 %

Total net revenues from product sales of E-Commerce

597.5

21 %

571.7

78.3

19 %

-4 %

 

[8] Key categories refer to the categories that accounted for no less than 10% of product sales of BEC during the periods indicated. 

Product sales revenue of Brand Management was RMB534.6 million (US$73.2 million), an increase of 17.3% from RMB455.5 million in the same quarter of last year. The increase was primarily driven by higher sales from the Gap brand, as the Company continued to optimize merchandising plans and enhance customer experience to boost sales in both its online and offline channels.

Services revenue was RMB1,888.5 million (US$258.7 million), an increase of 9.3% from RMB 1,727.4 million in the same quarter of last year. The increase was primarily attributable to a 16.2% year-over-year growth in online store operations, together with a 14.8% year-over-year growth in digital marketing and IT solutions, driven by content creation and technology monetization.

The following table sets forth a breakdown of services revenue by business models for the periods indicated:

For the three months ended December 31,

2023

2024

 RMB 

% of
Net
Revenues

 RMB 

 US$ 

% of
Net
Revenues

YoY
Change

(In millions, except for percentage)

Services revenue

Online store operations

511.8

18 %

594.8

81.5

20 %

16 %

Warehousing and fulfillment

704.8

25 %

705.7

96.7

24 %

0 %

Digital marketing and IT solutions

549.4

20 %

630.5

86.3

20 %

15 %

Inter-segment eliminations[9]

(38.6)

-1 %

(42.5)

(5.8)

-1 %

10 %

Total net revenues from services

1,727.4

62 %

1,888.5

258.7

63 %

9 %

Breakdown of total net revenues of online store operations of services revenue by key categories [10] for the periods indicated:

For the three months ended December 31,

2023

2024

 RMB 

% of
Net
Revenues

 RMB 

 US$ 

% of
Net
Revenues

YoY
Change

(In millions, except for percentage)

Online store operations in Services revenue 

Apparel and accessories

372.7

13 %

472.0

64.6

15 %

27 %

Luxury

123.2

4 %

126.9

17.3

4 %

3 %

Sportswear

133.9

5 %

157.6

21.6

5 %

18 %

Other apparel

115.6

4 %

187.5

25.7

6 %

62 %

Others

139.1

6 %

122.8

16.9

4 %

-12 %

Inter-segment eliminations[11]

(18.6)

-1 %

(14.6)

(2.0)

0 %

-22 %

Total net revenues from online store operations in services

493.2

18 %

580.2

79.5

19 %

18 %

 

[9] The inter-segment eliminations mainly consist of revenues from online store operations, digital marketing and IT services provided by E-Commerce to Gap, a brand under Brand Management.

[10] Key categories refer to the categories that accounted for no less than 10% of services revenue during the periods indicated. 

[11] The inter-segment eliminations mainly consist of revenues from store operation services provided by E-Commerce to Gap, a brand under Brand Management.

Total operating expenses were RMB2,921.2 million (US$400.2 million), compared with RMB2,774.0 million in the same quarter of last year.

Cost of products was RMB773.9 million (US$106.0 million), compared with RMB737.8 million in the same quarter of last year. The increase was primarily due to an increase in product sales volume.Fulfillment expenses were RMB768.9 million (US$105.3 million), compared with RMB768.0 million in the same quarter of last year. Fulfillment expenses remained flat, which is in line with the warehousing and fulfillment service revenue.Sales and marketing expenses were RMB1,041.4 million (US$142.7 million), compared with RMB892.4 million in the same quarter of last year. The increase was mainly due to higher revenue contributions from digital marketing services for BEC, as well as increased marketing activities and expenses associated with the expansion of offline stores for BBM during the quarter.Technology and content expenses were RMB146.6 million (US$20.1 million), compared with RMB140.8 million in the same quarter of last year. As the Company continued to implement cost control and efficiency improvements initiatives, technology and content expenses remained flat, despite strong double-digit net revenues growth in IT solutions.General and administrative expenses were RMB191.8 million (US$26.3 million), a decrease of 16.1% compared with RMB228.7 million in the same quarter of last year. The decrease was primarily due to the Company’s cost control initiatives and efficiency improvements.

Income from operations was RMB73.2 million (US$10.0 million), significant improvement compared with RMB6.4 million in the same quarter of last year. The operating margin was 2.4%, compared with 0.2% in the same quarter of last year.

Non-GAAP income from operations was RMB103.3 million (US$14.2 million), an increase of 36.6% compared with RMB75.7 million in the same quarter of last year. Non-GAAP operating margin was 3.5%, an improvement from 2.7% in the same quarter of last year.

Adjusted operating profit of E-Commerce was RMB137.4 million (US$18.8 million), an improvement of 16.3% from RMB118.2 million in the same quarter of last year.Adjusted operating loss of Brand Management was RMB34.2 million (US$4.7 million), an improvement of 19.7% compared with RMB42.5million in the same quarter of last year.

Unrealized investment gain was RMB20.9 million (US$2.9 million), compared with an unrealized investment loss of RMB8.4 million in the same quarter of last year. The unrealized investment gain of this quarter was mainly related to the increase in the trading price of iClick Interactive Asia Group Limited, or iClick Interactive, a public company listed on the Nasdaq Global Market that the Company invested in January 2021.

Impairment loss of investments was RMB14.4 million (US$2.0 million), compared with nil in the same quarter of last year. The impairment loss of investments during the period was primarily associated with certain equity investees.

Fair value change on financial instruments was a gain of RMB17.7 million (US$2.4 million), compared with nil in the same quarter of last year. The fair value change on financial instruments is mainly comprised of the gain recognized from the financial instruments the Company invested in during the second quarter of 2024.

Exchange loss was RMB11.5 million (US$1.6 million), due to exchange rate fluctuation in the quarter ended December 31, 2024, compared to exchange gain of RMB0.7 million in the same quarter last year.

Net income attributable to ordinary shareholders of Baozun was RMB0.1 million (US$0.02 million), compared with net loss attributable to ordinary shareholders of Baozun RMB48.4 million in the same quarter of last year.

Basic and diluted net income attributable to ordinary shareholders of Baozun per ADS were both RMB0.00[12], compared with net loss of both RMB0.80 for the same period of 2023.

Non-GAAP net income attributable to ordinary shareholders of Baozun Inc. was RMB45.7 million (US$6.3 million), compared with Non-GAAP net loss attributable to ordinary shareholders of Baozun Inc. RMB28.8 million in the same quarter of last year.

