1、ENVIRONMENTAL，SOCIAL AND GOVERNANCE REPORT 2023ContentsAbout This ReportChairmans Message2023 Key Results:Overview010203040610About VipshopBusiness overviewCorporate governanceSustainable development management042627343536V-EcologyAddressing climate changeConserving biodiversityStrengthening environ

2、mental managementSupporting the building of low-carbon society3738444749V-TalentTalent attraction and retentionA culture of diversity,equality and inclusionEmployee developmentOccupational health and safety51526062V-CharitySupporting rural revitalizationEmpowering womens developmentCreating better c

3、ommunities141519V-DevelopmentProviding high-quality productsImproving the quality of services2225Protecting information security and privacyCreating a responsible supply chain65AppendixesAppendix I:Key performance indicatorsAppendix II:GHG verification statementAppendix III:GHG inventory and account

4、ing boundariesAppendix IV:Index of reporting indicators65676768About This Report012023 Key Results:OverviewAbout VipshopChairmans MessageV-EcologyV-TalentV-CharityAppendixesV-DevelopmentReporting scopeReport approvalReporting standardsNotesDisclaimersAccessThe organization scope of this report cover

5、s Vipshop Holdings Ltd.,its subsidiaries,branches,and variable interest entities.For ease of presentation and reading,this report also utilizes the terms Vipshop,the Group,the Company and we.This annual ESG report covers related data from January 1 to December 31,2023.To enhance comparability with p

6、ast and future periods referred to within the report,some content has been extended.This report was ratified and approved by Vipshops ESG Committee.This report has primarily been written in accordance with the GRI Sustainability Reporting Standards(GRI Standards)of the Global Reporting Initiative(GR

7、I).Vipshop guarantees this report does not contain any false records,misleading statements,or significant omissions.The information,data,and calculation methods quoted in this report are consistent with the relevant indicators disclosed in the Companys annual report.The Board of Directors is respons

8、ible for the authenticity and accuracy of the content of this report and unless otherwise stated,this report uses RMB as the primary unit of currency.Part of this report contains projections,including,among others,those regarding the planning and targets for the future development of the Company.Thi

9、s part of the report may be impacted by uncertainty which may result in discrepancies between the described content and actual results.Vipshop is not responsible for the updating of any statements of projection included in this report.This report can be read and downloaded from Vipshops official web

10、site（https:/ you have any further enquiries,or any questions or comments about this report,please contact us by email at IR.About This Report02About This Report2023 Key Results:OverviewAbout VipshopV-EcologyV-TalentV-CharityAppendixesV-DevelopmentChairmans MessageThe times are evolving at a swift pa

11、ce.We have always held the conviction that a company that commands genuine respect should proactively reflect on and respond to the call of the times.2023 marks a significant milestone for Vipshop as we make substantial strides towards sustainable development.To address the core demands of stakehold

12、ers,we have focused on our ESG strategic objective of co-creation of a new sustainable life,based our efforts on resolving real problems,persisted in our down-to-earth approach,and collaborated closely with our stakeholders to design,discover,and create a sustainable new life.Through these tangible

13、efforts,we aim to deliver on our corporate responsibility and convey our commitment to humanistic care.Moving toward carbon neutralityFacing the profound challenges of global climate change,we have taken a decisive step toward our carbon neutrality goal,committing to make our own operations carbon n

14、eutral no later than 2030,and achieve a 50%reduction in the intensity of scope 3 emissions no later than 2030.In 2023,we launched comprehensive carbon reduction initiatives across our operations and value chain,aiming to decrease carbon emissions through concrete actions and contribute to the achiev

15、ement of the dual-carbon target.Within our operations,we have been advancing a suite of carbon reduction initiatives,including photovoltaic power generation,green power utilization,and energy-saving renovations.A prime example is the Vipshop Guangzhou Airport Logistics Hub,which has integrated rooft

16、op photovoltaic systems into its main construction and adopted the principles of sponge city in its design,construction,and acceptance.Additionally,our headquarters building had achieved 100%green energy utilization by 2023.In the realm of value chain,we actively promoted green packaging practices.O

17、ver the course of the year,we reused recycled boxes 270,000 times and deployed 2.93 million biodegradable color bags.Furthermore,we actively collaborated with universities and research institutes in the innovation of biodegradable materials,which helps accelerate the commercialization of biodegradab

18、le packaging solutions within the e-commerce sector.We recognize the intricate link between climate change and the loss of biodiversity.In response,we have adopted the Vipshop Biodiversity Commitment that outlined our approach to preserving biodiversity.Concurrently,as a principal donor,we entered i

19、nto a partnership with The Nature Conservancy to support the Beijings Miyun Close-to-Nature Forest Management and Bird Habitat Optimization Project and foster a new paradigm of harmonious coexistence between humanity and nature in the urban periphery.Cooperating with local villagers,we are heartened

20、 by the progress of the Bird Habitat Optimization Project,which has not only optimized the habitats and migration stopover sites for rare migratory birds but also raised the ecological consciousness of local communities.The project has resulted in the observation of nearly 50 new bird species in the

21、 pilot area compared to the same period in 2022,marking a significant increase of avian diversity.Having witnessed such progress,we are even more convinced that the harmonious coexistence between humanity and nature is not a distant dream.Sticking to the companys business philosophy to foster a win-

22、win ecosystem for all stakeholders For years,Vipshop has adhered to a business philosophy of caring for customers,caring for employees,caring for partners,and giving back to society.With a sense of responsibility,we strive to provide customers with carefully selected quality products,foster a win-wi

23、n ecosystem for our partners,create a platform for employees to develop their career,and bring warmth to the society.Through our persistent efforts,we aim to gain customer trust,build brand credibility,improve employee satisfaction,and achieve social co-benefits.Adhering to the strategy position of

24、discount retail for brands to meet consumers aspirations for quality life.In view of the growing demand for high-quality,value-for-money goods,we continue to select top brands and genuine products from customers point of view,and work with leading brands to develop customized,value-for-money product

25、s while securing our price advantage,to meet consumer expectations for high-quality goods at reasonable prices.In addition,we have a global buyer team comprising over 1,000 members,dedicated to sourcing quality products from around the world.The signing of strategic partnership agreement with China

26、Certification&Inspection Group further bolsters our commitment to product authenticity,giving consumers greater confidence in their purchases.We have also enhanced our flagship promotional events such as Super Brand Day,Kuaiqiang and Fengqiang,and launched special events like the Sports for All Fest

27、ival and the New School Season,along with new featured channels like Vipshop Outlets,Vipshop Luxury,and Fashion Intelligence Bureau.These initiatives are designed to refresh the shopping experience on our platform and assist brands in connecting with their customers more effectively.Furthermore,unde

28、r our paid membership program,we have enriched the products,services and lifestyle benefits available to Super VIP(SVIP)members.This has led to a 13%year-on-year increase in the number of active SVIP customers,reaching 7.6 million for 2023,and a notable improvement in the renewal rate of SVIP member

29、s.Embracing the culture of diversity,equality and inclusion to cultivate a dynamic and vibrant workplace.We champion the philosophy of working efficiently and living joyfully,empowering our employees to achieve a healthier work-life balance.We value every member of our team and have released the Com

30、mitment of Vipshop to Diversity,Equity,and Inclusion(DEI),with the aim of advancing the DEI culture on multiple fronts,including enhancing the diversity of our workforce,promoting fairness throughout the talent lifecycle,and establishing a DEI resource groups.In our efforts to support employees with

31、 disabilities,we have created an equitable and inclusive environment through initiatives such as improving physical facilities and conducting training sessions that are sensitive to the needs of disabled individuals.Our goal is to ensure that all employees,including those with disabilities,feel comf

32、ortable and are able to pursue their aspirations in the workplace.By the end of 2023,we had 100 individuals with disabilities shining in the workplace.We also address the genuine needs of women in the workplace by actively cultivating a female-friendly environment.We have released the Vipshop Womens

33、 Career Growth Report to all our employees,presenting a group portrait of our female employees in the workplace and encouraging them to flourish and achieve personal development and breakthroughs.Furthermore,we have invested over RMB 120 million in the building of VIPer-home Apartment.These apartmen

34、ts,which are rented to employees at about 90%off from the market price,provide them with a secure and comfortable living space and greatly reduce their living cost.Actively engaging in philanthropy to create a harmonious society.We have launched a series of flagship programs,such as V-Love Mothers a

35、nd Langtou Village Rural Revitalization,in areas such as women empowerment and rural vitalization.By the end of 2023,Vipshops cumulative investment in public welfare projects had reached RMB 719 million.The constructions under the Langtou Village Rural Revitalization project,including the ChunYangTa

36、i,HeChunZhun,the immersive digital exhibition Painting China:A Journey of Calligraphy,and Lawn market fairs were all put in place.The Langtou model of cultural and public welfare empowerment has started to yield positive outcomes.In recognition of its success,Langtou Village has been selected into t

37、he first group of typical counties,towns and villages under the High-Quality Development Project for Hundreds of Counties,Thousands of Towns,and Myriads of Villages of Guangdong Province in 2023.Under the One Warehouse,One Village initiative,we have utilized the geographic proximity of our logistics

38、 warehouses to implement assistance projects tailored to the specific needs of each village,which have helped improve the living conditions and enrich the cultural life of residents in 12 villages.In the area of women empowerment,the V-Love Mothers program has provided support to 174,000 families in

39、 need.Additionally,we have donated a total of RMB 30 million under the For Westlake Women in Science program to support the growth and development of women scientists.The natural and social environments that humans rely on for survival are like lifelines and bedrock,essential for sustaining the long

