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Shinhan Financial Group files its FY2024 Form 20-F to the SEC

SEOUL, South Korea, April 23, 2025 /PRNewswire/ — Shinhan Financial Group (NYSE: SHG) (KRX: 055550) filed its Annual Report on Form 20-F for the year ended December 31, 2024 with the U.S. Securities and Exchange Commission (SEC) on April 23, 2025. The report is available at Shinhan Financial Group’s Homepage, https://www.shinhangroup.com/en/ir/disclosure/overseas, as well as the U.S. Securities and Exchange Commission website, www.sec.gov.

A hard copy of the annual report will be provided to shareholders upon request, free of charge, via “shfg@shinhan.com“.

Contact: Seunghyun Ma, +82-2-6360-3327, seunghyun.ma@shinhan.com 

 

Baozun Files Annual Reports for Fiscal Year 2024

SHANGHAI, April 23, 2025 /PRNewswire/ — Baozun Inc. (Nasdaq: BZUN and HKEX: 9991) (“Baozun,” the “Company” or the “Group”), a leading brand e-commerce solution provider and digital commerce enabler in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission (the “SEC”). The annual report can be accessed on the Company’s investor relations website at http://ir.baozun.com as well as the SEC’s website at http://www.sec.gov.

The Company has also published its annual report in Hong Kong pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “HKEX”), which can be accessed on the Company’s investor relations website at http://ir.baozun.com as well as the HKEX’s website at http://www.hkexnews.hk .

The Company has adopted new arrangements for electronic dissemination of its annual reports to its shareholders and ADS holders as a promotion of its ESG initiatives. Requests for printed copy of the annual report should be directed to the Company’s IR Department at ir@baozun.com.

About Baozun Inc.

Founded in 2007, Baozun Inc. is a leader in brand e-commerce service, brand management, and digital commerce service. It serves more than 490 brands from various industries and sectors around the world, including East and Southeast Asia, Europe and North America as of December 31, 2024.

Baozun Inc. comprises three major business lines — Baozun e-Commerce (BEC), Baozun Brand Management (BBM) and Baozun International (BZI) and is committed to accelerating high-quality and sustainable growth. Driven by the principle that “Technology Empowers the Future Success,” Baozun’s business lines are devoted to empowering their clients’ business and navigating their new phase of development.

For more information, please visit http://ir.baozun.com.

For investor and media inquiries, please contact:

Baozun Inc.
Ms. Wendy Sun
Email: ir@baozun.com

Hainan fish on global tables: testament to successful Hainan Fresh Products initiative


HAIKOU, CHINA – Media OutReach Newswire – 23 April 2025 – At the 5th China International Consumer Products Expo held in Hainan recently, Wang Kangzheng, a marketing staff member of the Hainan Haiken Marine Industry Group Co., Ltd., has been busy showcasing premium seafood. Golden pompano produced in the deep-sea aquaculture base was a bestseller at the exhibition, and many buyers and visitors stopped to inquire, taste, and order.

Above picture: Hainan is speeding up the development of deep-sea and far-sea aquaculture. Following picture: Golden pompanos are farmed in the deep sea around Hainan.
Above picture: Hainan is speeding up the development of deep-sea and far-sea aquaculture. Following picture: Golden pompanos are farmed in the deep sea around Hainan.

“These golden pompanos were cultivated in the deep sea of Changjiang, Hainan, featuring no intermuscular bones, delicious meat, abundant unsaturated fatty acids, and multiple trace elements.” Wang Kangzheng said.

As the southernmost tropical island province in China, Hainan boasts a vast sea area, pristine water, and a suitable climate, which are ideal for fishery.

In recent years, Hainan has redoubled efforts in deep-sea and far-sea aquaculture and proposed three priorities: the shore, the deep sea, and recreational fishery. By the end of 2024, the scale of deep-sea and far-sea aquaculture water bodies exceeded 8.5 million cubic meters, and the total output of aquatic products reached 1.814 million tons, more than half of which were supplied to the domestic and international markets.

