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1、2020 VIPSHOPCORPORATE SOCIAL RESPONSIBILITY REPORTCORPORATE SOCIAL RESPONSIBILITY REPORT 202001ContentsSelf-Improvement and Corporate GovernanceWhat Vipshop Offers Message from VipshopAbout Vipshop2020 at a GlanceSocial Responsibility Strategy and ManagementtVipshop UN SDGs 3581114 Achieving Excelle

2、nce:by Upholding Integrity and ComplianceContinuously Improving Corporate GovernanceRunning Our Business Steadily and CompliantlyContinuously Creating Economic Value16171925Reaching Further:by Empowering EmployeesCreating an Equal and Diverse WorkplaceEmpowering Employees in Career DevelopmentBringi

3、ng Warmth to Every Vipshop Employee2627323639404648 Discount Sales:Leading a Quality Life Full-matrix Upgrade of Brand Discount SalesGuaranteed Product Quality across CategoriesConsiderate Whole-Process Services for CustomersCooperation:Pooling Resources for Win-win Outcomes Building a Sustainable S

4、upply ChainEmpowering Brand Partners5051541538VIPSHOP/0201Corporate Citizenship Charity:Giving Back to Society Visible E-commerce Charity OutcomesContributing to Poverty AlleviationEmpowering Women in Diverse Ways Charity by All5758596263Environmental Responsibility:Protecting the EarthGreen E-comme

5、rceGreen LogisticsGreen Operations65666769GRI Standards IndexAbout This Report 717356CORPORATE SOCIAL RESPONSIBILITY REPORT 2020Message from VipshopThe COVID-19 outbreak since the beginning of 2020 has profoundly transformed peoples lifestyle and consumption patterns,and driven them to embrace techn

6、ologies and online shopping like never before.The growing awareness of sustainable consumption also drives consumers to choose healthier,environmentally-friendly and higher-quality products.It is an era with the ongoing drastic change in the consumption ecosystem,and the budding sustainable consumpt

7、ion.Committed to“improving the quality of life and enhancing the experience of happiness”,Vipshop promotes responsible consumption and works with consumers,partners and the general public to create an ecosystem of sustainable consumption in the era full of opportunities and challenges.Vipshop closel

8、y followed the development of the epidemic.We stood with the epidemic control authorities,brand partners and employees,responded with diverse kinds of support shortly after the outbreak and helped contain the spread of the virus.Shortly after the outbreak in early 2020,we immediately provided financ

9、ial and materials support to Hubei province,especially Wuhan and other hard-hit areas.Meanwhile,we leveraged our platform,sourced masks,disinfectants and other personal protective equipment worldwide and put them on shelves to help consumers protect themselves from infection.We also did our best to

10、guarantee the supply of essential provisions for consumers.We also launched the“Warm Spring Project”and“Climbing Project”,among others,to help our brand partners get through the difficult times and meanwhile offering big discounts as high as 70%off or more on high-quality branded products to our onl

11、ine shoppers.Combating COVID-19 All TogetherCentering on the core concept of Brand Discount Sales,we deliver high-quality products to customers,cooperates with good brand partners,and build an ecosystem of sustainable consumption by giving full play to the advantages of the platform.At the consumer

12、end,we have gained insight into the changes in consumer demand in the post-COVID-19 era and tried to explore more consumption scenarios.We have expanded product channels,deployed the offline sales network and built a full-matrix all-channel discount sale retail layout.In addition,the quality control

13、 system covering the full life circle of the products is established to enable an efficient,convenient,comfortable and satisfactory customer services.At the brand end,we keep empowering our strategic partners by helping them precisely navigate the market with optimal cost and efficiency,and better s

14、atisfy customer demand for sustainable consumption.Empowering the New-Generation Consumers with Discount Sales VIPSHOP/0403High-quality employees underpin the sustainable development and stronger competitiveness of an enterprise.They are fundamental to the empowerment of consumers,partners,communiti

15、es and the environment.We offer employees a comprehensive salary and benefits package and growth system,and provide fair and inspiring career path for them,in an effort to improve the professional competence of employees and enhance their sense of gain,belonging and well-being.We make common progres

16、s,and share responsibilities and achievements with the Company.Facing a new era,new opportunities and new challenges,Vipshop will,with the attention and support of every one of you,fulfill our corporate responsibility,make solid progress and share the fruits of development.Creating an Empowering,Liv

17、ely WorkplaceVipshop pursues green development of e-commerce,covering office work,warehousing,packaging and transportation,and keeps reducing carbon footprints in operations.In 2020,we made remarkable achievements in green logistics.By increasing photovoltaic power generation in logistics parks and

18、by adopting innovative,environmentally-friendly materials and better package designs,we optimized the energy consumption management during operations.Vipshop topped the“Packaging”category of the Dow Jones Sustainability World Indices(DJSI)for the second consecutive year.Empowering Harmonious Coexist

19、ence Through Environmental Protection We incorporate diversity,equality and sustainable empowerment into charity programs.We have been working on women empowerment,targeted poverty alleviation,Internet-based charity innovation and youth development.A series of flagship charity programs,such as VIP M

20、others Hotline,VIP Love Charity Project,etc.,have been launched.We continue to upgrade the operational model of our charity programs to generate more social benefits.In 2020,China realized the complete eradication of extreme poverty.In response to the call of the Party and the government,we gave ful

21、l play to our e-commerce platform,and established a long-term innovation platform for poverty alleviation in poor areas through such programs as VIP Love Aid for Agriculture and VIP Love Workshop,making our due contribution to Chinas poverty alleviation.As of the end of 2020,we had invested over RMB

22、 265 million in charity.Empowering Community Wellbeing by Innovative CharityCORPORATE SOCIAL RESPONSIBILITY REPORT 202005About Vipshop Company Profile Vision and MissionHeadquartered in Guangzhou,China,Vipshop was founded in 2008 and listed on the New York Stock Exchange on March 23,2012.Pioneering

23、the flash sales model of“Selective Brands,Deep Discount,Limited Offering”in China,Vipshop provides a wide range of products from apparels,shoes&bags,cosmetics,maternal and child products to home goods and more.The Company is currently the worlds largest online discount retailer,and the Vipshop flash

24、 sales model has now become one of the three major business models in Chinas e-commerce space.Vipshop starts and expands its business in the context of new global business civilization.Guided by the vision to“establish our position as a world-class e-commerce platform”,and the mission of“improving t

25、he quality of life and enhancing the experience of happiness”,we work closely with customers,partners,employees,and the society,to constantly create value and achieve sustainable development not only for ourselves but also for our stakeholders.Customer FirstCollaboration&ResponsibilityEfficiency&Eff

26、ectivenessSimplicity&RightfulnessInnovation&ImprovementValuesVIPSHOP/0605Business PhilosophyCustomers are Vipshops top priority,we put customers interest first,listen to and deeply understand the user demand,and work constantly to deliver the best experience and services that are beyond the expectat

27、ion of our customers and generate more value for users.Vipshop is grateful to society support and conscious of our social responsibility,do our best to give back to society by helping those in need and build a good corporate image.Employees are Vipshops greatest assets.Vipshop hopes to fully inspire

28、 their potentials and let them benefit from Vipshops development;meanwhile,to be kind to our employees,and care about their physical and mental health.Vipshop respects the partners and sincerely collaborate with them to establish a mutual-benefit industrial ecosystem.EmployeesCustomersPartnersCommun

29、ityCORPORATE SOCIAL RESPONSIBILITY REPORT 2020General Managers Office Financial CenterProduct&Technology CenterLegal DepartmentCompliance DepartmentInternet Finance DepartmentCustomer Service CenterInternal Audit DepartmentPazhou Building Construction CenterNational Logistics CenterHuman Resources D

30、epartmentBusiness CenterVipmaxx Offline Store DepartmentVipshop Offline Store DepartmentLogistics Development CompanyNew Retail DepartmentAdministration DepartmentOperation CenterAsset Protection DepartmentAsset Purchase DepartmentBoard of DirectorsExecutivesCompensation CommitteeAudit Committee Nom

31、ination and Corporate Governance CommitteeManagement StructureVIPSHOP/0807Total Net Revenue:RMB 101.858 billionAnti-COVID-19 donation:more than RMB 37 millionInvestment in Targeted Poverty Alleviation:more than RMB 15 millionFull-time Employees:7,567Total Tax Payment:RMB 3.273 billionTotal Assets:RM

32、B 58.941 billionPresented byAward/HonorGuangzhou Womens Innovation and Entrepreneurship Base Guangzhou Womens Federation Model Organization with Outstanding Contribution to COVID-19 Control and PreventionWuhan Charity Federation Awards for Model Organization with Outstanding Contribution to COVID-19

33、 Control and PreventionHubei Charity Federation Five-star Philanthropic Unit on the Charity List of Guangzhou in 2020 Guangzhou Charity Association Excellent Company of the Year on Internet Industry Corporate Social Responsibility List China Corporate Social Responsibility Research Center,Southern W

34、eekly 2020 China Corporate Citizen 520 Responsible BrandsOrganizing committee of“2020 China Corporate Citizen 520 Responsible Brands SummitTop 100 Chinese Internet Companies 2020Internet Society of China China Top 100 Private Enterprises in Service Sector 2020All-China Federation of Industry and Com

35、merce China Top 500 Private Enterprises 2020All-China Federation of Industry and Commerce Guangzhou Civilized UnitGuangzhou Municipal Committee of the Communist Party of China,Guangzhou Municipal Peoples Government Private Enterprises Made Major Contributions to the Fight against COVID-19 in Guangdo

36、ng ProvinceGuangdong Federation of Industry&CommerceThe United Front Work Department of CPC Guangzhou Committee,Guangzhou Municipal Bureau of Industry and Information Technology,Guangzhou Federation of Industry and CommercePrivate Enterprises Made Major Contributions to the Fight against COVID-19 in

37、 Guangzhou2020 at a GlanceKey performance in 2020Awards&Recognization in 2020CORPORATE SOCIAL RESPONSIBILITY REPORT 202009The Chronicle of 2020 Vipshop officially released the 2019 Vipshop Corporate Social Responsibility Report,which fully disclosed Vipshops responsibility fulfillment practices and

38、key performance in the fields of economy,society,environment and governance,and delivered a fruitful responsibility answer to the whole society.Releasing the 6th Corporate Social Responsiblity ReportJanuary&FebruaryJulyFighting against COVID-19Vipshop donated funds and materials for the fight agains