Diluted non-GAAP net income attributable to ordinary shareholders of Baozun per ADS was RMB0.77 (US$0.11), compared with diluted non-GAAP net loss attributable to ordinary shareholders of Baozun per ADS was RMB0.47 for the same period of 2023.

[12] The amount is less than RMB 0.01.

Fiscal Year 2024 Financial Results

Total net revenues were RMB9,422.2 million (US$1,290.8 million), an increase of 6.9% from RMB8,812.0 million in fiscal year 2023. The increase in total net revenues was driven by revenue growth in both the Company’s E-Commerce and BBM business lines.

Total product sales revenue was RMB3,466.9 million (US$475.0 million), compared with RMB3,357.2 million in the fiscal year of 2023, of which,

Product sales revenue of E-Commerce was RMB1,999.6 million (US$273.9 million), a decrease of 4.4% from RMB2,092.2 million in the fiscal year of 2023. The decrease was primarily attributable lower sales from the brand portfolio under the distribution model in the appliances category, fast-moving consumer goods and electronics categories, due to the macro-economic weakness, as well as the Company’s optimization of its brand portfolio in distribution model. 

The following table sets forth a breakdown of product sales revenues of E-Commerce by key categories for the years indicated:

For the fiscal year ended December 31,

2023

2024

 RMB 

% of
Net
Revenues

 RMB 

 US$ 

% of
Net
Revenues

YoY
Change

(In millions, except for percentage)

Product Sales of E-Commerce

Appliances

936.3

11 %

852.5

116.8

9 %

-9 %

Beauty and cosmetics

378.2

4 %

397.3

54.4

4 %

5 %

Home and furnishing

169.9

2 %

201.9

27.7

2 %

19 %

Others

607.8

7 %

547.9

75.0

6 %

-10 %

Total net revenues from product sales of E-Commerce

2,092.2

24 %

1,999.6

273.9

21 %

-4 %

Product sales revenue of Brand Management was RMB1,469.6 million (US$201.3 million), an increase of 16.2% from RMB1,265.0 million in the fiscal year of 2023. The increase was primarily driven by higher sales from the Gap brand, as the Company continued to optimize its merchandising plans and enhance customer experience to boost sales in both its online and offline channels.

Services revenue was RMB5,955.3 million (US$815.9 million), an increase of 9.2% from RMB5,454.8 million in the fiscal year of 2023. The increase was primarily attributable to a 10.0% year-over-year growth in online store operations, together with a 22.2% year-over-year growth in digital marketing and IT solutions, driven by content creation and technology monetization.

The following table sets forth a breakdown of services revenue by business models for the years indicated:

For the fiscal year ended December 31,

2023

2024

 RMB 

% of
Net
Revenues

 RMB 

 US$ 

% of
Net
Revenues

YoY
Change

(In millions, except for percentage)

Services revenue

Online store operations

1,604.7

18 %

1,765.4

241.9

19 %

10 %

Warehousing and fulfillment

2,194.4

25 %

2,189.2

299.9

22 %

0 %

Digital marketing and IT solutions

1,735.8

20 %

2,120.9

290.6

23 %

22 %

Inter-segment eliminations[13]

(80.1)

-1 %

(120.2)

(16.5)

-1 %

50 %

Total net revenues from services

5,454.8

62 %

5,955.3

815.9

63 %

9 %

Breakdown of total net revenues of online store operations of services revenue by key categories for the years indicated:

For the fiscal year ended December 31,

2023

2024

 RMB 

% of
Net
Revenues

 RMB 

 US$ 

% of
Net
Revenues

YoY
Change

(In millions, except for percentage)

Online store operations in Services revenue 

Apparel and accessories

1,134.8

13 %

1,342.7

184.0

14 %

18 %

Luxury

406.4

4 %

407.0

55.8

4 %

0 %

Sportswear

419.1

5 %

487.1

66.7

5 %

16 %

Other apparel

309.3

4 %

448.6

61.5

5 %

45 %

Others

469.9

5 %

422.7

57.9

4 %

-10 %

Inter-segment eliminations[14]

(44.4)

-1 %

(55.2)

(7.6)

-1 %

24 %

Total net revenues from online store operations in services

1,560.3

17 %

1,710.2

234.3

17 %

10 %

 

[13] The inter-segment eliminations mainly consist of revenues from online store operations, digital marketing and IT services provided by E-Commerce to Gap, a brand under Brand Management.

[14] The inter-segment eliminations mainly consist of revenues from store operation services provided by E-Commerce to Gap, a brand under Brand Management.

Total operating expenses were RMB9,537.1 million (US$1,306.6 million), compared with RMB9,018.4 million in the fiscal year of 2023.

Cost of products was RMB2,473.8 million (US$338.9 million), compared with RMB2,409.1 million in the fiscal year of 2023. The increase was primarily due to an increase in product sales volume.Fulfillment expenses were RMB2,461.6 million (US$337.2 million), compared with RMB2,507.3 million in the fiscal year of 2023. The decrease was mainly due to the Company’s cost control initiatives and efficiency improvements.Sales and marketing expenses were RMB3,380.7 million (US$ 463.2 million), compared with RMB2,829.0 million in the fiscal year of 2023. The increase was mainly due to higher revenue contributions from digital marketing services for BEC, as well as increased marketing activities and expenses related to more offline stores for BBM during the year.Technology and content expenses were RMB550.3 million (US$75.4 million), compared with RMB505.2 million in the fiscal year of 2023. The increase was mainly due to more revenues from IT solutions during the year, partially offset by the Company’s cost control initiatives and efficiency improvements.General and administrative expenses were RMB719.2 million (US$98.5 million), compared with RMB855.9 million in the fiscal year of 2023. The decrease was primarily due to the Company’s cost control initiatives and efficiency improvements.

Loss from operations was RMB114.8 million (US$15.7 million), significantly improved compared with RMB206.4 million in the fiscal year of 2023. Operating margin was negative 1.2%, compared with negative 2.3% in the fiscal year of 2023.

Non-GAAP income from operations was RMB10.6 million (US$1.5 million), compared with non-GAAP loss from operations RMB23.7 million in the fiscal year of 2023. Non-GAAP operating margin was 0.1%, an improvement from negative 0.3% in the fiscal year of 2023.

Adjusted operating profit of E-Commerce was RMB179.6 million (US$24.6 million), an improvement of 9.5% from RMB164.0 million in the fiscal year of 2023.Adjusted operating loss of Brand Management was RMB168.8 million (US$23.1 million), an improvement of 10.1% compared with RMB187.7 million in the fiscal year of 2023.

