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Financial Statements — VIPS
Balance Sheet
(in billions CNY)| Metric | Q4 2025 | Q4 2024 | Q4 2023 | Q4 2022 | Q4 2021 |
|---|---|---|---|---|---|
| Cash & Equivalents | 3.29 | 26.35 | 25.41 | 21.94 | 16.30 |
| Short-term Investments | 5.78 | 1.87 | 0.28 | 0.23 | 0.84 |
| Accounts Receivable | 0.13 | 0.92 | 0.78 | 0.57 | 0.46 |
| Inventory | 5.15 | 5.03 | 5.64 | 0.80 | 1.08 |
| Total Current Assets | 39.58 | 37.80 | 37.56 | 4.89 | 32.84 |
| Property, Plant & Equipment | 18.31 | 18.29 | 16.88 | 2.35 | 2.26 |
| Goodwill | 0.11 | 0.76 | 0.76 | 0.76 | 0.09 |
| Intangible Assets | 0.05 | 0.33 | 0.05 | 0.05 | 0.32 |
| Total Non-current Assets* | (28.30) | 37.13 | (27.37) | 60.58 | 29.45 |
| Total Assets | 11.27 | 74.94 | 10.19 | 65.48 | 62.29 |
| Accounts Payable | 1.79 | 15.19 | 17.26 | 15.02 | 13.14 |
| Short-term Debt | 0.84 | 2.40 | 0.20 | 0.39 | 0.31 |
| Total Current Liabilities | 30.88 | 29.93 | 30.62 | 4.14 | 25.77 |
| Total Non-current Liabilities* | 3.52 | 3.46 | 3.14 | 27.27 | (21.31) |
| Total Liabilities | 34.40 | 33.39 | 33.76 | 31.40 | 4.47 |
| Retained Earnings | 6.95 | 42.91 | 36.84 | 28.72 | 22.42 |
| Total Stockholder Equity | 41.00 | 39.97 | 5.21 | 32.75 | 32.63 |
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* Derived from reported values