{
 "as_of": "2026-11-04",
 "cmr": "hk-cm-kg/HKEX/09991",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# BAOZUN-W (Main Board: 09991) — research page\n\nAs of 2026-11-04 · hk-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is BAOZUN-W, listed on the Main Board of the Hong Kong market under ticker 09991, with ISIN KYG0891M1069 and LEI 549300IF0HZ7T4762633. Its security type is Corporate and its jurisdiction is Cayman Islands (KY). Segment is not on the record, and sector is not on the record. Its status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 57 filings across 49 filing days in the window 2025-11-04 to 2026-11-04. Filings by type are: AGM/EGM 7, announcements 8, annual report 1, circular 1, ESG report 1, interim report 1, monthly returns 13, next-day disclosures 19, and results 6. The median gap between filing days is 5.0 days, against a Main Board median of 9.0 days. Days from the latest filing to the record date are 1, against a Main Board median of 2.0 days. The Main Board median filing count is 46.0 across 2,472 issuers, and the issuer's 57 filings are above that median. The sector median is not on the record. The latest filing is a monthly return dated 2026-11-03.\n\n## Auditor\n\nThe auditor of record is KPMG. Its location is not on the record. Auditor changes are not on the record.\n\n## Events and halts\n\nListing, delisting, name change, domicile change and segment move dates are not on the record, because this register has no lifecycle type map yet. The halt flag is listed, not halted.\n\n## Orderability\n\nThe outcome is not determinable. The chapter's orderability section carries no client categories, so the outcome cannot name its client category. The rule version is acm-68000/hk/suitability-sfc-code-of-conduct-paragraph-5-2/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nThe issuer's investor-relations page names 23 research houses: 86 Research, Blue Lotus Capital, CCB International, China Renaissance, China Securities, CICC, CITIC, Citi, CLSA, CMB International, Daiwa Capital, Essence Securities, GF Securities, Guotai Junan, Guoyuan International, HSBC, Jefferies, J.P.Morgan, Orient Securities, SWS research, TH Capital, Tianfeng Securities, and Huatai Securities.\n\n## Open research\n\nNo openly published research notes were found on the record.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nNo issuer years are sealed. The market's earliest sealed date is not on the record, and the market's vintage is not sealed. The live record began on 2026-09-12. Years 2021 through 2026 are sealed in the store but not served as of a date, and the as-of door answers not_sealed.\n\n## Sources\n\n9 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.hkex.com.hk/eng/services/trading/securities/securitieslists/ListOfSecurities.xlsx (identity.exchange)\n- https://api.gleif.org/api/v1/lei-records/549300IF0HZ7T4762633 (identity.jurisdiction)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://mcp.hk-cm-kg.ai/events/HKEX/09991 (the disclosure lines)\n- https://www.hkex.com.hk/eng/stat/smstat/dayquot/d261104e.htm (the halt flag)\n- https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0423/2026042301793.pdf (the auditor)\n- https://mcp.hk-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://ir.baozun.com/analyst-coverage (coverage)\n- https://mcp.hk-cm-kg.ai/record/HKEX/09991 (the record)\n",
 "market": "HK",
 "node": "hk-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [],
   "live_record_began": "2026-09-12",
   "node_history_from": null,
   "node_years_sealed": [],
   "note": "6 years are sealed in the HK store; their Replay split is not built, so the as-of door answers not_sealed and the record is the live record as of 2026-11-04",
   "record_version": 1,
   "sealed": false,
   "store_years_sealed_not_served": [
    "2021",
    "2022",
    "2023",
    "2024",
    "2025",
    "2026"
   ]
  },
  "auditor": {
   "auditor": {
    "read_by": "annual report 2026-04-23 (HKEXnews), Corporate Information, read by Tavily page extraction",
    "read_date": "2026-11-04",
    "read_date_basis": "the record version as_of",
    "source": "https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0423/2026042301793.pdf",
    "state": "confirmed",
    "value": "KPMG"
   },
   "auditor_firm_id": {
    "market": "HK",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "HK",
    "state": "not_on_record"
   },
   "changes": {
    "market": "HK",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "cmr": "hk-cm-kg/HKEX/09991",
  "coverage": {
   "count": 23,
   "houses": [
    {
     "analyst": "Xiaoyan Wang / Lisa Zhou",
     "house": "86 Research",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Shawn Yang",
     "house": "Blue Lotus Capital",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Cathy Chan",
     "house": "CCB International",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Ella Ji",
     "house": "China Renaissance",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Kun Shi",
     "house": "China Securities",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Weijia Wu",
     "house": "CICC",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Qingpu Yang / Colin Shan",
     "house": "CITIC",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Alicia Yap",
     "house": "Citi",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Leo You",
     "house": "CLSA",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Sophie Huang",
     "house": "CMB International",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Robin Leung",
     "house": "Daiwa Capital",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Beibei Zhou",
