HERE vs VIPS
QuantaSing Group Limited and Vipshop Holdings Limited, side by side — 5 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | HERE | VIPS |
|---|---|---|
| Revenue | ¥2.7B | ¥105.9B |
| Net income | ¥358.7M | ¥7.2B |
| Gross margin | 81.5% | 23.1% |
| Net margin | 13.2% | 6.8% |
| Return on equity | 54.1% | 17.9% |
| Diluted EPS | — | ¥70.74 |
| Dividend / share | — | — |
| Payout ratio | 21.8% | 24.8% |
| Free cash flow | ¥180.8M | ¥5.5B |
| Equity | ¥809.0M | ¥41.0B |
| Net debt / equity | −1.01× | −0.42× |
| Current ratio | 2.14× | 1.28× |
| Revenue CAGR 5y | — | 0.8% |
| Profit CAGR 5y | — | 4.1% |
VIPS bills 38.9× the revenue of HERE, and HERE keeps more of each dollar of revenue as profit (13.2% against 6.8%).
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
5 years side by side
| Fiscal year | HERE | VIPS |
|---|---|---|
| FY2024 | ¥2.7B | ¥108.4B |
| FY2023 | ¥3.8B | ¥112.9B |
| FY2022 | ¥3.1B | ¥103.2B |
| FY2021 | ¥2.9B | ¥117.1B |
| FY2020 | ¥1.8B | ¥101.9B |
Net income by year
Bottom line
| Fiscal year | HERE | VIPS |
|---|---|---|
| FY2024 | ¥358.7M | ¥7.7B |
| FY2023 | ¥385.5M | ¥8.1B |
| FY2022 | ¥-108.5M | ¥6.3B |
| FY2021 | ¥-233.4M | ¥4.7B |
| FY2020 | ¥-316.0M | ¥5.9B |
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