40、-term existence and progress of humanity.The pursuit of high-quality development is not just a contemporary aspiration;it is also the duty of every corporate citizen.At this new juncture,we will continue to take the principle of sustainable development as our guide and stick to the goal of pursuing

41、joint progress.Understanding that to go fast,one should walk alone,but to go far,one should walk together,we will join hands with our stakeholders to craft a splendid vision for the harmonious coexistence of humanity with the nature and the society.We hold a firm conviction that Long as the journey

42、is,we will reach our destination if we stay the course;difficult as the task is,we will get the job done if we keep working at it.Chariman of Vipshops Board of Directors and CEOChairman of Vipshops ESG CommitteeEric Ya Shen032023 Key Results:OverviewAbout VipshopV-EcologyV-TalentV-CharityAppendixesV

43、-DevelopmentAbout This ReportChairmans MessageKey Results:Overview2023Carbon neutralityRural vitalizationIncorporation of ESG into performance appraisalCommitted to achieving our own operations carbon neutral no later than 2030,and a 50%reduction in the intensity of scope 3 emissions no later than 2

44、030Focused on merchandising strategy and cooperating with quality brands,established a comprehensive quality control system,including brand review,quality inspection and quality auditing,and entered into strategic cooperation with China Certification&Inspection Group to guarantee 100%product authent

45、icityESG-related indicators such as compliance requirements and information security have been incorporated into the performance appraisal of executives or employees to better promote ESG management on the groundIn recognition of the success of the Langtou Village Rural Revitalization project,the La

46、ngtou Village has been selected into the first group of typical counties,towns and villages under the Hundred Counties,Thousand Towns and Ten Thousand Villages High-quality Development Project of Guangdong ProvincetimesmillionvillagesIntroduced recycled cartons in return&delivery,which were used mor

47、e than 270,000 times throughout the yearInvested more than RMB 120 million in the building of VIPer-home Apartment,all of which are rented to employees at about 90%off from the market price;by the end of 2023,1,049 units of talent apartment had been provided,saving housing expenses for 1,128 employe

48、esThe One Warehouse,One Village program paired up with 12 villages throughout the year and organized 95 activities,benefiting 1,748 persons.Employee participation totaled 1,389 person-times,with 4,210 hours of assistance270,00012012MWhperson-timesmillionPromoted photovoltaic power generation,generat

49、ed 58,355 MWh of electricity throughout the year,equivalent to reducing 32,492 tons of CO2 emissionsIn the 11 years since the establishment of the V-Care Employee Assistance Fund,it has provided 1,850 person-times of assistance,with a total value of RMB 14.24 million,to employees facing critical ill

50、nesses and life challengesAs of the end of 2023,Vipshop had a total of 287 authorized patents,2,312 trademarks and 242 copyrightsBy the end of 2023,the V-Love Charity program had a total of 15.06 million users,and provided over RMB 20 million of funding for 41 charity projects58,3551,850%Women accou

51、nted for 48.3%of all employees and 42.8%of the management team in 202348.32,31215.06tonsRecycled a total of 43,910 tons of packaging materials such as cartons,plastic bags and other discarded items throughout the year A total of 651 employees received zero-interest loans for home purchase100%of empl

52、oyees received anti-corruption training;the total number of anti-corruption training attendances was 43,284The V-Love Mothers program has helped 174,000 single-parent families cumulatively43,910651174,000The headquarters utilized 100%green electricity.The Company used 19,357 MWh purchased green elec

53、tricity in total,equivalent to reducing 10,778 tons of CO2 emissions%100The number of information security or network security incidents recorded during the reporting year was 0;the number of employees and customers affected by information leakage throughout the year was 00%100%100millionBy the end

54、of 2023,Vipshop had invested a total of RMB 719 million in public welfare719Environmental IssuesSocial IssuesGovernance Issues04About VipshopV-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout This ReportChairmans MessageAbout VipshopBusiness overviewEstablished in 2008,V

55、ipshop(NYSE:VIPS)is a leading online brand discount retailer e-in China.Based on the business philosophy of discount retail for brands,Vipshop has pioneered the sales model of selected brands,significant discounts,and limited-time purchases in China,and developed a retail business covering all major

56、 categories,including clothing,shoes&bags,cosmetics,maternal&infant products,homeware and lifestyle accessories.Since its IPO in March 2012 through the fourth quarter of 2023,Vipshop has made profits for 45 consecutive quarters,and got included in the Fortune China 500 and Chinas Top 500 Private Ent

57、erprises lists for multiple times.In 2023,the Company was awarded the National May 1 Labor Award.In 2023,we adapted our retail business to the changing environment,explored more cooperation opportunities with quality brands to offer great value and quality products,provided a window to showcase the

58、worlds best consumer goods,embraced the market trend of consumption quality upgrade and diversifying demands,and catered to peoples needs for a better life.As of the end of 2023,the Company had established cooperative relationships with more than 46,000 brands accumulatively.Annual net revenueNon-GA

59、AP net profit1Annual total orders2Annual active customers3up 9.4%year-on-yearup 39.1%year-on-yearup 9.8%year-on-yearup 3.9%year-on-yearbillionbillionmillionmillion112.99.581087.401 For details of the Non-GAPP measures,please refer to the Companys press release titled Vipshop Reports Unaudited Fourth

60、 Quarter and Full Year 2023 Financial Results issued February 28,2024.2 Total orders refers to the total number of orders placed during the relevant period,including the orders for products and services sold through our online sales business and on our online marketplace platforms(excluding,for the

61、avoidance of doubt,orders from our offline stores and outlets),net of orders returned.3 Active customers refers to registered members who have purchased from our online sales business or our online marketplace platforms,excluding those who made their purchases from our online stores operated at thir

62、d-party platforms,at least once during the given period.RMBRMB05About VipshopV-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout This ReportChairmans MessageVIPSHOP SEA is a project brand developed by Vipshop for the Southeast Asian market in 2022.Under the project,the Co

63、mpany introduced the discount retail for brands model to the local market,and collaborated with famous overseas brands and domestic Chinese brands,providing consumers in Southeast Asia with products in various categories including fashion items,shoes&bags,cosmetics,maternal&infant products and house

64、hold supplies.As of the end of 2023,VIPSHOP SEA had been launched in Singapore,Malaysia,the Philippines and Thailand,cooperating with nearly 600 brands.Shan Shan OutletsOverseas businessStarting from 2019,Vipshop has been operating its own physical stores across the country to provide discount retai

65、l services to offline consumers.As of the end of 2023,Vipshops physical stores were already operating in 20 provinces,municipalities and autonomous regions,including Wuhan,Changsha,Chongqing,Chengdu and Beijing.Physical storesIn addition to the online sales model,Vipshop has developed its business i

66、n sub-sectors including offline retail,city outlets and overseas e-commerce in recent years,to provide quality and branded products to more customers.In July 2019,Vipshop acquired Shan Shan Outlets.As one of the leading outlet operators in China,Shan Shan Outlets provides consumers with branded good

67、s at discount prices,including both Chinese and international famous products and brands,which helps meet the demand for high-quality consumer goods.As of the end of 2023,Shan Shan Outlets had opened 16 outlets in Ningbo,Harbin,Nanchang and other Chinese cities,and kicked off construction of four st

68、ores(scheduled to open in 2024),cooperating with more than 700 brands.In addition to operating physical stores,Shan Shan Outlets is also actively exploring the sales model of online-offline integration,and providing online+offline services tailored to customers needs in different scenarios.City Outl

69、ets focuses on the offline outlet retail market,creating a one-stop life experience center that brings together international brands,fashion retail,specialty food and many other types of businesses to satisfy consumers demands for fashion products,family gathering,food&beverage,leisure&entertainment

70、,culture and social interaction.As of the end of 2023,Vipshop had opened three City Outlets experience centers in Hefei and Nanjing,featuring over 300 brands.City Outlets06About VipshopV-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout This ReportChairmans MessageCorpora

71、te governanceVipshop strictly abides by the requirements of the Company Law of the Peoples Republic of China and the New York Stock Exchanges Listed Company Manual and other laws and regulations,and puts in place a sound governance system with clearly defined responsibilities to regulate the Company

72、s governance work.Corporate governance frameworkThe Board of Directors established four specialist committees,i.e.the Audit Committee,the Compensation Committee,the Nominating and Corporate Governance Committee and the ESG Committee.Matters that fall under the duties of each specialist committee are

73、 submitted to the Board of Directors for review after being approved by the relevant specialist committee.A diversified Board of Directors can assess issues from a broader perspective,which is one of the key factors in maintaining good governance and promoting sustainable development of the Company.

