BQ vs BZUN
Boqii Holding Ltd. and Baozun Inc., side by side — 8 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | BQ | BZUN |
|---|---|---|
| Revenue | CNY 420.5M | CNY 9.9B |
| Net income | CNY -5.1M | CNY -242.1M |
| Gross margin | 26.3% | 74.1% |
| Net margin | −0.4% | −2.0% |
| Return on equity | −2.7% | −6.4% |
| Diluted EPS | −CNY 1.47 | −CNY 1.40 |
| Dividend / share | — | — |
| Payout ratio | — | −9.2% |
| Free cash flow | CNY -30.4M | CNY 313.9M |
| Equity | CNY 188.0M | CNY 3.6B |
| Net debt / equity | −0.09× | 0.08× |
| Current ratio | 3.25× | 1.87× |
| Revenue CAGR 5y | −16.1% | 2.4% |
| Profit CAGR 5y | — | — |
BZUN bills 23.7× the revenue of BQ, and both closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
Revenue by year
8 years side by side
| Fiscal year | BQ | BZUN |
|---|---|---|
| FY2025 | CNY 420.5M | CNY 9.9B |
| FY2024 | CNY 468.9M | CNY 9.4B |
| FY2023 | CNY 709.4M | CNY 8.8B |
| FY2022 | CNY 1.1B | CNY 8.4B |
| FY2021 | CNY 1.2B | CNY 9.4B |
| FY2020 | CNY 1.0B | CNY 8.9B |
| FY2019 | CNY 770.2M | CNY 7.3B |
| FY2018 | CNY 803.8M | CNY 5.4B |
Net income by year
Bottom line
| Fiscal year | BQ | BZUN |
|---|---|---|
| FY2025 | CNY -5.1M | CNY -242.1M |
| FY2024 | CNY -54.1M | CNY -185.2M |
| FY2023 | CNY -63.7M | CNY -278.4M |
| FY2022 | CNY -102.8M | CNY -653.3M |
| FY2021 | CNY -128.4M | CNY -219.8M |
| FY2020 | CNY -194.4M | CNY 426.0M |
| FY2019 | CNY -179.0M | CNY 281.9M |
| FY2018 | CNY -234.2M | CNY 269.8M |
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