Technology
Baozun Announces Second Quarter 2024 Unaudited Financial Results
Published
2 years agoon
By
SHANGHAI, Aug. 28, 2024 /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 second quarter ended June 30, 2024.
Mr. Vincent Qiu, Chairman and Chief Executive Officer of Baozun, commented, “I’m pleased that in the second quarter, E-Commerce revenue returned to growth after ten quarters of contraction, highlighting our effective revitalization efforts in both services and product sales. Additionally, we smoothly integrated Location, a top Douyin partner, into Baozun’s livestreaming business unit. This integration strengthened our value proposition in the Douyin ecosystem. Brand Management continued to reduce its operating losses and accelerated its store expansion plans. We have also been working more closely with Gap Inc to maximize its global assets in the Chinese market. With improved momentum in E-commerce and ongoing progress in building Brand Management, we remain committed to our strategic transformation to drive further growth.”
Ms. Catherine Zhu, Chief Financial Officer of Baozun Inc., commented, “I’m delighted to report that Baozun achieved 3% year-over-year revenue growth, and significant annual improvement in non-GAAP operating profits. We anticipate this revenue growth momentum will persist for the remainder of 2024. In addition, we are advancing our sustainability initiatives and are well on track to fulfill our commitment to creating long-term value for our shareholders. Year to date, Baozun has repurchased approximately 2.0 million ADSs for $4.9 million, reflecting our confidence in the company’s future.”
Second Quarter 2024 Financial Highlights
Total net revenues were RMB2,391.0 million (US$[1]329.0 million), representing an increase of 3.1% compared with RMB2,320.2 million for the same period of 2023.Loss from operations was RMB18.8 million (US$2.6 million), an improvement from RMB36.4 million in the same quarter of last year which was mainly due to a reduction in losses from Brand Management. Operating margin was negative 0.8%, an improvement from negative 1.6% for the same period of 2023.Non-GAAP income from operation[2] was RMB10.0 million (US$1.4 million), an improvement from RMB0.7 million in the same quarter of last year which was mainly due to a reduction in losses from Brand Management. Non-GAAP operating margin was 0.4%, improved from 0.03% for the same period of 2023.Adjusted operating profit of E-Commerce[3] was RMB60.2 million (US$8.3 million), largely in line with RMB60.8 million for the same period of 2023.Adjusted operating loss of Brand Management[3] was RMB50.0 million (US$6.9 million), an improvement from RMB60.1 million for the same period of 2023.Net loss attributable to ordinary shareholders of Baozun Inc. was RMB30.6 million (US$4.2 million), compared with RMB20.0 million for the same period of 2023.Non-GAAP net loss attributable to ordinary shareholders of Baozun Inc.[4] was RMB3.9 million (US$0.5 million), compared with RMB4.4 million for the same period of 2023.Basic and diluted net loss attributable to ordinary shareholders of Baozun Inc. per American Depositary Share (“ADS[5]”) were both RMB0.51 (US$0.07), compared with both RMB0.34 for the same period of 2023.Diluted non-GAAP net loss attributable to ordinary shareholders of Baozun Inc. per ADS[6] was RMB0.06 (US$0.01), compared with RMB0.07 for the same period of 2023.Cash and cash equivalents, restricted cash, and short-term investments totaled RMB2,853.3 million (US$392.6 million), as of June 30, 2024, compared with RMB3,072.8 million as of December 31, 2023.
[1] This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.2672 to US$1.00, the noon buying rate in effect on June 28, 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, loss on variance from expected contingent acquisition payment, and cancellation fees of repurchased ADSs and returned 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 Inc. is a non-GAAP financial measure, which is defined as net income (loss) attributable to ordinary shareholders of Baozun Inc. excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition, acquisition-related expenses, impairment of goodwill and investments, loss on variance from expected contingent acquisition payment, cancellation fees of repurchased ADSs and returned ADSs, fair value loss on derivative liabilities, loss on disposal of subsidiaries and investment in equity investee, and unrealized investment loss.
[5] Each ADS represents three Class A ordinary shares.
[6] Diluted non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. per ADS are non-GAAP financial measures, which are respectively defined as non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. divided by weighted average number of shares used in calculating diluted net income (loss) per ordinary share multiplied by three, respectively.
Reconciliations of GAAP measures to non-GAAP measures presented above are included at the end of this results announcement.
Adjusted operating profits/losses by segment are included in the Segments data of Segment Information.
Business Highlights
Baozun e-Commerce, or “BEC”
BEC includes our 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. During the quarter, the total service revenue achieved a 10.4% year-over-year growth, with double digit growth in sportswear store operation revenues and strong performance in digital marketing and IT services.
Omni-channel expansion remains a key theme for our brand partners. By the end of the second quarter, approximately 45.8% of our brand partners engaged with us for store operations of at least two channels.
Baozun Brand Management, or “BBM”
BBM engages in holistic brand management, including strategy and tactic positioning, branding and marketing, retail and e-commerce operations, supply chain and logistics, and technology empowerment. We aim to leverage our portfolio of technologies to forge longer and deeper relationships with brands.
Currently, our Brand Management business line includes the Gap and Hunter brands. During the quarter, product sales revenue for Brand Management totaled RMB292.3 million, with a gross profit margin of 52.3%.
Second Quarter 2024 Financial Results
Total net revenues were RMB2,391.0 million (US$329.0 million), an increase of 3.1% from RMB2,320.2 million in the same quarter of last year. The increase in total net revenues was mainly driven by a 9.4% increase in service revenue.
