Vipshop Holdings Limited
boothcheck covers Vipshop Holdings Limited (VIPS) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed June 28, 2026.
• Vipshop is a Chinese online discount retailer that sells branded apparel at markdown to a loyal base, anchored by a growing high-value SVIP membership, with first-quarter 2026 revenue of RMB26.6 billion up 1.2% and operating margin of 9.4% [Source: Q1 2026 results, 2026]. • The defining feature is the disconnect between price and balance sheet: the stock trades at a fraction of what its assets and earnings power support, it holds roughly $3.3 billion of net cash, and it has been shrinking its
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265 institutional managers reported holding VIPS in 13F filings for the quarter ended 2026-03-31. Together they hold about 51% of the company; the top 10 hold 29%. 23 opened new positions that quarter. Held by BlackRock, Invesco, Acadian Asset Management, among others. On the short side, 5.7M shares were sold short as of the 2026-06-15 count, about 1% of shares outstanding (2.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
VIPS has cut its share count 26.5% over the past five years, spending $3.17B on repurchases. It pays a dividend, and has for 1 year running. Cash returned over the past three years: $256.74M in dividends and $1.96B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.