Unrealized investment gain was RMB4.9 million (US$0.7 million), compared with an unrealized investment loss of RMB68.0 million in the fiscal year of 2023. The unrealized investment gain during the year was mainly related to the increase in the trading price of iClick Interactive Asia Group Limited, or iClick Interactive, a public company listed on the Nasdaq Global Market that the Company invested in January 2021.

Impairment loss of investments was RMB14.4 million (US$2.0 million), compared with nil in the fiscal year of 2023. The impairment loss of investments during the year was primarily associated with certain equity investees.

Fair value change on financial instruments was a gain of RMB11.8 million (US$1.6 million), compared with RMB24.5 million in the fiscal year of 2023. The fair value gain on financial instruments this year is mainly comprised of the gain recognized from the financial instruments the Company invested in during the second quarter of 2024, while the fair value gain on derivative liabilities last year was in connection with the equity contracts with a holder of non-controlling interest.

Exchange loss was RMB10.2 million (US$1.4 million), due to exchange rate fluctuation in the year ended December 31, 2024, compared to RMB8.5 million last year.

Net loss attributable to ordinary shareholders of Baozun narrowed to RMB185.2 million (US$25.4 million), an improvement from RMB278.4 million in the fiscal year of 2023.

Basic and diluted net loss attributable to ordinary shareholders of Baozun per ADS were both RMB3.09 (US$0.42 million), compared with both RMB4.68 in the fiscal year of 2023.

Non-GAAP net loss attributable to ordinary shareholders of Baozun Inc. was RMB40.4 million (US$5.5 million), compared with RMB65.1 million in the fiscal year of 2023.

Diluted non-GAAP net loss attributable to ordinary shareholders of Baozun per ADS was RMB0.67 (US$0.09), compared with RMB1.09 in the fiscal year of 2023.

Segment Information

(a) Description of segments

Following the acquisition of Gap Shanghai in February 2023, the Group updated its operating segments structure resulting in two segments, which were (i) E-Commerce and (ii) Brand Management;

The following summary describes the operations in each of the Group’s operating segment:

(i) E-Commerce focuses on Baozun traditional e-commerce service business and comprises two business lines, BEC (Baozun E-Commerce) and BZI (Baozun International).

a>  BEC includes our mainland China e-commerce businesses, such as brands’ store operations, customer services and value-added services in logistics and supply chain management, IT and digital marketing.

b>  BZI includes our e-commerce businesses outside of mainland China, including locations such as Hong Kong, Macau, Taiwan, South East Asia and Europe.

(ii) Brand Management engages in holistic brand management, encompassing strategic and tactical positioning, branding and marketing, retail and e-commerce operations, supply chain and logistics and technology enablement to leverage our portfolio of technologies to build into longer and deeper relationships with brands. Currently, the Company runs brand management operations for the Gap and Hunter brands in Greater China.

(b) Segments data

The table below provides a summary of the Group’s reportable segment results for the three months ended December 31, 2023 and 2024:

For the three months ended December 31,

2023

2024

RMB

RMB

Net revenues:

E-Commerce

2,361,066

2,501,781

Brand Management 

457,961

535,475

Inter-segment eliminations *

(38,612)

(42,811)

Total consolidated net revenues

2,780,415

2,994,445

Adjusted Operating Profits (Losses) **:

E-Commerce

118,190

137,433

Brand Management

(42,535)

(34,157)

Inter-segment eliminations *

41

Total Adjusted Operating Profits

75,655

103,317

Unallocated expenses:

Share-based compensation expenses

(24,667)

(15,171)

Amortization of intangible assets resulting from business acquisition   

(7,911)

(7,901)

Acquisition-related expenses

(1,467)

Cancellation fees of repurchased ADSs

(101)

Impairment of goodwill

(35,212)

(6,934)

Total other (expenses) income, net

(165)

21,315

Profit before income tax and share of income (loss) in equity method investment

6,233

94,525

The table below provides a summary of the Group’s reportable segment results for the fiscal years of 2023 and 2024:

For the fiscal year ended December 31,

2023

2024

RMB

RMB

Net revenues:

E-Commerce

7,621,114

8,070,271

Brand Management 

1,271,027

1,474,351

Inter-segment eliminations *

(80,128)

(122,393)

Total consolidated net revenues

8,812,013

9,422,229

Adjusted Operating Profits (Losses) **:

E-Commerce

163,990

179,622

Brand Management

(187,663)

(168,767)

Inter-segment eliminations *

(210)

Total Adjusted Operating Profits (Losses) 

(23,673)

10,645

Unallocated expenses:

Share-based compensation expenses

(103,449)

(81,601)

Amortization of intangible assets resulting from business acquisition   

(31,875)

(36,257)

Acquisition-related expenses

(12,171)

Cancellation fees of repurchased ADSs

(678)

Impairment of goodwill

(35,212)

(6,934)

Total other (expenses) income, net

(10,646)

21,838

Loss before income tax and share of income (loss) in equity method investment

(217,026)

(92,987)

 

*The inter-segment eliminations mainly consist of revenues from services provided by E-Commerce to Brand Management.

** Adjusted Operating (Losses) Profits represent segment (losses) profits, which is (loss) income from operations from each segment without allocating share-based compensation expenses, acquisition-related expenses and amortization of intangible assets resulting from business acquisition, cancellation fees of repurchased ADSs and impairment of goodwill.

Update in Share Repurchase Programs

On January 24, 2024, the Company’s board of directors (the “Board”) authorized the management to set up and implement a new share repurchase program under which the Company may repurchase up to US$20 million worth of its outstanding (i) American depositary shares (“ADSs”), each representing three Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from January 24, 2024. As of January 17, 2025, the Company repurchased approximately 5.3 million of ADSs for approximately US$14.7 million under its share repurchase program through the open market.

Conference Call

The Company will host a conference call to discuss the earnings at 7:30 a.m. Eastern Time on Thursday, March 20, 2025 (7:30 p.m. Beijing time on the same day).

Dial-in details for the earnings conference call are as follows:

United States:                         1-888-317-6003
Hong Kong:                             800-963-976
Singapore:                               800-120-5863
Mainland China:                       4001-206-115
International:                            1-412-317-6061
Passcode:                                3445230

A replay of the conference call may be accessible through March 27, 2025 by dialing the following numbers:

United States:                         1-877-344-7529
International:                           1-412-317-0088
Canada:                                   855-669-9658
Replay Access Code:              7399162

A live webcast of the conference call will be available on the Investor Relations section of Baozun’s website at http://ir.baozun.com. An archived webcast will be available through the same link following the call.