74、Each year,the Nominating and Corporate Governance Committee,together with the Board of Directors,reviews the composition of the Board,including the diversity of Board members in terms of their independence,industry background,cultural background,technical skills,gender and ethnicity.Of the ten membe

75、rs that currently sit on the Board,five are independent directors,including one female.The Board members have experience in industries such as Internet information technology and services,distribution of consumer electronic products and strategic investment,and four of the directors(Eric Ya Shen,Art

76、hur Xiaobo Hong,Donghao Yang,and Nanyan Zheng)have experience in the consumer discretionary industry.An effective Board of Directors is essential for the Companys governance.Each year,the Company distributes questionnaires asking each director to evaluate the performance of the Board of Directors as

77、 a way to review the Boards operation efficiency.In terms of Board member participation,there was 100%attendance at all Board meetings in 2023.In 2023,the average tenure for each board member was ten years,which ensured both the continuity of the Boards membership and the updating of their skills an

78、d perspectives.The Companys management is responsible for the Companys operational management,organizing and implementing the Boards resolutions,the Companys annual plan and strategic plan,as well as performing other functions and powers conferred by the Articles of Association or the Board of Direc

79、tors.The Company has put in place policies,systems and process guidelines covering all aspects of business including operation,sales,human resources and finance to standardize day-to-day business operations.All First-tier DepartmentsManagement TeamCompensation CommitteeAudit CommitteeNominating andC

80、orporate Governance CommitteeESG CommitteeBoard of Directors07About VipshopV-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout This ReportChairmans MessagePunishment for violations of compliance guidelinesAny employee who violates compliance guidelines will be punished in

81、 accordance with the facts and circumstances of the situation in question,including warnings,cut in performance-based compensation and termination of employment.At the same time,the Company has incorporated compliance matters into the employee performance appraisal system,with KPI-compliance minus p

82、oints introduced for all first-tier departments.If any act that violates the law,ignores the compliance requirements,or undermines the interests of the state/society/public happens during the year of performance appraisal,the responsible department will lose KPI points for the year,which will have a

83、 direct impact on the performance-based compensation of all its members.Starting from March 2023,we require all senior managers and all new employees at or above V71 level to sign a Compliance Commitment.If a manager,or an employee working in the managers department,violates the compliance regulatio

84、ns,it will directly affect the performance appraisal results of the manager and the managers department,thus further reminding the compliance managers of their responsibilities.Strengthening compliance controlsWe revised and improved the rules on supplier operation and management and adopted a model

85、 of platform operation based on honesty and fairness.We pushed for the uploading and checking of hangtag images for apparel,home textile,boutique and other material-related goods.By comparing the material and price information in the hangtag images with that in the system,we further enhanced the acc

86、uracy of information on commodity pages.We also used digital technology to build a large-model compliance system,which is able to conduct scientific and reasonable compliance evaluation of platform functions such as generation of selling points,rewriting of product titles and generation of modeling

87、charts.Improving platform managementInternal and external compliance auditingThe Internal Audit Department regularly conducts independent audits of all departments,independently and objectively evaluating the appropriateness,compliance and effectiveness of their operational activities and internal c

88、ontrols,and provides recommendations for improvement to help them strengthen the effectiveness of corporate governance,risk management and process control.In 2023,the Company invited a third-party independent agency to conduct assessment of its business process as well as its fair competition and co

89、mpliance management system,and the audit covered Vipshop(China)Co.,Ltd.Compliance risk reporting channelVipshop has set up a compliance mailbox:.Employees who discover violations of compliance management may send an email to this mailbox or report to the Chief Compliance Officer.At the same time,ret

90、aliation,in whatever form,against employees who seek help or report known or suspected violations is strictly prohibited.1 According to Vipshops definition,V7 refers to mid-level managers.Improving complianceCompliance is both required by external regulators and necessitated by the Companys high-qua

91、lity development.Committed to ensuring compliance by all employees,the Company enforces compliance management wherever it conducts business,and makes compliance an integral part of its business,all in an effort to turn compliance into its core competitiveness and lay a firm foundation for building a

92、 sustainable business.The Company set up the Compliance Committee in 2021,which consists of Eric Ya Shen,Arthur Xiaobo Hong and members of the Companys senior management team at the vice president level,and heads of key departments such as the Legal Department,the Compliance Department,the Internal

93、Audit Department and the Asset Protection Department.Eric Ya Shen,Chairman and CEO of the Company,serves as the Chairman of the Committee.The Compliance Committee meets quarterly to evaluate the Companys compliance risks and draft improvement plans,including but not limited to legal and corruption r

94、isks,in an effort to improve the level of compliance management,and reports on a regular basis to the Board of Directors.In 2022,the Company appointed its General Counsel as the Chief Compliance Officer.In 2023,the Company issued the Vipshop Compliance Management Handbook to all employees,laying out

95、 the basic principles,organizational structure and operation systems of compliance management,and clearly explaining requirements of compliance that must be observed in advertising,marketing,and protection of personal information.The Handbook provided the compliance guidelines for all employees,and

96、firmed up the foundation of compliance management.08About VipshopV-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout This ReportChairmans MessageThe Company attaches importance to the protection of its own intellectual property rights(IPR),and also pays close attention to

97、 safeguarding the legitimate rights and interests of third-party IPR holders.In terms of qualification review,the Company continuously strengthens the auditing of the invoice chain of purchased goods,and conducts special and batch inspections on the brand qualification of suppliers to ensure the aut

98、henticity of products;in terms of the management of counterfeit big-brand products,the Company continues to inspect,intercept and manage counterfeit big-brand products through both mechanical and manual checks,so as to reduce and forestall IPR infringement risks of the sold products.At the same time

99、,the Company has organized a series of IPR training for business personnel,operation personnel,information security personnel and suppliers to stress the relevant risks and raise the IPR protection awareness of key personnel.Protecting intellectual property rightsCompliance culture is an important m

100、odule in the building of the compliance system,and the Company has designated January 14 as its annual Compliance Day.During the Compliance Day of 2023,the Company launched a week-long series of events to promote the culture of compliance and encourage employees to learn compliance knowledge and enh

101、ance compliance awareness.Promoting the culture of complianceVipshop keeps a firm,zero-tolerance attitude towards fraud and corruption,strictly abides by laws and regulations including the Anti-Unfair Competition Law of the Peoples Republic of China,and adopts the Companys own Measures for the Manag

102、ement of Anti-Money Laundering.In addition,the Company has published the Code of Business Conduct and Ethics on its official website,clearly stipulating the work rules and disciplines for employees,and demanding all employees(either working for the Company full-time,part-time or on temporary terms)t

103、o sign a commitment letter regarding the Code of Business Conduct and Ethics.Making available reporting channels：Vipshop has opened Corruption Reporting channels on its official website,official WeChat public account,official Weibo account,supplier platform and internal OA(Office Automation),etc.A r

104、eporting mailbox,phone line,and WeChat account are available for customers,suppliers,the media,investors,employees and all other internal and external stakeholders to submit complaints and reports.The Company has formulated the Vipshop Rules for Corruption Reporting to standardize the process for ha

105、ndling complaints.Upon receiving such reports,the Asset Protection Department promptly starts an investigation,and accepts the supervision of the Audit Committee and the Board of Directors.Regulating partners business behavior:The Company demands all suppliers or other third-party partners to comply

106、 with anti-corruption requirements,resist unfair competition and other non-compliant behaviors,and explicitly include anti-commercial bribery-related terms in their contracts,so as to jointly maintain a clean and healthy cooperative relationship.In addition to making available reporting channels to

107、suppliers,the Company also conducts business investigation on an ad hoc basis and analyzes collected data.If business anomalies or suspected bribe-taking by employees are found,the Company will also check whether suppliers have paid bribes to confirm their compliance with the anti-corruption policy.

108、If the act of bribery is suspected of violating the criminal law,the Company will follow the principle of investigating both active and passive bribery and cooperate with the public security department in taking judicial actions.Partners who come forward to report or cooperate with the investigation

109、 will be given rewards including cash bonus,resource support and favorable conditions for cooperation.Establishing a whistleblower protection system：In the Vipshop Rules for Corruption Reporting and the Asset Protection Departments Case Investigation System,the Company clearly states that informatio

110、n and materials relating to the complainant or the whistle-blower will be protected,and only those handling the reported incident could have access to the whistle-blowers information.Investigators who violate confidentiality rules will be dealt with in strict accordance with the Companys systems.Vip

111、shop strictly prohibits any form of retaliation against employees who seek help or report known or suspected violations and protects the personal safety and interests of whistle-blowers to the utmost extent.At the same time,the Company has set up a policy of cash rewards for whistle-blowing.If the r

112、eport is verified to be true,cash rewards will be given,and the amount of rewards will not be capped.Developing integrity training and education:To instill a culture of integrity,the Company has developed a series of training activities on subjects including,but not limited to,Vipshop Management Red

113、 Line,anti-corruption policy and the Companys view of integrity,covering all employees(either working for the Company full-time,part-time or on temporary terms),suppliers/contractors.In terms of integrity education,the Company sends integrity reminders to all employees and partners before holidays,a

114、nd organizes education campaigns on the Companys key internal systems and frequently-occurred disciplinary offenses to enhance the integrity awareness of all employees and partners.At the same time,the Company has set up an Integrity Section Regulating commercial conductof employees received anti-co

115、rruption training%100The total number of anti-corruption training attendances43,284Received the 2nd Private Enterprise Integrity and Compliance Innovation Award 1As of the end of 2023,Vipshop had a total oftrademarks2,312copyrights242authorized patents287Consulting the professional opinions of exter

116、nal experts:The Company invited external experts to brief the Compliance Committee on the law enforcement and regulatory efforts regarding the Internet,which helped the Committee members learn about the latest requirements and strengthen their awareness of compliance and management capabilities.Orga

117、nizing awareness campaigns:The Company organized compliance-related training for employees and suppliers/merchants,with 27 offline in-house training sessions for employees and 23 online training sessions for suppliers/merchants provided throughout the year.It also sent 38 special publications on com

118、pliance culture to the Compliance Committee,operation personnel,business personnel and information security personnel to boost the compliance awareness of key personnel and strengthen the line of defense against compliance.Promoting company-wide participation:The Company launched a campaign called C

119、ompliance Hole-Picking,under which employees could send emails to the Compliance Department to report issues they discovered in their daily work that may cause compliance risks in the Companys business,or propose measures for improving the Companys compliance governance.During the campaign,a total o

120、f 113 issues or proposals were received,covering subjects ranging from products and promotional activities to supplier management and data security.The campaign created an atmosphere of participation by all,and rectification measures were taken on all the reported compliance issues.1 This award is j

