SEC Filings

Form 20-F
VIPSHOP HOLDINGS LTD filed this Form 20-F on 04/14/2017
Document Outline
Entire Document (10527.4 KB)
Subdocument 1 - 20-F - 20-F
Page 1 - UNITED STATES
Page 2 - TABLE OF CONTENTS
Page 3 - INTRODUCTION
Page 4 - PART I.
Page 5 - N/A
Page 6 - N/A
Page 7 - Exchange Rate Information
Page 8 - Risk Factors
Page 9 - If we are unable to offer branded products at attractive prices to meet customer needs and preferenc
Page 10 - If we fail to manage our relationships with, or otherwise fail to procure products at favorable term
Page 11 - We rely on our invested and in-house last mile delivery capabilities and third-party delivery servic
Page 12 - Our relatively limited operating history makes it difficult to evaluate our business and prospects.
Page 13 - We may suffer losses if we are unable to effectively manage our inventory.
Page 14 - We rely on online retail of apparel products for a significant portion of our total net revenues.
Page 15 - The proper functioning of our IT systems is essential to our business. Any failure to maintain the s
Page 16 - We have limited experience in operating an Internet finance business, and increasing exposure to cre
Page 17 - Our wide variety of accepted payment methods subject us to third-party payment processing-related ri
Page 18 - We may incur liability for counterfeit or unauthorized products sold or information posted on our pl
Page 19 - We may not be able to prevent others from unauthorized use of our intellectual property, which could
Page 20 - lefeng.com
Page 21 - We may be subject to product liability claims if people or properties are harmed by the products we
Page 22 - Failure to renew our current leases or locate desirable alternatives for our facilities could materi
Page 23 - If we fail to implement and maintain an effective system of internal controls, we may be unable to a
Page 24 - Our results of operations are subject to quarterly fluctuations due to a number of factors that coul
Page 25 - N/A
Page 26 - We rely on contractual arrangements with our consolidated affiliated entities and their respective s
Page 27 - The shareholders of our consolidated affiliated entities have potential conflict of interest with us
Page 28 - Substantial uncertainties exist with respect to the enactment timetable, interpretation and implemen
Page 29 - Our contractual arrangements with our consolidated affiliated entities may result in adverse tax con
Page 30 - If our PRC subsidiaries and consolidated affiliated entities fail to obtain and maintain the requisi
Page 31 - Uncertainties with respect to the PRC legal system could adversely affect us.
Page 32 - We may be adversely affected by the complexity, uncertainties and changes in PRC regulation of Inter
Page 33 - The audit reports included in this annual report have been prepared by our independent registered pu
Page 34 - Fluctuations in exchange rates may materially and adversely affect your investment.
Page 35 - Governmental control of currency conversion may limit our ability to utilize our revenue effectively
Page 36 - Certain PRC regulations may make it more difficult for us to pursue growth through acquisitions.
Page 37 - PRC regulations relating to the establishment of offshore holding companies by PRC residents may sub
Page 38 - Failure to comply with PRC regulations regarding the registration requirements for employee stock in
Page 39 - We face uncertainty with respect to indirect transfers of equity interests in PRC resident enterpris
Page 40 - It is unclear whether we will be considered a PRC "resident enterprise" under the PRC Enterprise Inc
Page 41 - The enforcement of the Labor Contract Law and other labor-related regulations in China may adversely
Page 42 - An occurrence of a widespread health epidemic or other outbreaks could materially and adversely affe
Page 43 - Because we do not expect to pay dividends in the foreseeable future, you must rely on price apprecia
Page 44 - The fundamental change repurchase feature of the senior convertible notes we offered in the 2014 off
Page 45 - You may be subject to limitations on transfer of your ADSs.
Page 46 - Our memorandum and articles of association contain anti-takeover provisions that could adversely aff
Page 47 - As a company incorporated in the Cayman Islands, we may adopt certain home country practices in rela
Page 48 - ITEM 4. INFORMATION ON THE COMPANY
Page 49 - lefeng.com
Page 50 - www.vip.com
Page 51 - Our Flash Sales Model
Page 52 - Our Vipshop Online Platform
Page 53 - Our Brand Partners
Page 54 - Product Selection
Page 55 - Our Product and Service Offerings
Page 56 - Other Services
Page 57 - Delivery Services
Page 58 - Customer Service
Page 59 - Technology
Page 60 - Intellectual Property
Page 61 - Regulations on Value-Added Telecommunications Services
Page 62 - Foreign Investment in Value-Added Telecommunication Services
Page 63 - vip.com
Page 64 - Regulations Relating to Distribution of Books and Audio-Video Products
Page 65 - Regulations on E-Commerce
Page 66 - Regulation on Microcredit Services
Page 67 - Regulation on Insurance Agency
Page 68 - Regulation on Courier Services and Road Transportation Services
Page 69 - Regulations on Software Products
Page 70 - Regulations on Domain Names
Page 71 - Regulations on Dividend Distribution
Page 72 - Regulations on Stock Incentive Plans
Page 73 - Regulations on Tax
Page 74 - N/A
Page 75 - N/A
Page 76 - PRC Value-Added Tax in Lieu of Business Tax (VAT Pilot Program)
Page 77 - Employment Laws
Page 78 - Organizational Structure
Page 79 - vip.com
Page 80 - Contractual Arrangements Relating to Vipshop Information
Page 81 - Powers of Attorney.
