Financial Data and Key Metrics Changes - Total revenue decreased to RMB 158.3 million from RMB 233.8 million year-over-year, reflecting a decline due to softer consumer confidence [13] - Revenue from merchandise sales was RMB 131.7 million, while marketplace business revenue was RMB 24.5 million, impacted by ongoing product selection optimization [14] - Gross margin remained solid at 47.3%, supported by customer loyalty and effective product curation [14] - Operating expenses increased to RMB 179.4 million from RMB 149.1 million year-over-year, with a significant rise in general and administrative expenses due to higher credit loss allowances [16] - Net loss was RMB 100.7 million compared to a net loss of RMB 8 million a year ago, indicating a substantial increase in losses [17] Business Line Data and Key Metrics Changes - The flagship product Youjiang Organic achieved RMB 5 million in sales at launch, contributing to brand awareness in the health sector [5] - Blinds Lemon Coffee sales exceeded RMB 10 million, while Probind Audis bolus reached nearly RMB 7 million [6] - The SUYEA PRO Xilin Firming series generated over RMB 10 million in sales, indicating strong market reception [7] - The Jianxin Tea Therapy business reached a 50% participation rate among frequent users, showcasing customer loyalty [9] Market Data and Key Metrics Changes - The company is expanding public domain channels and enhancing WeChat transaction volumes, which currently exceed 92.5% of peers [8] - Community group leaders are increasingly focusing on private domain e-commerce, indicating a shift in retail dynamics [11] Company Strategy and Development Direction - The company remains committed to its organic health strategy, viewing it as a long-term opportunity despite current market challenges [5] - Plans to expand brand influence through integrated organic health concepts and optimize product mix are in place [6] - Future focus will be on expanding community group leader channels and placing organic foods in their stores to enhance accessibility [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged market uncertainties but emphasized the importance of maintaining financial discipline and optimizing cost structures [13][19] - The company aims to achieve breakeven and strengthen its financial position while preparing for future growth opportunities [19] Other Important Information - The company has a cash position of RMB 217.1 million, providing adequate coverage for obligations [17] - The focus on loss integration and efficient asset utilization is crucial for future improvements [19] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating a lack of interaction during the Q&A segment [21]

Core Viewpoint - Yunji Inc. is undergoing a strategic transformation towards organic living, focusing on high-margin and high-retention categories while optimizing its cost structure and capital allocation to improve profitability and support sustainable growth [2][3]. Financial Performance - Total revenues for the first half of 2025 were RMB158.3 million (US$22.1 million), a decrease from RMB233.8 million in the same period of 2024, attributed to soft consumer confidence and a refined product selection strategy [3][6]. - Revenues from merchandise sales were RMB131.7 million (US$18.4 million), down from RMB185.0 million in the same period of 2024 [7]. - Total cost of revenues decreased by 31.2% to RMB83.5 million (US$11.7 million), representing 52.7% of total revenues, compared to 51.9% in the same period of 2024 [4]. - Total operating expenses increased by 20.3% to RMB179.4 million (US$25.0 million) from RMB149.1 million in the same period of 2024 [5]. - Loss from operations was RMB100.4 million (US$14.0 million), compared to RMB32.4 million in the same period of 2024 [9]. - Net loss was RMB100.7 million (US$14.1 million), compared to RMB8.0 million in the same period of 2024 [10]. Cost Structure and Expenses - Fulfillment expenses decreased by 51.7% to RMB20.6 million (US$2.9 million), or 13.0% of total revenues, from RMB42.6 million, or 18.2% of total revenues, in the same period of 2024 [8]. - Sales and marketing expenses increased by 5.5% to RMB50.1 million (US$7.0 million), or 31.6% of total revenues, from RMB47.5 million, or 20.3% of total revenues, in the same period of 2024 [8]. - General and administrative expenses surged by 178.6% to RMB93.4 million (US$13.0 million), or 59.0% of total revenues, from RMB33.5 million, or 14.3% of total revenues, in the same period of 2024 [9]. Membership and Customer Engagement - The repeat purchase rate for the twelve months ended June 30, 2025, was 71.0%, indicating strong customer retention [6]. Balance Sheet Overview - As of June 30, 2025, total assets were RMB1,223.98 million (US$170.86 million), down from RMB1,352.45 million as of December 31, 2024 [21][24]. - Current liabilities decreased to RMB233.88 million (US$32.65 million) from RMB262.24 million [23]. Strategic Initiatives - The company is focusing on expanding user acquisition through both online and offline channels to enhance customer engagement and deliver greater value to members [2]. - Yunji is committed to maintaining financial discipline while driving improved profitability and supporting long-term sustainable growth [2].