121、ointly initiated and organized by the Judicial Research Society of the Shanghai Law Society,the Case Law Research Society of the Shanghai Law Society,the Criminal Justice College of the East China University of Political Science and Law,and the Institute of Anti-Corruption and Compliance for Interne

122、t Enterprises of the East China University of Political Science and Law,with the aim of creating more replicable and scalable practical experience and fostering a clean and compliant ecosystem.on its intranet,where employees can check the Companys integrity rules,report misconducts or make integrity

123、 declarations,and learn about integrity knowledge and typical cases inside and outside the Company.In 2023,Vipshop did not incur any fines or lawsuits due to unfair competition,money laundering,insider trading or conflict of interest.09About VipshopV-EcologyV-TalentV-CharityAppendixesV-Development20

124、23 Key Results:OverviewAbout This ReportChairmans MessageStrengthening risk management The Company has formulated the Vipshop Group Risk Management System,with clear provisions on the organization and responsibilities for risk management.It creates a risk control format and organizational system tha

125、t is suited to the business characteristics and development stage of the Company,and ensures that all critical risks faced by the Company during its business activities are fully identified and appropriately controlled,in order to achieve stable development.Risk management systemThe Company has esta

126、blished a three-tier organizational structure for risk management consisting of the Board of Directors,the Audit Committee and the Internal Audit Department:The Internal Audit Department is a first-tier department independent from other business departments and reports directly to the Audit Committe

127、e.In addition,the Audit Committee is comprised of three independent Board members,ensuring that risk management and the lines of business remain independent.Other departments,which together make up the first line of defense in risk management,are primary responsible for assisting the Internal Audit

128、Department in collecting and providing risk information within their scope of responsibilities and integrating risk management into the business management process.For example,when the Company is developing its APP products,the business departments need to take into account the risk factors in order

129、 to avoid all types of risks.Vipshops highest-level staff responsible for risk management at the operational level is Chief Operating Officer Arthur Xiaobo Hong,who reports directly to the Chairman of the Board;the highest-level individual responsible for monitoring and reviewing risk management per

130、formance at the operational level is Chairman of the Audit Committee Kathleen Chien,who reports directly to the Board.The Company has included some of the risk management indicators,such as corruption cases and information security and privacy incidents,into the performance appraisal of senior execu

131、tives,department directors and other management staff,with impact on appraisal results linked to factors such as the magnitude and nature of risks and level of responsibility,so as to encourage the relevant individuals to monitor the effective implementation of all risk management measures.The Board

132、 of Directors is the highest leadership and decision-making body for risk management,and is responsible to the shareholders meeting for the effectiveness of risk management.The Audit Committee is responsible to the Board of Directors,and in terms of risk management,is primarily responsible for appro

133、ving the annual work plan submitted by the Internal Audit Department and reviewing the annual risk management report.The Internal Audit Department is primarily responsible for assisting the Audit Committee to establish and improve the risk management system,including but not limited to establishing

134、and maintaining the risk management system,organizing and conducting annual risk assessment,and promoting the risk culture.Risk auditingRisk monitoring indicatorsInternal process for risk reportingThe Internal Audit Department identifies the areas where auditing is needed based on factors such as th

135、e Companys business processes,the industry in which the Company operates,and the external environment,and formulates auditing plans for each risk area to promote internal and external risk auditing.Since its listing,the Company has undertook an Internal Controls audit in line with Sarbanes-Oxley Act

136、(SOX)404 to assess the risks associated with financial reporting,and commissioned a third-party agency to conduct an external audit covering all operating entities of the Group.The Company actively explores the use of technology to enhance risk management and constructs the matrix of risk monitoring

137、 indicators based on massive data analysis and feature identification.As of December 2023,the Company had established 13 risk monitoring indicators in areas such as merchandising,logistics and transportation,marketing and promotion,and designated special staff to monitor indicator anomalies,thus ens

138、uring timely discovery and handling of risks in the process and system.If employees discover any risk during their day-to-day work,they can contact the Internal Audit Department at any time via the Weimi IM service,email,phone or face-to-face.The Internal Audit Department will then evaluate the risk

139、s,and activate risk prevention measures in light of the probability and potential impact of the risks,including assisting with process construction,filling the gap in the control system and executing the auditing project,in order to avoid or minimize losses to the Company.Risk evaluationIn 2023,the

140、Company pushed forward the construction of the risk database,established a risk control list through risk interviews,document review,questionnaires and other means,and promoted risk assessment and analysis,covering both financial and non-financial risks such as fiscal risks,strategic risks,market ri

141、sks,operational risks and legal compliance risks.The Company also conducted scenario and sensitivity analysis with regard to specific risks to assess the probability and potential impact of the risks,and put them into categories of high,medium and low risk based on their risk levels.In addition,afte

142、r evaluating the risks,the Company adopted mitigation measures and developed plans for prioritizing risk management to gradually bring down the risks.The Company assesses risk exposures at least once a year,and more frequently if there is such need.010About VipshopV-EcologyV-TalentV-CharityAppendixe

143、sV-Development2023 Key Results:OverviewAbout This ReportChairmans MessageIn 2022,Vipshop established the ESG Committee,completing the construction of a three-tiered system for sustainable development governance,consisting of the Board of Directors,the ESG Committee and the ESG Task Forces.The ESG Co

144、mmittee meets once or twice every quarter to evaluate,supervise and promote the Companys ESG initiatives,in order to ensure the smooth progress of ESG-related work and create sustainable values for stakeholders.In 2023,the Company issued the Vipshop Decision-Making and Review Mechanism for ESG Impor

145、tant Systems and Major Issues,clarifying the process and responsible persons to ensure the orderliness,standardization and professionalism of the formulation and review of relevant contents,and promote the delivery of ESG objectives.The progress and improvement of Vipshops ESG work was well-recogniz

146、ed by several external ESG rating agencies in 2023.Specifically,the Company got the AA rating in MSCI-ESG,joining the ranks of industry leaders;and ranked in the 95th percentile of the industry in the Dow Jones Sustainability Index(DJSI)rating.In addition,we provide different types of employees with

147、 tailored ESG training contents to enhance their ESG awareness and competence.MembershipMembers of the BoardEvaluating and monitoring ESG strategies and targetsBoard of DirectorsChaired by the Companys Chairman and CEO,with the COO and one independent director as membersDefining ESG strategy,targets

148、 and action plans;reviewing and evaluating proposals put forward by the ESG Task Forces;mobilizing resources required to advance ESG initiativesESG CommitteeHeaded by the top executives of the Companys compliance,legal,business centers,operation center,CSR and other functional and business departmen

149、ts,with key personnel of the relevant departments as membersSubmitting proposals to the ESG Committee and undertaking ESG-related workESG Task ForcesResponsibilitiesSustainable development managementESG governance and capacity buildingTo members of the ESG Committee,we invite internal and external e

150、xperts to provide training on topics such as the latest trends in the ESG industry,Vipshops capital market rating and enhancement plan,ecological protection and corporate participation in China,measures to promote DEI issues1 and advanced corporate practices,in order to enhance their ESG-related bac

151、kground knowledge and professional competence.To some of the key personnel,we provide them with training on topics such as corporate carbon accounting,carbon trading and carbon assets,DEI issues and disability integration,in order to enhance their ESG competence and promote the implementation of rel

152、ated issues.To all employees,we provide training courses such as ESG background knowledge and statistical calculation of personal carbon account,in order to improve their understanding of ESG and encourage their participation in the ESG program.At the same time,the ESG Newswire journal is published

153、every month,which helps all employees understand the latest trends of ESG and the specific work of the Company in ESG from three directions:ESG highlight cases,ESG vision focus,and ESG practice overview.MSCI ESG RATINGSAACCCBBBBBBAAAAAA1 DEI stands for diversity,equity and inclusion.011About Vipshop

154、V-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout This ReportChairmans MessageUniting brands to provide consumers with higher quality and more sustainable product choicesUpholding responsible procurement principles,proactively selecting suppliers with superior ESG perfo

155、rmance and,promoting healthy development of the supply chainUniting packaging suppliers to increase the usage of sustainable packaging materials,and provide consumers with sustainable packagingConstructing a good governance system,and acting as compliant,disciplined corporate citizensNew sustainable

156、 choicesHappy consumptionBeautiful societyProactive inclusivityDependable complianceVipshop has defined its ESG strategy,setting the target of co-creation of a new sustainable life,and exploring a pathway of sustainable development established around the five core areas of:New Sustainable Choices,Ha

157、ppy Consumption,Proactive Inclusivity,Beautiful Society and Dependable Compliance.Vipshop(V)aspires to bring together stakeholders including brands,consumers,employees,communities,and partners to create a platform for sustainable living(We),working with all parties to design,explore and create a new

158、 sustainable life.ESG Development strategyCreating a platform for sustainable consumption,innovating new sustainable choices with the value chainSustainable product choicesSustainable packaging choicesSustainable supply chain choicesDeveloping climate action and,tracking of climate risk and opportun

159、ities;defining targets for carbon neutrality,and pledging to achieve carbon-neutral in its own operations no later than 2030,encouraging the value chain to reduce emissions and creating a low-carbon societyClimate change and carbon neutralityCreating an eco-friendly platform,advocating the preservat

160、ion of forests and wild animals,to create an ecological society Focusing on womens charities,to empower womens growth,and contribute to an equal societyPromoting digital philanthropy and helping disadvantaged groups integrate with digital life,to create an integrated societyCreating an environment o

161、f responsible consumption,encouraging consumers to be sustainable while ensuring the source of products and the accuracy of information providedResponsible consumptionCreating an environment of safe consumption,protecting consumer privacy and information security through technology optimization and