Page 82 - Property, Plants and Equipment
Page 83 - ITEM 4A. UNRESOLVED STAFF COMMENTS
Page 84 - Net Revenues
Page 85 - Fulfillment expenses.
Page 86 - Seasonality
Page 87 - N/A
Page 88 - N/A
Page 89 - Critical Accounting Policies
Page 90 - Revenue recognition
Page 91 - vip.com
Page 92 - Goodwill
Page 93 - Recent Accounting Pronouncements
Page 94 - N/A
Page 95 - N/A
Page 96 - N/A
Page 97 - Inflation
Page 98 - Comparison of 2015 and 2016
Page 99 - Gross Profit and Gross Margin.
Page 100 - General and administrative expenses.
Page 101 - Cost of Goods Sold.
Page 102 - Marketing expenses.
Page 103 - Net Income.
Page 104 - Operating Activities
Page 105 - N/A
Page 106 - Investing Activities
Page 107 - Research and Development, Patents and Licenses, etc.
Page 108 - Tabular Disclosure of Contractual Obligations
Page 109 - ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES
Page 110 - Mr. Arthur Xiaobo Hong
Page 111 - Mr. Nanyan Zheng
Page 112 - Employment Agreements
Page 113 - Plan Administration.
Page 114 - 2012 Share Incentive Plan
Page 115 - Corporate Transactions.
Page 116 - Option Exercise Price.
Page 117 - Share Incentive Grants
Page 118 - Committees of the Board of Directors
Page 119 - Duties of Directors
Page 120 - Share Ownership
Page 121 - N/A
Page 122 - N/A
Page 123 - ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS
Page 124 - Legal Proceedings
Page 125 - ITEM 9. THE OFFER AND LISTING
Page 126 - Expenses of the Issue
Page 127 - Transfer of Shares.
Page 128 - Inspection of Books and Records.
Page 129 - Enterprise Income Tax for Share Transfer by Non-PRC Resident Enterprises
Page 130 - PRC Value-Added Tax (VAT) Law
Page 131 - minus
Page 132 - Passive Foreign Investment Company Considerations
Page 133 - Dividends
Page 134 - Sale or Other Disposition of ADSs or Class A Ordinary Shares
Page 135 - N/A
Page 136 - Information Reporting
Page 137 - ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Page 138 - ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES
Page 139 - Fees and Other Payments Made by the Depositary to Us
Page 140 - ITEM 15. CONTROLS AND PROCEDURES
Page 141 - Attestation Report of the Registered Public Accounting Firm
Page 142 - ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES
Page 143 - ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
Page 144 - PART III.
Page 145 - N/A
Page 146 - N/A
Page 147 - SIGNATURES
Page 148 - VIPSHOP HOLDINGS LIMITED
Page 149 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 150 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 151 - VIPSHOP HOLDINGS LIMITED
Page 152 - VIPSHOP HOLDINGS LIMITED
Page 153 - VIPSHOP HOLDINGS LIMITED
Page 154 - CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Page 155 - VIPSHOP HOLDINGS LIMITED
Page 156 - VIPSHOP HOLDINGS LIMITED
Page 157 - CONSOLIDATED STATEMENTS OF CASH FLOWS
Page 158 - CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
Page 159 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Page 160 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 161 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 162 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 163 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 164 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 165 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 166 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 167 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 168 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 169 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 170 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 171 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 172 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 173 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 174 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 175 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 176 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 177 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 178 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 179 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 180 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 181 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 182 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 183 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 184 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 185 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 186 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 187 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 188 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 189 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 190 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 191 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 192 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 193 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 194 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 195 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 196 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 197 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 