Core Viewpoint - Yunji Inc. plans to release its unaudited interim financial results on August 21, 2025, before market opens, indicating a commitment to transparency and investor communication [1][2]. Company Overview - Yunji Inc. is a leading social e-commerce platform in China, utilizing a membership-based model to enhance social interactions and consumer engagement [3]. - The platform offers a wide variety of high-quality products at attractive prices, catering to the daily needs of Chinese consumers [3]. - The company employs advanced technologies such as big data and artificial intelligence to improve user experience and encourage members to promote the platform [3]. - Yunji has established a trustworthy reputation through deliberate product curation, centralized merchandise sourcing, and efficient supply chain management, providing exclusive membership benefits including discounted prices [3]. Conference Call Details - A conference call will be held on August 21, 2025, at 7:30 A.M. Eastern Time to discuss the earnings, with multiple access numbers provided for international listeners [2]. - The replay of the conference call will be available until August 28, 2025, along with a live and archived webcast on the company's investor relations website [2].

Group 1 - Nasdaq Golden Dragon China Index increased by 1.6%, outperforming the three major US stock indices, which are down by up to 0.6% [1] - Notable gains in popular Chinese concept stocks include Bilibili up over 7.8%, Baidu and Yum China up to 5.3%, and Li Auto up over 4.3% [1] - Significant stock movements include Yunmi Technology up 36.14%, XinYong up 30.77%, and Bit Origin up 24.94% [1] Group 2 - Yunmi Technology's current price is $2.26, with a rise of 36.14% and a year-to-date increase of 54.79% [2] - XinYong's current price is $4.25, with a rise of 30.77% and a year-to-date increase of 429.28% [2] - Bit Digital's current price is $3.56, with a rise of 21.12% and a year-to-date increase of 21.53% [2]

Core Viewpoint - Yunji Inc. announces the resignation of Mr. Yeqing Cui as Senior Financial Director, effective July 3, 2025, and Ms. Nan Song will succeed him in the role [1][2]. Company Leadership Changes - Mr. Yeqing Cui has resigned for personal reasons, and the company expresses gratitude for his contributions during his tenure [1]. - Ms. Nan Song, who has extensive finance experience and has been with Yunji since August 2015, will take over as finance in charge and report to the Chairman and CEO, Mr. Shanglue Xiao [2][3]. Ms. Nan Song's Background - Ms. Song has held various roles within Yunji, including General Ledger Accountant, Finance Manager, and Head of the Financial Analysis Department [3]. - She previously worked at Zhejiang Xiaoye Network Technology Co., Ltd for two years before joining Yunji and holds a bachelor's degree in Accounting from Zhejiang University of Finance & Economics, obtained in 2016 [3]. Company Overview - Yunji Inc. is a leading social e-commerce platform in China, utilizing a membership-based model to enhance social interactions and provide high-quality products at attractive prices [5]. - The company leverages advanced technologies such as big data and artificial intelligence to improve user experience and encourage members to promote the platform [5]. - Yunji focuses on product curation, centralized merchandise sourcing, and efficient supply chain management to establish itself as a trustworthy e-commerce platform with exclusive membership benefits [5].

Core Viewpoint - Yunji Inc. has announced the dismissal of PricewaterhouseCoopers Zhong Tian LLP as its independent registered public accounting firm and appointed WWC, P.C. as the new firm effective May 22, 2025 [1] Group 1: Accounting Firm Transition - The board of directors and the audit committee approved the change in accounting firms, with the new appointment effective for the fiscal year ending December 31, 2025 [1] - PwC's reports on Yunji's consolidated financial statements for the fiscal years ended December 31, 2024, and 2023 contained no adverse opinions or disclaimers [2] - There have been no disagreements between Yunji and PwC regarding accounting principles, financial statement disclosures, or auditing procedures during the relevant fiscal years [3] Group 2: Company Overview - Yunji Inc. is a leading social e-commerce platform in China, utilizing a membership-based model to enhance social interactions [4] - The platform offers a variety of high-quality products at attractive prices, catering to the daily needs of Chinese consumers [4] - Advanced technologies such as big data and artificial intelligence are employed to optimize user experience and encourage member engagement [4]