Use of Non-GAAP Financial Measures

The Company also uses certain non-GAAP financial measures in evaluating its business. For example, the Company uses non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net margin, non-GAAP net income (loss) attributable to ordinary shareholders of Baozun and diluted non-GAAP net income (loss) attributable to ordinary shareholders of Baozun per ADS, as supplemental measures to review and assess its financial and operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.

The Company defines non-GAAP income (loss) from operations as income (loss) from operations excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition, acquisition-related expenses, impairment of goodwill and cancelation fees of repurchased. The Company defines non-GAAP net income (loss) as net (loss) income excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition, acquisition-related expenses, impairment of goodwill and investments, other-than-temporary impairment of equity method investments, cancellation fees of repurchased ADSs, fair value gain on derivative liabilities, loss (gain) on disposal/acquisition of subsidiaries, and unrealized investment loss (gain). The Company defines non-GAAP net income (loss) attributable to ordinary shareholders of Baozun as net income (loss) attributable to ordinary shareholders of Baozun excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition, acquisition-related expenses, impairment of goodwill and investments, other-than-temporary impairment of equity method investments, cancellation fees of repurchased ADSs, fair value gain on derivative liabilities, loss (gain) on disposal/acquisition of subsidiaries, and unrealized investment loss (gain). The Company defines diluted non-GAAP net income (loss) attributable to ordinary shareholders of Baozun per ADS as non-GAAP net income (loss) attributable to ordinary shareholders of Baozun divided by weighted average number of shares used in calculating net income (loss) per ordinary share multiplied by three.

The Company presents the non-GAAP financial measures because they are used by the Company’s management to evaluate the Company’s financial and operating performance and formulate business plans. Non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net income (loss) attributable to ordinary shareholders of Baozun and Non-GAAP net income (loss) attributable to ordinary shareholders of Baozun per ADS reflect the Company’s ongoing business operations in a manner that allows more meaningful period-to-period comparisons. The Company believes that the use of the non-GAAP financial measures facilitates investors to understand and evaluate the Company’s current operating performance and future prospects in the same manner as management does, if they so choose. The Company also believes that the non-GAAP financial measures provide useful information to both management and investors by excluding certain expenses, gain/loss and other items that are not expected to result in future cash payments or that are non-recurring in nature or may not be indicative of the Company’s core operating results and business outlook.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net income (loss) attributable to ordinary shareholders of Baozun, and non-GAAP net income (loss) attributable to ordinary shareholders of Baozun per ADS is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP measures may differ from the non-GAAP measures used by other companies, including peer companies, potentially limiting the comparability of their financial results to the Company’s. In light of the foregoing limitations, the non-GAAP income (loss) from operations, non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net margin, non-GAAP net income (loss) attributable to ordinary shareholders of Baozun and non-GAAP net income (loss) attributable to ordinary shareholders of Baozun per ADS for the period should not be considered in isolation from or as an alternative to income (loss) from operations, operating margin, net income (loss), net margin, net income (loss) attributable to ordinary shareholders of Baozun and net income (loss) attributable to ordinary shareholders of Baozun per ADS, or other financial measures prepared in accordance with U.S. GAAP.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company’s performance. The company encourages you to review the company’s financial information in its entirety and not rely on a single financial measure. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, “Reconciliations of GAAP and Non-GAAP Results.”

Safe Harbor Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continues,” “ongoing,” “targets,” “guidance,” “going forward,” “looking forward,” “outlook” or other similar expressions. Statements that are not historical facts, including but not limited to statements about Baozun’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to Baozun’s filings with the United States Securities and Exchange Commission and its announcements, notices or other documents published on the website of The Stock Exchange of Hong Kong Limited. All information provided in this announcement is as of the date hereof and is based on assumptions that Baozun believes to be reasonable as of this date, and Baozun undertakes no obligation to update such information, except as required under applicable law.

About Baozun Inc.

Founded in 2007, Baozun Inc. is a leader in brand e-commerce service, brand management, and digital commerce service.  It serves approximately 490 brands from various industries and sectors around the world, including East and Southeast Asia, Europe and North America as of December 31, 2024.

Baozun Inc. comprises three major business lines – Baozun e-Commerce (BEC), Baozun Brand Management (BBM) and Baozun International (BZI) and is committed to accelerating high-quality and sustainable growth.  Driven by the principle that “Technology Empowers the Future Success”, Baozun’s business lines are devoted to empowering their clients’ business and navigating their new phase of development.

For more information, please visit http://ir.baozun.com.

For investor and media inquiries, please contact:

Baozun Inc.
Ms. Wendy Sun
Email: ir@baozun.com

 

Baozun Inc.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

As of

December 31,
2023

December 31,
2024

December 31,
2024

RMB

RMB

US$

ASSETS

Current assets

Cash and cash equivalents

2,149,531

1,289,323

176,636

Restricted cash

202,764

354,991

48,634

Short-term investments

720,522

1,271,618

174,211

Accounts receivable, net

2,184,729

2,033,778

278,626

Inventories

1,045,116

1,117,439

153,089

Advances to suppliers

311,111

404,353

55,396

Derivative financial assets

11,557

1,583

Prepayments and other current assets

590,350

724,091

99,200

Amounts due from related parties

86,661

7,021

962

Total current assets

7,290,784

7,214,171

988,337

Non-current assets

Long term investments

359,129

341,687

46,811

Property and equipment, net

851,151

822,229

112,645

Intangible assets, net

306,420

357,307

48,951

Land use right, net

38,464

37,438

5,129

Operating lease right-of-use assets

1,070,120

767,376

105,130

Goodwill

312,464

362,399

49,648

Other non-current assets

45,316

69,886

9,574

Deferred tax assets

200,628

234,508

32,127

Total non-current assets

3,183,692

2,992,830

410,015

Total assets

10,474,476

10,207,001

1,398,352

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities

Short-term loan

1,115,721

1,220,957

167,270

Accounts payable

563,562

620,679

85,033

Notes payable

506,629

461,179

63,181

Income tax payables 

18,768

26,559

3,638

Accrued expenses and other current liabilities

1,188,179

1,169,547

160,228

Derivative liabilities

130

18

Amounts due to related parties

32,118

5,369

735

Current operating lease liabilities

332,983

243,137

33,310

Total current liabilities

3,757,960

3,747,557

513,413

Non-current liabilities

Deferred tax liabilities

24,966

32,783

4,491

Long-term operating lease liabilities

799,096

597,805

81,899

Other non-current liabilities

40,718

48,277

6,614

Total non-current liabilities

864,780

678,865

93,004

Total liabilities

4,622,740

4,426,422

606,417

Redeemable non-controlling interests

1,584,858

1,670,379

228,841

Baozun Inc. shareholders’ equity:

Class A ordinary shares (US$0.0001 par
value; 470,000,000 shares authorized,
167,901,880 and 175,668,586 shares
issued, 167,901,880 and 161,337,586
shares outstanding, as of December 31,
2023, and December 31, 2024, respectively)

93

95

13

Class B ordinary shares (US$0.0001 par
value; 30,000,000 shares authorized,
13,300,738 shares issued and outstanding
as of December 31, 2023, and December
31, 2024)

8

8

1

Additional paid-in capital 

4,571,439

4,646,631

636,586

Treasury shares (nil and 14,331,000
shares as of December 31, 2023, and
December 31, 2024, respectively)

(95,502)

(13,084)

Accumulated deficit

(506,587)

(691,785)

(94,775)

Accumulated other comprehensive income

32,251

54,575

7,477

Total Baozun Inc. shareholders’ equity

4,097,204

3,914,022

536,218

Non-controlling interests

169,674

196,178

26,876

Total Shareholders’ equity

4,266,878

4,110,200

563,094

Total liabilities, redeemable non-
controlling interests and shareholders’ equity 

10,474,476

10,207,001

1,398,352

 

 

Baozun Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands, except for share and per share data and per ADS data)

For the three months ended September 30,

For the year ended December 31,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

Net revenues

Product sales(1)

1,053,022

1,105,971

151,517

3,357,202

3,466,928

474,967

Services

1,727,392

1,888,474

258,720

5,454,811

5,955,301

815,873

Total net revenues

2,780,414

2,994,445

410,237

8,812,013

9,422,229

1,290,840

Operating expenses (2)

Cost of products

(737,813)

(773,887)

(106,022)

(2,409,110)

(2,473,804)

(338,910)

Fulfillment(3)

(768,028)

(768,863)

(105,334)

(2,507,306)

(2,461,591)

(337,237)

Sales and marketing (3)

(892,401)

(1,041,421)

(142,674)

(2,829,016)

(3,380,724)

(463,157)

Technology and content(3)

(140,788)

(146,589)

(20,083)

(505,203)

(550,289)

(75,389)

General and administrative(3)

(228,697)

(191,822)

(26,280)

(855,914)

(719,157)

(98,524)

Other operating income, net

28,923

8,281

1,134

123,368

55,445

7,596

Impairment of goodwill

(35,212)

(6,934)

(950)

(35,212)

(6,934)

(950)

Total operating expenses 

(2,774,016)

(2,921,235)

(400,209)

(9,018,393)

(9,537,054)

(1,306,571)

Income (loss) from operations 

6,398

73,210

10,028

(206,380)

(114,825)

(15,731)

Other income (expenses)

Interest income 

19,508

18,298

2,507

82,113

68,752

9,419

Interest expense 

(9,436)

(9,619)

(1,318)

(41,344)

(38,987)

(5,341)

Unrealized investment (loss) gain

(8,352)

20,851

2,857

(68,031)

4,851

665

(Loss) gain on disposal/acquisition of  subsidiaries

(2,620)

631

Impairment loss of investments

(14,403)

(1,973)

(14,403)

(1,973)

Fair value change on financial instruments 

17,654

2,419

24,515

11,838

1,622

Exchange gain (loss)

735

(11,466)

(1,571)

(8,530)

(10,213)

(1,399)

Gain (loss) before income tax

6,233

94,525

12,949

(217,026)

(92,987)

(12,738)

Income tax expense (4)

(5,952)

(28,443)

(3,897)

(12,003)

(20,739)

(2,841)

Share of  (loss) income in equity method investment, net of tax of nil(5)

(2,264)

(23,930)

(3,278)

6,253

(24,658)

(3,378)

Net (loss) income

(1,983)

42,152

5,774

(222,776)

(138,384)

(18,957)

Net (income) loss attributable to
    noncontrolling interests

(22,368)

(18,253)

(2,501)

(9,677)

1,990

273

Net income attributable to
    redeemable noncontrolling
    interests

(24,063)

(23,770)

(3,256)

(45,969)

(48,804)

(6,686)

Net (loss) income attributable to ordinary shareholders of Baozun Inc.

(48,414)

129

17

(278,422)

(185,198)

(25,370)

Net (loss) income per share attributable to ordinary shareholders of Baozun Inc.:

Basic

(0.27)

0.00*  

0.00*  

(1.56)

(1.03)

(0.14)

Diluted

(0.27)

0.00*  

0.00*  

(1.56)

(1.03)

(0.14)

Net (loss) income per ADS attributable to ordinary shareholders of Baozun Inc.:

Basic

(0.80)

0.00*  

0.00*  

(4.68)

(3.09)

(0.42)

Diluted

(0.80)

0.00*  

0.00*  

(4.68)

(3.09)

(0.42)

Weighted average shares used in calculating net loss per ordinary share

Basic

180,642,328

176,942,201

176,942,201

178,549,849

179,678,986

179,678,986

Diluted

180,642,328

178,685,466

178,685,466

178,549,849

179,678,986

179,678,986

Net (loss) income

(1,983)

42,152

5,774

(222,776)

(138,384)

(18,957)

Other comprehensive income, net of tax of nil: 

Foreign currency translation adjustment

(23,783)

24,732

3,388

16,573

22,324

3,058

Comprehensive (loss) income

(25,766)

66,884

9,162

(206,203)

(116,060)

(15,899)

* The amounts are less than 0.01.

(1)  These amounts include product sales from E-Commerce and Brand Management of RMB571.7 million and RMB534.6 million for the three months period ended December 31, 2024, respectively, compared with product sales from E-Commerce of RMB597.5 million and Brand Management of RMB455.5 million for the three months period ended December 31, 2023.

These amounts also include product sales from E-Commerce and Brand Management of RMB1,999.6 million and RMB1,469.6 million for the fiscal year ended December 31, 2024, respectively, compared with product sales from E-Commerce of RMB2,092.2 million and Brand Management of RMB1,265.0 million for the fiscal year ended December 31, 2023.

(2) Share-based compensation expenses are allocated in operating expenses items as follows:

For the three months ended December 31,

For the year ended December 31,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

Fulfillment

1,873

732

100

6,443

4,885

669

Sales and marketing

5,239

3,075

421

33,955

19,943

2,732

Technology and content

3,681

2,077

285

12,184

11,290

1,547

General and administrative

13,874

9,287

1,272

50,867

45,483

6,231

24,667

15,171

2,078

103,449

81,601

11,179

(3) These amounts include amortization of intangible assets resulting from business acquisition, which amounted to RMB7.9 million and RMB7.9 million for the three months period ended December 31, 2023 and 2024, respectively.

