Baozun (BZUN) Research & Development (2014 - 2026)
Baozun (BZUN) posted Research & Development of -$173.5 million for Q2 2026, down 33.97% on a QoQ basis from -$129.5 million in Q1 2026, and down 32.52% year-over-year from -$257.1 million in Q2 2025.
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Analysis
Baozun (BZUN) Research & Development (2014 - 2026) Analysis & Trends
Baozun has reported Research & Development for 13 years, with the latest figure at -$173.5 million in Q2 2026.
- On a quarterly basis, Research & Development fell 32.52% year-over-year to -$173.5 million in Q2 2026; TTM through Jun 2026 was -$602.4 million, a 21.01% decrease from a year earlier, with the FY2025 full-year figure at -$550.1 million, down 18.78% from the prior year.
- Research & Development was -$173.5 million for Q2 2026 at Baozun, down from -$129.5 million in the prior quarter.
- The five-year high for Research & Development was -$84.7 million in Q3 2022, with the low at -$174.8 million in Q4 2025.
- Average Research & Development over 5 years is -$117.0 million, with a median of -$114.1 million recorded in 2022.
- The largest YoY upside for Research & Development was 18.72% in 2022 against a maximum downside of 35.25% in 2022.
- Over 5 years, Research & Development stood at -$114.2 million in 2022, then retreated by 10.06% to -$125.7 million in 2023, then fell by 13.51% to -$142.7 million in 2024, then declined by 22.52% to -$174.8 million in 2025, then climbed by 0.75% to -$173.5 million in 2026.
- The last three Research & Development figures came in at -$173.5 million (Q2 2026), -$129.5 million (Q1 2026), and -$174.8 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Shopify | 166.44 Bn | 161.49 Bn | 1.71 Bn | 498.00 Mn |
| 2 | Global-E Online | 6.43 Bn | 6.07 Bn | 131.87 Mn | 34.98 Mn |
| 3 | Vtex | 629.70 Mn | 443.81 Mn | 51.71 Mn | -17.93 Mn |
| 4 | Rezolve Ai | 369.68 Mn | 258.57 Mn | - | - |
| 5 | Commerce.com | 275.92 Mn | 119.60 Mn | 63.53 Mn | 27.51 Mn |
| 6 | Baozun | 152.97 Mn | -66.33 Mn | 302.56 Mn | -173.50 Mn |
| 7 | BeLive Holdings | 24.01 Mn | 17.39 Mn | - | - |
| 8 | Paid | 18.65 Mn | 17.57 Mn | 1.22 Mn | - |
| 9 | Caro Holdings | 11.71 Mn | 11.71 Mn | - | 99,890.00 |
| 10 | Amaze Holdings | 1.11 Mn | 1.11 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -173.50 Mn |
| Mar 31, 2026 | -129.51 Mn |
| Dec 31, 2025 | -174.81 Mn |
| Sep 30, 2025 | -124.54 Mn |
| Jun 30, 2025 | -130.92 Mn |
| Mar 31, 2025 | -110.10 Mn |
| Dec 31, 2024 | -142.67 Mn |
| Sep 30, 2024 | -114.08 Mn |
| Jun 30, 2024 | -116.23 Mn |
| Mar 31, 2024 | -96.12 Mn |
| Dec 31, 2023 | -125.69 Mn |
| Sep 30, 2023 | -87.38 Mn |
| Jun 30, 2023 | -97.42 Mn |
| Mar 31, 2023 | -86.30 Mn |
| Dec 31, 2022 | -114.20 Mn |
| Sep 30, 2022 | -84.69 Mn |
| Jun 30, 2022 | -99.78 Mn |
| Mar 31, 2022 | -97.16 Mn |
| Dec 31, 2021 | -140.51 Mn |
| Sep 30, 2021 | -83.12 Mn |
API Access
Baozun Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=BZUN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "BZUN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=BZUN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();