New Street Research - Vipshop Holdings Ltd Sponsored ADR (VIPS) VIPS 2Q23 Results: Margins to Remain Stable

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New Street Research

Jin Yoon

VIPS 2Q23 Results: Margins to Remain Stable

What's new: Vipshop’s reported 2Q23 results were above consensus and our expectations. Guidance implies a meaningful deceleration from 2Q as comps start to normalize. 3Q is also a slow season for apparel amid lack of major promotion events. We maintain our PT at USD 14.

Analysts:
Jin Yoon

21/08/2023 1 EN

Underlying

Vipshop Holdings Ltd Sponsored ADR

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US92763W1036 New York Stock Exchange United States

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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Analysts

Jin Yoon

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VIPS 2Q23 Results: Margins to Remain Stable

VIPS 3Q24 Results: Visibility Remains Limited

VIPS 3Q24 Preview: Slowdown in Apparel in 3Q

VIPS 2Q24 Results: 2H Outlook Remains Challenging

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

Gen AI Big Idea Series - Chipletz CEO Bryan Black - Smart Substrate & the Multi-Chip-Module revolution

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