Core Viewpoint - Yunji Inc. has filed its annual report for the fiscal year ended December 31, 2024, with the SEC, highlighting its position as a leading membership-based social e-commerce platform in China [1]. Company Overview - Yunji Inc. operates a unique membership-based social e-commerce model that leverages social interactions to enhance consumer engagement [3]. - The platform offers a wide variety of high-quality products at attractive prices, catering to the daily needs of Chinese consumers [3]. - The company utilizes advanced technologies such as big data and artificial intelligence to optimize user experience and encourage members to promote the platform [3]. - Yunji has established itself as a trustworthy e-commerce platform through deliberate product curation, centralized merchandise sourcing, and efficient supply chain management [3]. - Exclusive membership benefits include discounted prices, enhancing customer loyalty and engagement [3].

Revenue and Financial Performance - Revenues from the VIE accounted for 30.3%, 49.4%, and 56.2% of total revenues for the years 2022, 2023, and 2024, respectively[25]. - The total revenues for the year ended December 31, 2024, amounted to RMB 417,651,000, with third-party revenues contributing RMB 234,870,000 and intra-group revenues contributing RMB 262,685,000[50]. - Total revenues for the year ended December 31, 2023, were RMB 640,209 thousand, a decrease from RMB 1,154,114 thousand in 2022, representing a decline of approximately 44.4%[52]. - The net loss attributable to Yunji Inc. for the same period was RMB 123,110,000, with a loss from operations of RMB 136,296,000[50]. - The net loss attributable to Yunji Inc. for the year ended December 31, 2023, was RMB 165,129 thousand, compared to a net loss of RMB 138,173 thousand in 2022, indicating an increase in losses of about 19.5%[52]. - Cash and cash equivalents as of December 31, 2023, totaled RMB 517,542 thousand, down from RMB 1,191,422 thousand as of December 31, 2022, reflecting a decrease of approximately 56.5%[53]. - Total assets as of December 31, 2023, were RMB 1,553,784 thousand, a decrease from RMB 1,352,452 thousand in 2022, indicating a decline of about 12.9%[53]. - Total liabilities as of December 31, 2023, were RMB 362,689 thousand, compared to RMB 274,406 thousand in 2022, indicating an increase of approximately 32.1%[53]. - The company reported a share of loss from investments in VIE and subsidiaries amounting to RMB 282,348 thousand for the year ended December 31, 2023[52]. - The company experienced a net cash decrease of RMB 301,879 for the year ended December 31, 2024, with cash, cash equivalents, and restricted cash at the end of the year totaling RMB 242,832[54]. Regulatory Environment and Compliance - The company is subject to evolving PRC laws and regulations that may impact its ability to conduct business and accept foreign investments[27]. - The PRC government has significant authority over the company's operations, which could limit its ability to offer securities to investors[28]. - Current PRC laws do not require the company to obtain permission from the CSRC for historical securities issuance to foreign investors[37]. - Under the Overseas Listing Trial Measures, PRC domestic companies must complete filing procedures for future securities offerings outside mainland China, which may include follow-on offerings and issuance of convertible bonds[39]. - The company is classified as an "existing issuer" under the Overseas Listing Trial Measures, meaning it is not required to file immediately due to its prior listing on Nasdaq before March 31, 2023[39]. - The Holding Foreign Companies Accountable Act (HFCAA) could lead to the company's securities being prohibited from trading if audit reports are not issued by a PCAOB-inspected firm for two consecutive years[41]. - The PCAOB has not issued any new determinations regarding its ability to inspect accounting firms in mainland China, which may affect the company's future compliance under the HFCAA[42]. - The company is subject to risks related to compliance with anti-corruption laws, and violations could severely damage its reputation and financial condition[168]. - The company may require approval from the CSRC for offshore offerings, and any failure to obtain or delay in obtaining such approval could lead to sanctions and adversely affect its business[213]. - The Overseas Listing Trial Measures effective March 31, 2023, require PRC domestic companies to fulfill filing procedures with the CSRC for future securities offerings, creating substantial uncertainties[215]. Business Operations and Strategy - The company acquired Yunji Sharing in December 2023, terminating previous contractual arrangements with its shareholders[30]. - The VIE acquired Hangzhou Chuanchou in May 2024, which has since become a wholly owned subsidiary of the VIE, leading to the termination of prior arrangements with Hangzhou Chuanchou[30]. - The company has established stringent controls for cash flows, with all cash transfers subject to internal approval and managed by the finance department[45]. - The company has not declared or paid any cash dividends and does not plan to do so in the foreseeable future, intending to retain all available funds for business operations and expansion[46]. - The company aims to continue investing in its technology platform to support a curated selection of products and additional value-added services[97]. - The company operates a marketplace with 486 third-party merchants, which may complicate quality control and customer service consistency[105]. - The company