Left picture: Red flag groupers produced by Wanning Linlan Aquaculture Co., Ltd. (Photo credit: Luo Jiang, Xinhua News Agency) Right picture: Hainan Xiangtai Fishery's workers on the processing line of golden pompanos. (Photo credit: Guo Cheng, Xinhua News Agency)
Left picture: Red flag groupers produced by Wanning Linlan Aquaculture Co., Ltd. (Photo credit: Luo Jiang, Xinhua News Agency)
Right picture: Hainan Xiangtai Fishery’s workers on the processing line of golden pompanos. (Photo credit: Guo Cheng, Xinhua News Agency)

“At least 150,000 kilograms of golden pompanos caught in our deep-sea aquaculture base have been exported to Europe, America, and Southeast Asia during this harvest season,” Wu Zhiduo, chairman of Hainan Haiken Marine Industry Group Co., Ltd., expressed his joy at supplying dining tables around the world. In addition, Haiken has recently launched the Sanya Bay Deep-sea and Far-sea Aquaculture Project, focusing on the cultivation of high value-added deep-sea fish species with Hainan characteristics, such as golden pompano and grouper, to drive the construction of modern marine ranches.

Tilapia, known as the “fish of the 21st century,” has “grown” into a large industry since it “swam” to Hainan nearly three decades ago in the 20th century. According to the Hainan Department of Agriculture and Rural Affairs, almost 30% of China’s exported tilapia are produced in Hainan, while most of the tilapia in the European and American markets comes from China.

Hainan, where amberjack fries have been exported to Japan for nearly 40 years, plays a key role in global amberjack production. The Wanning Marine Fishery Association revealed that Hainan catches about 15 million natural fries every year, contributing to about 70% of China’s total exports. Earlier this month, a Japanese-flagged ship loaded with 170,000 amberjack fries set sail, marking the first batch of fry exports in the province this year.

As stated by the Hainan Department of Agriculture and Rural Affairs, Hainan promotes smart deep-sea aquaculture by adopting advanced data management and precise feeding systems so that professionals make informed decisions based on real-time parameters. Feed provided in the preset time and amount not only avoids waste but also boosts efficiency and quality. Today, Hainan’s golden pompano, grouper, tilapia, tuna, and other aquatic products are favored by more and more countries and regions: one reason is the excellent climate, while the other is detail-oriented scientific aquaculture.

In fact, Hainan’s aquatic product export has been constantly growing, thanks to the business-friendly policies of the Free Trade Port, the measures taken for the high-quality development of agricultural international trade, and the Hainan Fresh Products initiative. Nothing demonstrates the achievements better than data provided by the Haikou Customers: from January to February this year, Hainan’s aquatic products exported to the USA, the Netherlands, Canada, the UK, France, and Israel increased by 39.6%, 33.8%, 109.9%, 75.7%, 75.3%, and 52.2%, respectively.

The issuer is solely responsible for the content of this announcement.

Galaxy Macau™ Teamed Up with SCMP Live to Spark Ideas and Innovation by Presenting the Capital Insights Forum

Leading Experts Gathered at GICC to Transform Wealth Strategies in a New Era for Chinese Investors


MACAO SAR – Media OutReach Newswire – 23 April 2025 – Galaxy Macau™ partnered with South China Morning Post Live (SCMP Live) to jointly present the ground-breaking Capital Insights Forum: Transforming Wealth Strategies in a New Era for Chinese Investors, which took place to a packed curated audience on April 16 at the Galaxy International Convention Center (GICC). In an era marked by rapid shifts in geopolitics, economics, and technology, for today’s investors, identifying the hottest investment opportunities and staying ahead of emerging trends is more crucial than ever. The forum exclusively brought together ten of China’s leading investment experts, industry leaders, and visionary thinkers to explore five key landscapes navigating the future of wealth, with a global lens. From AI and digital assets to art and clean energy, speakers delivered forward-looking perspectives and actionable strategies.

On the afternoon of April 16, Galaxy Macau, in collaboration with SCMP Live, successfully hosted the Capital Insights Forum at the GICC.
On the afternoon of April 16, Galaxy Macau, in collaboration with SCMP Live, successfully hosted the Capital Insights Forum at the GICC.

