NEW YORK, December 30, 2025, 1:14 PM ET — Regular session
Vipshop Holdings Limited (VIPS) shares fell about 5% on Tuesday, trading around $18.39 in afternoon dealings.
The drop came in a muted U.S. session with year-end liquidity thin, leaving single-stock swings more pronounced than usual. 1
Investors are also waiting for the Federal Reserve’s minutes from its Dec. 9-10 meeting due later Tuesday, looking for signals on how policymakers see the 2026 path for interest rates. 2
Jefferies analyst Thomas Chong reiterated a buy rating and a $22.60 price target on Vipshop. Jefferies expects fourth-quarter revenue at the low end of management’s guidance, citing a tougher year-ago comparison and the timing of Chinese New Year promotions, and said Super VIP (SVIP), its paid loyalty membership tier, should keep growing at a double-digit pace.
U.S.-listed China peers were mixed: Alibaba was down about 0.4%, JD.com fell about 1.5%, and PDD Holdings was little changed. The KraneShares CSI China Internet ETF was flat, while the iShares China Large-Cap ETF edged up.
Vipshop last reported results on Nov. 20, saying third-quarter revenue rose 3.4% to RMB21.4 billion and net income attributable to shareholders climbed 16.8% to RMB1.2 billion. “We successfully regained business growth in the third quarter,” Chief Executive Officer Eric Shen said.
For the fourth quarter, Vipshop forecast net revenues of RMB33.2 billion to RMB34.9 billion, a range that implies roughly flat to 5% growth from a year earlier.
Guidance is a company’s own forecast, and coming in at the low end can still rattle investors if the market had started to price in a stronger finish to the year.
Traders will watch whether the stock steadies after Tuesday’s dip, or whether selling builds into the close as year-end positioning continues.
In currency markets, the dollar firmed ahead of the Fed minutes as traders weighed the outlook for U.S. rates and the yuan’s recent weakness. 3
Beyond the minutes, investors are focused on signals that move China consumer demand — from the promotional calendar around Lunar New Year to any policy headlines that affect spending.