162、management improvementSafe consumptionCreating an environment of hassle-free consumption,increasing the friendliness of the platform,while improving the quality of customer service and resolving customers problems in a timely manner,providing more friendly experience to seniors,those with disabiliti

163、es and other disadvantaged groupsHassle-free consumptionCreating a liberal,inclusive,diverse working environment and,listening to and respecting the opinions of employees from all backgrounds to increase employees sense of identityAn inclusive workplaceFostering gender equality at work,providing lea

164、dership training for women and,increasing female representation at all employment levelsGender equality at workCreating a development platform to meet employees needs,strengthening the foundations of the training system,and supporting junior employees growthEmployee development platformCreating a co

165、mpliant platform to ensure employees health and safety,and providing them with the conditions to work safelyHealth and safety platformEstablishing an ESG governance system and ensuring the effective implementation of the ESG strategyESG governance monitoring systemIncorporating ESG risk into the Gro

166、ups risk management system,ensuring ESG management complianceESG risk management systemLeveraging the online sales platforms advantages and harnessing the culture of rural revitalization to create a mutually prosperous societyEco-friendlyFemale friendlyDigital integrationRural revitalizationCreating

167、 a platform for inclusive development,establishing a mutually inclusive workplace with employeesCreating a platform for happy consumption,creating a new experience with and for consumersCreating an environmentally and societally friendly platform,developing a beautiful society for all012About Vipsho

168、pV-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout This ReportChairmans MessageStakeholdersGovernment and supervisory agenciesCustomersEmployeesPrimary concernsResponse measures adopted in 2023Compliance in operationPaying taxes in accordance with the lawTraining and de

169、velopmentLegal rights and interestsOccupational health and safetyCompensation and benefitsEquality and diversityProduct qualityPrivacy and data protectionService experience100%employee coverage of anti-corruption trainingIn 2023,first-time settlement rate in the call center and online channels respe

170、ctively rose by 2.6%and 2.3%from the 2022 levelInvestorsCorporate governanceRisk managementReturn on investmentESG performanceAnnual report,quarterly report and other announcementsAnnual General MeetingIndustry and investor conferences and non-trading roadshows Communication with investors through e

171、mails and online and offline meetings Held 1 Annual General Meetingorganized hundreds of online and offline investor communication sessionsMeans of communicationGovernment-business roundtableInformation bulletinOnline and offline platformsComplaint hotlineMarket researchCustomer satisfaction surveyP

172、artnersAccumulate total number of partner brands exceeded 46,000Supply chain managemenCooperation in good faithMutual benefitsEstablishment of cooperation systemSupplier trainingSupplier contracts and agreementsEnvironment and communityTackling climate changeBiodiversityGreen packagingEnvironmental

173、stewardshipSocial welfareRural revitalizationCommitted to making its own operations carbon neutrality no later than 2030,and achieve a 50%reduction in the intensity of scope 3 emissions no later than 2030Total investment in public welfare reached RMB 719 million as of the end of 2023Participation in

174、 community projectsSocial welfare programsPublic awareness campaignsMedia and Non-governmental Organizations(NGOs)Information disclosureContribution to NGOsInteraction with mediaImpact on sustainable developmentRegular publication of financial and ESG reportsMedia conferencesInformation disclosure F

175、ace-to-face with VipshopDawn Light mailbox360 ManagementCEO online mailboxEmployee forums and online communities48.3%female employees100%employee coverage of training programs 6,847 training sessions on occupational health and safety,totaling 203,814 person-timesStakeholder EngagementVipshop values

176、communication and cooperation with all corporate stakeholders,and conducts effective and timely communication with stakeholders through multiple forms,which has guaranteed stakeholders right to information and right to participate and improved their understanding and recognition of the Company.We al

177、so take concrete steps to strengthen cooperation with stakeholders and jointly promote the Companys development.013About VipshopV-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout This ReportChairmans MessageMaterial issues analysisVipshop conducts research and analysis o

178、f material issues once a year,and solicits opinions and suggestions from various stakeholders,including shareholders,government,employees and customers,to identify material ESG issues.These issues are then tracked and addressed on a sustained basis and highlighted in the disclosure of the annual rep

179、ort.1.002.003.004.005.000.001.002.003.004.005.00Vipshop integrates national regulatory policies,GRI Standards,capital market ESG evaluation indicators,the Company strategic planning,and leading industry figures key issues of concern in a five-pronged,multi-dimensional approach that identifies and or

180、ganizes each years key issues,and adds them to the topic library.Importance to Vipshops DevelopmentEstablishment of an ESG topic libraryVipshop collates and organizes the opinions of various stakeholders on the Companys sustainable development,including those of government and monitoring institution

181、s,shareholders and investors,employees,customers,partners,media and society,and NGOs,to help ascertain which of the various ESG issues are most important.Stakeholder communicationVipshop analyzes and draws statistics from survey results in accordance with substantive procedures,arranges topics in or

182、der of importance to stakeholders and business development,and constructs a topic importance chart.Vipshops management and external specialists also review and evaluate the results of the issue selection process.Analysis of issues importanceVipshop specifies and steadily carries out a relevant actio

183、n plan for each of the material topics that emerge and emphasizes the disclosure of the results in the Companys reports.Responses and disclosure of topics1 12 23 34 4Green consumption55Compliant employment66Biodiversity2Privacy and data security1414Green packaging33Consumer services1111Responsible m

184、arketing121288Occupational health and safety99Product quality1010Environmental management44Social welfare1717Intellectual property protection1818Supply chain management1515Rural revitalization16167Tackling climate change1Digital technology innovation1313Risk management202021Corporate governance21191

185、9Compliant operation Employee compensation,benefits and development7A culture of diversity,equality and inclusionImportance to Stakeholders21014V-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout VipshopAbout This ReportChairmans MessageV-DevelopmentPillars of the ESG str

186、ategyProgress of the ESG strategyCreating a platform for happy consumption,creating a new experience with and for consumersCreating a platform for sustainable consumption,innovating new sustainable choices with the value chain Improving platform governance,strengthening control on product quality,an

187、d raising the level of services to provide consumers with a responsible,safe and hassle-free consumption experienceEmbedding the ESG concept into supplier management,and promoting a packaged program to build a sustainable supply chainResponsible consumptionResponsible consumptionSafe consumptionSafe

188、 consumptionHassle-free consumptionHassle-free consumptionSustainable supply chain choicesSustainable supply chain choicesCreating an environment of responsible consumption,encouraging consumers to be sustainable while ensuring the source of products and the accuracy of information providedThe Compa

189、ny issued the Vipshops Undertakings in Accountable Sales and Marketing to strengthen compliance governance of the platform,and established strategic cooperative relationship with China Certification&Inspection Group to strengthen guarantee of product qualityCreating an environment of safe consumptio

190、n,protecting consumer privacy and information security through technology optimization and management improvement0 information security vulnerabilities or other cybersecurity incidents occurredCreating an environment of hassle-free consumption,increasing the friendliness of the platform,while improv

191、ing the quality of customer service and resolving customers problems in a timely manner,providing more friendly experience to seniors,those with disabilities and other disadvantaged groups99.19%of customer problems resolved within 72 hoursUpholding responsible procurement principles,proactively sele

192、cting suppliers with superior ESG performance and,promoting healthy development of the supply chainVipshop incorporates ESG performance into the supplier selection and evaluation process,with preference given to suppliers with better ESG performance015V-EcologyV-TalentV-CharityAppendixesV-Developmen

193、t2023 Key Results:OverviewAbout VipshopAbout This ReportChairmans MessageProduct quality control Quality inspection of new brandsStandardized monitoringInspection of received goods and on-site inspection Targeted inspectionsOnline quality inspectionFollowing a consumer-centered approach,we have esta

194、blished a product authenticity guarantee system with full-process traceability through rigorous brand review and quality inspection to protect the rights and interests of consumers.Vipshop reviews the compatibility between the target brand and Vipshop from the user s point of view,taking into accoun

195、t factors such as consumer preference for the brand,quality of its products,and positive and negative news about the brand,and decides whether to include the brand into the platform only after all necessary reviews are completed.The Company has established a rigorous quality inspection system,coveri

196、ng the whole process from the selection and launch of products to daily supervision,in order to ensure compliance with the quality standards and guarantee product quality.In terms of the control on food safety and quality,the Company has introduced control measures covering aspects including food pr

197、ocurement,storage,sales and traceability,and passed the ISO 22000 certification on food safety management.In the meantime,the Company conducts food traceability&recall drills on a regular basis to strengthen protection of food safety.During the approval process,a third-party quality inspection compa

198、ny is invited to inspect the brands products and projects,including,but not limited to,product packaging,labelling,external appearance,safety,functionality,and performance,to assure the product meets Vipshops purchasing standards.In accordance with product quality risk and consumer complaints,Vipsho

199、p carries out sampling of product quality to ascertain whether standards are being met.If a suppliers product is found to be sub-standard,they shall enter a six-month period of intensive monitoring during which Vipshop will carry out another 1 to 6 sample inspections of the suppliers products and th

200、en take corrective measures,offline measures or non-cooperation,based on the results of the sample inspections.To ensure product quality,products shipped through Vipshops national logistics center will be checked for their brands and styles before being put into the warehouse.For products shipped di

201、rectly from suppliers,a special inspection team will be sent to check the quality of products on site.In addition,they will also supervise and facilitate the optimization of the supplier s warehouse management system and product return process.In collaboration with third-party quality inspection par

202、tners,Vipshop works with brands who fail the received goods inspection,on-site inspection,monthly quality assessment or receive customer complaints,by developing critical,targeted tests to ensure that the product passes before being sold on Vipshops platform again.Before a product goes online,the su