The forum opened with a macroeconomic outlook, with lauded Managing Editor, Business and Projects at South China Morning Post Eugene Tang, joined on stage by Joe Ngai, Senior Partner and Chairman – Greater China, McKinsey & Company. Together, they set the stage in a fascinating discussion that explored how global monetary dynamics and geopolitical realignments are driving new investment trends and unlocking fresh opportunities.

The spotlight then turned to the evolving technology investment landscape, with Andy Wong, Head of Innovation and Technology at Invest Hong Kong, and Fred Li, Managing Director at Gobi Partners, sharing extensive insights into how the rapid rise of AI is shifting Chinese consumer behaviors and transforming traditional industries. Their session provided valuable visions for investors to catch emerging opportunities in the dynamic tech market.

Then, in a session focused on digital innovation, Michael Lau, Chairman of Consensus; Senior Vice President and Group Head of Business Development at Bullish, joined Christina Pantin, Senior Production Editor at SCMP Plus, for a fascinating conversation about demystifying and navigating the crypto world. They offered a clear framework for understanding the evolving logic of asset allocation in this exciting emerging space and what potentially lies ahead.

Shifting to traditional and emerging bricks and mortar investments, Elaine C Kwok, the respected Independent Art Consultant and Auctioneer, and Andy Hei, Founder and Co-chairman at Fine Art Asia, explored the revolution in digital art sales to the shifting preferences of a new generation of collectors. Their discussion demystified key trends in art investment, offering practical strategies for navigating this complex and rewarding market.

The final session addressed the critical topic of sustainability. Professor Christine Loh, Chief Development Strategist, Institute for the Environment, HKUST, and Ee Sin Tan, Partner at Ernst & Young, explored the burgeoning landscape of clean energy, analyzing policy incentives and the vast investment potential arising from China’s ambitious commitment to renewable energy targets.

The event welcomed over 60 investment specialists, offering forward-looking and practical wealth strategies tailored to today’s evolving investment world.
The event welcomed over 60 investment specialists, offering forward-looking and practical wealth strategies tailored to today’s evolving investment world.

Building on the success of the Parents’ Talk organized by Galaxy Macau and SCMP Learn, which sparked engaging discussions in March, the Capital Investment Forum represented an extension of the initiatives presented in challenging times for the investment sector. Looking ahead, Galaxy Macau remains committed to hosting high-level conferences with thought-leaders such as SCMP, aiming to bring the conversation with leading global speakers to Macau and the Greater Bay Area. Additionally, this landmark partnership with SCMP continues to enhance Galaxy Macau’s role in promoting world-class dialogues and cultural exchange, while ushering in a new era for the MICE industry in Macau.

GICC - Asia's most iconic and advanced MICE destination - is the latest addition to Galaxy Entertainment Group’s ever-expanding integrated resort precinct as it ushers in a new era for the MICE industry in Macau.
GICC – Asia’s most iconic and advanced MICE destination – is the latest addition to Galaxy Entertainment Group’s ever-expanding integrated resort precinct as it ushers in a new era for the MICE industry in Macau.

Hashtag: #GalaxyMacau #SCMPLive

The issuer is solely responsible for the content of this announcement.

About Galaxy Macau Integrated Resort

Galaxy Macau™, The World-class Luxury Integrated Resort delivers the “Most Spectacular Entertainment and Leisure Destination in the World”. Developed at an investment of HK$43 billion, the property covers 1.1 million-square-meter of unique entertainment and leisure attractions that are unlike anything else in Macau. Eight award-winning world-class luxury hotels provide close to 5,000 rooms, suites and villas. They include Banyan Tree Macau, Galaxy Hotel™, Hotel Okura Macau, JW Marriott Hotel Macau, The Ritz-Carlton, Macau, Broadway Hotel, Raffles at Galaxy Macau and Andaz Macau. Unique to Galaxy Macau, the 75,000-square-meter Grand Resort Deck features the world’s longest Skytop Adventure Rapids at 575-meters, the largest Skytop Wave Pool with waves up to 1.5-meters high and 150-meters pristine white sand beach. Two five-star spas from Banyan Tree Spa Macau and The Ritz-Carlton Spa, Macau help guests relax and rejuvenate.

