VIPS vs YJ
Vipshop Holdings Ltd. and Yunji Inc., side by side — 9 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | VIPS | YJ |
|---|---|---|
| Revenue | CNY 105.9B | CNY 317.0M |
| Net income | CNY 7.2B | CNY -133.3M |
| Gross margin | 23.1% | 44.4% |
| Net margin | 7.0% | −42.0% |
| Return on equity | 17.9% | −13.2% |
| Diluted EPS | CNY 70.74 | −CNY 0.07 |
| Dividend / share | · | · |
| Payout ratio | 24.8% | · |
| Free cash flow | CNY 5.5B | CNY -126.6M |
| Equity | CNY 41.0B | CNY 935.2M |
| Net debt / equity | −0.42× | −0.07× |
| Current ratio | 1.28× | 1.41× |
| Revenue CAGR 5y | 0.8% | −43.5% |
| Profit CAGR 5y | · | · |
VIPS bills 334.1× the revenue of YJ, and YJ 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. "·" marks a figure not available in our data.
9 years side by side
| Fiscal year | VIPS | YJ |
|---|---|---|
| FY2025 | CNY 105.9B | CNY 317.0M |
| FY2024 | CNY 108.4B | CNY 417.7M |
| FY2023 | CNY 112.9B | CNY 640.2M |
| FY2022 | CNY 103.2B | CNY 1.2B |
| FY2021 | CNY 117.1B | CNY 2.2B |
| FY2020 | CNY 101.9B | CNY 5.5B |
| FY2019 | CNY 93.0B | CNY 11.7B |
| FY2018 | CNY 84.5B | CNY 13.0B |
| FY2017 | CNY 72.9B | CNY 6.4B |
Bottom line
| Fiscal year | VIPS | YJ |
|---|---|---|
| FY2025 | CNY 7.2B | CNY -133.3M |
| FY2024 | CNY 7.7B | CNY -123.1M |
| FY2023 | CNY 8.1B | CNY -165.1M |
| FY2022 | CNY 6.3B | CNY -138.2M |
| FY2021 | CNY 4.7B | CNY -165.1M |
| FY2020 | CNY 5.9B | CNY -146.3M |
| FY2019 | CNY 4.0B | CNY -125.8M |
| FY2018 | CNY 2.1B | CNY -59.7M |
| FY2017 | CNY 1.9B | CNY -105.7M |
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +CNY 105,602,530,000 | VIPS |
| FY2024 | +CNY 108,003,181,000 | VIPS |
| FY2023 | +CNY 112,215,811,000 | VIPS |
| FY2022 | +CNY 101,998,375,000 | VIPS |
| FY2021 | +CNY 114,904,317,000 | VIPS |
| FY2020 | +CNY 96,328,232,000 | VIPS |
| FY2019 | +CNY 81,322,394,000 | VIPS |
| FY2018 | +CNY 71,508,723,000 | VIPS |
| FY2017 | +CNY 66,468,242,000 | VIPS |
VIPS has reported the higher revenue in every one of these 9 fiscal years. The gap has widened since the earliest year compared.
9 of 16 comparable fiscal years — a year missing data on either side is not counted.
9 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +49.0 pp | VIPS |
| FY2024 | +36.7 pp | VIPS |
| FY2023 | +33.1 pp | VIPS |
| FY2022 | +18.1 pp | VIPS |
| FY2021 | −2.1 pp | YJ |
| FY2020 | +8.6 pp | VIPS |
| FY2019 | +5.3 pp | VIPS |
| FY2018 | +3.0 pp | VIPS |
| FY2017 | +4.2 pp | VIPS |
The higher net margin has changed hands between VIPS and YJ over this period.
9 of 16 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
YJ's net margin has been more volatile than VIPS's over the 9 comparable fiscal years — 15.5 percentage points of standard deviation against 1.8.
9 of 16 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between VIPS and YJ over these 9 fiscal years — VIPS led in 8 and YJ in 1.
9 of 16 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
VIPS's return on equity has been more volatile than YJ's over the 6 comparable fiscal years — 2.9 percentage points of standard deviation against 1.3.
6 of 14 comparable fiscal years — a year missing data on either side is not counted.
Year by year
VIPS led in return on equity in every one of the 6 comparable fiscal years — a structural lead, not a recent swing.
6 of 14 comparable fiscal years — a year missing data on either side is not counted.