Jumei International Holding Limited, China’s leading online retailer of beauty products, announced its financial results for the quarter ended September 30, 2014.

Total net GMV increased by 31.4% year-over-year to US $273.0 million, primarily due to a 23.8% increase in the number of active customers and a 14.1% increase in total orders.

Net revenues increased 28.0% year-over-year to US$157.7 million; Gross profit as a percentage of net revenues decreased to 38.0% from 43.7% in the same period in 2013.

Gross profit as a percentage of total net GMV decreased to 22.0% from 25.9% in the same period of 2013. The decreases were primarily due to an increase in promotional activities, which led to relatively higher pricing discounts, as well as the higher value-added tax paid as a result of a shift from beauty product marketplace sales to merchandise sales.

Net income attributable to ordinary shareholders increased by 88.6% year-over-year to US $19.5 million. Non-GAAP net income attributable to ordinary shareholders[4] was US$21.0 million, increase of 87.4% from the same period of 2013.

Leo Chen, founder and CEO of Jumei, stated, “We just delivered the tenth consecutive quarter of strong growth and profitability. Despite this being a quarter of transition, we saw net income attributable to ordinary shareholders increase by 88.6% and mobile transactions as percentage of net GMV reach 57%. As we communicated to investors during our IPO roadshow, we are working to eventually move most of our beauty product marketplace sales to merchandise sales.”