As the dining destination in Asia, Galaxy Macau offers a wide variety of gastronomic delights, exquisite experiences and ingredients of the finest quality with over 120 dining options from Michelin dining to authentic delicacies; Galaxy Promenade is the hottest shopping destination featuring the latest in fashion and curated experiences in Macau. Spanning over 100,000-square-meter, luxury flagship stores, lifestyle boutiques and our selection of labels are among the more than 200 world-renowned brands for a world-class shopping journey; Galaxy Cinemas, immersive thrills and luxurious comfort go hand in hand at Galaxy Cinemas. All 10 theaters are equipped with the latest audio-visual technology; CHINA ROUGE, one-of-a-kind cabaret lounge that evokes the glamor of Shanghai’s golden era with stylish entertainment and customizable surrounds; and Foot Hub, which presents the traditional art of reflexology for authentic relaxation and revitalization. For Authentic Macau Flavours and Vibrant Asian Experiences, Broadway Macau – just a 90-second walk via a bridge from Galaxy Macau, has over 35 Authentic Macau & Asian Flavours at Broadway Food Street. The 2,500-seat Broadway Theatre plays host to world-class entertainers and a diverse array of cultural events. Meeting, incentive and banquet groups are also catered to with a portfolio of unique venues in Galaxy Macau and an expert service team.

Galaxy International Convention Center (GICC) is the latest addition to the Group’s ever-expanding integrated resort precinct and will usher in a new era for the MICE industry in Macau. GICC is a world-class event venue featuring 40,000-square-meters of total flexible MICE, and the 16,000-seat Galaxy Arena – the largest indoor arena in Macau.

For more details, please visit , and .

World Book, Publishing Day 2025: Laos Backs Local Authors, History

“A book isn’t something you force yourself to read, but something you do because you love it,” noted Robert George Cooper, a British-born anthropologist and well-known author of several books on Laos.

As the world celebrates World Book and Copyright Day today, 23 April, attention turns to figures like Cooper, individuals who have devoted their lives to literature and cultural exchange.

Cooper first arrived in Laos in 1973 during his PhD studies, later working with the United Nations on refugee repatriation and serving as head of the British Trade Office in Vientiane from 2000 to 2004.  

 

A linguist speaking English, French, Lao, Malay/Indonesian, and Thai, Cooper established his iconic bookshop in downtown Vientiane in 2007, which continues to thrive despite the digital age.

One of his most popular works is  “CultureShock! Laos: A Survival Guide to Customs and Etiquette.” This book guide offers practical insights into Lao culture, traditions, and social norms, making it valuable for travelers or anyone interested in understanding the nuances of life in Laos. 

CultureShock! Laos: A Survival Guide to Customs and Etiquette.

His newest release, “Laos: Making History in Search of Time Gone By,” was published in early 2025. The book traces Lao history from the Lan Xang era through French colonialism, the Indochina War, and into the complexities of modern-day Laos.

Robert Cooper’s Laos: Making History, a powerful reflection on the nation’s past from Lan Xang to modern Laos.

Now retired in Vientiane, Cooper expresses concern about reading habits among Lao youth. He notes that few young people embrace reading as a pathway to education and, by extension, the country’s economic development.

“In Laos, few people are able to read in English,” he notes. “Translating into the Lao language is a long process and often not worth doing because Lao people have very little to read in their own language; they even prefer to read Thai books.”

Despite this, Laos has made growing efforts to promote Lao-language literature. Events like the annual Vientiane Book Festival, held each November, aim to ignite a love of reading, especially among children and students.

While many young readers gravitate toward Thai books for their variety and professional quality—bolstered by Thailand’s larger publishing industry—others are turning their attention toward supporting local authors. Still, the road ahead remains challenging. 

With only 15 to 20 publishing houses operating across the country, the Lao publishing industry is relatively small.

In a previous interview with the Laotian Times, writer and publisher Phoumpanya Douangpaseuth emphasized the need for stronger local support. 