These amounts also include amortization of intangible assets resulting from business acquisition, which amounted to RMB31.9 million and RMB36.3 million for the fiscal year ended December 31, 2023 and 2024, respectively.

(4) These amounts include income tax benefits of RMB1.5 million and RMB1.8 million related to the reversal of deferred tax liabilities, which was recognized on business acquisition for the three months period ended December 31, 2023 and 2024, respectively.

These amounts also include income tax benefits of RMB6.1 million and RMB7.6 million related to the reversal of deferred tax liabilities, which was recognized on business acquisition for the fiscal year ended December 31, 2023 and 2024, respectively.  

(5) These amounts include the other-than-temporary impairment of an equity method investment of nil and RMB26.1 million for the three months period and for the fiscal year ended December 31, 2023 and 2024, respectively.

Reconciliations of GAAP and Non-GAAP Results

(In thousands, except for share and per ADS data)

For the three months ended December 31,

For the year ended December 31,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

Income (loss) from operations 

6,398

73,210

10,028

(206,380)

(114,825)

(15,731)

Add: Share-based compensation expenses

24,667

15,171

2,078

103,449

81,601

11,179

Amortization of intangible assets resulting from business
acquisition

7,911

7,901

1,082

31,875

36,257

4,967

Acquisition-related expenses

1,467

12,171

Impairment of goodwill

35,212

6,934

950

35,212

6,934

950

Cancellation fees of repurchased ADSs

101

14

678

93

Non-GAAP income (loss) from operations 

75,655

103,317

14,152

(23,673)

10,645

1,458

Net (loss) income

(1,983)

42,152

5,774

(222,776)

(138,384)

(18,957)

Add: Share-based compensation expenses

24,667

15,171

2,078

103,449

81,601

11,179

Amortization of intangible assets resulting from business
acquisition

7,911

7,901

1,082

31,875

36,257

4,967

Acquisition-related expenses

1,467

12,171

Impairment of goodwill and investments

35,212

21,337

2,923

35,212

21,337

2,923

Other-than-temporary impairment of equity method investments

26,115

3,578

26,115

3,578

Cancellation fees of repurchased ADSs

101

14

678

93

Fair value gain on derivative liabilities

(24,515)

Loss (gain) on disposal/acquisition of subsidiaries

2,620

(631)

Unrealized investment loss (gain)

8,352

(20,851)

(2,857)

68,031

(4,851)

(665)

Less: Tax effect of amortization of intangible assets resulting
from business acquisition

(1,507)

(1,802)

(247)

(6,086)

(7,611)

(1,043)

Non-GAAP net income (loss)

76,739

90,124

12,345

(3,270)

15,142

2,075

Net (loss) income attributable to ordinary shareholders of
Baozun Inc.

(48,414)

129

17

(278,422)

(185,198)

(25,370)

Add: Share-based compensation expenses

24,667

15,171

2,078

103,449

81,601

11,179

Amortization of intangible assets resulting from business
acquisition

5,991

5,528

757

24,206

25,776

3,531

Acquisition-related expenses

1,467

12,171

Impairment of goodwill and investments

35,212

20,742

2,842

35,212

20,742

2,842

Other-than-temporary impairment of equity method investments

26,115

3,578

26,115

3,578

Cancellation fees of repurchased ADSs

101

14

678

93

Fair value gain on derivative liabilities

(24,515)

Loss (gain) on disposal/acquisition of subsidiaries

2,620

(652)

Unrealized investment loss (gain)

8,352

(20,851)

(2,857)

68,031

(4,851)

(665)

Less: Tax effect of amortization of intangible assets resulting from business acquisition

(1,127)

(1,209)

(166)

(4,569)

(5,234)

(717)

Non-GAAP net income (loss) attributable to ordinary
shareholders of Baozun Inc.

28,768

45,726

6,263

(65,089)

(40,371)

(5,529)

Diluted non-GAAP net income (loss) attributable to ordinary
shareholders of Baozun Inc. per ADS:

0.47

0.77

0.11

(1.09)

(0.67)

(0.09)

Weighted average shares used in calculating diluted net
income (loss) per ordinary share

182,780,715

178,685,466

178,685,466

178,549,849

179,678,986

179,678,986

(1) The Company evaluated the non-GAAP adjustments items and concluded that these items have immaterial income tax effects except for amortization of intangible assets resulting from business acquisition.

 

View original content:https://www.prnewswire.com/news-releases/baozun-announces-fourth-quarter-and-fiscal-year-2024-unaudited-financial-results-302406876.html

SOURCE Baozun Inc.

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Invitation-only professional community selects finance leader based on the depth and diversity of his experience 

EAGAN, Minn., July 24, 2026 /PRNewswire/ — ImageTrend, the leading provider of software and AI intelligence for emergency response, healthcare and public safety organizations, today announced that Chief Financial Officer John Wolfenden has been accepted into the Forbes Finance Council.

The Forbes Finance Council brings together executives, investors, and market operators who help shape how capital is allocated, managed, and protected in increasingly complex environments. The invitation-only members are vetted by a selection process that evaluates professional experience, leadership, and industry expertise. 

Wolfenden was selected following a review of his experience as CFO of multiple software companies and his track record of strengthening financial operations, improving business processes and supporting growth. At ImageTrend, he leads the finance function and serves as a strategic partner across the business as the company advances its AI-powered platform and supports more than 11,000 agencies. 

Recognized Finance Leadership 

Across his CFO roles, Wolfenden has focused on operational improvement, business growth and building finance functions that serve as strategic partners across the organization. At ImageTrend, he plays a critical role in the executive leadership team, overseeing financial strategy and operations and helping the company build the scalable foundation required for long-term growth. 

“John’s impact at ImageTrend goes well beyond the finance function,” said Joe Graw, Interim Chief Executive Officer and Chief Growth Officer. “He brings financial discipline, commercial perspective and a roll-up-your-sleeves approach to the decisions that shape how we grow and serve our customers. His selection for Forbes Finance Council is well deserved and gives him a valuable platform to share that expertise with other finance leaders.” 

Contributing to a Selective Finance Community 

As a council member, Wolfenden will join a curated peer community and have opportunities to work with an editorial team to share expert insights in original articles and contribute to Expert Panels on Forbes.com. He plans to share lessons from scaling software organizations and strengthening finance operations. 