Total product sales revenue was RMB870.3 million (US$119.8 million), compared with RMB930.3 million in the same quarter of last year, of which:
Product sales revenue of E-Commerce was RMB579.2 million (US$79.7 million), a decrease of 4.4% from RMB606.1 million in the same quarter of last year. The decrease was primarily attributable to the Company’s optimization of its product portfolio in distribution model, especially in the electronics and fast-moving consumer goods sectors.
The following table sets forth a breakdown of product sales revenues of E-Commerce by key categories [7] for the periods indicated:
For the three months ended June 30,
2023
2024
RMB
% of
Net
Revenues
RMB
US$
% of
Net
Revenues
YoY
Change
(In millions, except for percentage)
Product Sales of E-Commerce
Appliances
276.0
12 %
264.2
36.4
11 %
-4 %
Beauty and cosmetics
104.4
4 %
107.9
14.8
5 %
3 %
Others
225.7
10 %
207.1
28.5
8 %
-8 %
Total net revenues from product
sales of E-Commerce
606.1
26 %
579.2
79.7
24 %
-4 %
Product sales revenue of Brand Management was RMB292.3 million (US$40.2 million), a decrease of 9.8% from RMB324.2 million in the same quarter of last year. The decrease was primarily due to weak offline traffic during the quarter, partially offset by an improved visitor conversion rate.
Services revenue was RMB1,520.7 million (US$209.3 million), an increase of 9.4% from RMB1,389.9 million in the same quarter of last year. The increase was primarily due to the double-digit growth in digital marketing and IT solutions and online store operations.
The following table sets forth a breakdown of services revenues by service type for the periods indicated:
For the three months ended June 30,
2023
2024
RMB
% of
Net
Revenues
RMB
US$
% of
Net
Revenues
YoY
Change
(In millions, except for percentage)
Services revenue
Online store operations
388.3
17 %
441.4
60.8
18 %
14 %
Warehousing and fulfillment
570.5
25 %
587.8
80.9
25 %
3 %
Digital marketing and IT solutions
446.2
19 %
520.5
71.6
22 %
17 %
Inter-segment eliminations8
-15.1
-1 %
-29.0
-4.0
-1 %
92 %
Total net revenues from services
1,389.9
60 %
1,520.7
209.3
64 %
9 %
8The inter-segment eliminations mainly consist of revenues from online store operations, warehousing and fulfillment, and digital marketing and IT services provided by E-Commerce to Gap, a brand under Brand Management.
For the three months ended June 30,
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
258.3
11 %
317.8
43.7
13 %
23 %
– Luxury
97.9
4 %
96.9
13.3
4 %
-1 %
– Sportswear
95.0
4 %
117.1
16.1
5 %
23 %
– Other apparel
65.4
3 %
103.8
14.3
4 %
59 %
Others
130.0
6 %
123.6
17.1
6 %
-5 %
Inter-segment eliminations10
-9.3
-1 %
-12.0
-1.7
-1 %
29 %
Total net revenues from online
store operations in services
379.0
16 %
429.4
59.1
18 %
13 %
[7] Key categories refer to the categories that accounted for no less than 10% of product sales of E-Commerce revenues during the periods indicated.
[8] The inter-segment eliminations mainly consist of revenues from online store operations, warehousing and fulfillment, and digital marketing and IT services provided by E-Commerce to Gap, a brand under Brand Management.
[9] Key categories refer to the categories that accounted for no less than 10% of services revenue of E-Commerce during the periods indicated.
[10] 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 RMB2,409.8 million (US$331.6 million), compared with RMB2,356.6 million in the same quarter of last year.
Cost of products was RMB649.7 million (US$89.4 million), compared with RMB675.1 million in the same quarter of last year. The decrease was primarily due to a decline in product sales volume.Fulfillment expenses were RMB627.0 million (US$86.3 million), compared with RMB658.7 million in the same quarter of last year. The decrease was primarily attributable to the Company’s cost control initiatives and efficiency improvements.Sales and marketing expenses were RMB844.7 million (US$116.2 million), compared with RMB706.4 million in the same quarter of last year. The increase was mainly due to more active performance-driven digital marketing activities during the quarter.Technology and content expenses were RMB129.8 million (US$17.9 million), compared with RMB129.1 million in the same quarter of last year. The expenses were largely in line with same period last year.General and administrative expenses were RMB171.6 million (US$23.6 million), compared with RMB249.5 million in the same quarter of last year. The decrease was primarily due to higher G&A expenses in the same period of last year, which included higher severance expenses following the acquisition of Gap Shanghai. Additionally, decrease reflects the Company’s cost control initiatives and efficiency improvements.
Loss from operations was RMB18.8 million (US$2.6 million), an improvement from RMB36.4 million in the same quarter of last year. Operating margin was negative 0.8%, an improvement from negative 1.6% in the same quarter of last year.
Non-GAAP income from operations was RMB10.0 million (US$1.4 million), an improvement from RMB0.7 million in the same quarter of last year. The increase was mainly due to the narrowed loss in the Brand Management business. Non-GAAP operating margin was 0.4%, up from 0.03% in the same quarter of last year.
Adjusted operating profit of E-Commerce was RMB60.2 million (US$8.3 million), largely in line with RMB60.8 million in the same quarter of last year. Adjusted operating loss of Brand Management was RMB50.0 million (US$6.9 million), an improvement from RMB60.1 million in the same quarter of last year.
Unrealized investment loss was RMB2.8 million (US$0.4 million), compared with RMB9.3 million unrealized investment loss in the same quarter of last year. The unrealized investment loss of this quarter was mainly related to the decrease 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.
