China's VIPshop posts stronger-than-expected earnings

NEW YORK, Nov. 14 (Xinhua) -- China's leading online flash sales retailer, VIPshop Holdings Ltd, on Wednesday said its net revenue in the third quarter topped 155.9 million dollars, up 197 percent when compared with a year ago.

Donghao Yang, CFO of VIPshop, contributed the stronger-than- expected earnings to a fast expanding retail e-commerce business and a growing middle class in China.

The company also expects its net revenue for the fourth quarter of 2012 to be between 235 million dollars and 240 million dollars, or a year-on-year growth rate of 123 percent to 128 percent, and its net revenue to hit between 627 million dollars and 632 million dollars for the whole year of 2012, up 176 percent to 178 percent year on year.

VIPshop Holdings Ltd, based in Guangzhou, south China's Guangdong Province, was listed in the New York Stock Exchange in March 23, 2012.

We recommend:
A Decade of Fastest Development	Eastern Boom Lightens Western Gloom	Oct. data released, inflation slows
Gold collection issued to mark 'Year of Snake'	China: A Fast-growing Force in IPR	13th Int'l Automobile Industry Exhibition
China Int'l Industry Fair opens in Shanghai	Caofeidian coal wharf put into use	Canton Fair wraps up on Sunday