39、t COVID-19,with a total donation amount more than RMB 37 million.333,000 meals were donated and delivered in 45 hospitals for medical staff working on the front-line of Hubeis fight against the epidemic;100 respirators and 55 oxygenerators to 7 hospitals in 5 cities,including Wuhan and Huanggang,in

40、Hubei Province for the treatment of COVID-19 patients.To help brand partners through the difficult times,Vipshop announced five measures,including quality and free traffic,RMB 300 million of cash sales subsidies,a green settlement channel,subsidized-interest-rate supply chain finance,and whole-chain

41、 business support.For brand partners in Hubei,Vipshop exempted or reduced some commission and service fees for the Q1 of 2020.VIPSHOP/1009Vipshop opened its first city outlet in Hefei,Anhui Province.In the future,we will also build more similar outlets close to city centers across China,providing co

42、nsumers with easy access to quality products at low prices.Opening of our first city outletVipshops new headquarters building at the heart of Pazhou CBD in Guangzhou City was officially put into use.It houses the global strategy teams and the operations of the core business,and marks a new stage of

43、development for Pazhou area of the Guangzhou demonstration zone for artificial intelligence and digital economy.Opening of the new headquarters buildingVipshop officially upgraded the brand Slogan,which continued the core proposition of Vipshop and reflected Vipshops determination to build a more co

44、st-effective platform.Upgrading the new brand sloganSeptember 7October9December24 CORPORATE SOCIAL RESPONSIBILITY REPORT 202011Social Responsibility Strategy and ManagementSocial Responsibility StrategySocial Responsibility Management StuctureVipshop reflects CSR performance in its strategic objecti

45、ves,and firmly believes that fulfilling social responsibility and being responsible to stakeholders are key to sustainable business growth.We have established a complete social responsibility management system,with focus on high-quality e-commerce,staff well-being,environmental conservation and publ

46、ic welfare.Vipshop has established a three-tier social responsibility management framework consisting of the CSR Committee,the CSR team,and CSR liaisons.The social responsibility management tasks are broken down and implemented top down to meet the Companys social responsibility objectives.Comprised

47、 of top management and led by CEO,the Vipshop CSR Committee is responsible for formulating the Companys CSR strategy.It reviews the Companys CSR data,provides suggestions on how sustainability-related issues can be incorporated into business development,and ultimately supervises the Companys CSR per

48、formance.A CSR team comprised of responsible personnel is established to collect quarterly and yearly CSR data,launch specific CSR programs,and compile the annual CSR report.Within each department,we have CSR liaisons to collect CSR relevant materials.CSRCommitteeCSRTeamCSRliaisonsVIPSHOP/1211Materi

49、ality AnalysisVipshop considers its stakeholders expectation and requests as important factors in daily operation towards sustainable development.In 2020,Vipshop conducted detailed study on national policies,annual hot social topics and the industrys development background,Vipshop referred to the to

50、pics set in the Dow Jones Sustainability Indices(DJSI)questionnaire,and carried out the CSR materiality analysis.We assessed the material topics from two dimensions(“Importance to Vipshop”and“Importance to Stakeholders”),identified topics that are important to both Vipshop and the stakeholders,and d

51、etermined key topics to be disclosed in the report and priorities in future CSR work.Identification of Material TopicsSurvey and AssessmentPrioritization and ConfirmationBased on the communication with stakeholders over the past year,we identified 15 material topics related to Vipshop by benchmarkin

52、g global standards such as the GRI Standards and DJSI and the corporate operation status.We conducted an online stakeholders survey on the material issues and invited various groups of stakeholders,including the government,consumers,partners,shareholders and investors,employees,environment,and commu

53、nity representatives,to prioritize the issues based on each issues importance to them.After approval by our CSR Committee and experts,we constructed a matrix with the results from the stakeholders surveys.The matrix revealed the material issues to be disclosed in this report so as to take actions ac

54、cordingly.01.Compliant operation02.Anti-corruption and anti-bribery03.Anti-unfair competition04.Guarantee of goods quality05.Guarantee of service quality06.Information and cyber security governance07.Supplier risk management08.Response to climate change09.Eco-efficiency10.Sustainable packaging010203

55、04050607080910111213141511.Employee compensation and benefits12.Human capital development13.Occupational health and safety14.Targeted poverty alleviation and rural development15.Corporate citizenship and philanthropyImportance to stakeholdersImportance to VipshopCORPORATE SOCIAL RESPONSIBILITY REPOR

56、T 202013Communication with StakeholdersStakeholdersCommunicationsCommunitiesPartnersEmployeesShareholders&InvestorsCustomersGovernmentsCompliant operationAnti-corruption and anti-briberyConcernsAnti-unfair competitionSupplier risk managementEmployee compensation and benefitsHuman capital development

57、Occupational health and safetyIncreasing investment returnPreventing business risksImproving corporate governanceGuarantee of goods qualityGuarantee of service qualityInformation and cyber security governanceResponse to climate changeEco-efficiencySustainable packagingEnvironmentAs the worlds larges

58、t discount sales platform,Vipshop relates itself with extensive stakeholders ranging from government authorities to shareholders&investors,employees,partners,environment,and communities.Vioshop has always committed itself to taking the impact of its operations on stakeholders into consideration and

59、building a diversified communication mechanism.Through this mechanism,Vioshop could proactively understand and address stakeholders diverse needs,and communicate with stakeholders.Vipshop releases the CSR report every year,which openly and transparently disclose the companys financial and non-financ

60、ial performance in the previous year in economic,social and environmental fields,to fully disclose the Companys operation and development status to ensure the right of stakeholders to know the companys information,and to further protect the interests of investors.Improving corporate governancePaying

61、 tax according to lawCreating job opportunities Promoting local economic developmentSupplier conferencesConferences with brand partners Receiving the visits of brand partners Communication with employeesProviding staff trainingOrganizing all kinds of recreational and sports activities for employeesD

62、isclosing business information regularlyConvening shareholders meetings and investors conference callsCreating the best consumer experienceSourcing good products worldwideAccurately meeting the needs of customersDiversifying online and offline sales channelsGreen warehousingGreen packagingGreen offi

63、cePassing on the concept of environmental protectionPracticing e-commerce-based philanthropy Engaging in targeted poverty alleviationCarrying out staff volunteer activitiesTargeted poverty alleviation and rural developmentCorporate citizenship and philanthropyVIPSHOP/1413No PovertyHelp employees in

64、need through V-Love Fund.Launch targeted poverty alleviation programs.Good Health and Well-BeingImprove the EHS management system and provide health exams and healthcare service to employees.Zero HungerHelp the impoverished to gain a sustainable source of income through VIP Love Workshop and VIP Lov

65、e Aid for Agriculture.Quality EducationProvide ample training courses to employees,provide educational aid to students in need.Gender EqualityEliminate gender discrimination in recruitment and employment.Launch the public welfare program VIP Mothers.Sustainable Cities and CommunitiesHelp employees i

66、n need and employees with special needs,launch the public welfare program VIP Mothers,provide community services and disaster relief.Climate ActionBuild photovoltaic power stations in logistics hubs,use environmentally friendly vehicles and electric vehicles for logistics.Responsible Consumption and

67、 ProductionPromote green packaging and green logistics.Life Below WaterReduce plastic packaging and cut plastic pollution in water systems from the source.Life on LandParticipate in the“Green Citizens in Action”program.Clean Water and SanitationDecent Work and Economic GrowthAffordable and Clean Ene

68、rgyIndustry,Innovation and InfrastructureCreate a safe and environmentally friendly workplace for employees,protect employees health and safety during the COVID-19 pandemic.Guarantee remuneration and benefit for employees.Launch targeted poverty alleviation programs.Promote energy-saving measures an

69、d the use of clean energy,build photovoltaic power stations in logistics hubs.Optimize the logistics layout,develop logistics technologies,purchase energy-saving office equipment.Reduced InequalitiesErase inequalities and discrimination of any kind.Launch targeted poverty alleviation programs.Peace,

70、Justice and Strong InstitutionsCommunicate with employees through the Labor Union and other channels and protect the human rights.Partnerships for the GoalsTransparently communicate with stakeholders and issue annual CSR report.Vipshop UN SDGsCORPORATE SOCIAL RESPONSIBILITY REPORT 2020Keep improving

71、 corporate governance and run our business steadily and compliantly to create long-term economic value for shareholders and investors.Self-Improvement and Corporate GovernanceResponsible for shareholdersCreate a diverse and inclusive working environment,assist employees in their career development a

72、nd care about employees physical and mental wellbeing to help them balance work and life.Responsible for employeesCORPORATE SOCIAL RESPONSIBILITY REPORT 2020CORPORATE SOCIAL RESPONSIBILITY REPORT 2020/16152 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPV

73、ipshop actively responds to expectations and demands of stakeholders,protects shareholders interests with a well-established corporate governance system,and create economic value for investors.In the meantime,Vipshop continuously improves corporate governance and consolidates incentive and restraint

74、 mechanisms for company operators,communicates transparently with investors and runs business in an honest and compliant manner,in order to prevent and defuse risks,protects intellectual property rights,so as to achieve win-win outcomes together with shareholders and make headway toward sustainabili

75、ty.Achieving Excellenceby Upholding Integrity and ComplianceCORPORATE SOCIAL RESPONSIBILITY REPORT 2020As a Chinese market-based company listed on the New York Stock Exchange,Vipshop strictly complies with the Company Law of the Peoples Republic of China and NYSEs requirements.We keep improving our

76、modern enterprise system and corporate governance rules,protect our independence as a listed company,develop better channels and approaches for investors to participate in corporate governance,and protect the interests of investors.The Board of DirectorsVipshop continuously gives full play to the ro

77、le of the Board of Directors in strategic leadership,decision-making and risk control,and constantly improve the decision execution supervision mechanism featuring matched powers and responsibilities,coordinated operation,and effective check and balance.By leveraging incentive and restraint mechanis

78、ms,we ensure that the critical minority,including Board members,duly fulfill their responsibilities.The Board is responsible to shareholders and investors,makes decisions in favor of the Companys market competitiveness under the corporate governance framework.Vipshop continues to improve the efficie

79、ncy and performance of corporate governance by linking the CEOs variable pay with the performance on predetermined financial return indicators and other financial indicators(return on assets,return on equity,return on invested capital,total return to shareholders,etc.).Board of DirectorsAudit Commit