Share of loss in equity method investment was RMB3.6 million (US$0.5 million), compared with a share of gain in equity method investment of RMB4.4 million in the same quarter of last year. The change to a share of loss in equity method investment in this quarter was primarily due to the allocation of losses related to the equity method investment during the current period.
Net loss attributable to ordinary shareholders of Baozun Inc. was RMB30.6 million (US$4.2 million), compared with RMB20.0 million in the same quarter of last year.
Basic and diluted net loss attributable to ordinary shareholders of Baozun Inc. per ADS were both RMB0.51 (US$0.07), compared with both RMB0.34 for the same period of 2023.
Non-GAAP net loss attributable to ordinary shareholders of Baozun Inc. was RMB3.8 million (US$0.5 million), compared with RMB4.4 million in the same quarter of last year.
Diluted non-GAAP net loss attributable to ordinary shareholders of Baozun Inc. per ADS were RMB0.06 (US$0.01), compared with RMB0.07 for the same period 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 strategy and tactic positioning, branding and marketing, retail and e-commerce operations, supply chain and logistics and technology empowerment to leverage our portfolio of technologies to forge 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 June 30, 2023 and 2024, with prior periods’ segment information retrospectively recast to conform to current period presentation:
For the three months ended June 30,
2023
2024
RMB
RMB
Net revenues:
E-Commerce
2,010,976
2,130,881
Brand Management
324,297
294,283
Inter-segment eliminations *
(15,112)
(34,170)
Total consolidated net revenues
2,320,161
2,390,994
Adjusted Operating Profits (Losses) **:
E-Commerce
60,828
60,212
Brand Management
(60,090)
(49,976)
Total Adjusted Operating Profits
738
10,236
Inter-segment eliminations *
–
(200)
Unallocated expenses:
Share-based compensation expenses
(29,264)
(17,478)
Amortization of intangible assets
resulting from business acquisition
(7,911)
(10,916)
Cancellation fees of repurchased ADSs
–
(415)
Total other expenses
22,337
4,163
Loss before income tax
(14,100)
(14,610)
*The inter-segment eliminations mainly consist of revenues from services provided by E-Commerce to Brand Management.
**Adjusted Operating Profits (Losses) represent segment profits (losses), which is income (loss) from operations from each segment without allocating share-based compensation expenses, acquisition-related expenses and amortization of intangible assets resulting from business acquisition, and cancellation fees of repurchased ADSs.
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 August 28, 2024, the Company repurchased approximately 2.0 million of ADSs for approximately US$4.9 million under its share repurchase program through the open market. The remaining amount of Board authorization for our share repurchase program, which is effective through January 2025, was US$15.1 million as of August 28, 2024.
Conference Call
The Company will host a conference call to discuss the earnings at 7:30 a.m. Eastern Time on Wednesday, August 28, 2024 (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: 9965929
A replay of the conference call may be accessible through September 4, 2024 by dialing the following numbers:
United States: 1-877-344-7529
International: 1-412-317-0088
Canada: 855-669-9658
Replay Access Code: 6727395
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 operating margin, non-GAAP net income (loss), non-GAAP net margin, non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. and diluted non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. 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, loss on variance from expected contingent acquisition payment, and cancellation fees of repurchased ADSs and returned ADSs. The Company defines non-GAAP operating margin as non-GAAP income (loss) from operations as a percentage of total net revenues. The Company defines non-GAAP net income (loss) as net income (loss) excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition, acquisition-related expenses, impairment of goodwill and investments, loss on variance from expected contingent acquisition payment, cancellation fees of repurchased ADSs and returned ADSs, fair value loss on derivative liabilities, loss on disposal of subsidiaries and investment in equity investee, and unrealized investment loss. The Company defines non-GAAP net margin as non-GAAP net income (loss) as a percentage of total net revenues. The Company defines non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. as net income (loss) attributable to ordinary shareholders of Baozun Inc. excluding the impact of share-based compensation expenses, amortization of intangible assets resulting from business acquisition, acquisition-related expenses, impairment of goodwill and investments, loss on variance from expected contingent acquisition payment, cancellation fees of repurchased ADSs and returned ADSs, fair value loss on derivative liabilities, loss on disposal of subsidiaries and investment in equity investee, and unrealized investment loss. The Company defines diluted non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. per ADS as non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. 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 Inc. and diluted non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. 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 Inc., and diluted non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. 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 Inc. and diluted non-GAAP net income (loss) attributable to ordinary shareholders of Baozun Inc. 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 Inc. and net income (loss) attributable to ordinary shareholders of Baozun Inc. 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 more than 450 brands from various industries and sectors around the world, including East and Southeast Asia, Europe and North America.
