BQ vs VIPS
Boqii Holding Limited and Vipshop Holdings Limited, side by side — 8 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | BQ | VIPS |
|---|---|---|
| Revenue | ¥420.5M | ¥105.9B |
| Net income | ¥-5.1M | ¥7.2B |
| Gross margin | 26.3% | 23.1% |
| Net margin | −1.2% | 6.8% |
| Return on equity | −2.7% | 17.9% |
| Diluted EPS | — | ¥70.74 |
| Dividend / share | — | — |
| Payout ratio | — | 24.8% |
| Free cash flow | ¥-30.4M | ¥5.5B |
| Equity | ¥188.0M | ¥41.0B |
| Net debt / equity | −0.09× | −0.42× |
| Current ratio | 3.25× | 1.28× |
| Revenue CAGR 5y | −16.1% | 0.8% |
| Profit CAGR 5y | — | 4.1% |
VIPS bills 251.9× the revenue of BQ, and BQ 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.
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Revenue by year
8 years side by side
| Fiscal year | BQ | VIPS |
|---|---|---|
| FY2025 | ¥420.5M | ¥105.9B |
| FY2024 | ¥468.9M | ¥108.4B |
| FY2023 | ¥709.4M | ¥112.9B |
| FY2022 | ¥1.1B | ¥103.2B |
| FY2021 | ¥1.2B | ¥117.1B |
| FY2020 | ¥1.0B | ¥101.9B |
| FY2019 | ¥770.2M | ¥93.0B |
| FY2018 | ¥803.8M | ¥84.5B |
Net income by year
Bottom line
| Fiscal year | BQ | VIPS |
|---|---|---|
| FY2025 | ¥-5.1M | ¥7.2B |
| FY2024 | ¥-54.1M | ¥7.7B |
| FY2023 | ¥-63.7M | ¥8.1B |
| FY2022 | ¥-102.8M | ¥6.3B |
| FY2021 | ¥-128.4M | ¥4.7B |
| FY2020 | ¥-194.4M | ¥5.9B |
| FY2019 | ¥-179.0M | ¥4.0B |
| FY2018 | ¥-234.2M | ¥2.1B |
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