On the evening of February 28th, Vipshop released its results for the fourth quarter and full year of 2023, showing that Vipshop achieved a net revenue of 112.9 billion yuan (RMB) for the entire year of 2023, a year-on-year increase of 9.4%; Non GAAP's net profit was 9.5 billion yuan, a year-on-year increase of 39.1%; The total annual transaction volume (GMV) was 208 billion yuan, a year-on-year increase of 18.7%; The number of active users was 87.4 million, a year-on-year increase of 3.9%; The number of orders was 812.3 million, a year-on-year increase of 9.8%.
In the fourth quarter of 2023, Vipshop achieved a net revenue of 34.7 billion yuan, a year-on-year increase of 9.2%; Non GAAP's net profit was 3.2 billion yuan, a year-on-year increase of 43.4%. The total transaction volume (GMV) in the fourth quarter was 66.4 billion yuan, a year-on-year increase of 21.9%; The number of active users was 48.5 million, a year-on-year increase of 2.3%; The number of orders was 234.3 million, a year-on-year increase of 7.2%.
Vipshop also announced that the company's board of directors has approved the annual cash dividend policy. According to the dividend policy, the board of directors of the company will distribute annual dividends to shareholders registered after the market close on March 15, 2024, for the first time in the 2023 fiscal year, in the amount of $2.15 per ordinary share or $0.43 per American depositary share, with a total dividend amount of approximately $250 million.
The financial report shows that clothing consumption continues to rebound, with Vipshop's total transaction volume of wearable goods increasing by 24% in 2023 compared to 2022, helping the company's total annual transaction volume exceed 200 billion yuan for the first time. Thanks to the strong sales performance of wearable products, core columns such as Super Brand Day, Super Category Day, and Today's Big Brand achieved historic highs in sales.
With the strengthening trend of rational consumption, brand specials have attracted and retained more high-value users. Throughout the year, the number of active VIP (SVIP) users on Vipshop increased by 13% year-on-year to 7.6 million. At the same time, the renewal rate of SVIP members has significantly increased, and per capita consumption has also increased.
Shen Ya, Chairman and CEO of Vipshop, said, "In 2023, we will deeply cultivate retail, embrace change, and continue to implement the strategy of good goods and good prices. At the same time, we will further deepen the user mentality of 'buy clothes first, come to Vipshop'. The company's business foundation has become more solid, and has achieved performance beyond expectations. In the new year, Vipshop will continue to pragmatically, flexibly, and efficiently promote the company's long-term growth."