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
June 30,
2024
June 30,
2024
RMB
RMB
US$
ASSETS
Current assets
Cash and cash equivalents
2,149,531
1,454,517
200,148
Restricted cash
202,764
242,679
33,394
Short-term investments
720,522
1,156,066
159,080
Accounts receivable, net
2,184,729
1,842,127
253,485
Inventories
1,045,116
1,130,958
155,625
Advances to suppliers
311,111
309,996
42,657
Derivative financial assets
–
11,179
1,538
Prepayments and other current assets
590,350
678,240
93,329
Amounts due from related parties
86,661
55,874
7,689
Total current assets
7,290,784
6,881,636
946,945
Non-current assets
Long term investments
359,129
364,524
50,160
Property and equipment, net
851,151
816,127
112,303
Intangible assets, net
306,420
350,330
48,207
Land use right, net
38,464
37,951
5,222
Operating lease right-of-use assets
1,070,120
857,192
117,954
Goodwill
312,464
369,333
50,822
Other non-current assets
45,316
67,943
9,349
Deferred tax assets
200,628
198,700
27,342
Total non-current assets
3,183,692
3,062,100
421,359
Total assets
10,474,476
9,943,736
1,368,304
LIABILITIES AND SHAREHOLDERS’
EQUITY
Current liabilities
Short-term loan
1,115,721
1,162,824
160,010
Accounts payable
563,562
439,635
60,497
Notes payable
506,629
418,386
57,572
Income tax payables
18,768
10,255
1,411
Accrued expenses and other current liabilities
1,188,179
1,020,799
140,466
Amounts due to related parties
32,118
22,553
3,103
Current operating lease liabilities
332,983
277,004
38,117
Total current liabilities
3,757,960
3,351,456
461,176
Non-current liabilities
Deferred tax liabilities
24,966
36,628
5,040
Long-term operating lease liabilities
799,096
647,321
89,074
Other non-current liabilities
40,718
40,030
5,508
Total non-current liabilities
864,780
723,979
99,622
Total liabilities
4,622,740
4,075,435
560,798
Redeemable non-controlling interests
1,584,858
1,645,177
226,384
Baozun Inc. shareholders’ equity:
Class A ordinary shares (US$0.0001 par value;
470,000,000 shares authorized, 167,901,880 and 1
70,820,931 shares issued, 167,901,880 and
167,277,325 shares outstanding, as of December
31, 2023, and June 30, 2024, respectively)
93
95
13
Class B ordinary shares (US$0.0001 par value;
30,000,000 shares authorized, 13,300,738 shares
issued and outstanding as of December 31, 2023,
and June 30, 2024, respectively)
8
8
1
Additional paid-in capital
4,571,439
4,609,277
634,258
Treasury shares (nil and 3,543,606 shares as of
December 31,2023 and June 30,2024,
respectively)
–
(21,630)
(2,976)
Accumulated deficit
(506,587)
(603,844)
(83,092)
Accumulated other comprehensive income
32,251
50,215
6,910
Total Baozun Inc. shareholders’ equity
4,097,204
4,034,121
555,114
Non-controlling interests
169,674
189,003
26,008
Total equity
4,266,878
4,223,124
581,122
Total liabilities, redeemable non-controlling
interests and equity
10,474,476
9,943,736
1,368,304
Baozun Inc.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In thousands, except for share and per share data and per ADS data)
For the three months ended June 30,
2023
2024
RMB
RMB
US$
Net revenues
Product sales(1)
930,256
870,301
119,757
Services
1,389,905
1,520,693
209,255
Total net revenues
2,320,161
2,390,994
329,012
Operating expenses (1)
Cost of products
(675,050)
(649,696)
(89,401)
Fulfillment(2)
(658,652)
(626,958)
(86,272)
Sales and marketing (2)
(706,440)
(844,698)
(116,234)
Technology and content(2)
(129,142)
(129,788)
(17,859)
General and administrative(2)
(249,503)
(171,637)
(23,618)
Other operating income, net
62,189
13,010
1,789
Total operating expenses
(2,356,598)
(2,409,767)
(331,595)
Loss from operations
(36,437)
(18,773)
(2,583)
Other income (expenses)
Interest income
20,286
16,695
2,297
Interest expense
(9,763)
(10,436)
(1,436)
Unrealized investment loss
(9,305)
(2,830)
(389)
Gain on acquisition of subsidiaries
3,251
–
–
Exchange loss
-6647
-10418
-1434
Fair value change on financial instruments
24,515
11,152
1,535
Loss before income tax and share of income in equity
method investment
(14,100)
(14,610)
(2,010)
Income tax expense (3)
(2,350)
(3,763)
(518)
Share of loss in equity method investment, net of tax of nil
4,432
(3,616)
(498)
Net loss
(12,018)
(21,989)
(3,026)
Net loss attributable to
noncontrolling interests
4,268
5,862
807
Net income attributable to
redeemable noncontrolling interests
(12,278)
(14,493)
(1,994)
Net loss attributable to ordinary shareholders of
Baozun Inc.
(20,028)
(30,620)
(4,213)
Net loss per share attributable to ordinary
shareholders of Baozun Inc.:
Basic
(0.11)
(0.17)
(0.02)
Diluted
(0.11)
(0.17)
(0.02)
Net loss per ADS attributable to ordinary
shareholders of Baozun Inc.:
Basic
(0.34)
(0.51)
(0.07)
Diluted
(0.34)
(0.51)
(0.07)
Weighted average shares used in calculating net loss
per ordinary share
Basic
177,967,788
181,899,568
181,899,568
Diluted
177,967,788
181,899,568
181,899,568
Net loss
(12,018)
(21,989)
(3,026)
Other comprehensive income, net of tax of nil:
Foreign currency translation adjustment
39,523
6,328
871
Comprehensive loss
27,505
(15,661)
(2,155)
(1) Including product sales from E-Commerce and Brand Management of RMB579.2 million and RMB292.3 million for the three months period ended June 30, 2024, respectively, compared with product sales E-Commerce and Brand Management of RMB606.1 million and RMB324.2 million for the three months period ended June 30, 2023.
(2) Share-based compensation expenses are allocated in operating expenses items as follows:
For the three months ended June 30,
2023
2024
RMB
RMB
US$
Fulfillment
1,713
1,358
187
Sales and marketing
10,456
2,242
308
Technology and content
3,512
2,446
337
General and administrative
13,583
11,432
1,573
29,264
17,478
2,405
(3) Including amortization of intangible assets resulting from business acquisition, which amounted to RMB7.9 million and RMB10.9 million for the three months period ended June 30, 2023 and 2024, respectively.