203、ppliers credentials are reviewed and they are asked to upload product inspection reports;once online,Vipshop works with an authorized third party who anonymously purchases the products,carries out random inspections of internal quality and,undertakes laboratory testing of the physical and chemical c

204、haracteristics of the product in accordance with national standards.If any substandard products are discovered,the selling of all related product variants is immediately suspended,and if the problem is deemed serious,the brand will be taken offline,and a decision will be taken,in accordance with the

205、 seriousness of the problem,whether to continue working with the brand in question.Vipshop is focused on implementing the merchandising strategy and cooperating with quality brands.By working with brands to strengthen the supply chain,Vipshop has secured the supply of high quality products at great

206、value,providing consumers with the best value-for-money products.Providing high-quality products Improvement through simulationVipshop simulates customers to test the purchasing experience,and if any issues are encountered,Vipshop provides the supplier with resolution strategies to help optimize the

207、 customers experience.Warning light systemThis system has been designed so that if a product receives more than a specified number of negative reviews within a designated time period,the brand will be strictly dealt with.Brand selection review Quality review system016V-EcologyV-TalentV-CharityAppend

208、ixesV-Development2023 Key Results:OverviewAbout VipshopAbout This ReportChairmans MessageEvery year,the Company organizes training on product quality and supplier conduct to raise suppliers awareness of product quality.In 2023,we provided training on exception handling process and performance manage

209、ment rules to JIT and JITX merchants,and training on customer service requirements and related rules to MP merchants.1Vipshop carries out annual supplier assessments from multiple perspectives such as customer return rates and customer satisfaction ratings and provides each supplier with feedback.Ea

210、ch supplier can make improvements in accordance with the assessment results and the quality of their products.The above-mentioned monitoring applies to private-label brands.If serious issues emerge or the number of substandard products found by quality control during a given period exceeds standards

211、,termination of the brand agreement will be initiated.For third-party merchants,a points system is used,and if total deductions reach 100 points,termination of the brand agreement will be initiated.Brand training and empowerment Quality auditing Termination of brand agreementsIn October 2023,Vipshop

212、 entered into strategic cooperation with China Certification&Inspection Group(CCIC)South China,under which the two sides will deepen cooperation in quality inspection,traceability,quality certification and other aspects.CCICs expertise in quality inspection and testing will provide a useful suppleme

213、nt to Vipshops quality control system,which is like an additional line of defense outside the quality assurance system of Vipshops own supply chain,so that consumers will feel more assured and more at ease when buying products(especially high-value products)on the platform.Strategic cooperation with

214、 CCIC strengthens guarantee of product authenticityCase1 JIT and JITX are both Vipshops self-operated merchants,of which JIT merchants shipments need to go through Vipshops warehouses,while JITX merchants can ship directly to their customers;MP refers to open platform merchants(third-party merchants

215、).017V-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout VipshopAbout This ReportChairmans MessageFocusing on the strategy of buyer-made quality goods,the Company has cultivated a buyers team consisting of over 1,100 professional buyers from around the world,and set up of

216、fices in the UK,the US,Italy,France,Germany,Japan,the ROK,Singapore,Hong Kong(China)and other countries and regions.With its professional training and mature operation system and based on its insight of the industry and fashion trends,the Companys buyer team has been able to pick the most premium gl

217、obal brands and find the best value-for-money products to meet the diversified and personalized consumer demands for high-quality products.During the 6th China International Import Expo,the Company organized an event called Standing by Buyers,under which the buyers in the pavilion and overseas buyer

218、s had face-to-face and virtual dialogue with the consumers to answer their questions about purchase and quality control.Vipshop cooperates with leading brands on product customization to provide users with unique products at compelling prices.For example,during the Spring Festival of 2023,over 10 co

219、smetic brands,including Clarins,Winona and Chando,cooperated with Vipshops IP image V-Rabbit for the first time to launch co-branded custom sets and special product series.In order to meet diversified consumer demands,Vipshop has introduced a greater variety of trendy and international higher-end br

220、and products,advanced cooperation with leading brands,and fully capitalized on the resources of its global buyer system to increase the offering of products and brands and create a differentiated product supply system.Cultivating the global buyers teamProviding customized products of partner brandsD

221、ifferentiated product supplyintroduced throughout the yearMore than participated in Made-for-Vipshop customized products throughout the year1,7861,100189 new brands suppliersglobal buyersbrandsVipshop at the 6th China International Import Expo018V-EcologyV-TalentV-CharityAppendixesV-Development2023

222、Key Results:OverviewAbout VipshopAbout This ReportChairmans MessageBased on consumer trend insights,brand market conditions and other information,Vipshop continues to work with brands in refining their business scenes and growing their brands to boost the revenue of merchants.Deepening cooperation w

223、ith brandsWhile selecting goods,the Company seeks to construct more diversified and refined consumption scenes from the users point of view,and strengthen the content display in the special channels such as Super Brand Day,Super Category Day,Fengqiang,Kuaiqiang,Super Sale Day and Little Pink Box.For

224、 example,the camping theme of the Super Sale Day channel and the OOTD posts on the New Trend channel have both pushed up sales in the related categories.At the same time,we have opened new channels such as Vipshop Outlets,Vipshop Night Market and Fashion Intelligence Bureau,and cultivated an ecosyst

225、em of high-quality contents to give our users a fresh taste and stimulate their shopping interest.The Company continues to promote the membership connect project and upgrades the brand membership operation and management system,connecting its own membership system with the membership system of brand

226、 merchants,to support targeted brand operation.We also provide members with multiple privileges,including exclusive member coupons,member bonus,and in-store service reservations,in order to create a differentiated membership experience.Enriching consumption scenesConnecting the membership systemsIn

227、2023,Vipshop deepened its cooperation with Bosideng in line with the strategy of providing satisfactory customer services,delivering customized goods,and selling at good prices,and made continuous progress in areas such as goods supply,product customization,user operation and category structure,secu

228、ring a double-digit year-on-year growth in total merchandise trade on the Vipshop channel.In terms of goods supply,the two sides connected 600 brand stores in 2023,with the value of goods increasing by more than 35%year-on-year;in terms of user operation,the increased investment in the supply and ma

229、rketing of celebrity styles/designer co-branding products has captured the attention of Super VIP members,high-value users,and young members.By aligning with channels of high exposure such as Super Brand Day and Todays Top Brands,Bosideng has established a more direct and frequent means of communica

230、tion with platform users.In 2023,Bosideng kept breaking sales record during the Super Brand Day and Todays Top Brands,and reached a historic high in single-day sales during the Super Brand Day on December 23 on the Vipshop channel,recording RMB 139 million of sales in 24 hours,up by 114%from the pre

231、vious year,and leading the sales ranking of the Super Brand Day 2023.Helping Bosideng break the single-day sales record Case019V-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout VipshopAbout This ReportChairmans Message Communicating with customers Customer complaint man

232、agementOptimizing the channels for customer feedbackStrengthening the listening groupsThe Company has established multiple channels for customer communication including online customer service,call center,official website and in-store customer center.Our professional customer service team provides t

233、imely and effective solutions to customers problems.Vipshop listens to the voice of customers with its heart.We have put in place a multi-channel communication system and optimized the complaint handling mechanism to ensure timely response to customer feedback,and continuously improved the quality o

234、f customer services to deliver a better and more comfortable shopping experience for customers.The Company has set up convenient access to services in procedures such as product purchase,payment,logistics and transportation,and after-sales service,and established an efficient information feedback ch

235、annel and an effective response handling mechanism to ensure the timely collection,response and processing of customers opinions.On May 20,2023,the Company organized the 520 Your Voice event,which was held for the 10th consecutive year.Hundreds of management staff visited customers homes in groups t

236、o listen to their voices and,based on the feelings and demands they shared,further improved the customer service mechanism and process,and enhanced the quality of services.At the same time,the Company continued to optimize the Your Voice program for specific categories,and,based on customer feedback

237、,the responsible departments explored better ways to quickly locate and resolve problems.In 2023,the Your Voice program proposed and implemented a total of 148 improvements,covering subjects such as caring for the elderly,intelligent size recommendation and high-value goods identification,delivering

238、 the Customers First commitment with concrete actions.Acting on the customer-first business philosophy,Vipshop continues to optimize the process of customer services,listens to the voice of customers,and strives to provide customers with a high-quality service experience.The Company has established

239、a process to handle customer problems in all scenarios and a strict time limit for complaint handling,and regularly conducts service and process-related training to ensure timely response and handling of customer feedback.In the meantime,the Company has put in place a crisis monitoring system and se

240、t up risk monitoring boards to provide early warning of potential risks and improve the efficiency of customer complaint handling.The customer complaint handling mechanism of Shan Shan Outlets has adopted the basic principles of quick response,advance compensation and flexible handling.It tracks and

241、 handles customer complaints through channels including store hotlines,online customer service and consumer service stations,and makes return visits to customers,with the aim of achieving 100%for complaint handling.At the same time,the results of complaint handling are linked to the annual performan

242、ce appraisal of the personnel in charge to provide employees with an incentive to improve service quality.Improving the quality of servicesListening to our customersof customer problems resolved within 72 hours99.19%In December 2023,Vipshop was awarded the Craftsmanship Service Award by Peoples Dail

243、y Online Customer crisis handlingThe Company has established a mechanism for the referral of crisis claims with specific procedures for handling customer complaints under different scenarios,which enables the customer service team to quickly identify problematic scenarios and work with other departm

