BZUN/9991.HK: BZUN Benefiting From Luxury Sales Boost In China Due To International Travel Restrictions
BZUN will report 2Q21 results on August 19th before the markets open with a 7:30am ET conference call. Based on our data and model, we believe BZUN’s total GMV is likely to grow 31.7% Y/Y to reach RMB16.8B in 2Q21, which was partially impacted by the BCI incident. We believe BZUN’s net revenue in 2Q21 is likely to be in line with consensus at RMB2,492M (15.6% Y/Y growth) and better than our model. BZUN has been increasing its brand capabilities by making several acquisitions. Along with a strong luxury goods sales trend in China due to international travel restrictions, we believe BZUN is best positioned to capture such trend.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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