Vipshop Holdings Limited reported unaudited financial results for the second quarter ended June 30, 2026. Total net revenues decreased 4.3% year-over-year to RMB24.7 billion (US$3.6 billion), while gross profit fell to RMB5.8 billion from RMB6.1 billion in the prior year period. Net income attributable to shareholders surged 189.1% to RMB4.3 billion, driven by a one-off investment gain of RMB5.79 billion from the listing of a commercial REIT. Non-GAAP net income declined significantly to RMB392.2 million due to a one-time withholding tax adjustment. The company also announced a new US$1.0 billion share repurchase program authorized on August 20, 2026, effective after the current program is fully utilized. Vipshop operates as an off-price retailer in China.