Baozun (BZUN) CEO Qiu Wenbin Buys 13,900 Shares

What Happened
Qiu Wenbin, CEO of Baozun Inc. (BZUN), made two open-market purchases totaling 13,900 American Depositary Shares (ADSs) for about $39,825. He bought 7,000 ADSs on 2026-09-18 at a weighted-average price of $2.88 (total $20,160) and 6,900 ADSs on 2026-09-21 at a weighted-average price of $2.85 (total $19,665). These transactions are purchases (not sales).

Key Details

• Transaction dates & prices:
  • 2026-09-18 — 7,000 ADSs at weighted-average $2.88 (prices ranged $2.878–$2.890) — $20,160 (Footnote F1).
  • 2026-09-21 — 6,900 ADSs at weighted-average $2.85 (prices ranged ~$2.850–$2.854) — $19,665 (Footnote F2).
  • Transaction code: P = Purchase.
• Shares owned after transaction: The Form 4 does not list a total ADS holding. Footnote F3 states that all ADSs are held by JESFUND (SINGAPORE) PTE. LTD., a Singapore company wholly owned by the reporting person, following these transactions.
• Footnotes: F1 and F2 indicate the reported prices are weighted averages from multiple trades; the filer will provide per-price breakdown on request. F3 clarifies the shares are held through the insider’s wholly owned entity.
• Filing timeliness: Form filed on 2026-09-22 (transactions reported for 2026-09-18 and 2026-09-21). This filing date is four days after the first trade and appears to exceed the typical 2-business-day Form 4 reporting window.

Context
Open-market purchases by an executive can be interpreted as a positive signal, but these buys total roughly $40k and should be weighed with other information (company fundamentals, size of holdings, and market conditions). Holdings are reported indirectly through a wholly owned entity (JESFUND), not as direct personal holdings.