80、teeCompensation CommitteeNominating and Corporate Governance CommitteeMembers of the Board of directorsAs of December 31,2020,there were 10 directors on the Vipshop Board,including one female.The directors are:Mr.Eric Ya Shen,Chairman and CEO;Mr.Arthur Xiaobo Hong,Vice Chairman and COO;Mr.Martin Chi

81、 Ping Lau and Jacky Yu Xu,Directors;Mr.Donghao Yang,Non-executive Director;Mr.Chun Liu,Mr.Frank Lin,Mr.Xing Liu,Mr.Nanyan Zheng,Ms.Kathleen Chien,Independent Directors.Nomination of Board membersThe Nominating and Corporate Governance Committee reviews the current composition of the board with regar

82、d to characteristics such as independence,knowledge,skills,experience and diversity.Under the Board are three specialized committees:the Audit Committee,Compensation Committee,and Nominating and Corporate Governance Committee.We have adopted a charter for each of the three committees.The Board struc

83、tureContinuously Improving Corporate Governance/18172 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPInvestor relationsThe Investor Relations(IR)Department is responsible for communication and liaison with investors,replying to investor inquiries,receivin

84、g visiting investors,and disclosing information about the Companys operations and development in a timely,comprehensive and transparent manner through multiple channels,such as the Companys annual reports,financial reports,official website,roadshows,investors conference calls,and special information

85、 disclosure.The Companys financial reports can be downloaded on the SEC website and our IR website.CORPORATE SOCIAL RESPONSIBILITY REPORT 2020Running Our Business Steadily and CompliantlyInternal controlVipshop sticks to stable and compliant operations,continuously improves the system in the field o

86、f compliance and optimize management measures,and consolidates the foundation for compliant operations by improving internal control,risk management,anti-corruption,intellectual property rights(IPR)protection,and platform governance,etc.The Company continuously enhances its capacity in safe and stab

87、le operations,and promotes sustainable corporate development with effective internal control and risk management.Abiding by Section 404 of Sarbanes-Oxley Act of 2002,also known as the Public Company Accounting Reform and Investor Protection Act,Vipshop establishes a systematic and standard internal

88、control system.This system is risk-oriented,deeply integrated with Vipshop business,and explicitly defines the responsibilities of each business unit.Bettering the institutional design and effectiveness of internal control.The Company embeds risk management and control into its business policies,pro

89、cesses,and systems by bench-marking,individual responsibilities and solidification of IT support,to ensure the consistency and effectiveness of the system.Controlling legal instruments.The Company controls legal instruments such as documents,certificates,and signed agreements,through OA(Office Autom

90、ation).Establishing the internal risk whistle-blowing system.The Company sets up the whistle-blowing email account for employees to report potential risks.Relevant responsible departments(such as Asset Protection Department and Internal Audit Department)verify the clues and take follow-up measures.P

91、roviding institutional guarantee to protect the control rights.The Company continues to improve its articles of association and maintains control over its subsidiaries and affiliates by managing its power bodies including the shareholder meetings,and key personnel including Board members./20192 What

92、 Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPRisk management Improving the risk management systemBased on Vipshop Risk Management Policy,Vipshop establishes and implements effective risk management measures to anticipate and identify risks,thus preventing t

93、he Company from running into crisis.Vipshop establishes the principle of risk level assessment and risk Building a risk-conscious cultureVipshop is actively building a risk-conscious culture across the Company and raise employees awareness of risk control.Policies like EHS-013 Vipshop(Group)Safety I

94、ncident Reporting and Investigation Procedures V2.0 and Vipshop Management Measures for Information Security Incidents V3.0 were made public to every employee by email.In 2020,the Company offered online training sessions on management red lines to employees,to raise their awareness of the red lines

95、and punitive measures.Vipshop also held risk management meetings for Finance Centers managers and above,to share best practices in managing financial and compliance risks,effectively raising the risk awareness of financial personnel.Vipshop defines and divides risk management responsibilities among

96、its internal departments.Departments directly involved in risk management include the General Managers Office,Asset Protection Department,Information Security Sector,Legal Department and Finance Center,etc.Relevant managers in the General Managers Office are appointed to be responsible for risk mana

97、gement in operations and the risk management performance in auditing,and report directly to the Chairman and CEO of the Company.In 2020,we conducted a questionnaire survey among employees with executives above the directors level,quantified and sorted the risk points they identified and visualized r

98、elevant data,to produce the annual risk assessment report.type classification,and specifies road-maps and plans to provide guidance of risk management in all business lines and departments.Vipshop actively conducts assessments on major risks and special assessments on risk of major projects internal

99、ly,implements measures to meet requirements of risk management on every level,and establishes regular risk review plan.In addition,the Company has established a firewall to prevent business risks from being magnified internally or even affecting the overall situation,and replaces legal representativ

100、es of high-risk subsidiaries with their business leaders to reduce or isolate risks.CORPORATE SOCIAL RESPONSIBILITY REPORT 2020Honest and compliant operationsHonest and compliant operations are the prerequisite and fundamental guarantee for a companys stable development.As Chinas largest online disc

101、ount sale platform,Vipshop always places honest and compliant operations at the heart of its business.The Company has developed a compliance management system,formulated and improved compliance policies and rules,and carried out compliance training for all employees,thus eliminating unfair competiti

102、on and monopoly in any form and meeting compliance requirements.The Internal Audit Department conducts regular independent internal audit on each department,make independent and objective supervision and evaluation in terms of the appropriateness,compliance and effectiveness of operating activities

103、and internal control,and provides suggestions which are helpful in strengthening the effect of corporate governance and risk management and control process.The Company strictly abides by laws and regulations relating to marketing,such as the Advertising Law of the Peoples Republic of China.When laun

104、ching marketing activities(e.g.,advertisement,promotion,and sponsorship),the Company abides by local regulations and voluntary codes,and refrains from any marketing practices that involve exaggeration or misleading.Vipshop maintains a Vipshop Law Classroom column on the home page of its OA system,wh

105、ere it introduces such laws and regulations as the Civil Code of the Peoples Republic of China,and Measures for the Regulation of Online Trading(Draft for Comments),to raise the compliance awareness of all employees.Vipshop has issued policies such as Policy on Risk Management,Guidelines on Business

106、 Operation and Code of Ethics,and Guidelines on Corporate Governance,interpretation of regulations on compliant market competition,case studies of unfair competition and monopoly,measures to prevent unfair competition and monopoly,as well as relevant issues worthy of attention in daily work.On top o

107、f that,in 2020,the Company amended the Sham Transaction Doctrine,formulated rules about compliant market competition,and further improved the institutional system of honest and compliant operations.Compliance awareness across the CompanyCompliance policiesThe compliance management system/22212 What

108、Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPVipshop incorporates anti-corruption into the corporate culture,takes zero-tolerance stance against corruption and severely punish acts of corruption.The Company has also formulated sound internal policies,opened

109、up whistle-blowing channels,and organized anti-corruption educational and training activities to create a clean and honest workplace.Vipshop has put in place and follows a series of anti-corruption policies,including Vipshop Management Red Lines,Vipshop Regulations on Employee Honesty and Integrity,

110、Vipshop System on Gifts and Bestowal,Vipshop Guidelines on Business Operation and Code of Ethics,Vipshop Agreement on Anti-Commercial Bribery,and Vipshop Agreement on Anti-Commercial Bribery(Employees Version).In 2020,the Company amended the anti-commercial bribery clauses and incorporated requireme

111、nts,such as preventing the offer and acceptance of bribes and maintaining honesty and integrity,into the compulsory corporate culture course Vipshop Management Red Lines.Vipshop has opened up anti-corruption whistle-blowing email accounts,including one managed by the Internal Audit Department,one ca

112、n be checked merely by the Chairman and Vice Chairman of the Board,and another one managed by the Asset Protection Department.Anti-corruptionAnti-corruption trainingThe anti-corruption training has covered 100%of employeesVipshop Management Red Lines to all employees and contains seven red lines,inc

113、luding“soliciting or accepting unjustified interests”and“taking advantage of ones position or the Companys resources to benefit himself/herself or particular affiliates”.Any employee who is found to have crossed any of the red lines,regardless of their rank and title,will be immediately dismissed an

114、d relevant liabilities will be pursued strictly.Vipshop Management Red LinesCase：中纪委反腐记录片唯品会管理红线反 腐 败 斗 争 将 一 刻 不 停CORPORATE SOCIAL RESPONSIBILITY REPORT 2020Intellectual property protectionVipshop always attaches great importance to the IPR protection,and actively applies for patents,trademarks and

115、 copyrights.The Company takes zero-tolerance stance against counterfeit brand licensing and sales of counterfeit goods,and has established a comprehensive ex-ante mechanism for IPR ownership of goods sold on its platform as well as an infringement complaint and investigation mechanism,so as to maxim

116、ize the protection of legitimate rights and interests of brand partners and consumers.Accumulated parent rights granted73105121201820192020Accumulated trademark rights granted 140119032017201820192020Accumulated copyrights granted 201820192020149169182/24232 What Vipshop Offers 3 Corporate Citizensh

117、ipSelf-Improvement and Corporate Governance1VIPSHOPPlatform governanceRegulating the information security risk reporting procedures.Vipshop has developed regulations and procedures such as the Information Security Manual for Employees and Management Measures for Information Security Incidents,defini

118、ng a clear process for employees to report suspicious matters to the Information Security Department.Raising employees awareness of information security.Vipshop has formulated the Information Security Manual for Employees,which clearly sets out red lines of information security,management rules and

119、requirements.The Company trains and tests new recruits and in-service staff on information security.Certifying the information security management system.In 2020,Vipshop hired independent third-party certification organizations to review and certify its information security management system of onli

120、ne platform,and obtained the ISO 27001 certification.The review covered operation and maintenance of the Companys business systems,computer management,personal information security and data security.Formulating response procedures for information security incidents.Vipshop conducts emergency tests q

121、uarterly or semi-annually in light of the current business status.Response duties and procedures concerning information security incidents are clearly defined,and procedures of classifying and categorizing,reporting,responding to,handling and reviewing information security incidents,as well as impro

122、vement mechanisms are formulated.Emergency response procedures and plans are also put in place,including contingency plans for website hacking,DDOS attacks and technical issues,as well as red teaming plans.Taking user privacy as an important content of information security management.Vipshop has int

123、roduced the Personal Information Security Management Specification.The Company divides information into user privacy information,corporate financial information,business information and Vipshop regards platform governance as crucial for its sustainable development and acts proactively to enhance pla

