Vipshop (VIPS) Q2 net revenue decreased by 4.3% year-over-year to RMB 24.7 billion, but net profit surged by 189% to RMB 4.3 billion, driven by a one-time investment gain. The company's operating profit for the second quarter fell to RMB 1.5 billion, and it expects full-year revenue to be slightly below 2025 levels. Vipshop stated that it will prioritize profitability, customer retention, and capital returns over aggressive promotions, and announced a $1 billion share repurchase program.