Vipshop SVIP tops 10 million as Q2 buybacks and dividends continue
Vipshop reported Q2 2026 net revenue of RMB 24.7 billion, while non-GAAP net income fell to RMB 392 million from RMB 2.1 billion, mainly due to a one-time RMB 1.56 billion withholding tax adjustment tied to historical dividend distributions. SVIP surpassed 10 million users, with active SVIP users driving over half of online sales. In the first half, Vipshop returned nearly USD 400 million via dividends and share repurchases.