He urged readers to back Lao creators to help build a more self-sustaining literary culture.

Meanwhile, Laos continues to nurture its literary scene with the hope that more readers will turn to local authors and support homegrown stories.

Baozun Releases 2024 Chairman Letter

SHANGHAI, April 23, 2025 /PRNewswire/ — 

Dear Shareholders:

On behalf of the Board of Directors and the management team at Baozun, I would like to express our deepest appreciation for your continued support and trust — especially during a year marked by global volatility and uncertainty across capital markets.

Adapting to a Changing Environment

In response to a rapidly shifting macroeconomic and digital landscape, Baozun continued its strategic transformation in 2024 to stay agile, competitive, and future-ready. Our evolution is more than a vision — it’s a deliberate strategy to align with changing consumer behavior, market dynamics, and emerging technologies.

2024: A Year of Strategic Progress

Despite external headwinds, Baozun achieved 7% year-over-year revenue growth in 2024 and reached operating profit breakeven — an important milestone that demonstrates our disciplined execution and operational efficiency.

Baozun e-Commerce (BEC) returned to topline growth in 2024 after two consecutive years of contraction, while also delivering expansion in its non-GAAP operating margin. To navigate an ever-evolving market, we enhanced our creative content capabilities and leveraged proprietary technologies to help brand partners capitalize on platform interconnectivity, data intelligence, and AI-driven efficiencies. By year-end, BEC supported over 490 brand partners, up from more than 450 in 2023. Our Net Promoter Score (NPS), measured by Neilsen, rose to 8.53 from 8.23 the previous year — reflecting the trust we’ve built with our partners and reinforced by a strong 95% renewal rate among key accounts. Once again, we were recognized as a Top Service Provider on both the Alibaba and Tencent WeChat ecosystems. In 2024, we also earned top awards across additional platforms, including Douyin, JD.com, and Rednote.

Baozun Brand Management (BBM) delivered 16% revenue growth in 2024 while narrowing adjusted operating losses by 10%. Our China-for-China strategy continues to evolve with promising progress, particularly in product innovation, marketing, and channel development. We worked closely with Gap Inc. to strengthen the brand’s DNA and enhance our localization efforts. Throughout the year, we optimized our offline store network and leveraged a strategic partnership model to expand in emerging cities — further sharpening our competitive edge while mitigating expansion risk. By the end of 2024, the total number of Gap stores in China increased to 152, and store-level unit economics showed a healthy upward trend.

Baozun International (BZI), represents a long-term growth opportunity, and we continue to lay a solid foundation for the business and its supporting infrastructure. In 2024, we expanded our regional presence by introducing Hunter, another BBM brand, to Singapore and Malaysia, while building a strong team across Southeast Asia. These strategic moves broaden our market access and strengthen synergies across business lines.

Technology as a Catalyst for Efficiency and Innovation

We believe our strength in technology — applied across operations and business transformation — is central to Baozun’s identity. Building on this foundation, we continue to advance our capabilities and drive innovation in technology monetization, capitalizing on the momentum of omnichannel growth and the seamless integration of online and offline experiences.

We are proud that Baozun has been recognized as a Representative Vendor in Gartner’s 2024 Market Guide for Distributed Order Management Systems (“OMS”) and Direct-to-Consumer (“DTC”) solutions. Tailored for the Chinese market, our OMS and DTC offerings provide a secure, scalable, and flexible commerce platform, empowering our brand partners to accelerate their growth. In 2024, we further enhanced generative AI and large language models in operations, offering agile and sustainable digital transformation.

Advancing Sustainability

As we move forward in our journey, we remain steadfast in our commitment to leading the e-commerce industry toward a more efficient, inclusive, and sustainable future. We employ a green operations strategy to reduce our environmental footprint across offices, warehousing, logistics, packaging, and partnerships — efforts that have contributed to significantly reducing our greenhouse gas emissions. In 2024, we achieved ISO 14064 carbon verification for three warehouse and logistics parks, with two attaining PAS 2060 carbon-neutral status.