     "house": "Essence Securities",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Qifan Yang",
     "house": "GF Securities",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Meng Zi / Yanxin Chen",
     "house": "Guotai Junan",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Limin He / Chengru Li",
     "house": "Guoyuan International",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Charlene Liu",
     "house": "HSBC",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Thomas Chong",
     "house": "Jefferies",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Andre Chang",
     "house": "J.P.Morgan",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Hongmei Shi",
     "house": "Orient Securities",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Liping Wang",
     "house": "SWS research",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Tian X. Hou",
     "house": "TH Capital",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Rong Kong",
     "house": "Tianfeng Securities",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    },
    {
     "analyst": "Jie Hou",
     "house": "Huatai Securities",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://ir.baozun.com/analyst-coverage",
     "state": "sourced"
    }
   ],
   "pages_checked": [
    {
     "page": "https://ir.baozun.com/analyst-coverage",
     "result": "read: 23 of 48 named houses found on the page"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": "not stated on the page read",
   "state": "found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 2472,
     "median_cadence_gap_days": 9,
     "median_filings": 46,
     "median_latency_days": 2,
     "name": "Main Board"
    },
    "sector": {
     "market": "HK",
     "state": "not_on_record"
    }
   },
   "by_type": {
    "agm_egm": 7,
    "announcement": 8,
    "annual_report": 1,
    "circular": 1,
    "esg_report": 1,
    "interim_report": 1,
    "monthly_return": 13,
    "next_day_disclosure": 19,
    "results": 6
   },
   "cadence_median_gap_days": 5,
   "filing_days": 49,
   "filings": 57,
   "latency_days": 1,
   "latest": [
    {
     "category": null,
     "date": "2026-11-03",
     "source": "https://www1.hkexnews.hk/listedco/listconews/sehk/2026/1103/2026110301388.pdf",
     "title": "Monthly Return of Equity Issuer on Movements in Securities for the month ended 31 October 2026",
     "type": "monthly_return"
    },
    {
     "category": null,
     "date": "2026-10-26",
     "source": "https://www1.hkexnews.hk/listedco/listconews/sehk/2026/1026/2026102600420.pdf",
     "title": "Next Day Disclosure Return",
     "type": "next_day_disclosure"
    },
    {
     "category": null,
     "date": "2026-10-23",
     "source": "https://www1.hkexnews.hk/listedco/listconews/sehk/2026/1023/2026102300524.pdf",
     "title": "Next Day Disclosure Return",
     "type": "next_day_disclosure"
    },
    {
     "category": null,
     "date": "2026-10-22",
     "source": "https://www1.hkexnews.hk/listedco/listconews/sehk/2026/1022/2026102200615.pdf",
     "title": "Next Day Disclosure Return",
     "type": "next_day_disclosure"
    },
    {
     "category": null,
     "date": "2026-10-21",
     "source": "https://www1.hkexnews.hk/listedco/listconews/sehk/2026/1021/2026102100452.pdf",
     "title": "Next Day Disclosure Return",
     "type": "next_day_disclosure"
    }
   ],
   "latest_filing_date": "2026-11-03",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.hk-cm-kg.ai/events/HKEX/09991",
   "window": {
    "from": "2025-11-04",
    "to": "2026-11-04"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "HKEX List of Securities (ListOfSecurities.xlsx)",
    "read_date": "2026-11-04",
    "read_date_basis": "the record version as_of",
    "source": "https://www.hkex.com.hk/eng/services/trading/securities/securitieslists/ListOfSecurities.xlsx",
    "state": "sourced",
    "value": "Main Board"
   },
   "isin": {
    "read_by": "HKEX List of Securities (ListOfSecurities.xlsx)",
    "read_date": "2026-11-04",
    "read_date_basis": "the record version as_of",
    "source": "https://www.hkex.com.hk/eng/services/trading/securities/securitieslists/ListOfSecurities.xlsx",
    "state": "sourced",
    "value": "KYG0891M1069"
   },
   "jurisdiction": {
    "read_by": "GLEIF LEI record (LEI per the LEI column) (legal jurisdiction)",
    "read_date": "2026-11-04",
    "read_date_basis": "the record version as_of",
    "source": "https://api.gleif.org/api/v1/lei-records/549300IF0HZ7T4762633",
    "state": "sourced",
    "value": "Cayman Islands (KY)"
   },
   "lei": {
    "read_by": "GLEIF ISIN-to-LEI mapping file (daily), LEI by exact ISIN",
    "read_date": "2026-11-04",
    "read_date_basis": "the field",
    "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download (ISIN KYG0891M1069)",
    "state": "sourced",
    "value": "549300IF0HZ7T4762633"
   },
   "name": {
    "read_by": "HKEX List of Securities (ListOfSecurities.xlsx)",
    "read_date": "2026-11-04",
    "read_date_basis": "the record version as_of",
    "source": "https://www.hkex.com.hk/eng/services/trading/securities/securitieslists/ListOfSecurities.xlsx",
    "state": "sourced",
    "value": "BAOZUN-W"
   },
   "sector": {
    "market": "HK",
    "reason": "HKEX publishes the industry classification per issuer on its website pages, not in the List of Securities (no page reads by order)",
    "state": "not_on_record"
   },
   "security_type": {
    "read_by": "HKEX List of Securities (ListOfSecurities.xlsx)",
    "read_date": "2026-11-04",
    "read_date_basis": "the record version as_of",