“I am honored to have been selected to join Forbes Finance Council,” said Wolfenden. “I look forward to exchanging ideas with other finance leaders and learning from their experiences. I have always believed that finance should work closely with every part of the business, helping teams solve problems and make sound decisions. I am excited to bring what I learn back to ImageTrend as we continue improving how we operate and supporting the company’s growth.” 

For more information about ImageTrend, visit www.imagetrend.com.

About ImageTrend 

ImageTrend helps emergency response teams who struggle with documentation overload by giving them one AI-powered operating system so they can command with confidence and protect more lives with better decisions. 

Founded in 1998, the company serves more than 11,000 agencies in the United States, Canada and United Arab Emirates across Fire, Emergency Medical Services, and Hospital segments. With its deep industry knowledge and advanced data analytics capabilities, the software provider helps its customers streamline operations, shape long-term strategies, and dramatically improve outcomes. Its AI-embedded product solutions and dedicated team provide the intelligence and confidence that first responders need to tackle today’s challenges and prepare for tomorrow’s uncertainties.

About Forbes Councils 

Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive.

To learn more about Forbes Councils, visit https://councils.forbes.com.

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SOURCE ImageTrend LLC

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Okuma America Corporation to Exhibit at IMTS 2026 with Comprehensive Lineup

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Newly Designed Machines, Open-architecture CNC Control, Multiple Automation Systems, Intelligent Technologies, World-Class Services, Sustainable Initiatives, & More to be Featured

CHARLOTTE, N.C., July 24, 2026 /PRNewswire/ — The leadership team at Okuma America Corporation, a global leader and single-source builder of computer numeric control (CNC) machine tools, controls, and automation systems, is excited to announce the company’s exhibition plans for the 2026 International Manufacturing Technology Show (IMTS) to be held in Chicago, Illinois, from September 14 to 19, 2026.

Within its 17,000 square-foot booth, the company plans to showcase a comprehensive offering for the metalworking industry featuring new CNC machine tools, an industry-leading CNC control, a robust line of automation systems, intelligent manufacturing technologies, new world-class services, and more. Okuma America Corporation will host a media event in the South Hall (Booth #338500) on Tuesday, September 15 at 2:00 pm to highlight the company’s IMTS offerings, share insights from the Okuma leadership team, and showcase latest technologies during booth tours.

New & Notable

Four CNC Machines to Make Americas Debut
Of the 11 CNC machine tools Okuma will exhibit at IMTS 2026, four will make their debut in the Americas:

NEW – Okuma MB-100V Vertical Machining CenterNEW – Okuma GENOS M4000H-e Horizontal Machining CenterNEW – Okuma MS-320H Horizontal Machining CenterNEW – Okuma MULTUS U1000 Multitasking Lathe

Okuma Factory Automation and Peripherals
Okuma will present a comprehensive lineup of automation systems developed by the Okuma Factory Automation (OFA) Group, along with best-in-class solutions from its industry partners, all of which seamlessly integrate with Okuma machines. Leading the charge on automation innovation, Okuma is partnering with Intrinsic AI to display an AI automation robot cell. The company is pleased to announce that 9 of its 11 IMTS 2026 CNC machine tools will be paired with automation systems, including three solutions making their debut in the Americas:

NEXT GENERATION – Okuma Robot Loader (ORL) Series Enhancements & Additions – easy-to-integrate robotic systems designed to load and unload workpieces from machinesOkuma Robot Loader Drawer II (ORL-D II)Okuma Robot Loader for Machining Centers (ORL-MC II) with palletOkuma Robot Loader Plus with Pallet (ORL+) – a system designed to perform multiple functionsNEW – Okuma Tower Pallet Changer – vertical, two-level pallet changer with 13-pallet capacityNEW – Modular Automatic Tool Changer

NEW Virtual Reality Experience
Okuma will provide IMTS 2026 attendees with the opportunity to explore various Okuma machine models in a virtual reality environment. A dedicated area within the Okuma booth (booth #338500) will be available for participants to wear a virtual reality headset to view, walk around, and interact with a virtual 3D model of various Okuma CNC machine tools. This includes models beyond what is physically being exhibited within the booth, such as the MCR-A5CII double column machining center.

NEW Explore the Okuma Global Repair Center
Okuma is thrilled to share details of its newly constructed Global Repair Center at its headquarters campus in Charlotte, NC. The 35,000 square-foot facility brings mechanical and electrical repair, component exchange, upgrades, and legacy part fabrication together in a new, state-of-the-art building that is four times larger than previous dedicated space. Backed by advanced inspection, testing, CNC simulation, and thousands of ready-to-ship parts, the facility maximizes uptime, safeguards Okuma users’ investment, and reinforces Okuma’s promise to Passionately Pursue a Customer for Life. Booth visitors may explore the new facility via a 3D-printed model and watch a video of the facility’s impressive operations.

NEW Tribute to America 250
Okuma is pleased to recognize and celebrate the 250th anniversary of the United States of America with several tributes within its booth experience. Booth visitors can see an intricately-crafted Bald Eagle which is being created on the Okuma MU-8000V vertical machining center. Additionally, the company will also reward attendees who complete an in-booth survey with an exclusive baseball hat that features an American flag design element. Also, the GENOS M4000H-e horizontal machining center, which will be making its Americas Debut, will feature a one-of-a-kind patriotic graphics theme, produced by the company’s NASCAR partner, Richard Childress Racing.

Okuma Machine Featured in Partner Booth
Okuma is proud to partner with 50+ companies in the manufacturing industry through our Partners in Technology program, many who will be featured in demonstrations throughout the Okuma booth. Several program members are also exhibiting at IMTS 2026, including Air Turbine Tool. They will feature an Okuma GENOS M560-V vertical machining center in working display at their booth (#431645).

Comprehensive Technology Lineup

Okuma will showcase 11 CNC machine tools at the show, representing a wide range of the company’s vast product lines. Among these are four new products making their Americas debut. Additionally, ten unique automation systems will be on display, including three proprietary innovations from Okuma Factory Automation. The distinctive OSP-P500 control system will be featured on 9 of the 11 CNC machines in the booth, as well as on free-standing interactive simulators. Okuma will also highlight key components of its world-class service and support program.

