Unless otherwise indicated or the context otherwise requires, references in this annual report to:
| ● | “ADRs” are to the American depositary receipts, which, if issued, evidence our ADSs; |
| ● | “ADSs” are to our American depositary shares, each of which represents three Class A ordinary shares; |
| ● | “Baozun,” “we,” “us,” “our company,” and “our,” are to Baozun Inc., a Cayman Islands exempted company, formerly known as Baozun Cayman Inc. and unless the context requires otherwise, includes its consolidated subsidiaries and variable interest entity and its subsidiaries; |
| ● | “brand e-commerce” are to business-to-consumer (B2C) e-commerce conducted through official brand stores, official marketplace stores, or official stores on other channels; |
| ● | “brand partners” are to companies for which we provide e-commerce services including but not limited to online store operations (such as operating or having entered into agreements to operate official brand stores, official marketplace stores, or official stores on other channels under their brand names), digital marketing, IT solutions, warehousing and fulfillment; |
| ● | “China” and the “PRC” are to the People’s Republic of China, excluding, for the purpose of this annual report only, Taiwan, the Hong Kong Special Administrative Region and the Macau Special Administrative Region; |
| ● | “GMV” are to gross merchandise volume, and when used in connection with our business, include (i) the full value of all purchases transacted and settled on the stores operated by us (including, prior to its closure in 2017, our Maikefeng marketplace but excluding stores for the operations of which we only charge fixed fees) and (ii) the full value of purchases for which consumers have placed orders and paid deposits on such stores and which have been settled offline. Our calculation of GMV includes value added tax and excludes (i) shipping charges, (ii) surcharges and other taxes, (iii) value of the goods that are returned and (iv) deposits for purchases that have not been settled; |
| ● | “HK$” or “Hong Kong dollars” or “HK dollars” are to Hong Kong dollars, the lawful currency of Hong Kong; |
| ● | “Hong Kong” or “HK” or “Hong Kong S.A.R.” are to the Hong Kong Special Administrative Region of the PRC; |
| ● | “Hong Kong Listing Rules” are to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, as amended or supplemented from time to time; |
| ● | “Hong Kong Share Registrar” are to Computershare Hong Kong Investor Services Limited; |
| ● | “Hong Kong Stock Exchange” are to The Stock Exchange of Hong Kong Limited; |
| ● | “O2O” are to online-to-offline and offline-to-online commerce; |
| ● | “official brand stores” are to brands’ official online stores; |
| ● | “official marketplace stores” are to brands’ flagship stores and authorized stores on third-party online marketplaces; |
| ● | “RMB” and “Renminbi” are to the legal currency of China; |
| ● | “ordinary shares” are to our Class A ordinary shares and Class B ordinary shares, par value US$0.0001 per share; |
| ● | “US$”, “U.S. dollars” or “dollars” are to the legal currency of the United States; and |
| ● | “VIE” are to variable interest entity, and “our VIE” are to Shanghai Zunyi Business Consulting Ltd., or Shanghai Zunyi, our PRC consolidated VIE. |
Solely for the convenience of the reader, certain RMB amounts and Hong Kong dollar amount have been translated into U.S. dollars at specified rates. Unless otherwise noted, all translations from RMB and Hong Kong dollars to U.S. dollars and from U.S. dollars to RMB and Hong Kong dollars were made at a rate of RMB6.9931 to US$1.00 and HK$7.7833 to US$1.00, the respective exchange rates as set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 31, 2025. We make no representation that the RMB, Hong Kong dollar or U.S. dollar amounts referred to herein could have been or could be converted to U.S. dollars or RMB, as the case may be, at any particular rate, or at all.