(4) Including income tax benefits of RMB1.5 million and RMB2.3 million related to the reversal of deferred tax liabilities for the three months period ended June 30, 2023 and 2024, respectively, which was recognized on business acquisition.
Baozun Inc.
Reconciliations of GAAP and Non-GAAP Results
(in thousands, except for share and per ADS data)
For the three months ended June 30,
2023
2024
RMB
RMB
US$
Loss from operations
(36,437)
(18,773)
(2,583)
Add: Share-based compensation expenses
29,264
17,478
2,405
Amortization of intangible assets resulting
from business acquisition
7,911
10,916
1,502
Cancellation fees of repurchased ADSs
–
415
57
Non-GAAP Income from operations
738
10,036
1,381
Net loss
(12,018)
(21,989)
(3,026)
Add: Share-based compensation expenses
29,264
17,478
2,405
Amortization of intangible assets resulting
from business acquisition
7,911
10,916
1,502
Cancellation fees of repurchased ADSs
–
415
57
Unrealized investment loss
9,305
2,830
389
Less: Gain on acquisition of subsidiaries
(3,251)
–
–
Fair value gain on derivative liabilities
(24,515)
–
–
Tax effect of amortization of intangible assets resulting from
business acquisition
(1,507)
(2,259)
(311)
Non-GAAP net income
5,189
7,391
1,016
Net loss attributable to ordinary shareholders of Baozun Inc.
(20,028)
(30,620)
(4,213)
Add: Share-based compensation expenses
29,264
17,478
2,405
Amortization of intangible assets resulting from
business acquisition
5,991
7,523
1,035
Cancellation fees of repurchased ADSs
–
415
57
Unrealized investment loss
9,305
2,830
389
Less: Gain on acquisition of subsidiaries
(3,272)
–
–
Fair value gain on derivative liabilities
(24,515)
–
–
Tax effect of amortization of intangible assets
resulting from business acquisition
(1,127)
(1,510)
(208)
Non-GAAP net loss attributable to ordinary
shareholders of Baozun Inc.
(4,382)
(3,884)
(535)
Diluted non-GAAP net income (loss) attributable
to ordinary shareholders of Baozun Inc. per ADS
(0.07)
(0.06)
(0.01)
Weighted average shares used in calculating
diluted net loss per ordinary share
177,967,788
181,899,568
181,899,568
(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-second-quarter-2024-unaudited-financial-results-302232811.html
SOURCE Baozun Inc.
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SPTel Receives Frost & Sullivan’s 2026 Singapore Company of the Year Recognition for Leadership in Quantum-Safe Network Services
Published
56 minutes agoon
July 21, 2026By
Recognized for pioneering commercial quantum-safe communications through innovation, national-scale infrastructure, and customer-centric cybersecurity solutions.
SAN ANTONIO, July 21, 2026 /PRNewswire/ — Frost & Sullivan is pleased to announce that SPTel has received the 2026 Singapore Company of the Year Recognition in the quantum-safe network service provider industry for its outstanding achievements in innovation, strategic execution, and customer impact. The recognition highlights SPTel’s leadership in advancing quantum-safe communications, strengthening Singapore’s digital resilience, and delivering customer-centric cybersecurity solutions for regulated and mission-critical industries.
Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. SPTel excelled in both, demonstrating its ability to align strategic initiatives with evolving cybersecurity requirements while delivering scalable, commercial-grade quantum-safe network services. “SPTel has demonstrated strong progress over the past year in translating quantum-safe innovation into tangible commercial success. Through the successful rollout of production-grade deployments with government agencies and regulated enterprises in Singapore, the company is not only validating the real-world viability of quantum-safe networks but also establishing itself as a trusted partner for mission-critical cybersecurity. The ability to move from concept to commercial adoption clearly differentiates SPTel in Singapore’s evolving quantum-secure communications landscape,” said Kenny Yeo, Director – ICT at Frost & Sullivan.
Guided by a long-term growth strategy focused on post-quantum cybersecurity, national digital resilience, and ecosystem collaboration, SPTel has demonstrated its ability to lead in a rapidly evolving security landscape. As an Infocomm Media Development Authority (IMDA)-appointed operator of the National Quantum-Safe Network Plus (NQSN+), the company is establishing Singapore’s quantum-secure communications backbone while enabling organizations to prepare for future cryptographic threats.
Innovation remains central to SPTel’s approach. Its portfolio of quantum-safe network services integrates quantum key distribution (QKD), post-quantum cryptography (PQC), managed connectivity, encryption, key management, and continuous monitoring into a unified service framework. This enables organizations to adopt quantum-safe communications with greater operational simplicity, scalability, and security assurance.
“We are deeply honoured by this recognition. It reinforces SPTel’s leadership and contributions to shaping the future of secure digital infrastructure. As the threat of quantum computers is fast becoming a reality, the time to act is now. Our mission is to help enterprises turn quantum-safe strategies from theoretical concepts into practical, operational capabilities. Through our accomplishments in real-world deployments with leading institutions of Singapore, we are proving that a quantum-resilient future is not only achievable—it is already within reach,” said Ernest Lee CEO at SPTel.
SPTel’s unwavering commitment to customer experience strengthens its market leadership. Through fully managed services, proactive monitoring, local engineering expertise, and a single point of accountability across the service lifecycle, the company helps customers reduce complexity while improving security readiness. Its success in supporting critical infrastructure operators, financial institutions, and government agencies demonstrates its ability to deliver long-term value in highly regulated environments.
