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Vipshop's 2024 Environmental, Social, and Governance (ESG) Report

On July 29, 2025, Vipshop Holdings Limited (NYSE: VIPS), a leading online discount retailer in China, released its 2024 ESG Report. This report highlights the company's significant strides in sustainability, employee welfare, and community initiatives, reinforcing its commitment to being a respected entity in the marketplace.

Emphasizing Sustainability: A Low-Carbon Strategy

2024 marked a remarkable year for Vipshop regarding its environmental initiatives. The company adopted a structured decarbonization roadmap, resulting in a 43% reduction in greenhouse gas emissions and a 40% decrease in emissions intensity compared to the previous year. Some of the key achievements include:

• - Renewable Energy Deployment: The establishment of solar photovoltaic systems across various logistic sites and the conversion of its headquarters in Guangzhou to operate entirely on renewable energy.
• - Promoting Green Packaging: Vipshop made strides in reducing material waste, shipping over 1.34 million parcels in re-used cartons, and circulating reusable delivery boxes more than 800,000 times.
• - Sustainable Urban Logistics: The percentage of new energy vehicles used in its logistics operations increased to 35%, a significant rise of 15% year-on-year.

These efforts align with broader trends in China's green transition, emphasizing a responsible approach to business operations.

Meeting Consumer Demand with Affordability and Quality

To align with the rapidly changing preferences of consumers, Vipshop introduced over 1,500 new brands and partnered with more than 200 curated brands to create products tailored for their customer base. Additionally, the platform rolled out promotional channels like "Time-limit Offers" and "Daily Low Prices" to enhance customer experience and provide competitively priced merchandise. Furthermore, the Super VIP (SVIP) program saw an expansion in benefits available to its members, which now includes more than 100 lifestyle options and enhanced product offerings.

Vipshop's commitment to serving diverse customer needs is evident in its adaptations for elderly shoppers, including simplified communication processes and after-sales service.

Fostering Inclusion and Growth in the Workplace

Vipshop remains dedicated to cultivating an inclusive and diverse workplace environment. The company promotes equity through a variety of professional development programs and performance incentives, earning recognition as "2024 China's Most Popular Employer of the Year" by Forbes China. Noteworthy efforts include:

• - Education and Training: Providing subsidies for ongoing education and training to empower employees in their career progression.
• - Accessibility Initiatives: Implementing modifications for employees with disabilities, including wheelchair access and other supportive measures to ensure an accommodating work environment.

These initiatives demonstrate Vipshop's commitment to not only corporate growth but also to employee well-being and inclusivity.

Community Engagement and Philanthropy

As of the conclusion of 2024, Vipshop invested RMB 768 million (approx. USD 106 million) into various public welfare programs. Initiatives such as the V-Love Mothers and Langtou Rural Revitalization Project have made a tangible impact, assisting over 277,000 single-parent families with legal aid and mental health services. To further inspire community involvement, Vipshop encourages staff participation in volunteer activities by providing paid public welfare leave, facilitating a culture of giving back to the community.

In conclusion, Vipshop's 2024 ESG Report showcases its unwavering dedication to sustainable practices, social responsibility, and community support. As the company strives for continual improvement in these areas, it sets a benchmark for corporate responsibility in the retail sector.