In addition, we prioritize a “people-first” philosophy in our organizational and community efforts. By fostering a sense of “vitality” through various activities, we help employees feel a strong sense of belonging and happiness, cultivating a positive workplace environment. Our talent strategy emphasizes “individual growth and team success,” establishing a framework that aligns personal achievement with corporate goals.

Looking Ahead

As we enter the final year of our three-year strategic transformation, we remain committed to maintaining our momentum while adapting to a rapidly shifting external landscape. Following the transformation, we anticipate that BEC, our core business, will enter a phase of quality growth, generating consistent and reliable cash flow. BBM is poised to capture new opportunities and create value for brand equity, driving additional revenue and becoming our new growth driver. By diversifying our revenue streams and ensuring solid financial stability, we aim to position the company for long-term success and resilience in an ever-evolving market.

We are grateful to our employees, customers, and partners for their dedication. We have also further strengthened our leadership team, bringing in deep expertise, strategic vision, and entrepreneurial zeal.

Together, we have navigated adversity and achieved measurable progress. With a continued focus on innovation, operational excellence, and financial discipline, I am confident in Baozun’s future and remain committed to delivering sustainable and long-term value.

Thank you for your continued support and confidence in our vision.

Sincerely,
Vincent Wenbin Qiu
Chairman and Chief Executive Officer
Baozun Inc.

About Baozun Inc.

Founded in 2007, Baozun Inc. is a leader in brand e-commerce service, brand management, and digital commerce service. It serves more than 490 brands from various industries and sectors around the world, including East and Southeast Asia, Europe and North America as of December 31, 2024.

Baozun Inc. comprises three major business lines — Baozun e-Commerce (BEC), Baozun Brand Management (BBM) and Baozun International (BZI) and is committed to accelerating high-quality and sustainable growth. Driven by the principle that “Technology Empowers the Future Success,” Baozun’s business lines are devoted to empowering their clients’ business and navigating their new phase of development.

For more information, please visit http://ir.baozun.com.

For investor and media inquiries, please contact:

Baozun Inc.
Ms. Wendy Sun
Email: ir@baozun.com 

MEXC Strengthens Reserve Backing with $390M Asset Increase

VICTORIA, Seychelles, April 23, 2025 /PRNewswire/ — MEXC, a leading global cryptocurrency exchange, has significantly bolstered its reserve holdings, reporting an increase of approximately $389 million in total asset value over the past two months (as of April 21, 2025). The latest audit of MEXC’s Proof of Reserves confirms that all major cryptocurrencies are backed by reserves exceeding 100%, underscoring the exchange’s strong liquidity position and commitment to financial transparency.

MEXC Strengthens Reserve Backing with $390M Asset Increase
MEXC Strengthens Reserve Backing with $390M Asset Increase

Reserve Ratio Update Reflects Strong Growth

As of April 2025, MEXC’s reserve ratios continue to demonstrate solid coverage across all major cryptocurrencies:

graph 1
graph 1

The updated reserve ratios highlight consistent over-collateralization, reinforcing user confidence in the platform’s ability to meet withdrawal demands at any time.

Substantial Asset Growth Over Two Months

A comparison between February and April 2025 reveals a notable surge in MEXC’s asset holdings, with total on-chain reserves increasing by approximately $389.1 million:

graph 2
graph 2

The sharp rise signals robust capital inflows during this two-month period.

Strong Capital Inflow Signals Growing Market Confidence

The substantial increase in our reserves over the past two months reflects growing confidence in MEXC’s platform during recent market conditions,” said Tracy Jin, COO of MEXC. “With nearly $390 million in added value to our reserves, we’re not just maintaining our commitment to user security — we’re strengthening it.”

The latest data shows notable growth in Bitcoin and Ethereum holdings, with reserves increasing by 1,649.72 BTC and 21,264.46 ETH, respectively. At current market prices, these additions represent over $179 million in combined value, underscoring rising user activity and capital inflow.

Commitment to Transparency and Security

MEXC continues to conduct bi-monthly Proof of Reserve audits as part of its broader commitment to transparency and user trust. These regular reports allow users to independently verify that their assets are fully backed on-chain, with the latest audit confirming near-zero discrepancies between public blockchain data and platform records.