Frost & Sullivan commends SPTel for setting a high standard in competitive strategy, execution, and market responsiveness. The company’s vision, innovation pipeline, and customer-first culture are shaping the future of quantum-safe communications while enabling organizations to confidently navigate the transition to a post-quantum world.
Each year, Frost & Sullivan presents the Company of the Year Recognition to a company that demonstrates outstanding strategy development and implementation, resulting in measurable improvements in market share, customer satisfaction, and competitive positioning. The recognition honors forward-thinking organizations that are reshaping their industries through innovation and growth excellence.
Frost & Sullivan Best Practices Recognition
Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
Contact us: Start the discussion.
Contact:
Tarini Singh
E: Tarini.Singh@frost.com
About SPTel
SPTel uses unique fibre pathways laid alongside the power network cables to deliver resilient, business class digital services. As a leading provider of next-generation telecommunications and digital solutions SPTel places a strong focus on security, innovation and reliability. This enables SPTel to deliver secure and scalable connectivity, edge cloud, IoT-as-a-Service, Quantum-Safe Networking and managed security solutions to businesses, government agencies, and service providers. SPTel is committed to driving digital transformation by providing cutting-edge technologies and exceptional customer experiences.
For more information, please visit www.sptel.com.
Contact:
Lim Yi Xuan
E: yixuan.lim@sptel.com
View original content:https://www.prnewswire.co.uk/news-releases/sptel-receives-frost–sullivans-2026-singapore-company-of-the-year-recognition-for-leadership-in-quantum-safe-network-services-302829692.html
Technology
B&R Technology Merger Corp. Announces Pricing of $325 Million Initial Public Offering
Published
56 minutes agoon
July 21, 2026By
NEW YORK, July 21, 2026 /PRNewswire/ — B&R Technology Merger Corp. (the “Company”) announced the pricing of its initial public offering of 32,500,000 units at $10.00 per unit. The units will be listed on the Nasdaq Global Market (“Nasdaq”) under the symbol “BRTMU” commencing on July 21, 2026. Each unit consists of one Class A ordinary share of the Company and one-third of one warrant, each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share. Once the securities constituting the units begin separate trading, the Company expects that the Class A ordinary shares and warrants will be listed on Nasdaq under the symbols ” BRTM” and ” BRTMW,” respectively.
The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It may pursue an initial business combination target in any business or industry.
Citigroup Global Markets Inc. (“Citigroup”) is acting as sole bookrunner and representative of the underwriters. The Company has granted the underwriters a 45-day option to purchase up to 4,875,000 additional units at the initial public offering price to cover over-allotments, if any.
This offering will only be made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus, when available, may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at (800) 831-9146.
A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.
FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
CONTACT: David York, Clark Callander, Steve Fletcher, B&R Technology Merger Corp., info@bandrtechnology.com
View original content:https://www.prnewswire.com/apac/news-releases/br-technology-merger-corp-announces-pricing-of-325-million-initial-public-offering-302830100.html
SOURCE B&R Technology Merger Corp.
Technology
InfoComm Asia 2026 Connects 3,800 Commercial Organisations Across Record 77 Countries, Cementing Its Role as Asia’s High-Value Professional AV Platform
Published
56 minutes agoon
July 21, 2026By
BANGKOK, July 21, 2026 /PRNewswire/ — InfoComm Asia 2026 successfully concluded after three days of business networking, technology innovation and knowledge exchange, bringing together the region’s most influential Pro AV minds, technology innovators and highest-value buyers, reinforcing its position as Asia’s industry-defining tradeshow and Super Connector event for the Professional Audiovisual (Pro AV) and Integrated Experience community.
Held at Bangkok’s Queen Sirikit National Convention Center (QSNCC) from 15-17 July, the sixth edition welcomed 6,638 professional attendees from 77 countries and regions, including 44.2% overseas visitors. More than half of titled visitors held manager-level authority or above, with, one in three at director level or above, reflecting at commercially relevant, as final decision-capable or key influencing audience responsible for technology investments across enterprise, education, government, healthcare, hospitality, retail, broadcast and live events. Across the three-day show, InfoComm Asia 2026 connected exhibitors with representatives from approximately 3,800 distinct commercial organisations spanning enterprise, government, education, healthcare and integrator channels — reinforcing the show’s position as Asia’s widest-reach platform for Professional AV business development. Among enterprise end users, more than one in eight held C-suite positions, with over a third at senior management level or above. Further reinforcing the show’s business value, InfoComm Asia’s specially curated Invited Guest Program brought together 60+ senior technology buyers from 12 countries, collectively representing nearly US$73 million in approved procurement budgets for projects scheduled over the next 12 to 18 months.
The show’s opening session welcomed representatives from Thailand National Innovation Agency (NIA), the Thailand Association for Educational Communications and Technology, and the Thailand Convention and Exhibition Bureau (TCEB), whose support underscored the show’s standing across Thailand’s innovation, education and MICE communities. They were joined by technology leaders and visionaries from across the region, including AVI-SPL, Shen Milsom & Wilke, LANG AG, ESCO Group, Singapore AI Association, Association for Audiovisual & Educational Technology Management Australia, Ho Chi Minh City Digital Transformation Center, Hochiminh Computer Association and more – all attending to evaluate emerging technologies, meet solution providers and explore new business opportunities.
Artificial Intelligence emerged as the defining theme of this year’s exhibition, with exhibitors demonstrating how AI-enabled technologies are transforming workplaces, communications and digital experiences. From intelligent collaboration platforms and next-generation conferencing solutions to advanced LED displays, workplace automation and immersive environments, visitors experienced first-hand how innovation is redefining the future of Professional AV across every industry.