124、tform governance.The Company has incorporated information and cyber security into all staff s performance evaluation of Information Security Department to further control risks and close security loopholes on the platform.The Company ensures all information security incidents are swiftly attended to

125、 and timely handled,so as to minimize information security risks,create a safe and reassuring shopping environment for consumers,and provide brand partners with reliable and reassuring supporting infrastructure.Inside-outside cooperation to control cyber security risks.Vipshop has established an ope

126、n cyber security protection platform called the Vipshops Security Emergency Response Center,with more than 1,000 registered white hat hackers who monitor the system and report security issues in real time.supplier information of different levels,and encrypts and desensitizes sensitive information.Vi

127、pshop clears requirements for the collection,transmission,use and destruction of data along the whole data chain,and performs regular self-inspections.The Comapny uses a pop-up notification to show the privacy agreement,to seek user permission for collecting information.The logout function is also p

128、rominently visible to users.信息安全意识教育培训（2020 全员）全员信息安全意识培训唯品学堂Vipshop scores loopholes reported by white hat hackers and reward them with cash prizes,and duly closes security loopholes in line with procedures and deadlines as specified in the Loophole Security Management Standards.Such training cover

129、s management requirements,norms,rewards and punishments,and is given in the form of online animation video and test.CORPORATE SOCIAL RESPONSIBILITY REPORT 2020Continuously Creating Economic ValueVipshop continuously creates long-term economic value for stakeholders and fulfills its responsibilities

130、for shareholders and investors through profiting on an ongoing basis.The Company drives the common prosperity of upstream and downstream companies along the e-commerce and retail industry chain,and fuels virtuous development of the local economy and society by paying taxes.Paid RMB 3.273 billion of

131、taxes in total in 2020As of the end of 2020,had achieved profitability for 33 consecutive quartersHad been enlisted among Fortune China 500 for 7 consecutive years,ranking 108th in 20201Ranked 24th among the Top 100 Chinese Internet Companies2Vipshop is active in participation of industry forums and

132、 seminars to support industry-wide communication and development.The Company has joined multiple industry associations in such fields as the Internet,e-commerce,corporate innovation and development,corporate credibility building,cyber information security,and personal information protection.Major In

133、dustry Associations Vipshop Joined in 2020Repeat CustomersIndicatorsRepeat customers(million)Percentage of repeat customers(%)Percentage of orders placed by repeat customers(%)）202068.281.397.7Economic ValueIndicatorsTotal net revenue(RMB billion)Cost of revenue(RMB billion)Total assets(RMB billion)

134、Net Income Attributable to Shareholders(RMB billion)Net Earnings per ADS(RMB)201846.176.196.6201884.52467.45543.5632.1293.22201955.079.797.6201992.99472.31448.5834.0176.022020101.85880.57358.9415.9078.75Internet Society of ChinaGuangdong E-business AssociationGuangdong E-commerce AssociationGuangdon

135、g Provincial Enterprise ConfederationGuangdong Provincial Internet Industry ConfederationGuangdong Province Enterprise Integrity of the Buildin AssociationGuangzhou Headquarters Economy AssociationGuangzhou Electronic Commerce Industry AssociationGuangzhou Innovative Companies AllianceGuangzhou Inte

136、rnet SocietyGuangzhou Enterprise ConfederationGuangzhou Logistics and Supply Chain AssociationChongqing Electronic Commerce AssociationChengdu Supply Chain Association1 Source:The List of 2020 Fortune China Top 500 enterprises2 Source:The Research Report on the Comprehensive Strength of Chinese Inte

137、rnet Companies(2020)jointly released by the Internet Society of China and the Chinese Ministry of Industry and Information Technology/26252 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPFor Vipshop,high-quality and energetic employees are the fountain of

138、 momentum driving the Company to innovate and move forward.We have aligned human resource strategies with characteristics of our industry as well as our development strategies.Staying people-oriented and caring about employees physical and mental well-being as well as happy life,we implement flat ma

139、nagement,create an equal,inclusive and positive workplace,develop a sound training system,and unblock channels for career development,so as to create a sustainable,bright future with employees.Reaching Further by Empowering EmployeesCORPORATE SOCIAL RESPONSIBILITY REPORT 2020Creating an Equal and Di

140、verse WorkplaceProtecting employees rights and interestsTo protect employees interests,Vipshop upholds the principle of equality and non-discrimination in recruitment,highlighting fair employment and giving full play to the talent of employees.The Company adopts a number of EHS management measures t

141、o safeguard the occupational health and safety of employees,stick to communicate with employees in a transparent manner.Vipshop always protects the rights and interests of employees according to relevant laws and regulations.We strictly comply with the Labor Law of the Peoples Republic of China and

142、local laws and regulations concerning labor,and sign labor contracts with all employees.We have implement Vipshop Management System on Salary,Vipshop Management System on Welfare and Vipshop Management System on Holidays.By the end of 2020,Vipshop had 7,567 employees,50.89%of whom were female.Since

143、2019,the Company has streamlined business structure to boost operation efficiency and outsourced a part of supporting functions to independent contractors and part-time personnel.In 2020,Vipshop hired a specialist third-party company to help optimize its remuneration system.The project team conducte

144、d market benchmark analysis on employees remuneration and reviewed the Companys remuneration strategies.Analysis results showed that“the remuneration of most Vipshop jobs is within a relatively reasonable range”.Based on the research results and suggestions of the project team,Vipshop upgraded its r

145、emuneration system for different job ranks/types of posts based on the market survey report and its practical conditions.Case：Hiring a specialist third-party company to improve our remuneration systemEqual employmentPrivacy protectionWe uphold the principles of diversity and fairness in employment.W

146、e guarantee that all job applicants and employees will face no discrimination because of their race,ethnicity,gender,religious belief,sexual orientation and lifestyle in recruitment and promotion,and ban workplace discrimination,forced labor,child labor and workplace sexual harassment in any form.We

147、 have established a sound employee archive confidentiality mechanism and set up a Human Resource Archive Room dedicated to keeping and managing employee records./28272 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPBetween 18 and 291,182By age groupOver 5

148、010Between 30 and 501,036By genderMale1,155Female1,073By management level Non-management 1,740Junior management 292Senior management 23Middle management173Chinese employees2,225By nationalityNon-Chinese employees3Total number of employees0.58%44.28%55.14%Between 18 and 29Between 30 and 50Over 50By a

149、ge groupTechnical school or belowJunior collegeBachelor degreeMaster/MBA degree or aboveBy educational background9.62%48.82%23.52%18.04%FemaleWomen in the managementWomen in management positions in revenue-generating functions41.44%39.46%7,567By other categoryEmployees of ethnic minorities2.81%0.58%

150、Employees with disabilities0.49%Foreign employees2.66%Minority employees in management In 2020,new employees 2,2284.786.43 14.64201820192020open positions filled by internal candidates(internal hires)(%)Labor contract signing rate 100%Coverage of social security 100%Employee membership of labor unio

151、n 99.87%Employee rights and interestsEmployee DiversityEmploymentCORPORATE SOCIAL RESPONSIBILITY REPORT 2020In line with the internal Environment,Health,and Safety Policy,the EHS Management Committee is set up to be accountable for the occupational health and safety of all employees.The Company has

152、adopted a series of EHS administrative measures to reduce occupational health risks.In 2020,the companys lost-time injury frequency rate for all employees was 1.4 per million hours worked.Occupational health and safetySpinal massage for employeesThe AED first-aid training for employeesEach year,we o

153、rganize employees to take physical exams at designated medical institutions or hospitals.We set up clinics and physiotherapy rooms to provide employees with timely and convenient diagnosis and treatment service,even traditional Chinese medicine treatment.We have also launched the Employee Assistance

154、 Program(EAP)and hired professional psychological consultants to provide daily counseling service to employees.The whole workplace is regularly cleaned up and disinfected so as to create a safe and clean office environment.Physical checkups and healthcare serviceWe organize fire drills regularly to

155、make sure our employees know what to do in case of fire.We also offer OHS and AED first-aid training to employees.When each new season begins,especially on certain solar terms,we post health preservation and well-being tips to employees via WeChat,bathroom news,and internal publications.Emergency dr

156、ills and first-aid trainingWe invite renowned physicians to give healthcare and lifestyle lectures on a regular basis,covering such topics as protecting the spine,cancer prevention and treatment,and science-based health preservation tips.Employees are welcome to attend the lectures either in person

157、or online.Recorded lectures are later uploaded to the Vipshop Online Classroom for employees to watch at any time.Healthcare trainingWhen decorating offline stores and the office area,Vipshop selects certain brands and requires suppliers to use environmentally friendly materials to protect the physi

158、cal and mental well-being of employees.We have also incorporated health and environmental requirements into the Pazhou Vipshop Mansion project and hired a specialist formaldehyde cleaning company to remove pollution in the workplace,so that employees can work in the new headquarters building safely.

159、A safe and green workplaceIn 2020,we conducted 20 safety inspections and 40 emergency drills./30292 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPDuring the Chinese Spring Festival holiday,we worked overtime to prepare for telecommuting,and launched seve

160、ral functions and sent telecommuting guidelines to employees.The work-from-home program was successfully launched on February 3.We provided hand sanitizers at the punch-in place,washrooms and dining hall,etc.,distributed masks and sanitary products to employees every day,and spread personal protecti

161、on and hygiene knowledge.We disinfected the office area,air conditioners,printers and various facilities every day,restricted the flow of people in elevators,smoking areas and dining halls,and kept the office area and commuting buses well ventilated to reduce transmission risks.The Human Resources D

162、epartment registered and tracked the health status of all employees who had travelled to the outbreak areas and showed relevant symptoms.We arranged dedicated personnel to take the body temperature of all people entering the office area.Conducting personnel screeningEncouraging telecommutingCreating

163、 a safe workplacePhysical checkups rate of employees(%)Number of employees participating in occupational health and safety training Employees participating in occupational health and safety training(%)Hours per employee participation in occupational health and safety training Annual total investment

164、 in production safety(RMB million)1008,0001002410.0010054,0001002414.232018202010025,000100248.002019Providing essential protective supplies and trainingProtection against COVID-19CORPORATE SOCIAL RESPONSIBILITY REPORT 2020Democratic management and employee communicationCommunication Channels for Em

165、ployeesA platform where employees can express themselves freely.Dedicated personnel are appointed to follow up and respond to hot topics on the BBS.Vipshop BBSA direct channel through which employees talk to high-level executives.CEO MailboxA biannual event where our two founders discuss with all em

