HERE vs VIPS
Here Group Ltd. and Vipshop Holdings Ltd., side by side — 5 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | HERE | VIPS |
|---|---|---|
| Revenue | CNY 2.7B | CNY 105.9B |
| Net income | CNY 358.7M | CNY 7.2B |
| Gross margin | 81.5% | 23.1% |
| Net margin | 13.1% | 7.0% |
| Return on equity | 54.1% | 17.9% |
| Diluted EPS | CNY 2.17 | CNY 70.74 |
| Dividend / share | — | — |
| Payout ratio | 21.8% | 24.8% |
| Free cash flow | CNY 180.8M | CNY 5.5B |
| Equity | CNY 809.0M | CNY 41.0B |
| Net debt / equity | −1.01× | −0.42× |
| Current ratio | 2.14× | 1.28× |
| Revenue CAGR 5y | — | 0.8% |
| Profit CAGR 5y | — | — |
VIPS bills 38.9× the revenue of HERE, and HERE keeps more of each dollar of revenue as profit (13.1% against 7.0%).
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
5 years side by side
| Fiscal year | HERE | VIPS |
|---|---|---|
| FY2024 | CNY 2.7B | CNY 108.4B |
| FY2023 | CNY 3.8B | CNY 112.9B |
| FY2022 | CNY 3.1B | CNY 103.2B |
| FY2021 | CNY 2.9B | CNY 117.1B |
| FY2020 | CNY 1.8B | CNY 101.9B |
Net income by year
Bottom line
| Fiscal year | HERE | VIPS |
|---|---|---|
| FY2024 | CNY 358.7M | CNY 7.7B |
| FY2023 | CNY 385.5M | CNY 8.1B |
| FY2022 | CNY -108.5M | CNY 6.3B |
| FY2021 | CNY -233.4M | CNY 4.7B |
| FY2020 | CNY -316.0M | CNY 5.9B |
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