Vipshop announced a new round of $1 billion buyback plan for the second quarter of 2024, with a net revenue of 26.9 billion yuan and a non GAAP net profit of 2.2 billion yuan. In the second quarter of this year, Vipshop invested over $200 million to repurchase the company's stock. Based on confidence in future development, the Board of Directors of Vipshop has approved a new stock repurchase plan, allowing the company to repurchase up to $1 billion of American Depositary Shares or Class A common shares within 24 months after completing the existing stock repurchase plan.