“Transparency isn’t just a policy at MEXC — it’s a fundamental principle guiding our operations,” added Tracy Jin. “By publishing these comprehensive reserve reports every two months, we ensure our users have full visibility into the security of their assets.

Multi-layered Security Framework

MEXC safeguards user assets through a comprehensive security architecture that includes:

  1. 100%+ Reserve Backing: All user assets are fully backed with reserves exceeding total deposits
  2. Insurance Fund: Provides protection against extreme market volatility
  3. Regular Audits: Bi-monthly verification ensures continued compliance and transparency
  4. Cold Wallet Storage: The majority of user funds are held in offline, secure cold wallets to prevent unauthorized access

The Go-To Platform for Seamless Crypto Trading

In addition to implementing robust safety measures to ensure a secure trading environment, the platform offers a variety of features and services designed to enhance the user experience. These features help traders minimize costs and maximize returns. MEXC is committed to empowering traders by enabling investments across the widest range of assets, ensuring safe and seamless transactions regardless of market conditions.

  • M – Most Trending Tokens: MEXC is known for its rapid token listings and diverse selection of popular tokens, helping users capitalize on emerging opportunities. To date, over 3,000 tokens have been listed on the platform.
  • E – Everyday Airdrops: MEXC makes it easy for users to engage in daily airdrop events and receive substantial rewards without complex procedures. In 2024, the platform completed 2,293 airdrop events, distributing over $136 million in rewards.
  • X – Xtremely Low Fees: MEXC offers highly competitive trading fees, helping users reduce costs and maximize their growth potential.
  • C – Comprehensive Liquidity: Backed by strong liquidity and market depth, MEXC ensures the efficient and seamless execution of every transaction, minimizing slippage even during volatile conditions.

These features have helped MEXC attract over 36 million users, establishing it as the platform of choice for an increasing number of traders around the world.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website X Telegram |How to Sign Up on MEXC

Risk Disclaimer:

The information provided in this article about cryptocurrencies does not represent MEXC’s official stance or investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully evaluate market fluctuations, project fundamentals, and potential financial risks before making any trading decisions.

Baozun Releases 2024 Chairman Letter

SHANGHAI, April 23, 2025 /PRNewswire/ — 

Dear Shareholders:

On behalf of the Board of Directors and the management team at Baozun, I would like to express our deepest appreciation for your continued support and trust — especially during a year marked by global volatility and uncertainty across capital markets.

Adapting to a Changing Environment

In response to a rapidly shifting macroeconomic and digital landscape, Baozun continued its strategic transformation in 2024 to stay agile, competitive, and future-ready. Our evolution is more than a vision — it’s a deliberate strategy to align with changing consumer behavior, market dynamics, and emerging technologies.

2024: A Year of Strategic Progress

Despite external headwinds, Baozun achieved 7% year-over-year revenue growth in 2024 and reached operating profit breakeven — an important milestone that demonstrates our disciplined execution and operational efficiency.

Baozun e-Commerce (BEC) returned to topline growth in 2024 after two consecutive years of contraction, while also delivering expansion in its non-GAAP operating margin. To navigate an ever-evolving market, we enhanced our creative content capabilities and leveraged proprietary technologies to help brand partners capitalize on platform interconnectivity, data intelligence, and AI-driven efficiencies. By year-end, BEC supported over 490 brand partners, up from more than 450 in 2023. Our Net Promoter Score (NPS), measured by Neilsen, rose to 8.53 from 8.23 the previous year — reflecting the trust we’ve built with our partners and reinforced by a strong 95% renewal rate among key accounts. Once again, we were recognized as a Top Service Provider on both the Alibaba and Tencent WeChat ecosystems. In 2024, we also earned top awards across additional platforms, including Douyin, JD.com, and Rednote.