166、ployees face to face about business portfolio,organization and corporate culture.Face-to-face Talks with Executives Listen to employees feedback through survey.360 Leadership AssessmentCEOs offline mail box.All received messages will be replied by CEO himself.DawnLight Mail BoxNon-management 84.42By

167、 management level Junior management 83.67Senior management 88.83Middle management84.12By genderMale 85.08Female 83.37By nationalityChinese employees 84.23Non-Chinese employees 80.47Vipshop adherings to the flat management of the Internet culture and opens up diverse communication channels for employ

168、ees to protect their rights to express themselves.We organize Labor Union meetings to promote democratic management and encourage employees to provide valuable advice that benefits the Companys development.We actively accept constructive suggestions of employees and safeguard their right of collecti

169、ve bargaining through face-to-face talks with executives and the 360 Leadership Assessment.Besides,we encourage employees to set up clubs and interest groups,securing their right to form associations freely.By age groupBetween 18 and 29 84.83Over 50 88.63Between 30 and 50 83.74Employee satisfaction

170、score 84.11Employee survey coverage rate 54.23%Employee satisfaction in 2020/32312 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPEmpowering Employees in Career DevelopmentVipshop is dedicated to customizing training programs that fuel fast growth of empl

171、oyees,unleash their potential,and equip them with working skills.The Company also unblocks career development paths,creating a platform for employees to grow,and achieve common prosperity with employees.Talent attracting and retainingVipshop conducts strategic workforce planning by means of people a

172、nalytics,to evaluate the talent needs to achieve organizational objectives.We align our talent structure and standards with key business targets and conduct an analysis of existing talents,so as to identify the gap and optimize the talent structure through a mix of measures,such as external recruitm

173、ent,internal selection,training,and job rotation programs.Through building a key talent pipeline,we effectively close the gap in organizing ability and thus fulfill strategic tasks with efficiency,winning significantly higher satisfaction from suppliers and front-end users.Recruiting and employing t

174、hrough multiple channelsAdjusting talent policies in real timeFormulating recruitment strategiesIdentifying turnover risks and enhancing the retaining rateCarrying out organizational network analysisBased on the corporate mission,vision and strategic orientation as well as key business objectives of

175、 the year,we systematically plan and build the strategic talent structure,including both quantity and quality.We strive to meet the needs of different recruiting channels,such as Internet,communities,headhunting,RPO,internal referral,on campus and overseas,and develop corresponding management system

176、s and assessment criteria for each channel to maximize recruitment efficiency and reduce costs.We value the feeling and experience of applicants throughout the recruitment process and strive to expand our brand influence.We follow up the business development and talent strategies of relevant compani

177、es in the Internet and e-commerce industry,and promptly adjust our talent attraction,incentive and retention strategies.Through external environmental analysis,surveys and employee interviews,we get to know the core employees thoughts about their work,intervene in timely and retain employees.Through

178、 adopting structural approaches such as surveys and team diagnosis,we conduct systematic analysis on and targeted improvement in the division of labor,communication and collaboration mechanisms and procedures,vitality and atmosphere,and management maturity.CORPORATE SOCIAL RESPONSIBILITY REPORT 2020

179、Enriching the employee training system*The statistics in 2020 is excluding front-line workers engaging in logistics,working in offline stores and customer service staff,and other employees without dedicated computers.Training campus for new-joiners.On-boarding training programs are customized for ne

180、w recruits joining us through social or on-campus recruitment,internship or management trainee programs to help populate our corporate culture,values and policies,and help them fit to the workplace smoothly.V-Learning.More than 1,000 online courses covering a wide range of majors are provided to hel

181、p employees learn and share the latest hands-on experience and skills at anytime,anywhere.Education grants.Employees are encouraged to improve themselves to adapt to the Companys growth needs through pursuing further studies.Eligible employees can apply for education grants.For instance,employees ob

182、taining Master,phD,MBA and EMBA degrees or professional certificates can apply for a set-proportion reimbursement for the tuition.Business training.Business departments launch purpose-built training programs to help employees sharpen professional skills and then advance business development and help

183、 employees improve themselves.Average training time per person 18.58 hoursAverage investment in employee training RMB 1,020.41Q&A with Masters,Galaxy Workshop,Learning Roadmap,Eagle Camp,Supply Chain Learning Alliance.Growth Camp,Product Innovation Brainstorming Club,UXDC Brainstorming Classroom.Sup

184、ply Chain Lean In,Operation&Maintenance Center:SRE Pioneer,Tech Forum.Vipshop empowers employees through a diverse and all-dimensional training system,providing comprehensive training programs,online and offline,to employees at different posts and improve their comprehensive abilities and job skills

185、.In 2020,Vipshop offered 47,309.26 hours of training to employees(excluding front-line workers engaging in logistics,working at offline stores and customer service staff,and other employees without dedicated computers).Business Training for Different Business Units:Business CenterOperation CenteProd

186、uct&Technology Center/34332 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPIn 2020,Vipshop Business Center organized the Galaxy Workshop to empower employees at key positions in implementing corporate strategies by enhancing their organizational capacity,

187、and promote internal collaboration as well as sharing of best practices.It taught trainees useful knowledge that can be effectively applied,attracting 15%of employees to participate in.Trainees successfully applied what they learn to multiple areas,including cooperating with new brands,performance a

188、ssessment and cooperation conditions,etc.The program produced 15 cases of excellent studies and improved outcomes,further improving Galaxy brand and product selection,marketing,and cooperation conditions.In 2020,Vipshop Operation Center launched the Growth Camp to tutor employees through knowledge i

189、nput and deliberate practices,helping them apply knowledge to solve real problems and come up with endogenous growth patterns.Through growth experiments,the program sharpened the growth mindset and skills of trainees which accounted for 12%of our employees.Focusing on first-time customers,regular cu

190、stomers and repeat loyal customers,the program studied three growth cases and explained in detail business model innovation,membership system and monthly subscription plan.More than 50 in-person seminars of over 70 hours were organized,and 16 experiments were designed and implemented.Two projects,fo

191、r example,Sheep Baa Baa Games and Monthly Subscription Plan,were incubated and launched.Through visualizing the user journey,the program made optimizations and cut transaction costs for users.Case:Organizing Galaxy Workshop to build employees marketing skillsCase:Launching Growth Camp to drive busin

192、ess growthCORPORATE SOCIAL RESPONSIBILITY REPORT 2020Unblocking career development pathsVipshop encourages employees to earn promotion opportunities through hard work and actively unblocks career development paths to break“glass ceiling”in the workplace and retain employees.We provide a restrictive

193、stock incentive plan for employees with outstanding contributions to form a long-term community of shared interests with employees,and encourage employees to create long-term value for the Company and pursue sustainable development.Rolling out long-term employee incentive plansOn the basis of perfor

194、mance assessment,we roll out long-term employee incentive plan,and implement a restricted stock incentive plan for non-executive employees with outstanding contribution,which covers about 30%of the non-executive employees.In 2020,the restricted stock incentive plan covered employees at V4 positions

195、or above,awarding a total of over 1 million options.Promoting career developmentVipshop carried out a comprehensive policy for the evaluation of employees and established the promotion review committees for various positions(including the technical post evaluation committee,product post evaluation c

196、ommittee and marketing post evaluation committee),to ensure that all promotion and performance evaluation decisions are reasonable,fair and professional with sound institutional guarantee.Assessing employees performanceVipshop comprehensively and objectively reviews employees performance and conduct

197、s through key performance and value assessment,360 Leadership Assessment,talent stock-taking,work reporting,to identify the current talent gap.In 2020,we assessed the performance of all employees and included the assessment of employee values involving“being kind,caring and charitable”into the long-

198、term incentive plan./36352 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPSending flowers to female employees on the International Womens Day Bringing Warmth to Every Vipshop EmployeeCaring for employeesIn 2020,Vipshop further improved its comprehensive“B

199、enefiting,Caring,and Growing-up”welfare system providing employees with more comprehensive benefits and support.Through considerate and caring benefits,we show care to employees,boosting their sense of happiness,identification and belonging.Caring for employees with special needs Vipshop established

200、 the VIP Love Fund with contributions of each and every employee.The fund comes from employees and goes to employees in need.We also carry out the VIP Love Reimbursement Program through the Labor Union to free employees from worries,and reimbursed RMB 1.57 million for 174 employees in 2020.Besides,w

201、e provide special benefits and welfare to special groups,such as the disabled employees and those in need.Relevant welfare care measures have been developed for pregnant and lactating employees,including priority in queuing for meals and well-equipped maternal and infant rooms.Vipshop regards every

202、employee as a family member.We send warmth and show care to employees through welfare programs,and organize a number of relaxing and pleasant activities to enrich employees life after work,to help them balance work and life and enhance their sense of happiness in an all-round manner.BenefitingGrowin

203、g-upSocial security and the housing provident fundHousehold registration services for employees based in Shanghai and Guangzhou Shuttle busesFree three meals a dayParking space,sky swimming pool,shooting hall,employee internal purchase,comfort hall,barbershop,KTV,cinema,golf room,basketball courtCar

204、ingInterest-free housing loanV-Love FundCustomized gifts for holidays and festivals Welfare annual leave,parents meeting leave,charity leaveEmployee activity associationDepartment-specific birthday partiesWedding and birth giftsAnnual meetingPersonal training and growth programTuition subsidy applic

205、ation(internal&external)V-Learning 24-hour-a-day learning platformVipshop school lecturer systemVarious clubsLibraryTeam buildingPublic welfare activitiesGyms and fitness coursesCommercial insurancePaid sick leaveAnnual physical checkupsHealth V Station&physiotherapy service&sleep cabinsPaid annual

206、vacationStatutory annual leavesCORPORATE SOCIAL RESPONSIBILITY REPORT 2020The 2020 Vipshop Cosplay Mini MarathonThe Vipshop family dayThe VIP Football TeamPromoting work-life balanceWe believe that it is our duty as a responsible employer to boost employees mood and help them achieve work-life balan

207、ce.In 2020,we continued to carry out various activities,such as club activities,lunchtime concerts,family day,and parent-child activities,to enrich employees life after work,build a platform where employees can develop interests and show their talent,and thus unleash their passion for work.Flexible

208、working hours.Employees are allowed to work in flexible hours within certain limits as long as they can meet the job requirements.Sports activities.VIP Love Marathon and hiking activities are organized every now and then,such as the Vipshop Cosplay Mini Marathon in 2020.Sports facilities.The office

209、area is equipped with recreational facilities,including gyms,dancing studios,yoga zones,and basketball courts open to employees.Cultural and sports clubs.We have a variety of employee clubs themed on basketball,football,baseball,table tennis,tennis,jogging,dancing and so on to enrich employees life.