244、ents to deal with complaints and address customer demands in a speedy and compliant manner.Under the mechanism,we have added a senior expert unit to the customer service team.Once our customer service specialists identify any high-risk scenario,they will directly transfer the case to the senior expe

245、rt unit,and a complaint handling specialist from the unit will give opinions or directly take over the case.This arrangement has enabled us to improve customer satisfaction.At the same time,we regularly communicate with the market supervision and administrative departments of various provinces and c

246、ities on issues such as difficult cases,new standards and norms in the industry,and share the relevant content with the customer service team so that they could act more professionally in handling customer complaints.In addition,we have set up a mechanism for handling special complaints.With the goa

247、l of eliminating the worries of customers,we are ready to provide flexible solutions to meet the most urgent needs of our customers.For example,if a customer is disabled and needs assistance in adjusting the delivery mode,or if a customer needs to buy a particular product that is not yet on the shel

248、f,we will activate the green channel,mobilize all available resources and do everything we can to help customers overcome the difficulties.020V-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout VipshopAbout This ReportChairmans MessageFocusing on the goal of upgrading use

249、r experience,the Company has improved its internal service system and closely followed the trend of industry services with the aim of providing more professional and standardized high-quality services to customers.Optimizing service experienceWe have optimized the Quality Inspection Standards of the

250、 Customer Service Center,further improving the service guidelines and quality standards of customer service.In the meantime,we have harmonized the service standards,service procedures,service quality standards and system support with the customer service teams of our suppliers and merchants to ensur

251、e the uniformity of customer services.For complicated customer complaints,third-party collaboration will be promptly activated to ensure speedy resolution of customer problems.Delivering more standardized services1 1In categories such as cosmetics,home appliances and 3C,we have put in place professi

252、onal customer service teams to give timely response to customers technical questions.In 2023,more than 20 million inquiry services were provided.We have taken steps to increase the percentage of first-time resolutions of customer service in six areas,including capacity building,process optimization

253、and business optimization.In 2023,the first-time resolution rate of the telephone and online channels rose by 2.6%and 2.3%respectively over the 2022 level.We provide customers with a service product called Buying at Ease.In addition to the basic service of 7-day unconditional return and exchange,cus

254、tomers who choose this product can enjoy a service package including 10-day price guarantee,instant refund,door-to-door return and exchange,compensation for damaged goods and 15-day quality guarantee.The service now covers most of the products directly sold by Vipshop on the platform.We have designe

255、d special user interfaces for seniors and customers with visual and mobility impairment,and provide them with door-to-door delivery.We conduct in-depth analysis of the difficulties customers face in the whole shopping process,and actively explore solutions based on AI intervention to address the pai

256、n points in the service chain.Throughout the year,we launched 18 active service scenarios,and guided customers to authorize order access and modify shopping information.By altering the traditional approach of passively waiting for customer feedback,such a practice has frontloaded the resolution of c

257、ustomer problems and improved the rate of customer satisfaction.Strengthening category-specific customer servicesImproving the first-time resolution rate1Optimizing service productsDifferentiated service upgradeAI-empowered services3 37 74 45 56 6We push our customer service team to build up capacit

258、y through such means as cultivating and promoting model service teams,conducting quantified management of customer service quality through the performance appraisal mechanism,and inviting professional trainers from the industry to be our trainers.In 2023,our employees of Customer Service Center part

259、icipated in the Information and Communication Service Vocational Skills Competition in Guangdong Province,and won the second prize in the group competition of the software and information technology service category.Through the construction of a multi-tiered membership system,we consistently provide

260、 our Super VIP members with deep discounts,and a rich variety of member privileges and value-added services,so as to create a differentiated member experience.In 2023,we cooperated with major brands to expand the privileges of Super VIP members,including coupon packages of KFC,Pizza Hut and Dingdong

261、 Maicai,and launched a RMB 99 package for a new Super VIP annual card plus selected gifts.All the gifts are valued above RMB 99,which further increases the value of Super VIP membership.In the meantime,we provided the option of Buy 1 Get More for the joint membership of Tencent Video and Bilibili to

262、 meet the diversified demands of our members.Enhancing the service capability of the customer service teamEnriching the Super VIP service2 28 81 First-time resolution rate is the percentage of customer problems solved in the first contact with customer service.021V-EcologyV-TalentV-CharityAppendixes

263、V-Development2023 Key Results:OverviewAbout VipshopAbout This ReportChairmans MessageConducting responsible marketingVipshop runs its business in a manner that is consistent with laws and regulations,responsible business ethics and the concept of sustainable development,and makes sure that its marke

264、ting activities contain only legal,honest and truthful contents.In 2023,the Company issued the Vipshops Undertakings in Accountable Sales and Marketing,encouraging partners and other stakeholders to abide by the relevant commitments,practice responsible marketing,and jointly foster an ecosystem of f

265、air,safe and responsible consumption.For elderly consumers aged 60 and above,in addition to our seniors service specialists,we further improved the layout of the Vipshop APP for them in 2023.For example,modules that are more relevant to seniors,such as health care and wellness support products,are n

266、ow displayed on the homepage so that they could find the products they need more quickly and with greater convenience.In addition,we conducted a brand awareness survey on the theme of sustainability,which included whether the sustainability of the platform would affect consumers shopping decisions,V

267、ipshops overall performance of sustainability,and Vipshops best performing ESG aspect,in order to learn about customers knowledge of Vipshops sustainable performance and their recommendations for improvement.According to the results of the survey,11%of the customers will consider the platforms susta

268、inability when making shopping decisions.Our goal is to enhance customers knowledge of Vipshops sustainable performance in the next three years,so that when asked about the question of from a sustainability perspective,which of the following brands do you think is doing the best job,the number of cu

269、stomers who choose Vipshop will increase by 20%compared to the base year.022V-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout VipshopAbout This ReportChairmans MessageInformation security and privacy protection management systemThe Company has formulated a series of pol

270、icies and systems,such as the Information Security and Privacy Management Handbook and the Management Measures for Risk Assessment of Information Security and Privacy Protection,covering all the products and services on Vipshops website,APP and mini-programs,as well as all stakeholders including emp

271、loyees,suppliers and partners,to firm up the foundation of management system.Meanwhile,the Company reviews its internal policies and systems on information security and privacy protection whenever appropriate in light of the changes in external laws and regulations,regulatory policies,standards and

272、norms,as well as the Companys business development,so as to ensure the appropriateness,adequacy and effectiveness of the content of the information security and privacy policies.Once the relevant policies and systems are updated,all employees will be notified in time through the internal process,and

273、 they can learn about the updates through the portal website on systems and protocols.The Company has established the Information Security and Privacy Protection Committee,chaired by Board Chairman Eric Ya Shen,to manage and supervise work related to information security and privacy protection.Its m

274、embers include Arthur Xiaobo Hong and senior executives at the vice-president level,as well as heads of other relevant departments.The Company has appointed Yang Wenfeng,with his background in security and technology,to represent the management of information security and privacy protection(as Chief

275、 Security Officer).He is responsible for the overall coordination and implementation of information security and privacy protection work within the organization,and takes direct responsibility for information security and privacy protection.The Company has appointed information security contact pers

276、ons in all the first-tier and second-tier departments to assist in the work related to information security,such as promptly reporting information security incidents,following up on the rectification of security problems in their department,and organizing employee participation in information securi

277、ty training,in order to ensure employees compliance with the internal information security system and timely reporting and disposal of security problems,and strengthen the first line of defense for information security.The Company has defined its Information Security Rewards and Punishments Guidelin

278、es,with clear operational principles and requirements for information security rewards and penalties for acts of violation.It has also made clear that the information security credit will be used as a quantitative indicator for assessing employees information security performance,and included in emp

279、loyees overall performance assessment.In parallel with this,the Vipshops Management Red Lines clearly states that employees who engage in the stealing,leaking,selling or use of the Companys confidential information or jeopardize the Companys network security or conceal problems and obliterate eviden

280、ce during the investigation of information security cases will be dismissed upon discovery of the violations.There are two types of security rewards,i.e.individual awards and project awards,which are divided into three sub-levels from highest to lowest(I,II and III)based on the amount of contributio

281、n,and with clear reward standards;in light of the nature and severity of the circumstances,violations are divided into four sub-levels from highest to lowest(I,II,III and IV),with clear descriptions of the facts of violations(such as stealing other peoples accounts and passwords)and the joint respon

282、sibility of the manager.In the digital age,protecting the information security and privacy of customers is a key foundation for companies to provide services.Putting the interests of customers first,Vipshop is making consistent efforts to improve the information security and privacy protection manag

283、ement system,and advancing the relevant measures to create a safe and friendly cyber-environment.Protecting information security and privacy Policy system Organizational governance Capacity enhancement Performance assessment and incentivesTraining internal auditors for the personal privacy managemen

284、t systemCarrying out information security and privacy protection training and education programsSince 2022,the Company has been running an internal auditor certification program,inviting employees to participate,on a voluntary basis,in the training and examination of the ISO 27001 Information Securi

285、ty Management System(ISMS)and ISO 27701 Privacy Information Management System.The program helps employees learn about the requirements in various aspects of information security and personal privacy protection and gain professional knowledge on information security.In 2023,a total of 194 employees w

286、ere enrolled in the program,and 31 of them were awarded internal auditor certificates by Det Norske Veritas(DNV),a professional third-party agency.The Company adopted the Measures for the Management of Information Security and Privacy Protection Training and Examination,making it clear that all the

287、Companys staff,including,but not limited to,regular employees,interns,and third-party employees must receive training and education on information security and privacy protection every year,and information security awareness education and training has been designated as a mandatory course for all em