Okuma’s complete IMTS 2026 machine, control, and automation lineup includes:

Okuma Machining Centers

 Paired Automation System

GENOS M4000H-e – NEW

 Internal Two-Station Automatic Pallet Changer (APC)

MB-100V – NEW

MB-5000HII

 Okuma Tower Pallet Changer

MS-320H – NEW

 Okuma Robot Loader Drawer II (ORL-D II)

MU-8000V

 Modular Automation Cell

GENOS M460V-5AX (5-axis)

Okuma Robot Loader Machining Center II (ORL-MC II) & Modular Automatic Tool Changer (ATC)

Lathes

 Paired Automation System

LB2000 EX III MYW

 Okuma Robot Loader Plus with pallet (ORL+)

LT2000 EX 3T3MY

 Okuma NC Unloader and LNS Bar Feeder

LU3000 EX

 Okuma Gantry Loader (OGL)

Multitasking Lathes

 Paired Automation System

MULTUS U1000 – NEW

Grinder

Paired Automation System

GA26W

Okuma Robot Loader Plus with pallet (ORL+)

Other Highlights

Okuma Speaking & Media Engagements
There will be multiple opportunities for show visitors to attend speaking engagements led by Okuma executive leadership and experts, including:

Okuma Press Conference on Tuesday, 9/15 at 2 PM CST, located in the Virtual Reality section of Okuma Booth (booth #338500)Simon Schneider, Director of Okuma Factory Automation, to present “The Automation Impact: Short-Term Wins to Long-Term Transformations” at Room W192-C on Tuesday, 9/15 at 2:15 CSTWade Andersion, Vice President of Engineering and Okuma Factory Automation, to present at the Blaser Swisslube Booth (booth #431228) on Tuesday 9/15 at 3 PM CST

Okuma is pleased to partner with a variety of manufacturing trade publications for scheduled media engagement and filming sessions throughout IMTS 2026. This includes outlets such as Practical Machinist, MTD CNC, Modern Machine Shop, and more.

Sustainability Initiatives
At Okuma, we’re working together to build a better machine tool and a better future. Okuma CNC machines are equipped with Okuma’s “Green Smart Machine” technology, a series of combined technologies that harmonize high-performance machining with intelligent energy management controls. Specifically, these technologies include Okuma’s proprietary ECO suite plus and Thermo-Friendly Concept, both of which will be displayed at IMTS 2026.

Okuma Best-in-Class Distributor Network
In support of Okuma’s mission of ‘Passionately Pursuing a Customer for Life’, Okuma has created strategic relationships with best-in-class distributorships to support customer needs within their local regions of operation. Representatives from each of Okuma’s distributors will be onsite at IMTS 2026.

Okuma Partners in Technology
Okuma’s Partners in Technology network brings together 50+ companies that represent best-in-class manufacturing solutions and technologies that pair perfectly with Okuma CNC machine tools.

For more information on Okuma’s IMTS offering, visit www.okuma.com/imts.

About Okuma America Corporation
Okuma America Corporation is the U.S.-based sales, marketing, engineering, and service affiliate of Okuma Corporation, a world-leading builder of CNC (computer numeric control) machine tools, controls, and automation systems. The company was founded in 1898 in Nagoya, Japan, and is the industry’s only single-source provider of CNC machines, drives, motors, encoders, spindles, and automation systems, all manufactured by Okuma. The company designs its own CNC controls to integrate seamlessly with each machine tool’s functionality. In 2014 Okuma launched the Okuma App Store, the industry’s only centralized online marketplace for machine tool apps and related content at that time. Along with its extensive distribution network (largest in the Americas), and Partners in Technology network of enhanced manufacturing technologies, Okuma is committed to helping users gain competitive advantage through the open possibilities of machine tools today and into the future. For more information, visit Okuma.com or follow us on Facebook, Instagram, LinkedIn and X.

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SOURCE Okuma America Corporation

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TrendAI™ Adopts Claude Opus 5 to Advance Vulnerability Prioritization, Assessment, and Virtual Patching

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As a participant in Anthropic’s Cyber Verification Program, TrendAI applies frontier reasoning to convert vulnerability intelligence into faster protection across hybrid environments

DALLAS, July 24, 2026 /PRNewswire/ — TrendAI™, the enterprise AI security leader from Trend Micro Incorporated (TYO: 4704; TSE: 4704), today announced it is adopting Claude Opus 5, Anthropic’s latest and most capable Opus model, to help security teams convert vulnerability intelligence into immediate protection, from prioritization and assessment through to virtual patching. The move builds on TrendAI’s collaboration with Anthropic on Claude Opus 4.8, extending the same defensive focus to a model that delivers step-change gains in advanced reasoning, agentic workflows, and long-horizon analysis. As AI makes finding vulnerabilities easier than ever, the harder problem becomes protecting organizations faster than software can be permanently patched, and that is where TrendAI is putting Opus 5 to work.

As a participant in Anthropic’s Cyber Verification Program, which credentials organizations for the defensive use of frontier AI models, TrendAI is positioned to apply Claude Opus 5 to defensive security as access becomes available. The model is Zero Data Retention compatible, supporting TrendAI’s governance and data-protection requirements as it scales AI across security operations.

Rachel Jin, Chief Platform and Business Officer, Head of TrendAI™:
“With Claude Opus 5, TrendAI can move from vulnerability intelligence to action faster than ever, prioritizing what matters most by exploitability and business impact. Finding the vulnerability was always the hard part. Now the challenge is protecting organizations faster than software can be permanently patched, and frontier reasoning is what changes that equation, extending all the way to virtual patching that protects customers before a vendor fix ships. This is what it means to secure the AI age, fearlessly.”

These capabilities support TrendAI Vision One™ in helping security analysts, AppSec teams, and SOC teams prioritize exposure, map attack paths, and accelerate mitigation, including virtual patching, across hybrid environments, moving vulnerability management from a static scanning process into a faster, context-aware risk mitigation workflow.

About TrendAI™
TrendAI™, the global AI security leader and enterprise business unit of Trend Micro, empowers organizations with full AI visibility and consolidated security that inspires confidence, drives innovation, and eliminates risk. Trusted by the largest enterprises and governments across 185 countries, TrendAI™ secures the entire organization, from identities, to infrastructure, to data. Global Fortune 500 companies rely on TrendAI™ to cut risk and stop threats up to three months earlier, powered by world-leading threat and attack intelligence. Through deep ecosystem partnerships with market leaders like NVIDIA, Anthropic, AWS, Google, and Microsoft, TrendAI™ empowers your organization to securely drive forward at the speed of AI. AI Fearlessly. Learn more: trendaisecurity.com

About Anthropic
Anthropic is an AI safety and research company dedicated to building reliable, interpretable, and steerable AI systems. Its Claude family of models, including Claude Opus 5, enables advanced capabilities across a wide range of applications, including code understanding and security analysis.

View original content to download multimedia:https://www.prnewswire.com/news-releases/trendai-adopts-claude-opus-5-to-advance-vulnerability-prioritization-assessment-and-virtual-patching-302834362.html

SOURCE TrendAI

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