Vip.com’s net profit continued to decline touch the ceiling

from the third quarter of last year to the first quarter of this year, vip.com’s performance has experienced a process from high growth to slow down, and even insiders believe that it has touched the ceiling signs of. The Economic Observer reporter Han Songhui in August 14th, listed in the U.S. vip.com (NYSE:VIPS) released the 2014 second quarter earnings, total net revenue, net profit and other indicators have achieved more than 100% year-on-year growth, and 7 consecutive quarterly profit.

however, the chain data of vip.com make market some worries. Data show that vip.com’s two quarter operating profit of $23 million 700 thousand, a decline of $21.5%, net profit of $26 million 400 thousand, a decline of 1%.

vip.com CFO Yang Donghao told the media that the decline in the chain profit is affected by the acquisition of the music bee network in February this year, the current music bee network is still in the loss of.

actually, from the third quarter of last year to the first quarter of this year, vip.com’s performance has experienced a process from high growth to slow down, and even insiders believe that it has touched the ceiling signs of.

data show that in the last four quarters, vip.com’s net profit was $9 million, $25 million 400 thousand, $26 million 600 thousand, $26 million 400 thousand. From the third quarter of 2013 to the third quarter of, the company’s net profit growth of 182% QoQ, is still in the stage of high growth. But in the one or two quarter of this year, the chain growth rate was 4.7%, -1%, has slowed down significantly.

Although the

for online shopping, for the fourth quarter is the peak season, coupled with vip.com help clothing enterprises to clear inventory business model, the fourth quarter of last year’s high growth rate is not difficult to understand, but the first and two quarter of a sharp slowdown in the chain, zheshiling market fears that it will be how to tap new profit growth point the continuation of the myth of the capital market.

addition, in the second quarter of this year’s earnings, vip.com stressed the control of operating expenses. The report shows that the second quarter total operating expenses of $186 million 900 thousand, an increase of $77 million 300 thousand over the same period last year, $141.7%. Vip.com second quarter total operating expenses in the total net revenue ratio of 22.5%, compared with the same period last year was steady.

but it is worth noting that vip.com’s second quarter performance expenditure of $83 million 800 thousand, an increase of $42 million 800 thousand over the same period last year, $95.8%, in the proportion of net revenues of $10.1%. Vip.com’s total number of orders for the second quarter of 26 million 300 thousand copies, with an average of about $20 per customer. Although compared with the same period last year accounted for 12.2% of the ratio has declined slightly, but still higher than the same industry, the higher part. Data show that in 2013 jumei.com’s compliance costs accounted for 7.2%, 5.9% Jingdong, both average compliance costs were 12 yuan, 14 yuan / single / single.

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