Vipshop Holdings Limited (NYSE:VIPS) reported sharply higher GAAP earnings for the second quarter of 2026, but the increase came primarily from a commercial real estate investment trust transaction rather than the retail business.
At 5:16 a.m. EDT on August 25, the shares were down 4.9% in premarket trading. They recovered most of that decline before closing 1.1% lower at $14.16.
Revenue fell 4.3% year over year to RMB24.7 billion. GAAP net income attributable to Vipshop's shareholders nevertheless increased 189.1% to RMB4.31 billion. GAAP diluted earnings rose to RMB8.82 per ADS from RMB2.91.
The company listed a commercial REIT covering two Shan Shan outlets and subscribed for 49% of the units. The transaction generated RMB7.70 billion of gross proceeds, a RMB5.79 billion investment gain, and RMB1.63 billion of related tax expense.
The resulting RMB4.16 billion after-tax REIT amount represented approximately 148% of the RMB2.82 billion year-over-year increase in GAAP net income attributable to shareholders. Other items offset part of that benefit, including a RMB1.56 billion withholding-tax expense ***** ociated with historical dividend distributions.
#billion #year #shan
At 5:16 a.m. EDT on August 25, the shares were down 4.9% in premarket trading. They recovered most of that decline before closing 1.1% lower at $14.16.
Revenue fell 4.3% year over year to RMB24.7 billion. GAAP net income attributable to Vipshop's shareholders nevertheless increased 189.1% to RMB4.31 billion. GAAP diluted earnings rose to RMB8.82 per ADS from RMB2.91.
The company listed a commercial REIT covering two Shan Shan outlets and subscribed for 49% of the units. The transaction generated RMB7.70 billion of gross proceeds, a RMB5.79 billion investment gain, and RMB1.63 billion of related tax expense.
The resulting RMB4.16 billion after-tax REIT amount represented approximately 148% of the RMB2.82 billion year-over-year increase in GAAP net income attributable to shareholders. Other items offset part of that benefit, including a RMB1.56 billion withholding-tax expense ***** ociated with historical dividend distributions.
#billion #year #shan
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