210、The lunchtime concert/38372 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOP37/3837VIPSHOPUpgrade the core strategy,and improve service quality to create a full-scenario consumption pattern for customers.What Vipshop OffersResponsible for customersStandard

211、ize the management of brand suppliers,and enable access to more superior resources to help partners achieve sustainable development.Responsible for partnersCORPORATE SOCIAL RESPONSIBILITY REPORT 2020According to the data released by iResearch,Chinas discount sales market is expected to exceed RMB 1.

212、6 trillion in 2021.Consumers are making more rational shopping decisions,preferring quality products with reliable brands and reasonable prices.As a market leader,the Company aim to allow every customer to lead a happy and quality life as easily as a VIP by providing more diverse and cost-effective

213、branded products with more reliable quality,as well as better services.We have promoted comprehensive upgrading of the“discount sales of branded products”strategy.Discount SalesLeading a Quality LifeCORPORATE SOCIAL RESPONSIBILITY REPORT 2020/40392 What Vipshop Offers 3 Corporate CitizenshipSelf-Imp

214、rovement and Corporate Governance1VIPSHOPFull-matrix Upgrade of“Brand Discount Sales”Shen Ya,Chairman and CEO of VipshopAfter the coronavirus was largely put under control in China,the consumption of quality and cost-effective products became a new trend.Consumers became more rational,more conscious

215、 of cost performance,and more willing to pay extra for premium and deeply-discounted goods.This sped up the shift from brick-and-mortar shopping to online shopping,enhancing the frequency and stickiness of online consumption.In 2020,Vipshop seized the trend of online consumption recovery and adhered

216、 to the innovative e-commerce model of“brand discount+limited offering+guaranteed authenticity.”In September,we launched the new slogan,highlighting the concept of “branded products”with more emphasis on“deep discounts”to appeal to a wider range of age groups.We aim to establish a comprehensive onli

217、ne and offline discount sales platform for the masses where customers can buy quality products at deep discounts to meet their aspiration for a better life.692 million orders in 2020year on year22%upyear on year22%upyear on year22.5%up677 million orders placed by repeat customers83.9 million active

218、customersWe will continue to provide customers with an amazing experience of discount sales of branded products by sourcing deeply-discounted products,developing more bespoke products with well-known brands,and increasing investment in customer experience improvement.CORPORATE SOCIAL RESPONSIBILITY

219、REPORT 2020Upgrading Operations to Deliver the Best Consumer ExperienceA premium shopping experience is one of the underpinnings of continued growth of online retail.Focusing on the core strategy of“Brand Discount Sales”,Vipshop continues to work on social e-commerce,deepen the consumption pattern o

220、f“selective brands,deep discount,and limited offering”,and launch more innovative,diverse and user-friendly consumption scenarios,providing our customers with the best shopping experience possible.We organized large-scale promotional activities,such as November 11 promotion campaign and 12.8 Anniver

221、sary Sale,where we met diversified consumer demand by offering them products at low prices,as well as the greatest variety of popular brands.We use big data to identify high-quality goods that meet consumer requirements,and impel brand suppliers to redirect their production and accelerate their work

222、,so as to reduce product prices.We also drive brand suppliers to develop new product models,update fashion designs faster,and tailor clothes to the preferences of Chinese consumers,making a number of domestic brands go viral.We provided more regular discounts,such as VIP Snap,On Sale Now,Limited Off

223、ering,Clearance Sale of Branded Products,so that customers could buy products at a more affordable price than other platforms.In addition to the annual discounts provided by brand suppliers,we offered extra subsidies to consumers who,when buying more than two products,can enjoy another 10%discount o

224、n the basis of the lowest discount of the year.At the same time,Vipshop Super VIP members could enjoy an additional 2%discount when shopping in our over 300 offline stores nationwide.During the 12.8 Anniversary Sale,influential Internet celebrities,including Li Dan,Qi Wei,Xue Zhiqian and Jike Junyi,

225、shared their shopping tips and product experience on Vipshops official account on Douyin(the Chinese version of Tiktok)to help consumers select good products.In addition,Luo Yonghao recommended Vipshops best-selling products to his audience in his live streaming room.Subsidized discountsRecommendati

226、ons from celebrities via live streaming platformsThe 12.8 Anniversary Sale kicked off at 10:00 am on December 1,2020.In this annual shopping spree,brand suppliers offered Vipshop consumers the biggest discounts of the year.The event covered massive categories of trending,premium,cost-effective and b

227、rand-new products to satisfy consumers demands.Case:Offering the Lowest Prices at the 12.8 Anniversary SaleIdentifying quality goods using big dataExpanding channels of regular discounts and quality productsOrganizing large promotional events and offering deep discounts/42412 What Vipshop Offers 3 C

228、orporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPCollection of Goods from around the WorldDeepening economic globalization in recent years has seen the globalization of consumer demand:branded products from overseas are gaining popularity among domestic consumers.To satisfy their

229、 demands,Vipshop released a five-trust upgrade strategy for cross-border business,aiming to build five core competitive advantages of“authenticity,selected goods,price,service,and size”.We have changed ourselves from“Discount Sales Platform for Cross-border Goods”to a“Lifestyle Service Platform”wher

230、e customers can“enjoy a wonderful life with global goods”,and introduced more international brands to our consumers to give them more shopping choices.Focusing on the our positioning as a“overseas direct purchase of global brand”,we continue to strengthen cooperation with domestic and overseas brand

231、 suppliers,which are numbered in more than 30,000.We offer a product mix covering a wide range of categories,from apparels and cosmetics to maternal and childrens clothing.Vipshop adheres to the strategy of“direct sourcing from places of origin,self-run authentic goods,free shipping and tax included

232、”.We have 10 offices around the world,including New York,London and Tokyo,and have a team of buyers with more than 2,000 people,who select all categories of goods worldwide to satisfy the growing consumer needs.All-category goodsAn All-category PlatformBuyer teams around the worldMore than2,000 prof

233、essional buyers around the globeMore than30,000brand partnersBoutique ClothingBeauty&Personal CareOverseas ProductsMaternity,Kids&Baby ClothesSingaporeLos AngelsNew YorkLondonFrankfurtSeoulTokyoHongkongMilanParisCORPORATE SOCIAL RESPONSIBILITY REPORT 2020Satisfaction of Differentiated Consumer Needs

234、To meet the diverse needs of different customer groups,we deepen cooperation with our brand partners,and use emerging technologies such as big data to identify the shopping preferences of each group,thus providing customers,old and new,with products they want and meeting their differentiated needs.B

235、ased on our insights into the needs of male customers,we have introduced more popular items appealing to male consumers,and launched new top-brand sportswear products at a discount of 30%to 50%to cater to the needs of big fans of sports and fashionable shoes.Growing of the male customer groupA repor

236、t from Nielsen,co-produced with Vipshop and Tencent News,finds 67%of Chinese women,especially those in first-and second-tier cities,are responsible for all household purchases.With the focus on the household needs of female consumers,we diversify our international brand products and daily necessitie

237、s,covering all household scenarios in China.The core female customer groupIn response to the growing demand for skin care products for sensitive skin,we work with Winona,a domestic brand specializing in sensitive skin care,to promote the development of customized anti-sensitive series,which are well

238、 received by consumers.CosmeticsFor female consumers who are health conscious but often stay up late,we have launched Swisses Liver Detox,Grape Seed and Deep Sea Fish Oil on our website,which have become blockbuster products since then.Dietary SupplementsTo cater to young mothers who were born in th

239、e 1990s,we cooperate with Aptamil to introduce the German version of Aptamil Profutura Milks Range,which is the best-selling milk powder product on Vipshop.Maternal&Baby Products/44432 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPUpgrading Distribution

240、Channels for New RetailVipmaxx Offline StoreIn 2020,Vipshop accelerated to open more brick-and-mortar stores,including Vipmaxx Offline Stores,Vipshop Offline Stores and Outlets.With our extensive experience in online platform operations,we also ensure the best shopping experience for our offline cus

241、tomers the best by offering them popular,cheap,authentic and quality products and providing consumers with a more personalized shopping experience through personal recommendation from and interaction with sales staff.Vipmaxx Offline Store,an all-category community discount sales brand under Vipshop,

242、offers clothing,skin care products,cosmetics,and mobile consumer goods in community shopping centers or shopfronts to local residents at affordable prices.Relying on powerful procurement,logistics,and retail technology,it has built a stable supply chain,and established partnership with 1,186 brands

243、through buyout,sale by proxy,and other forms.It constantly provides high-quality low-price authentic products to consumers under the FMCG model.By the end of 2020,about 240 Vipmaxx Offline Stores had been opened in 27 provincial regions around China,meeting the purchase needs of customers throughout

244、 the country and helping them lead a better life.Scope of servicesLocated in domestic communities and business districts,Vipmaxx Offline Stores provide a wide range of goods from clothing,electronic products,cosmetics,home textiles to mother&baby products,making it quite convenient for residents to

245、do offline shopping.Special servicesTo improve the offline shopping experience and reduce shopping costs,Vipmaxx Offline Store keeps sorting its products by the bar code.It has also established a complaint response group with the customer center of Vipshop to report customers complaints to the termi

246、nal for rectification and optimization as soon as possible and to improve customer satisfaction.Quality controlVipmaxx Offline Store has a fully-fledged system for inspection before sale.All the large goods arriving at the warehouse of Vipmaxx Offline Store will be inspected and sorted by the qualit

247、y control personnel of the warehouse.The defective products will be returned to the suppliers.CORPORATE SOCIAL RESPONSIBILITY REPORT 2020Vipshop Offline StoreVipshop city outlet Vipshop Offline Store is a community-based shopping center established in line with the trend of integrating online and of

248、fline retail channels.Through the optimum combination of fashion,brand,price and quality(FBPQ),and based on rich online brand resources and strong customer network data,we search for popular fashion brands from at home and abroad,and provide consumers with the best products and shopping experience a

249、t attractive prices.Vipshop Offline Stores cover first-to fifth-tier cities around China,mainly in community shopping centers,with different branded products available for cities at different tiers.This allows us to give consumers a differentiated and personalized offline shopping experience.With a

