• Baozun delivers a solid quarter with a surprising resurgence in product sales growth and margins.
• Margins are generally on an upward path, despite significant investment in distribution and technology.
• Sooner or later these investments are going to pay off, and with the shares selling at just 4.5 times trailing 12-month sales, the shares have ample room to rise.

Source: Baozun Has Ample Room For Valuation Expansion – Baozun (NASDAQ:BZUN) | Seeking Alpha