宝尊电商-W2025年度报告

( 於開曼群島註冊成立以不同投票權控制的有限責任公司 ) 股份代號 :9991 2025年 度 報 告 251012143035519398101103104105108180 AIAIAI GAP 2025 6%991,1001.264.2 (BEC)BBM (BBM)202525%18GAP20252026 2026-2028 20285.5 BECAI BBMBBM BECBBM BECBBM 2018BECBBMAIAI 2025202136%203050% 6.99311.00202412 317.29931.00H.102025123120241231 20251231 Vistra (Cayman) LimitedP.O. Box 31119 Grand Pavilion, Hibiscus Way802 West Bay RoadGrand Cayman, KY1-1205Cayman Islands Yiu Pong ChanSteve Hsien-Chieng Hsia 5101-9200436 Yiu Pong ChanSteve Hsien-Chieng Hsia 33191928 Yiu Pong ChanSteve Hsien-Chieng Hsia Vistra (Cayman) Limited P.O. Box 31119 Grand Pavilion, Hibiscus Way802 West Bay RoadGrand Cayman, KY1-1205Cayman Islands Steve Hsien-Chieng HsiaYiu Pong Chan2025521 183171712-1716 2025320Arthur Yu2025320 A 504714 9991BZUN www.baozun.com ABABABZUNBABA13,300,738A20251231A8.3%7.6%201420152022 20251231 Jesvinco Holdings Limited10A9,410,369B4,429,366A2022405,000A2025123133.37% Casvendino Holdings Limited2,764,707A3,890,369B46,752A2025123114.19% BBBA C8A.46AA 2023(BEC)(BBM)(BZI)182023BECBZIBBM IT 202412319,422.25.6%9,945.525.2%126.2202410.6 IT • •ITROSSAICRMOMSWMS • 10 IT 2.4%6,095.98.3%IT8.5% BECBEC 2025412025 202522%219.3 BBM Gap2022118The Gap, Inc.Gap (UKHoldings) LimitedGapThe Gap, Inc.The Gap, Inc.Gap2022118 2023131202321The Gap,Inc.202321TheGap, Inc.Gap (UK Holdings) Limited2025827The Gap, Inc.Gap (UK Holdings) Limited 2023Baozun Brand Management LimitedAuthentic Brands GroupAuthenticABG Hunter LLCBBMABG Hunter LLC51%JV SPAHunterHunter IP Holdco2026331JVJV(i)(ii)Hunter GAP GAP1969GAP GAPBBM BBM25.2%1,845.420251772025Gap GAPGAPGAP 2025202592025 202529GAP1642025 2025GAP2025 20256%9,945.5126.210.6420.42025 2025GAP 20262028550 9,945.51,422.2202412319,422.220245.6% Gap2,009.81,841.6202412311,999.61,469.6 IT8.5%8.3% 2,576.0368.4202412312,473.8 (i)(ii)(iii)(iv)202412312,461.6337.26.2%2,309.8330.3 202412313,380.7463.213.8%3,847.2550.1BECBBM 20241231550.375.415.8%463.266.2 20241231719.298.54.5%751.6107.5202553.3 2024123155.47.639.4%77.311.1 257.336.82024123121.83.0 20259241%4.762025123133.52%2025155.5202630.5 9.91.42024123120.72.8 199.628.520241231138.419.0 202512316,803.1972.8202412317,214.2988.35.7%202512311.9202412311.9 202412312,033.8278.66.9%202512312,173.2310.8 20251231466.166.620241231620.785.024.9% 202512311,359.4194.4202412311,169.5160.216.2% A 1.1%6.25%20251231907.3129.7141.020.21,747.0249.8202412311,289.3176.6355.048.61,271.6174.2 202512311,207.8172.7202412311,221.0 2.2%2.9%202412312.6%3.0% 20251231139.0131.1 100.0%20241231202512311.080.77 20251231 2025123120241231907.3129.71,289.3176.6141.020.2355.048.61,747.0249.81,271.6174.2 20251231202412312,173.2310.82,033.8278.66.20.97.01.0 20251231202512315% 202512316,762202412317,650 IT202512312,77820242,768 20251231 582007200020003200711993200019927 472007201712201712202212201220019200742000420019IT 4820246ACCF CapitalACCF Capital20216Champion Kerry Inc.ACCF Capital2010620211L Catterton Asia201982022318172020720224Secoo Holding LimitedSECO2008102010320032006200820021998 56201552023520235202461420172020202020182016202412達勢201520172013201520122013201120132010201119992010 Yiu Pong Chan5320155Chan2012920143L Catterton AsiaL Capital Asia2014420186L Catterton AsiaLVMH Moët Hennessy Louis Vuitton S.AChan20144201862015320183YG Entertainment Inc.Chan200682007920071020116Crescent Point Group2002620066ChanLone Star Asia-Pacific LTD.Chan1999220026McKinsey & Co. Inc. Hong KongChan1999419965 Steve Hsien-Chieng Hsia6220165Hsia20204STEAMPlaynovate, Inc.Hsia201811Wearnes-Starchase Limited20112013HsiaWPP, LLCWunderman Worldwide, LLCHsia199622013AGENDA CorporationAGENDA CorporationDeliriumCyberTouch CorporationCyberTouchHsiaNextWare199119962Hsia19875 552016520256201992019620196201810Niu Technologies Inc.2018122022920228202410202211202412NWTN Inc.20199Panjing Harbourview Investment FundL.L.P.20112201512199342011119927199911 43202442020202512(002510.SZ)202112GreenTree Hospitality Group Ltd.2013202020052013(CICPA)(CIA) 4120193202262019202020222021202320062009 52202211120 4520221112025320 C.2.1 202571202571 20251231 3.10(1)3.10(2) 20251231Yiu Pong ChanSteve Hsien-Chieng Hsia 20251231 20251231 143 Yiu Pong ChanSteve Hsien-Chieng Hsia3.10(2)3.21 (i)(ii) 20241231202412312025331202563020259302025630 Yiu Pong ChanSteve Hsien-Chieng HsiaYiuPong Chan (i)(ii)(iii)(iv)17 Steve Hsien-Chieng HsiaYiu Pong Chan2025521Steve Hsien-Chieng Hsia (i)(ii)(iii)(iv)(i)(ii)(iii)(iv)(v) 2025618(i)(ii)(iii)(iv)(v)(vi) (i)(ii)(iii) 20251231 202512313 ••••• 20253202025320 3.292025123115 20251231 (SOC)9397 IT 20251231 (i)(ii) 19.419.62121213 18317M(852) 2862 8555(852) 2865 0990/(852) 2529 6087https://www.computershare.com 33191928(852) 3585 2500ir@baozun.com www.baozun.comir.baozun.com 2025423(a)(i)A1(ii)(b)2025618 (www.baozun.com) 20251231 13 2025123198107 202512312024 20251231 2025123120-F •••• 1236 (i)(ii)GMVGMV GMV 2(b)2(