news May 18th, vip.com released the 2016 fiscal first quarter unaudited financial results, according to the results, vip.com first quarter revenue 12 billion 170 million yuan, 8 billion 610 million yuan last year, an increase of 41%; net profit of 475 million yuan, 368 million yuan last year, an increase of 29%.

Q1 performance points:

1, total net revenues of 12 billion 170 million yuan ($1 billion 890 million), last year was 8 billion 610 million yuan, an increase of 41%; mainly due to the number of active users increased by 52% to 19 million 700 thousand, and the total number of orders increased by 53% to 58 million 700 thousand;

2, net profit attributable to shareholders of the company was 475 million yuan ($74 million), growth of 29% over the same period last year 368 million yuan; net profits are not calculated in accordance with GAAP for 623 million yuan ($97 million), an increase of 28%;

3, gross profit of 2 billion 960 million yuan (about $458 million), an increase of 2 billion 140 million over the same period last year, $38%; gross margin was 24.3%, lower than the same period last year, 24.9%;

4, operating profit was 596 million yuan ($92 million), growth of 51% over the same period last year 395 million yuan; mainly due to the size of the company’s business growth, performance and technology spending, and the content of expenditure and administrative and general expenses in the total net revenue ratio decreased.

future performance Outlook:

vip.com expects 2016 quarter fiscal year second net revenues of 123-128 billion yuan, an increase of 37%-42%. This is vip.com’s current and preliminary expectations based on market and operating conditions, the future may change.