198 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 199 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 200 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 201 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 202 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 203 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 204 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 205 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 206 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 207 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 208 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 209 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 210 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 211 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 212 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 213 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 214 - VIPSHOP HOLDINGS LIMITED
Page 215 - VIPSHOP HOLDINGS LIMITED
Page 216 - VIPSHOP HOLDINGS LIMITED
Page 217 - VIPSHOP HOLDINGS LIMITED
Subdocument 2 - EX-4.10 - EX-4.10
Page 1 - Exhibit 4.10
Page 2 - Contract for Assignment of State-owned Construction Land Use Right
Page 3 - Contract for Assignment of State-owned Construction Land Use Right
Page 4 - Chapter II Delivery of the Assigned Land and the Payment of Assignment Charge
Page 5 - wholesale and retail purposes (051), accommodation and catering purposes (052) and commercial and fi
Page 6 - one hundred and ninety-three million four hundred and thirty thousand
Page 7 - Chapter III Development, Construction and Utilization of the Assigned Land
Page 8 - facilities for commercial use consolidated with business facilities (B2/B1)
Page 9 - January 16, 2017
Page 10 - N/A
Page 11 - Chapter IV Transfer, Lease and Mortgage of the State-Owned Construction Land Use Right
Page 12 - Chapter V Expiration of Use Term
Page 13 - Chapter VI Force Majeure
Page 14 - Chapter VII Liability for Breach of the Contract
Page 15 - N/A
Page 16 - N/A
Page 17 - Chapter VIII Governing Laws and Dispute Resolution
Page 18 - Chapter IX Supplementary Provisions
Page 19 - N/A
Page 20 - N/A
Page 21 - Technical Rules for Guangzhou Urban and Suburban Planning (Trial)
Page 22 - N/A
Page 23 - Guidance on Design of Government Security Housing in Guangzhou (2013 version)
Page 24 - Guidance on Design of Government Security Housing in Guangzhou (2013 version)
Page 25 - Guidance on Design of Government Security Housing in Guangzhou (2013 version)
Page 26 - Guidance on Design of Government Security Housing in Guangzhou (2013 version)
Page 27 - N/A
Page 28 - N/A
Page 29 - Appendix I Ichnographic Boundary Picture of the Assigned Land
Page 30 - Appendix II Vertical Limits of the Assigned Land
Page 31 - Appendix III Planning Conditions for the Assigned Land Determined by the Administration for Land Use
Subdocument 3 - EX-4.11 - EX-4.11
Page 1 - Exhibit 4.11
Page 2 - Contract for Assignment of State-owned Construction Land Use Right
Page 3 - Contract for Assignment of State-owned Construction Land Use Right
Page 4 - Chapter II Delivery of the Assigned Land and the Payment of Assignment Charge
Page 5 - wholesale and retail purposes (051), accommodation and catering purposes (052) and commercial and fi
Page 6 - one hundred and forty-one million three hundred and thirty thousand
Page 7 - Chapter III Development, Construction and Utilization of the Assigned Land
Page 8 - facilities for commercial use (B2) consolidated with business facilities (B1), see Appendix III
Page 9 - February 20, 2017
Page 10 - N/A
Page 11 - Chapter IV Transfer, Lease and Mortgage of the State-Owned Construction Land Use Right
Page 12 - Chapter V Expiration of Use Term
Page 13 - Chapter VI Force Majeure
Page 14 - Chapter VII Liability for Breach of the Contract
Page 15 - N/A
Page 16 - N/A
Page 17 - Chapter VIII Governing Laws and Dispute Resolution
Page 18 - Chapter IX Supplementary Provisions
Page 19 - N/A
Page 20 - Technical Rules for Guangzhou Urban
Page 21 - (I)
Page 22 - N/A
Page 23 - Guidance on Design of Government Security Housing in Guangzhou (2013 version)
Page 24 - Guidance on Design of Government Security Housing in Guangzhou (2013 version)
Page 25 - Guidance on Design of Government Security Housing in Guangzhou (2013 version)
Page 26 - Guidance on Design of Government Security Housing in Guangzhou (2013 version)
Page 27 - N/A
Page 28 - N/A
Page 29 - Appendix I Ichnographic Boundary Picture of the Assigned Land
Page 30 - Appendix II Vertical Limits of the Assigned Land
Page 31 - Appendix III Planning Conditions for the Assigned Land Determined by the Administration for Land Use
Subdocument 4 - EX-8.1 - EX-8.1
Page 1 - Exhibit 8.1
Subdocument 5 - EX-12.1 - EX-12.1
Page 1 - EXHIBIT 12.1
Subdocument 6 - EX-12.2 - EX-12.2
Page 1 - EXHIBIT 12.2
Subdocument 7 - EX-13.1 - EX-13.1
Page 1 - EXHIBIT 13.1
Subdocument 8 - EX-13.2 - EX-13.2
Page 1 - EXHIBIT 13.2
Subdocument 9 - EX-15.1 - EX-15.1
Page 1 - EXHIBIT 15.1
Subdocument 10 - EX-15.2 - EX-15.2
Page 1 - EXHIBIT 15.2
Subdocument 11 - EX-15.3 - EX-15.3
Page 1 - EXHIBIT 15.3
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