250、brand-new business model,about 310 Vipshop Offline Stores were opened in 32 provincial regions.On December 24,2020,our first city outlet was opened in Hefei,equipped with such amenities as a supermarket,cineplex,fitness club,KTV,bookstore,video arcade,childrens playground and other lifestyle service

251、 facilities.With the mode of online-offline integrated discount sales,we join hands with chain brand partners at home and abroad to continuously improve the consumer service system and immersive experiences,providing consumers with better goods and services.In addition,we have signed contracts to op

252、en more outlets in major cities in China.Under the“Plan 550”,we will restructure urban business landscape and upgrade the consumption behaviors and lifestyles of local residents by offering“Brand Discount Sales”.Targeted at consumers living around the shopping center,Vipshop City Outlet(Hefei)is har

253、nessing the advantages of the commercial circle to establish a reputation as a shopping,leisure and entertainment destination for local consumers.We organized promotional activities online and offline,and strengthened the connection between offline stores and customers.Based on customer management,m

254、arketing management and online business platforms,and with the help of mobile Internet and big data technology,we provide customers with a full range of online and offline services.Whole-process service management is in place to fully safeguard the interests of customers:1)the quantity and appearanc

255、e of goods are checked and recorded before sale;2)mark clearly the prices of goods,regulate the management of price tags,and handle customers feedback properly;and 3)strictly implement the 7-day no-questions-asked return policy for goods sold./46452 What Vipshop Offers 3 Corporate CitizenshipSelf-Im

256、provement and Corporate Governance1VIPSHOPGuaranteed Product Quality across CategoriesGuaranteed Source of CommoditiesAll platforms take responsibilities in the first placeInspection by professional institutionsTraceable closed-loop service processQuality management system certificationEight checkpo

257、ints for product qualityReturn of goods and refunds without reasons within 7 daysFormal authorization of well-known brandsHuman-machine interacted verification of advertisementsMultiple insurancesVipshop has released a series of measures such as“10 Guarantees for Authenticity”and“9 Articles for Qual

258、ity Control”,and built a closed-loop and traceable guarantee system featuring global direct sourcing,commodity inspection,online and offline linkage,insurance guarantee,and after-sales service.With these measures,we aim to deliver high-quality operations and services for and meet the personalized ne

259、eds of our customers.Adhering to the strategy of providing“goods directly sourced from places of origin and sold by Vipshop”,and based on our partnership with a variety of brands,we set up buyer teams in many countries and regions around the world to sources goods and ensure their quality from the p

260、laces of origin.Direct sourcing around the globe to ensure the authenticity of goods:Vipshop visits the places of origin for field surveys and certification of origin,comprehensively evaluates the suppliers and inspects the environment of production plants.At the same time,we cooperate with speciali

261、st accreditation agencies to verify the authenticity of goods,establish a supplier integrity evaluation mechanism,and adjust the procurement strategy according to the sampling results,thus ensuring that all the products we sourced are authentic.Authenticated supply of goods with authorization guaran

262、tee:Vipshop cuts intermediaries and directly sources goods through legal channels from brand manufacturers and officially authorized general agents.We have established strategic partnership and signed strategic procurement agreements with many industry leaders,thus ensuring that every product sold h

263、as official traceability channels.(except for some special products)9 9Strength-based reliabilityQuality assuranceGoods supply guaranteeAuthorization guaranteeThird party guaranteeAfter-sale guaranteeQuality inspection guaranteeLogistics guaranteeCredit guaranteeAuthority guaranteeguarantees10Nine q

264、uality control principles CORPORATE SOCIAL RESPONSIBILITY REPORT 2020Worry-free after-sales Services To“improve customers shopping experience”,we have put in place a well-developed after-sales service mechanism,which,from offline goods inspection,nationwide quality assurance,promised compensation fo

265、r fakes,to 7-day no-questions-asked returns,to deliver customers a safe and worry-free shopping experience.Strict Control of ProcessTo“build a complete process for products sold by Vipshop”,we have put in place our own product inspection process consisting of 5 inspections before sale and 3 inspecti

266、ons during sale.All the goods are subject to strict quality inspection and supervision on all links,including sourcing,inbound arrival,storage,sales,outbound delivery and logistics,to deliver high-quality goods to every customer.MeasuresCarrying out sampling inspection on the quality and compliance

267、of key branded products delivered by suppliers to Vipshop warehouses;The warehouse IQC team is responsible for checking the package,physical integrity,colour value code of the product.Regular and circular assessment to grade the product quality and check the expiry date.Spot-checking the quality gra

268、de of goods for compliance with sales standards when orders are sorted for outbound delivery.Improving the packaging quality and transit containers to increase the freight load and enhance the transport safety;reducing the use of plastic woven bags to promote green and sustainable development.LinkSo

269、urcing&Inbound ArrivalKey PointIQCSampling InspectionOQCHandoverLogisticsOutbound deliveryWarehousingVipshop establishes a complete after-sales refund or replacement system for consumers.In addition to 7-day no-question-asked return commonly practiced in the industry,we offer speed return or refund

270、service with the help of the warehousing system for goods sold by Vipshop and SF Express.Worry-free return and after-sales servicesEvery commodity sold by Vipshop is insured by PICC,with promised quality guarantee.Third-party insurance guarantee/48472 What Vipshop Offers 3 Corporate CitizenshipSelf-

271、Improvement and Corporate Governance1VIPSHOPConsiderate Whole-Process Services for CustomersEfficient and Convenient Logistics ServicesCommitted to“serving members wholeheartedly”,we focus our services on practical areas that customers are most concerned about,including logistics,after-sales service

272、 and information security.To create a quality and pleasant shopping experience for our customers,we have employed information technology to these areas,and continuously introduce new service models and better services.The timeliness of warehousing and delivery will directly affect the degree of cust

273、omer satisfaction.Therefore,we have built an intelligent and automatic warehousing system,and launched a number of logistics automation projects to increase the efficiency of outbound delivery.We have also strengthened cooperation with SF Express to provide users with better logistics services.Intel

274、ligent warehousing.In 2020,we launched the Northeast China Warehouse Transport Line Project and the Huzhou Phase II Customer Return and Overhauling Center Automation Project in East China.Telescopic belt conveyors are adopted to load and unload trucks.Merging/diverging directions turning roller conv

275、eyors are introduced in all links of transportation of goods,including IQC,racking,sorting,collection,retrieval and return to suppliers.By doing so,we effectively recycle empty containers in all links,automate operations in inbound arrival,order sorting and withdrawal,and make long-distance transpor

276、t between warehouses easier.7 logistics hubs equipped with automatic warehousing systems1 million square meters of automatic warehouse space and 75 km transport linesThe worlds largest honeycomb system and 3 sets of the worlds most advanced commodity sorting machinesNationwide delivery.We further ou

277、r cooperation with SF Express for continuous improvement of the speed and quality of our logistics and delivery services.By the end of 2020,our delivery services basically have achieved full coverage in China,to ensure high-quality last-mile delivery services.Parcel sorting machineCORPORATE SOCIAL R

278、ESPONSIBILITY REPORT 2020High-Quality Services to the Satisfaction of Customers Customer satisfaction surveyed over the phone98.44%Vipshop integrates the protection of consumers rights and interests into our corporate governance and corporate culture in strict compliance.We provide consumers with en

279、joyable services on our platform by safeguarding their rights and interests,including information security,free returns&exchanges,comments and guaranteed prices.Convenient returns and exchanges.We provide free door-to-door return and exchange services for customers.SF Express picks up returned goods

280、 sold by Vipshop.Guaranteed prices.We work to improve the shopping experience,operations and services.By upgrading the customer service system,we help solve customer complaints in a timely manner and deliver the refund more quickly.We also offer 10-day price protection starting from the day of purch

281、ase.These services assure our consumers,thus improving their stickiness,repurchase rate and satisfaction,and driving the long-term growth of the number of Super VIPs.Openness to feedback.We value every customers feedback.We have set up a call center,an online customer service center and an intellige

282、nt customer service system,provided unimpeded channels for customers to make complaints,and optimized the procedure for handling customer complaints,so that the voice of customers can be heard quickly and conveniently and their problems be solved as soon as possible.By the end of 2020,we had nearly

283、2,000 customer service specialists who respond to customers demands and suggestions on the internet or over the phone.Online service centerMrs.Chen,a customer from ChongqingThe pair of SKECHERS GOwalk shoes I bought on the Vipshop platform cost me only RMB 185,compared to the price tag of RMB 649 in

284、 the brick-and-mortar brand store.When I received the shoes and tried them on,I found them a bit small,so I applied for free door-to-door exchange service.I received the new shoes delivered by the courier in only two days./50492 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corpora

285、te Governance1VIPSHOPSupply chain management is a key link underpinning the sustainability of a business.We closely follow the social,economic and environmental impact of our supply chain,and work to ensure continued supply of goods and respond to supply risks effectively.We incorporate compliance,q

286、uality and environmental considerations into our supply chain system featuring openness,fairness and impartiality,which allows us to gather multiple resources for win-win outcomes.CooperationPooling Resources for Win-win Outcomes CORPORATE SOCIAL RESPONSIBILITY REPORT 2020Building a Sustainable Supp

287、ly ChainVipshop believes that a sustainable supply chain is the cornerstone of our long-term development and the quality of our products and services.Based on the pursuit of high quality,and guided by safety,environmental protection,labor practices and other elements,we work and grow with our suppli

288、ers through mutual aid and mutual benefit.Lifecycle ManagementSupplier AccessWe manage our brand partners and suppliers across the entire lifecycle,from access,cooperation,evaluation and improvement to disqualification.We are committed to improving the sustainability of our supply chain and building

289、 a reliable and trusted supply system for end consumers.The access of our suppliers is based on the principle of sustainable development.We evaluate suppliers ability to fulfill their responsibilities in terms of quality,environment and labor practices,and build a supply chain value system that bene

290、fits suppliers,consumers and Vipshop.Our supplier evaluation consists of the following steps:qualification assessment(review on qualification documents),site/project inspection,technical/business evaluation and contract fulfillment/performance evaluation.During qualification assessment,we accurately

291、 match previous project cases,and inquire into the potential risks and legal disputes of brand partners and suppliers through such third-party software as TianYanC,so as to avoid suppliers with potential legal,financial risks,or with suspected ability to perform contracts,or negative environmental a

292、nd community impact.We include ESG audit factors(product quality,workplace safety,employee relations,labor disputes,environmental protection,etc.)in our mechanisms for the selection,contract performance evaluation,and elimination of brand partners and suppliers.We demand suppliers to provide their I