Baozun Brand Management (BBM) delivered 16% revenue growth in 2024 while narrowing adjusted operating losses by 10%. Our China-for-China strategy continues to evolve with promising progress, particularly in product innovation, marketing, and channel development. We worked closely with Gap Inc. to strengthen the brand’s DNA and enhance our localization efforts. Throughout the year, we optimized our offline store network and leveraged a strategic partnership model to expand in emerging cities — further sharpening our competitive edge while mitigating expansion risk. By the end of 2024, the total number of Gap stores in China increased to 152, and store-level unit economics showed a healthy upward trend.

Baozun International (BZI), represents a long-term growth opportunity, and we continue to lay a solid foundation for the business and its supporting infrastructure. In 2024, we expanded our regional presence by introducing Hunter, another BBM brand, to Singapore and Malaysia, while building a strong team across Southeast Asia. These strategic moves broaden our market access and strengthen synergies across business lines.

Technology as a Catalyst for Efficiency and Innovation

We believe our strength in technology — applied across operations and business transformation — is central to Baozun’s identity. Building on this foundation, we continue to advance our capabilities and drive innovation in technology monetization, capitalizing on the momentum of omnichannel growth and the seamless integration of online and offline experiences.

We are proud that Baozun has been recognized as a Representative Vendor in Gartner’s 2024 Market Guide for Distributed Order Management Systems (“OMS”) and Direct-to-Consumer (“DTC”) solutions. Tailored for the Chinese market, our OMS and DTC offerings provide a secure, scalable, and flexible commerce platform, empowering our brand partners to accelerate their growth. In 2024, we further enhanced generative AI and large language models in operations, offering agile and sustainable digital transformation.

Advancing Sustainability

As we move forward in our journey, we remain steadfast in our commitment to leading the e-commerce industry toward a more efficient, inclusive, and sustainable future. We employ a green operations strategy to reduce our environmental footprint across offices, warehousing, logistics, packaging, and partnerships — efforts that have contributed to significantly reducing our greenhouse gas emissions. In 2024, we achieved ISO 14064 carbon verification for three warehouse and logistics parks, with two attaining PAS 2060 carbon-neutral status.

In addition, we prioritize a “people-first” philosophy in our organizational and community efforts. By fostering a sense of “vitality” through various activities, we help employees feel a strong sense of belonging and happiness, cultivating a positive workplace environment. Our talent strategy emphasizes “individual growth and team success,” establishing a framework that aligns personal achievement with corporate goals.

Looking Ahead

As we enter the final year of our three-year strategic transformation, we remain committed to maintaining our momentum while adapting to a rapidly shifting external landscape. Following the transformation, we anticipate that BEC, our core business, will enter a phase of quality growth, generating consistent and reliable cash flow. BBM is poised to capture new opportunities and create value for brand equity, driving additional revenue and becoming our new growth driver. By diversifying our revenue streams and ensuring solid financial stability, we aim to position the company for long-term success and resilience in an ever-evolving market.

We are grateful to our employees, customers, and partners for their dedication. We have also further strengthened our leadership team, bringing in deep expertise, strategic vision, and entrepreneurial zeal.

Together, we have navigated adversity and achieved measurable progress. With a continued focus on innovation, operational excellence, and financial discipline, I am confident in Baozun’s future and remain committed to delivering sustainable and long-term value.

Thank you for your continued support and confidence in our vision.

Sincerely,
Vincent Wenbin Qiu
Chairman and Chief Executive Officer
Baozun Inc.

About Baozun Inc.

Founded in 2007, Baozun Inc. is a leader in brand e-commerce service, brand management, and digital commerce service. It serves more than 490 brands from various industries and sectors around the world, including East and Southeast Asia, Europe and North America as of December 31, 2024.

Baozun Inc. comprises three major business lines — Baozun e-Commerce (BEC), Baozun Brand Management (BBM) and Baozun International (BZI) and is committed to accelerating high-quality and sustainable growth. Driven by the principle that “Technology Empowers the Future Success,” Baozun’s business lines are devoted to empowering their clients’ business and navigating their new phase of development.

For more information, please visit http://ir.baozun.com.

For investor and media inquiries, please contact:

Baozun Inc.
Ms. Wendy Sun
Email: 
ir@baozun.com