Asia’s Launch Platform for Professional AV Innovation
InfoComm Asia 2026 featured more than 20 global and Asia-Pacific product launches, reinforcing its position as one of the region’s leading launch platforms for emerging Professional AV technologies.
Leading manufacturers including aegis Multimedia, Aimicot, Audio-Technica, Bose Professional, WyreStorm Technologies, Colorlight, IQBoard, Lumens, Newline, Rocware, Yamaha, Yealink and many others introduced AI-enabled solutions spanning enterprise collaboration, education, digital signage, broadcast, control rooms, unified communications and intelligent workplace environments.
The breadth of innovation on display reflected the rapid evolution of Professional AV, with intelligent automation, machine learning and connected technologies increasingly embedded across solutions designed to enhance productivity, communication, operational efficiency and customer engagement.
A Hub for High-Value Business
The show’s curated Invited Guest Program once again connected exhibitors directly with senior buyers actively planning technology investments.
60+ pre-qualified buyers from 12 countries with approved project budgets scheduled for implementation over the next 12 to 18 months across enterprise, education, government, healthcare, hospitality, broadcast and live entertainment.
Throughout the three-day exhibition, participants completed 700 scheduled business matching meetings, creating valuable commercial opportunities for exhibitors while enabling buyers to efficiently evaluate the latest Professional AV and integrated experience solutions.
“DMT Smarthome in Vietnam provides AV solutions and smart home solutions. Nowadays people care about smart convenience, so they choose automation. I’m looking for new technologies at InfoComm Asia 2026 such as loudspeakers and audio with new technologies and high performance. I spoke with many companies like AUDAC, Powersoft, and Bose that have many new technologies and releases I am excited about. I think InfoComm Asia is amazing and I have learned a lot. I cannot forget this experience.”
– Trung Le, Technical Sales Engineer, DMT Smart Home (invited Guest, Vietnam)
“As part of my role, I look at new technologies and solve our business problems with these new technologies. We’re a broad operation running not just mines but also a township and look at meeting rooms across the organization as well as townhalls wider scale events. As my third visit to InfoComm Asia, it is more about keeping up with the technologies and trends including LED wall spaces, audio transmission, AV over IP, and command and control centers. There’re always interesting things to see and new people to meet – many whom have become my vendors.
– David Rowcliff, OK Tedi Mining Limited (Invited Guest, Australia)
“I represent Drukcom Private Ltd – an AV systems integrator in Bhutan. I provide AV integration for smart cities and smart classrooms. Technology is growing in Bhutan and I see many things we still need to adopt after visiting InfoComm Asia such as solutions for smart cameras, smart audio systems which are new to us. We have met up with a number of companies whom we would like to follow up with for our upcoming projects. InfoComm Asia would be a very good learning experience for the people in my country.“
– Sonam Kesang, Drukcom Private Ltd. (Invited Guest, Bhutan)
Learning from Global Industry Leaders
Complementing the exhibition, the InfoComm Asia Summit once again delivered one of Asia’s most comprehensive Professional AV education programmes. Featuring 37 conference sessions presented by 60 international speakers, the Summit attracted 1664 total attendance, representing 25% of total show audience. Sessions saw strong engagement, particularly in tracks exploring artificial intelligence, workplace transformation, education technology, immersive experiences, broadcast innovation and integrated experience design.
Together, the Summit equipped executives, consultants, IT professionals and technology leaders with practical insights and real-world strategies for deploying AI-enabled and integrated technologies across their organisations.
Smart Workplace Experience Demonstrates the Office of Tomorrow
Making its debut this year, the Smart Workplace Experience became one of the exhibition’s standout features. Developed in partnership with UDD Technologies, the immersive showcase recreated a fully connected intelligent workplace where visitors experienced AI-enabled meeting rooms, workplace automation, unified communications, digital signage, smart controls and collaboration technologies operating seamlessly within realistic business environments.
Designed specifically for CIOs, IT managers, workplace strategists, facilities professionals and enterprise leaders, the experience demonstrated how integrated technologies can improve collaboration, optimise building operations and deliver more engaging, efficient workplaces.
Strengthening Asia’s Professional AV Community
Beyond showcasing technology innovation, InfoComm Asia continued to strengthen its role as the region’s meeting place for the global Professional AV community.
As AVIXA’s flagship gathering in Asia Pacific, the exhibition featured AVIXA Xchange LIVE, hosting fireside chats, panel discussions, community meetups and networking sessions throughout the event. Together with InfoComm Asia 101, Discovery Tours, technology-focused show floor tours and exhibitor demonstrations, these initiatives enabled professionals to exchange ideas, discover emerging trends and build meaningful business relationships.
InfoComm Asia 2026 also formalised three new Strategic Industry Partnerships during the show — with Ho Chi Minh Computer Association and AV Connect Vietnam, and with AETM, the Association for Audiovisual & Educational Technology Management Australia — extending the show’s collaborative framework across two of the region’s most active and fast-growing Pro AV markets.
The event reflected the continued growth of the Professional AV industry through the strong support of government agencies, technology organisations and industry associations, including Thailand’s National Innovation Agency (NIA), Digital Economy Promotion Agency (DEPA), Thailand Convention & Exhibition Bureau (TCEB), Thailand Professional Lighting Audio Visual Systems Association (TLAV), Thai IoT Association, Thailand Association for Educational Communications and Technology (THAI AECT), together with numerous regional partner organisations like Ho Chi Minh City Digital Transformation Center, Hochiminh Advertising Association, National Association Of Private Educational Institutions Malaysia continue to expand InfoComm Asia’s reach across Asia Pacific.