293、SO14000 and SA8000 certifications,if applicable,and give preference to those certified by ISO 9001 and ISO 14001.Evaluation throughout the lifecycleAssessment of all risksIncorporation of ESG elementsBased on the types and execution of specific projects,we conduct due diligence on the situation of c

294、ompetitors and market resources,similar project contracts and other areas,while at the same time carrying out case reviews,on-site demos and other assessments to ensure that our selected brand partners and suppliers have proven ability to fulfill their responsibilities.Project-based assessment/52512

295、 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governance1VIPSHOPSupplier Coaching and SupportWe remain committed to seeking long-term,common development with our brand partners and suppliers,and supporting them in their growth and expansion.We dedicate ourselves to estab

296、lishing a multi-channel,efficient and regular communication mechanism with our brand partners for mutual benefit.We regularly invite brand partners to visit us,and in 2020,had two to three meetings with KA brands per month.(Some activities were held online due to the pandemic).We also hold annual or

297、 semi-annual conferences with our brand partners,as well as quarterly symposiums with category-specific suppliers.In 2020,we took the initiative to fulfill our social responsibility by supporting the brand partners and suppliers hard hit by the COVID-19 outbreak,to tide them over the difficulties by

298、 cutting our profit margins and providing them with subsidies.Evaluation and Disqualification of SuppliersWe carry out annual evaluation of our suppliers based on quality and throughout the project lifecycle,focusing on business ethics,quality control,corporate culture,environmental awareness,labor

299、practices,among other fields.By the end of 2020,none of our suppliers was found to have sustainability risks.The quality of our suppliers is assessed on a monthly basis in forms of pre-sale and during-sale sampling inspection and after-sale customer feedback collection.For partners rated as“to be im

300、proved”,we will set improvement targets and measures,and check all their products with third-party inspection agencies.This has helped us reduce the product quality complaint rate.A responsive system.We take faulty products reported by our members off the shelves,and urge suppliers to strengthen qua

301、lity control and enhance our members shopping experience.Credit rating.We work with specialist accreditation agencies to verify the authenticity of products,and put in place a mechanism to rate the credit of suppliers based on the results of sampling inspections.Our procurement strategy will be adju

302、sted accordingly.Full-coverage sampling inspection.Both the sampling inspection budget and scale have been increased by 70%to cover all brands.Brands with substandard products will be subject to repeated inspections,and suppliers which fail repeatedly in the inspections might be disqualified.From Ja

303、nuary to April 2020,in order to support Hubei suppliers stricken most severely by the epidemic,we provided them with millions of subsidies.For other suppliers affected by the epidemic,we launched the“Warm Spring Project”and“Climbing Project”,as well as a number of sales rebate events during the Spri

304、ng Festival holiday and winter in 2020,to boost the sales of brand partners and make up for their losses in the first quarter of the year.The total amount of rebate reached nearly RMB 100 million.Performance in Supply Chain ManagemenNumber of non-product suppliersPercentage of suppliers contract per

305、formance(%)Number of newly-added suppliersKPIs3,27410078120202,49310071320196781002032018Case:Standing with Hubei to Pull Through the Difficult TimesCORPORATE SOCIAL RESPONSIBILITY REPORT 2020Supplier Compliance ManagementA Fair Competition PlatformThe Bottom Line of Business CooperationUpholding bu

306、siness ethics,Vipshop continuously strengthens supplier compliance management to provide an open,transparent and fair platform for suppliers.We have offline and online anti-corruption communication and training activities for suppliers,and demand all brand partners and suppliers to sign the Agreemen

307、t on Anti-commercial Bribery and the Confidentiality Agreement in line with Vipshop Procedure for Procurement Management.The Legal Department,Compliance Department,Asset Purchase Department,Business Center and Finance Center work together to build an open and fair playing field for suppliers by supe

308、rvising the bidding process and conduct annual compliance evaluation of brand partners and suppliers.With the Asset Purchase Department as the lead department,we regularly assess the risks facing supplies to fulfilling their responsibilities,monitor and control the supply risks,and promptly take cou

309、ntermeasures in response to abnormal situations.If necessary,the Legal Department,Compliance Department,Finance Center and other departments will intervene in time to avoid risks.In case of any illegal,non-compliant or unethical behaviors of our brand partners and suppliers,we will initiate the repo

310、rting process without delay,and terminate cooperation with them immediately on the instruction of the procurement director.We strictly reviewed the qualifications of domestic trade partners,and denied cooperation with those squatting well-known trademarks,with unclear or controversial authorization

311、chain,or providing false documents.We revised anti-commercial bribery clauses,and drafted or revised agreements such as products sales contracts and annual sales reward agreements for suppliers.We updated the online display of network access permits for equipment and products.We revised and reviewed

312、 MP platforms Measures for Supervision and Management of Product Quality,Rules for Points-based Management of Merchants on Vipshop Open Platform,among others.Major supplier compliance management measures in 2020/54532 What Vipshop Offers 3 Corporate CitizenshipSelf-Improvement and Corporate Governan

313、ce1VIPSHOPEmpowering Brand PartnersTo meet the ever-changing consumer demand,e-commerce platforms must continue to innovate.Vipshop is well aware that we alone cannot meet consumers needs for a better life.Only through deep and win-win cooperation with the brand partners can we provide consumers wit

314、h better products and a better shopping experience.Big-Brand Discount Sale is designed as a comprehensive,three-dimensional communication platform between brands and customers.Through in-depth research into customers,we provide online and offline market opportunities for our brand partners such as B

315、osideng,SKECHERS and leading beauty brands,assisting them in quickly adjusting product planning and expanding product lines to meet the personalized needs of our customers.By doing so,we have succeeded in making the sales volume of a trending product hit 1 million.Our Brand Express Project serves as

316、 the forefront of regular discount sales,daily sales,and product transformation.We set to boost brand performance on our platform and help brand partners achieve rapid growth through two major IPs Big-Brand Discount Sale and Trending Products Day.Brand Express Project for a Win-win ResultBy giving f

317、ull play to our advantages in the fields of big data,platform support,logistics and warehousing,we provide solutions for many brand partners regarding market insight,channel development,consumer interaction and goods turnover.This helps them break development bottlenecks,and eventually achieve a win

318、-win situation among brand partners,consumers and Vipshop.This helps leading brands consolidate the existing market share and tap potential markets,thus gradually narrowing the gap with their peers and achieving explosive growth.Big-Brand Discount SaleThis event allows customers to buy best-selling

319、products sold at deep discounts,promotes potentially trending brands,and attracts new customers to different product categories.It is an event where the most trending products go viral within a shorter time.Trending Products DayOur Brand Express Project launched 283 events and established partnershi

320、pwith more than 200 brands.In 2020CORPORATE SOCIAL RESPONSIBILITY REPORT 2020In 2020,Vipshop and Bosideng signed a cooperation agreement.Our discount sale events empowered Bosideng to grow in terms of products,channels and marketing,achieved 105%of the target,raising its sales by 65.3%year-on-year.C

321、ase:Big-Brand Discount Sale Stimulates Bosidengs High-quality GrowthWith Big-Brand Discount Sale and our suggestions,Bosideng diversified its product lines and launched a variety of Vipshop-exclusive products.Since August 2020,Bosideng has participated in six Big-Brand Discount Sale events,and toppe

322、d Big-Brand Discount Sale in the category of womens clothing in 2020.We offered personalized product planning suggestions and promoted product line expansion and supply chain upgradePrioritized scheduling was set up to balance daily sales and discount sales.We helped Bosideng approach potential cust

323、omers with full exposure,high-quality products,and competitive prices.We helped sort out Bosidengs annual plan to ensure its continuous growthResources inside and outside our network,including homepage displays,search results,targeted user communication,live streaming,and OTD advertising,were fully

324、utilized to help brands connect with highly-related customers and improved input-output ratio.In October 2020,Bosideng did it first live streaming in Big-Brand Discount Sale,which attracted a great many new high-quality customers.We integrated resources inside and outside us to help brands reach the

325、ir target customers55/56553 Corporate CitizenshipSelf-Improvement and Corporate Governance12 What Vipshop Offers VIPSHOP55/5655VIPSHOPAdopt a sustainable vision of corporate development,integrate the gene of charity into our corporate culture,and take concrete actions to spread love.Corporate Citize

326、nshipResponsible for societyIntegrate the concept of green development into our strategy,business and actions,serve the low-carbon lifestyle with green e-commerce,and live in harmony with the environment.Responsible for the environmentCORPORATE SOCIAL RESPONSIBILITY REPORT 2020As Internet-based char

327、ity gains popularity,it has been attracting the participation of more and more diverse groups.Giving full play to our advantages,Vipshop applies the thinking of Internet to the planning and implementation of charity programs,to promote the development of charity undertakings,especially in such areas

328、 as women empowerment,targeted poverty alleviation,Internet-based charity innovation,and youth development.We have organized various charity programs and provided more considerate and valuable services to the disadvantaged groups,aiming to inspire people to be kind to each other and take actions thr

329、ough a more convenient and diversified way of interaction,thus making due contribution to building a better community and enjoying a happy life.CharityGiving Back to SocietyCORPORATE SOCIAL RESPONSIBILITY REPORT 2020/58573 Corporate CitizenshipSelf-Improvement and Corporate Governance12 What Vipshop

330、 Offers VIPSHOPVisible E-commerce Charity OutcomesMaking full use of its advantage as an e-commerce platform,Vipshop has worked together with consumers,brand partners,suppliers and other stakeholders to explore a sustainable charity ecosystem,and successfully built an Internet-based charity model wi

331、th distinct business characteristics.We have created more shared value and promoted the development of charity undertakings with the force of enterprises,market and the Internet.Vipshop Charity AchievementsIn 2020,Vipshop has invested over RMB 65 million to continue to deepen the development of wome

332、n empowerment,targeted poverty alleviation,Internet-based charity innovation and youth development.Vipshop has launched a series of flagship charity programs,such as VIP Mothers,VIP Love Charity,VIP Love Workshop,and VIP Love Aid for Agriculture.As of the end of 2020,we had invested over RMB 265 mil

333、lion in charity.CORPORATE SOCIAL RESPONSIBILITY REPORT 2020Contributing to Poverty AlleviationVIP Love Workshop Breathes New Life into Intangible Cultural HeritageHaving suffered from poverty for a long time,people are longing for moderate prosperity.By the end of 2020,all the 832 poverty-stricken counties in China had emerged from poverty,marking the eradication of extreme poverty in the country,