Segment information (Tables)

12 Months Ended

Dec. 31, 2019

Segment information

Summary of operating segment results

	Year ended December 31,
	2017			2018			2019
	RMB			RMB			RMB
Net revenues
Vip.com		72,875,234			84,159,609			91,435,282
Shan Shan Outlets		—			—			245,817
Others		249,726			753,752			2,638,702
Inter-segment revenues (Note a)		(212,647	)		(389,413	)		(1,325,383	)
Total net revenues		72,912,313			84,523,948			92,994,418
Income (loss) from operations
Vip.com		4,063,238			3,353,658			5,267,814
Shan Shan Outlets		—			—			6,255
Others		(366,025	)		(215,459	)		227,719
Unallocated expenses (Note b)		(1,006,767	)		(717,086	)		(728,414	)
Total income from operations		2,690,446			2,421,113			4,773,374
Total other (expenses) income		(149,593	)		325,962			169,431
Income before income taxes and share of loss of equity-method investees		2,540,853			2,747,075			4,942,805

Schedule of depreciation of property and equipment, net (included in the measurement of segment profit or loss)

	Year ended December 31,
	2017		2018		2019
	RMB		RMB		RMB
Total depreciation of property and equipment, net
Vip.com		714,656		715,087		771,049
Shan Shan Outlets		—		—		22,551
Others		6,184		55,203		36,768
		720,840		770,290		830,368

Note:

(a) Inter-segment revenues mainly consist of payment processing, financing services provided by the internet finance business to Vip.com, promotion services provided by Vip.com to internet finance business and internal procurement between offline shops and Vip.com.

(b) Unallocated expenses include share-based compensation and amortization of intangible assets resulting from assets and business acquisitions, which are not allocated to segments.

Schedule of interest income and expenses

	Year ended December 31,
	2017			2018			2019
	RMB			RMB			RMB
Interest income
Vip.com		192,052			232,494			167,550
Shan Shan Outlets		—			—			11,746
Others		4,252			36,946			54,765
Inter-segment interest income		(95,179	)		(26,568	)		(17,034	)
		101,125			242,872			217,027
Interest expense
Vip.com		(55,821	)		(103,504	)		(42,424	)
Shan Shan Outlets		—			—			(8,989	)
Others		(121,793	)		(82,808	)		(51,625	)
Inter-segment interest income		95,179			26,568			17,034
		(82,435	)		(159,744	)		(86,004	)

	Year ended December 31,
	2017			2018			2019
	RMB			RMB			RMB
Net income of investments accounted under the equity method
Vip.com		(22,280	)		(46,999	)		(25,590	)
Shan Shan Outlets		—			—			52,772
		(22,280	)		(46,999	)		27,182

Schedule of information about segment assets

	Year ended December 31,
	2018		2019
	RMB		RMB
Total assets
Vip.com		34,867,619		37,727,525
Shan Shan Outlets		—		5,732,260
Others		8,695,044		5,122,893
		43,562,663		48,582,678
Investments in equity-method investees
Vip.com		667,427		737,806
Shan Shan Outlets		—		2,375,146
		667,427		3,112,952
Total expenditure for additions of long-lived assets
Vip.com		3,556,067		3,260,978
Shan Shan Outlets		—		641,722
Others		37,893		374,973
		3,593,960		4,277,673

Schedule of revenues from different product groups and services

	Year ended December 31,
	2017		2018		2019
	RMB		RMB		RMB
Product revenues
Apparel		24,642,418		30,446,797		33,575,532
Shoes and bags		8,340,015		8,442,178		9,045,520
Cosmetics		10,607,267		11,700,310		14,645,878
Sportswear and sporting goods		4,747,077		5,699,740		7,333,523
Home goods and other lifestyle products		9,875,682		9,808,677		8,306,962
Toys, kids and baby		6,978,246		8,013,615		10,096,808
Other goods		5,980,948		7,398,958		5,717,088
		71,171,653		81,510,275		88,721,311
Other revenues		1,740,660		3,013,673		4,273,107
Total net revenues		72,912,313		84,523,948		92,994,418