relies on third-party logistics providers for delivery, and any failures in these services could adversely affect its reputation and business[103]. - The company has implemented internal and external measures to ensure compliance with data privacy laws, including updated personal information processing rules and data processing agreements with logistics partners[85]. - The company has adopted measures to comply with the E-Commerce Law, which imposes new requirements on e-commerce platform operators, including assisting in tax collection[113]. Market and Competitive Landscape - The company faces significant risks related to declining revenues and uncertainties in its business and industry[59]. - The e-commerce industry in China is highly competitive, with significant pressure from competitors that may have greater resources and brand recognition, potentially impacting market share and profitability[91]. - The company faces intense competition for talent in China, which may lead to increased compensation costs and challenges in hiring qualified personnel[136]. - The company must adapt to rapid technological changes and evolving user preferences to remain competitive in the e-commerce market[71]. - The business model relies heavily on third-party service companies for member services, which may impact member retention and engagement[68]. Risks and Uncertainties - The company faces substantial uncertainties regarding the interpretation and implementation of PRC regulations, which could materially affect its operations and financial condition[40]. - The company may incur substantial costs to enforce the terms of its contractual arrangements with the VIE[26]. - The company faces risks associated with expanding its product offerings, which may lead to inventory buildup and lower profit margins[96]. - The company may incur future net losses if it fails to increase its member base and optimize its cost structure[97]. - The company may face legal sanctions from PRC authorities for content displayed on its platform, which could include suspension or revocation of necessary licenses[134]. - The company has faced allegations and lawsuits that could harm its reputation and may incur significant costs in defending against these claims[125]. - The company relies on the continued efforts of its senior management, particularly the founder and CEO, to maintain its strategic direction and business success[135]. - The company may be held liable for product liability claims related to third-party products sold on its platform, which could adversely affect its financial condition[137]. - The company faces risks from natural disasters and health epidemics, which could disrupt operations and adversely affect financial performance[90]. Financial Management and Capital Structure - The company may require additional capital due to negative operating cash flow in 2022, 2023, and 2024, and may seek credit facilities or issue additional equity or debt securities[156]. - The company has a 15% preferential income tax rate for certain subsidiaries in China, although this rate is temporary and subject to qualification[51]. - The withholding income tax on dividends distributed by foreign invested enterprises is 10%, reduced to 5% if the immediate holding company is in Hong Kong or other jurisdictions with a tax treaty with China[51]. - The company has not entered into long-term contracts with third-party manufacturing partners, which may affect supply stability[101]. - The company has not obtained all necessary licenses and permits for selling certain specific products or services, which may impact its operations[131]. Technology and Data Management - The company relies on the performance and reliability of its mobile platform and internet infrastructure, and any disruptions could adversely impact its business operations[163]. - The satisfactory performance of IT systems is critical for maintaining service delivery, and any disruptions could negatively impact user experience and operational results[92]. - The company utilizes external cloud services for data storage and analysis, and any interruptions in these services could materially affect business operations[94]. - The company generates and processes a large volume of data, facing risks related to data privacy and cybersecurity compliance, which could adversely affect business prospects[79]. Inventory and Supply Chain Management - The company’s net inventories decreased from RMB54.7 million as of December 31, 2022, to RMB42.7 million as of December 31, 2023, and further to RMB29.4 million (US$4.0 million) as of December 31, 2024[119]. - Inventory turnover days increased from 38.4 days in 2022 to 61.5 days in 2024, indicating challenges in inventory management[119]. - The company sourced products from 299 suppliers and had 486 third-party merchants on its online marketplace as of December 31, 2024[114]. - The fulfillment infrastructure is essential to the company's success, but it relies on third-party vendors, which poses risks if service quality decreases[121]. Shareholder and Management Relations - The shareholders of the VIE may have conflicts of interest that could adversely impact the company's ability to direct business operations and receive economic benefits[197]. - The company may lose the ability to direct the VIE's activities if the VIE's shareholders breach contractual arrangements or face personal disputes[199]. - The effectiveness of the company's internal control over financial reporting was evaluated as effective as of December 31, 2024, but ongoing maintenance is crucial to avoid potential issues[127].