288、ployees and a key performance indicator for new employees.Each year,the Company organizes information security week activities,and in 2023,it conducted a tour of information security and a science education campaign called Security Yes or No,which highlighted security risks with the illustration of

289、real cases to deepen employees understanding of information security and privacy protection.For third-party partners,the Companys the Third-Party Information Security and Privacy Management Measures stipulates that third-party companies and personnel shall comply with Vipshops information security r

290、equirements and operational protocols and receive training on information security,and Vipshop is responsible for reviewing and supervising the implementation of the relevant policies.For example,the Company organized information security training for merchants to improve their awareness of informat

291、ion security from the aspects of authority management,data security and network security,etc.At the same time,the Company carried out data security audit of the partner to review their compliance with national information security laws and regulations and Vipshops information security system in term

292、s of the establishment of the partners system,data collection and processing procedures,and data access control.Awarded ISO 27001 Information Security Management System(ISMS)and ISO 27701 Privacy Information Management System certificationInformation security or network security incidents recorded d

293、uring the reporting yearTotal amount of fines incurred as a result of information security loopholes or network security incidents during the reporting year00023V-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout VipshopAbout This ReportChairmans MessageDefending informat

294、ion securityWe have embedded information security and privacy protection measures into the process of product and service development,and promoted security technology transformation on the operator side and the merchant side.For example,all the login accounts of our partners have been technically re

295、inforced,including double-factor authentication and one-account-one-device restriction,thus reducing the risk of data theft.In addition,we have recorded the operations of merchants,set alarms in the monitoring system,and designated special personnel to track and block abnormal behavior,in an effort

296、to minimize the risk of data security and protect the security of user information.Technical reinforcement for information security and privacy protection1 1We have formulated the Business Continuity Security Management Measures and the Business Continuity Plan,and clarified the management organizat

297、ion responsible for business continuity,management regulations and emergency response procedures.We have combined prevention with recovery control to make sure that in the event of business interruption,emergency or major disaster,the Companys IT infrastructure platform and business system are able

298、to perform their systematic functions within the timeframe required by the Service Level Agreements(SLAs),and keep the damage that may be caused by unexpected security incidents in the information system to the minimum,so as to maintain the safe and stable operation of the information system to the

299、fullest extent.In 2023,the Company carried out 21 disaster recovery drills for the production business system to test the effectiveness of the emergency response procedures.The Measures for the Management of Information Security and Privacy Incidents clearly states the reporting process and pathway

300、to be followed by employees who discover any information security or privacy incidents.If an employee finds anything suspicious in terms of information security,they can report to the Information Security Department through email,internal communication software or phone.The information that could be

301、 reported includes,but not limited to,the nature of the incident,the time of occurrence,the description of facts,and the scope and magnitude of the impact.The Incident Handling Team ensures that the incident is handed promptly,quickly and effectively in accordance with the processing time requiremen

302、ts.The Company receives security vulnerabilities reported by external white hat users via its Safety Emergency Response Center,and strengthens interactions with white hat users through both online and offline activities.In 2023,Vipshop carried out cybersecurity attack and defense drills,inviting thr

303、ee qualified top attack teams to simulate hacker attacks against the Companys network and systems in line with the national standards for network security,including the hacking of private order and employee data,and carry out vulnerability analysis to test the Companys ability for protecting informa

304、tion security and privacy,and establish an anchor for improving the Companys network security system.The Companys IT infrastructure and information security management system has obtained the ISO 27001 Information Security Management System and ISO 27701 Privacy Information Management System certifi

305、cation from third-party agencies,which covered over 80%of the Companys owned operations,including the information security and privacy management of the online merchandise sales service,development,operation and maintenance of related information systems,and information security management of the cu

306、stomer service.We invite independent,third-party certification bodies to carry out supervision inspections annually to verify if the Company continues to fulfil the requirements of the Information Security Management System and Privacy Information Management System.We have established information se

307、curity systems targeting suppliers,collaborators and other partners,including the Third-Party Information Security and Privacy Management Measures and the Data Security Management Measures for Partners,with detailed requirements on the security awareness of third-party personnel,system privileges,co

308、ntinuity of third-party services,and life-cycle management of data used by collaborators.We also review our partners ability to protect data security and their compliance with data protection laws and regulations.If a partner violates the relevant regulations and agreement,penalties will be given in

309、 accordance with the Third-Party Information Security and Privacy Management Measures,as well as the terms of the contract.We have also introduced the Merchant Points Management Rules,which requires merchants to strictly enforce user privacy protection measures.If a merchant publishes,discloses,prov

310、ides or disseminates the personal information of others without authorization,or is suspected of infringing on others privacy or personal rights,minor cases will see a deduction of points and the issuing of a fine,while serious cases will see measures including the removal of that merchants products

311、 and the shuttering of their store in Vipshops platform,and Vipshop reserves the right to pursue legal actions in accordance with the law.Emergency drill and responseReporting and handling of information security incidentsVulnerability testing by third partiesThird-party certification and supervisio

312、n inspectionInformation security requirements for third-parties3 37 74 45 56 6We have formulated the Information Security and Privacy Incidents Management Measures,the Information Security Monitoring Management Measures and other internal systems to standardize the reporting,response,handling,review

313、 and improvement mechanisms for information security and privacy incidents,regulate the collection,analysis and use of threat information,and clarify the management responsibilities an processes for information security and privacy incidents,to ensure quick response and timely handling of incidents

314、and minimize the damage.We have established an information security threat monitoring system,which is able to detect and respond to various types of security threats in a timely manner through real-time monitoring and analysis of network traffic,logs and other information.We have cooperated with pro

315、fessional security agencies to share security information and intelligence and enhance the capability to deal with complex security threats.We also organize drills on a regular basis to test our capability for private data protection and collaborated response to complex security incidents.In 2023,ni

316、ne red-blue confrontations were conducted in the Company.The Company actively participates in activities hosted by the National Information Security Standardization Technical Committee and the China Communications Standards Association,such as standard-setting,forums and meetings.In 2023,Vipshop was

317、 selected by the National Information Security Standardization Technical Committee as a pilot unit for the implementation of the national standard-Information security management systems-Requirements.As a member of the Guangzhou Network Industry Promotion Association,Vipshop participated in a promot

318、ional event on cross-border data security management policy.Handling of information security and privacy incidentsIndustry cooperation on information security2 28 8024V-EcologyV-TalentV-CharityAppendixesV-Development2023 Key Results:OverviewAbout VipshopAbout This ReportChairmans MessageThe Company

319、has established a control method covering the entire data life-cycle,including the collection,use,transfer and destruction of personal information,and continuously improves the personal information protection mechanism to ensure privacy security.The Vipshop Basic Functionality Privacy Policy is post

320、ed on the Companys official website,which clearly states that the Company will obtain customers consent before collecting their information.Customers can manage their personal information,including accessing and correcting personal information,deleting personal information,altering the scope of auth

321、orization or withdrawing authorization,obtaining copies of personal information,and deleting accounts.When a customer deletes personal information from our services,if the information has not reached the statutory retention period,we may not be able to immediately delete the corresponding informatio

322、n from the system.We will securely store the customers personal information and limit any further processing of it until it can be deleted.The Company abides by national laws and regulations including the Data Security Law of the Peoples Republic of China and the Personal Information Protection Law

323、of the Peoples Republic of China,and has formulated the App Privacy Compliance Management Regulations to set out the basic principles,processing procedures and department responsibilities for privacy compliance management.The relevant provisions are updated in accordance with the latest laws,regulat

324、ions and national standards.The Companys privacy policies are applicable to all operations,including the Vipshop website,APP and mini-programs,and all stakeholders,including members,employees,suppliers and partners.Policies and procedures for the handling of personal privacy information have been sy

325、stematically embedded into the Groups compliance management.For example,in the pre-launch compliance testing of APP,our security technicians will conduct testing to check whether there are compliance issues such as illegal collection of personal information and mandatory/frequent/excessive requests

326、for permissions.To ensure the implementation of personal information protection,the Compliance Department and the Information Security Department carry out daily inspections,and work with the Internal Audit Department to conduct internal audits.If any potential illegal handling of personal informati

327、on is discovered,rectification request will be issued in time,the progress of rectification will be tracked,and the rectification results will be checked.In addition,the Company engages a third party to conduct compliance auditing on the personal information handling of the Company in accordance wit

328、h laws,regulations,and regulatory compliance requirements.Protecting personal privacyThe Vipshop Basic Functionality Privacy Policy adopts the principles of openness,transparency and minimum necessary information.When collecting customers information,customers are clearly informed of the nature of t

329、he required information,the use and scope of the collected information,how customers information is protected and stored.Meanwhile,the consent of the user is required during registration/login.We have also formulated documents for the collection of employee and supplier data to clarify the purpose o

330、f collection and ensure compliance.We have established interface transfer specifications and implemented technical control measures to ensure the security of the data transfer process.For example,all data transfer must be protected by the HTTPS protocol,and the transfer of sensitive user information

331、 fields must be encrypted at the field level.Vipshop promises to only retain customers personal information for the amount of time required for the purposes stated in Vipshop Basic Functionality Privacy Policy,except where there are legally mandated data retention requirements.The Company has develo

332、ped its own unified data encryption platform,which provides technical underpinning for the encrypted storage management of the data in the database,and placed the sensitive personal information of users under encrypted storage.On this basis,the backup files will be covered by an additional layer of

333、encryption protection.We have set up a comprehensive security risk monitoring and alert platform,adopted a multi-dimensional monitoring strategy covering all security monitoring scenarios,and constructed a firmly-based security monitoring system.At the same time,we regularly carry out risk assessment and vulnerability scanning to identify critical assets,vulnerabilities and possible attacks.We reg