Industry Response
“At Bose we deliver professional audio experiences for professional applications such as for our core vertical markets including hospitality, retail, sport venues, education and more. We are showcasing two of our new products at InfoComm Asia this year including our show time loudspeakers which are developed for entertainment applications so think about karaoke, live entertainment, and venues. Being here at InfoComm Asia is one of the many things we do to stay close to our customers. It is a great place to meet with our customers, engage with them and show them new products. InfoComm Asia is valuable in the sense that it is a central location meet your existing customer as well as discover new people and have them discover our products who may not be familiar with our products.”
– Hans Vereecken, Bose VP International Sales (Netherlands)
“We are a local Thai LED display company and a distributor. This year has been successful! Yesterday alone we had over 100 visits to our booth and I think we will break that record this year. These are good quality meetings from the invited guest program and from many visitors. Many of these people have decision making power and are looking for distributors and new products and new technologies so I think we are very fortunate to be in this event.”
– Jirawut Hengtragul, CFA, General Manager DEFG Co., Ltd. (Thailand)
“Uniview is a global AI IoT Solution Provider with over a decade of display expertise. The ultimate value we get at InfoComm Asia is the trust and connections it creates, proving our long-term commitment to the Pro AV community. On the first day of the show alone, more than 200 systems integrators visited our booth, all genuinely engaged and interested in our products.”
– Yang Li, Sales Director, Display & Control & Conference BU, Uniview (China)
“We are manufacturers of large scale and a large landscape of Professional AV products from India including solutions for audio, installations, network switches, and true sound. This is our first time exhibiting at InfoComm Asia and we are quite satisfied with the people and the target visitors. I love the visitors we are meeting from 70+ countries with more than 1,000 people come to our booth. It is awesome for us! I can imagine an even bigger show in Malaysia and we have already rebooked. See you there in Malaysia!”
– Hemal Bhatt, Hemona (N-Labs), (India)
Building on Asia’s Momentum
As organisations across Asia accelerate digital transformation, Professional AV has become essential infrastructure powering intelligent workplaces, hybrid collaboration, immersive learning, connected healthcare, smart retail, live events and digital public spaces. By bringing together the complete Pro AV ecosystem—including manufacturers, technology innovators, systems integrators, consultants, enterprise end users, government agencies and industry associations—InfoComm Asia has firmly established itself as Asia’s Super Connector for the Professional AV community, creating a platform where innovation, education, partnerships and business opportunities converge.
Building on this momentum, InfoComm Asia will enter its next chapter in Kuala Lumpur, Malaysia, from 28–30 July 2027 at the Malaysia International Trade and Exhibition Centre (MITEC). The move reflects Malaysia’s emergence as one of Southeast Asia’s fastest-growing digital economies and a strategic hub for artificial intelligence, digital infrastructure, smart technologies and data centre investment. Expanding into Malaysia enables InfoComm Asia to deepen its regional presence, broaden access to new markets and investment opportunities, and continue connecting Asia Pacific’s Pro AV community with the technologies and partnerships shaping the future of integrated experiences.
“We’re excited about the move to Malaysia, and we’ve already secured our space for the show. Being closer to Singapore gives us access to a different mix of partners and resellers, along with stronger visibility among end customers across the region. It’s an event we’re excited to being part of,” said Ekta Shetty, Senior Sales Director, Shure.
“Bangkok has been an extraordinary partner to this community, and bringing InfoComm Asia to Kuala Lumpur in 2027 is a declaration of our continued commitment to this region, extending our reach to even more of Asia Pacific’s Pro AV community. This industry is architecting the future of Asian enterprise, and we couldn’t be prouder to keep building it alongside this community.” said David Labuskes, CTS, CAE, RCDD, Chief Executive Officer, AVIXA.
About InfoComm Asia
InfoCommAsia Pte Ltd. extends its influence through three marquee shows: InfoComm Asia; InfoComm China, Beijing; and InfoComm India. Each show features an exhibition showcasing the world’s most cutting-edge and in-demand professional audiovisual and integrated experience technology solutions, alongside a summit presenting learning and networking opportunities. The shows bring together professional audiovisual industry players and top-level decision-makers from across the region to tap into the vast potential presented by Pro AV solutions.
About AVIXA
AVIXA® (the Audiovisual and Integrated Experience Association) is the international trade association representing the professional audiovisual and integrated experience industry. Founded in 1939 and now home to more than 3,000 enterprise members representing over 20,000 AV professionals across more than 80 countries, AVIXA is the industry’s leading resource for standards, certification, training, market intelligence and thought leadership. InfoComm Asia serves as AVIXA’s flagship gathering for its communities across the region.
For more information on exhibiting, sponsorship and collaboration, please visit infocomm-asia.com — infocomm-china.com — infocomm-india.com.
Media Contact
For media enquiries, please write to media@infocommasia.com or contact:
Angie Eng, Marketing Director
InfoCommAsia Pte Ltd
angieeng@infocommasia.com
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/infocomm-asia-2026-connects-3-800-commercial-organisations-across-record-77-countries-cementing-its-role-as-asias-high-value-professional-av-platform-302829525.html
SOURCE InfoComm Asia
SPTel Receives Frost & Sullivan’s 2026 Singapore Company of the Year Recognition for Leadership in Quantum-Safe Network Services
B&R Technology Merger Corp. Announces Pricing of $325 Million Initial Public Offering
InfoComm Asia 2026 Connects 3,800 Commercial Organisations Across Record 77 Countries, Cementing Its Role as Asia’s High-Value Professional AV Platform
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