Baozun Inc. reported unaudited second-quarter 2026 revenue of RMB2,743.0 million, or US$404.3 million, up 7.5% from RMB2,552.7 million a year earlier but below the RMB2.77 billion analyst consensus. Adjusted earnings per ADS were RMB0.42, or US$0.06, exceeding expectations, and the company swung to net income attributable to ordinary shareholders of RMB17.0 million from a RMB34.0 million loss. Shares rose 1.77% in premarket trading after the results. Operating income reached RMB63.4 million, compared with a RMB9.4 million loss a year earlier, while non-GAAP operating income rose to RMB74.3 million from RMB6.1 million. E-Commerce revenue increased 4.6% and services revenue rose 10.0% to RMB1,761.8 million. Brand Management revenue climbed 21.9% to RMB485.6 million, supported mainly by the Gap brand, while its adjusted operating loss narrowed to RMB33.0 million. E-Commerce adjusted operating profit increased to RMB107.1 million. Baozun raised its 2028 annual non-GAAP operating-income target to at least RMB700 million from RMB550 million, citing efficiency gains, scale and operating leverage, and deeper synergies between its divisions.