Online discount retailer Vipshop sees 7.3% revenue growth in Q1

GUANGZHOU - Vipshop Holdings Ltd, China's major online discount retailer, generated total net revenues of 21.3 billion yuan ($3.1 billion) in the first quarter of 2019, up 7.3 percent year-on-year, it said in a report Thursday.

Net income attributable to Vipshop's shareholders was 873.2 million yuan, up 64.7 percent from a year earlier. The performance puts Vipshop in the black for 26 straight quarters.

The number of active customers for the first quarter increased by 14 percent year on year to 29.7 million, while the total number of orders rose by 29 percent to reach 116.5 million.

In the first quarter, strategic cooperation with Tencent and JD.com contributed about 25 percent of new customers to Vipshop, according to the report.

Launched in 2008 as Vipshop.com, the company was listed on the New York Stock Exchange in 2012, and a year later launched Vip.com.