Financial Data and Key Metrics Changes - Total revenue for the first quarter of 2024 was 197.1 million RMB, compared to 149.1 million RMB a year ago, reflecting a significant increase [30] - Gross margin improved to 48.3%, driven by customer loyalty towards private labels and effective product creation strategies [31] - Net loss was 85 million RMB, compared to 65.9 million RMB a year ago, indicating a worsening financial position [34] Business Line Data and Key Metrics Changes - Revenue from sales and merchandise was 75.5 million RMB, while revenue from the marketplace business was 19.4 million RMB, showing growth in both segments [30] - The ProBioDisc bonus achieved sales of nearly 5 million RMB in Q1 2024 and over 6 million RMB in Q1 2025, indicating strong performance in organic health products [11][13] Market Data and Key Metrics Changes - The user repurchase rate maintained a strong 71.9%, reflecting consumer trust in the company's offerings [8] - The new Qingran coffee launched in March 2024 generated over 5 million RMB in sales within half a month, showcasing rapid market acceptance [11][13] Company Strategy and Development Direction - The company aims to strengthen its private label brand, Suye, and expand its product lines to enhance customer value and drive growth [15][16] - A strategic upgrade from Suye's messaging to its visual identity was completed, focusing on advanced skincare technology [15] - The company is evolving into a service experience platform, particularly through innovative tea therapy wellness courses, to build health-focused communities [24] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of organic health as a strategic goal and highlighted the need for operational alignment and efficiency improvements [6][9] - The company plans to maintain financial discipline while strategically investing to drive sustainable growth and improve profitability [36] - Future initiatives will focus on product innovation and enhancing core competencies to create greater social value for Chinese families [25] Other Important Information - The Jianxing Tea Therapy Program is set to launch in May 2025, combining tea tasting, meditation, and stretching lessons to promote holistic health [19][50] - The program aims to strengthen community ties and drive sales of organic health products, integrating cultural experiences with wellness [50] Q&A Session Summary Question: Can you provide more color about the upcoming T3P project? - The Jianxing Tea Therapy product will launch in May, offering a unique wellness experience that combines tea with a ritualized service model, promoting a healthy lifestyle [42] - The program includes an 18-minute experience with traditional stretching, tea tasting, and meditation, aimed at self-healing and community engagement [46][48]

Financial Data and Key Metrics Changes - Total revenue for the first quarter of 2024 was RMB 97.1 million, a decrease from RMB 149.2 million a year ago, primarily due to ongoing refinements in product range and supplier optimization [20] - Gross margin improved to 49.4% in 2024, with a user repurchase rate of 71.9%, indicating strong consumer trust [6][20] - Net loss increased to RMB 85 million compared to RMB 65.9 million a year ago, with an adjusted net loss of RMB 84.5 million [24] Business Line Data and Key Metrics Changes - Revenue from merchandise sales was RMB 75.5 million, while marketplace business revenue was RMB 19.4 million, reflecting a strategic shift in product offerings [20] - The private label organic health products, particularly probiotics, achieved sales of nearly RMB 5 million in Q4 2024 and over RMB 6 million in Q1 2025 [8] Market Data and Key Metrics Changes - The company is focusing on the silver economy, aiming to create health-focused communities through innovative wellness programs [16] - The tea therapy program, which combines product sales with immersive experiences, has shown strong user engagement, with 91% retention among participants [12] Company Strategy and Development Direction - The company is committed to organic health as a key strategic objective, aiming to transition from a traditional transaction platform to a dynamic experience ecosystem [15][16] - Plans for 2025 include launching the therapy program and expanding the SUYE product line, focusing on high-margin, high-repurchase rate products [11][15] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of operational realignment and cost optimization to navigate current market conditions and improve future performance [19][26] - The restructuring undertaken in 2024 is expected to provide a streamlined operational foundation for sustainable growth [26] Other Important Information - The company completed a consolidation of its health business, enhancing its ability to provide trusted healthy living solutions [7] - The SUYE brand underwent a strategic upgrade, aiming to become a world-class leader in skincare [9][10] Q&A Session Summary Question: Can you elaborate on the therapy product? - The therapy product aims to provide a unique wellness experience, integrating a virtualized service model to create a complete journey towards wellness [30] Question: What makes the tea used in the therapy program special? - The tea is certified organic and sourced from a renowned production area, enhancing the overall quality of the tea therapy experience [32] Question: How does the program contribute to community building? - The program not only promotes personal wellness but also strengthens community ties and drives sales of organic health products, creating a holistic approach to health and happiness [34]