# Vipshop Holdings Ltd: Form 20-F for the period ended Dec 31, 2025

- Company: [Vipshop Holdings Ltd](/companies/vips.md) (CIK 1529192)
- Form: 20-F
- Filed: 2026-04-16
- Accepted by EDGAR: Apr 16, 2026, 10:45 ET
- Period: 2025-12-31
- Accession: 0001104659-26-044015
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/1529192/000110465926044015/vips-20251231x20f.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/1529192/000110465926044015/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2025-12-31.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Revenue | 12 months, 2025-01-01 to 2025-12-31 | $15.15bn | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
| Cost of revenue | 12 months, 2025-01-01 to 2025-12-31 | $11.64bn | us-gaap:CostOfGoodsAndServicesSold |
| Gross profit | 12 months, 2025-01-01 to 2025-12-31 | $3.50bn | us-gaap:GrossProfit |
| Operating income | 12 months, 2025-01-01 to 2025-12-31 | $1.16bn | us-gaap:OperatingIncomeLoss |
| Interest expense | 12 months, 2025-01-01 to 2025-12-31 | $12.9m | us-gaap:InterestExpense |
| Income tax | 12 months, 2025-01-01 to 2025-12-31 | $257.2m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 12 months, 2025-01-01 to 2025-12-31 | $1.04bn | us-gaap:NetIncomeLoss |
| Diluted EPS | 12 months, 2025-01-01 to 2025-12-31 | $10.12 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 12 months, 2025-01-01 to 2025-12-31 | $10.35 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 12 months, 2025-01-01 to 2025-12-31 | 102,383,890 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 12 months, 2025-01-01 to 2025-12-31 | $1.07bn | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 12 months, 2025-01-01 to 2025-12-31 | $284.0m | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Dividends paid | 12 months, 2025-01-01 to 2025-12-31 | $256.7m | us-gaap:PaymentsOfDividendsCommonStock |
| Share repurchases | 12 months, 2025-01-01 to 2025-12-31 | $706.5m | us-gaap:PaymentsForRepurchaseOfCommonStock |
| Cash and equivalents | at 2025-12-31 | $3.29bn | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | at 2025-12-31 | $5.66bn | us-gaap:AssetsCurrent |
| Total assets | at 2025-12-31 | $11.27bn | us-gaap:Assets |
| Current liabilities | at 2025-12-31 | $4.42bn | us-gaap:LiabilitiesCurrent |
| Total liabilities | at 2025-12-31 | $4.92bn | us-gaap:Liabilities |
| Short-term borrowings | at 2025-12-31 | $835.8m | us-gaap:ShortTermBorrowings |
| Shareholders' equity | at 2025-12-31 | $5.86bn | us-gaap:StockholdersEquity |

## Sections

Sections are extracted only from 10-K and 10-Q reports. Read this filing’s documents on sec.gov. https://www.sec.gov/Archives/edgar/data/1529192/000110465926044015/vips-20251231x20f.htm

Filed Apr 16, 2026.
Source: SEC EDGAR, the filing index for accession 0001104659-26-044015. Last ingested by Listed: Oct 24, 2026, 15:13 ET. No prices; not investment advice.