    "source": "https://www.hkex.com.hk/eng/services/trading/securities/securitieslists/ListOfSecurities.xlsx",
    "state": "sourced",
    "value": "Corporate"
   },
   "segment": {
    "market": "HK",
    "state": "not_on_record"
   },
   "ticker": {
    "read_by": "HKEX List of Securities (ListOfSecurities.xlsx)",
    "read_date": "2026-11-04",
    "read_date_basis": "the record version as_of",
    "source": "https://www.hkex.com.hk/eng/services/trading/securities/securitieslists/ListOfSecurities.xlsx",
    "state": "sourced",
    "value": "09991"
   },
   "website": {
    "market": "HK",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": {
    "market": "HK",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "domicile_change": {
    "market": "HK",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "listing": {
    "market": "HK",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "name_change": {
    "market": "HK",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "segment_move": {
    "market": "HK",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "market": "HK",
  "node": "hk-cm-kg",
  "numbers_hash": "sha256:fef1f46a1cc4e33984ad5124a47f2723decd50dcd634d820bdffe424c329c025",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [],
   "state": "none_found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [],
   "determinable": false,
   "read": {
    "chapter": "https://mcp.hk-cm-kg.ai/book/aio.json",
    "door": "https://mcp.hk-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "reason": "the chapter's orderability section carries no client_categories: the outcome cannot name its client category",
   "rule_version": "acm-68000/hk/suitability-sfc-code-of-conduct-paragraph-5-2/r1",
   "section": "hk.aio.v6"
  },
  "record": {
   "as_of": "2026-11-04",
   "url": "https://mcp.hk-cm-kg.ai/record/HKEX/09991",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-04",
   "source": "https://www.hkex.com.hk/eng/stat/smstat/dayquot/d261104e.htm",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:fef1f46a1cc4e33984ad5124a47f2723decd50dcd634d820bdffe424c329c025",
 "path": "/hk/HKEX/09991",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is BAOZUN-W, listed on the Main Board of the Hong Kong market under ticker 09991, with ISIN KYG0891M1069 and LEI 549300IF0HZ7T4762633. Its security type is Corporate and its jurisdiction is Cayman Islands (KY). Segment is not on the record, and sector is not on the record. Its status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 57 filings across 49 filing days in the window 2025-11-04 to 2026-11-04. Filings by type are: AGM/EGM 7, announcements 8, annual report 1, circular 1, ESG report 1, interim report 1, monthly returns 13, next-day disclosures 19, and results 6. The median gap between filing days is 5.0 days, against a Main Board median of 9.0 days. Days from the latest filing to the record date are 1, against a Main Board median of 2.0 days. The Main Board median filing count is 46.0 across 2,472 issuers, and the issuer's 57 filings are above that median. The sector median is not on the record. The latest filing is a monthly return dated 2026-11-03.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is KPMG. Its location is not on the record. Auditor changes are not on the record.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "Listing, delisting, name change, domicile change and segment move dates are not on the record, because this register has no lifecycle type map yet. The halt flag is listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is not determinable. The chapter's orderability section carries no client categories, so the outcome cannot name its client category. The rule version is acm-68000/hk/suitability-sfc-code-of-conduct-paragraph-5-2/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "The issuer's investor-relations page names 23 research houses: 86 Research, Blue Lotus Capital, CCB International, China Renaissance, China Securities, CICC, CITIC, Citi, CLSA, CMB International, Daiwa Capital, Essence Securities, GF Securities, Guotai Junan, Guoyuan International, HSBC, Jefferies, J.P.Morgan, Orient Securities, SWS research, TH Capital, Tianfeng Securities, and Huatai Securities.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "No openly published research notes were found on the record.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "No issuer years are sealed. The market's earliest sealed date is not on the record, and the market's vintage is not sealed. The live record began on 2026-09-12. Years 2021 through 2026 are sealed in the store but not served as of a date, and the as-of door answers not_sealed.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "9 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.hkex.com.hk/eng/services/trading/securities/securitieslists/ListOfSecurities.xlsx"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://api.gleif.org/api/v1/lei-records/549300IF0HZ7T4762633"
  },
  {
   "for": "identity.lei",
   "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.hk-cm-kg.ai/events/HKEX/09991"
  },
  {
   "for": "the halt flag",
   "source": "https://www.hkex.com.hk/eng/stat/smstat/dayquot/d261104e.htm"
  },
  {
   "for": "the auditor",
   "source": "https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0423/2026042301793.pdf"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.hk-cm-kg.ai/book/aio.json"
  },
  {
   "for": "coverage",
   "source": "https://ir.baozun.com/analyst-coverage"
  },
  {
   "for": "the record",
   "source": "https://mcp.hk-cm-kg.ai/record/HKEX/09991"
  }
 ],
 "title": "BAOZUN-W (09991) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}