[Baozun significantly raises its profit target for 2028 from 550 million yuan to 700 million yuan] On August 27, Baozun released its second quarter financial report for 2026 on August 27 and announced that it would raise its non-GAAP operating profit target for 2028 from the previous 550 million yuan to 700 million yuan, an increase of more than 27%. This adjustment releases a clear signal that the results of strategic transformation continue to show and profitability is further improved. This quarter, Baozun Group's total net income increased by 7% year-on-year to 2.7 billion yuan, and operating profit under non-GAAP increased significantly from 6 million yuan in the same period last year to 74 million yuan. Among them, the non-GAAP operating profit of the e-commerce business reached 107 million yuan, a new high in the second quarter since 2022; the brand management business revenue increased by 22% year-on-year, and the profit foundation of the two major business segments was further consolidated. Baozun said that the strategic transformation in the past few years has verified the resilience, scalability and profit potential of the business model. As the implementation of AI empowerment accelerates and the collaboration between the two major business segments continues to deepen, operational efficiency and synergy value are expected to be further released, providing solid support for higher profit targets in 2028.