HANGZHOU, China, Aug. 15, 2024 /PRNewswire/ -- Yunji Inc. ("Yunji" or the "Company") (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced that it plans to release its second quarter financial results before the market opens on Friday, August 23, 2024. The earnings release will be available on the Company's investor relations website at https://investor.yunjiglobal.com/.The Company will hold a conference call on Friday, August 23, 2024 at 7:30 A.M. Eastern Time or 7:30 P.M. Be ...

Yunji Inc. (NASDAQ:YJ) Q1 2024 Earnings Conference Call June 11, 2024 7:30 AM ET Company Participants Shanglue Xiao - Chairman, Chief Executive Officer Yeqing Cui - Senior Financial Director Kaye Liu - Investor Relations Director Conference Call Participants Ethan Yu - First Trust Group Operator Good morning, and good evening ladies and gentlemen. Thank you for standing by and welcome to Yunji's First Quarter 2024 Earnings Conference Call. With us today are Mr. Shanglue Xiao, Chairman and Chief Executive O ...

HANGZHOU, China, June 11, 2024 /PRNewswire/ -- Yunji Inc. ("Yunji" or the "Company") (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced its unaudited financial results for the first quarter ended March 31, 2024[1].First Quarter 2024 HighlightsTotal revenues in the first quarter of 2024 were RMB127.9 million (US$17.7 million), compared with RMB178.7 million in the same period of 2023. The change was primarily due to soft consumer confidence and the Company's continued strate ...

HANGZHOU, China, June 4, 2024 /PRNewswire/ -- Yunji Inc. ("Yunji" or the "Company") (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced that it plans to release its first quarter financial results before the market opens on Tuesday, June 11, 2024. The earnings release will be available on the Company's investor relations website at https://investor.yunjiglobal.com/.The Company will hold a conference call on Tuesday, June 11, 2024 at 7:30 A.M. Eastern Time or 7:30 P.M. Beijin ...

Core Insights - Yunji Inc. has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023, with the SEC on April 25, 2024 [1] - The annual report includes audited consolidated financial statements and is available for shareholders and ADS holders upon request [1] Company Overview - Yunji Inc. is a leading social e-commerce platform in China, utilizing a membership-based model to enhance social interactions [2] - The platform offers high-quality products at competitive prices across various categories, catering to the daily needs of Chinese consumers [2] - The company employs advanced technologies such as big data and artificial intelligence to improve user experience and encourage members to promote the platform [2] - Yunji has established a reputation for trustworthy e-commerce through product curation, centralized sourcing, and efficient supply chain management, providing exclusive membership benefits like discounted prices [2]

VIE Structure and Regulatory Environment - Revenues contributed by the VIEs accounted for 23.8%, 30.3%, and 49.4% of total revenues for the years 2021, 2022, and 2023, respectively[13]. - The company has consolidated the financial results of the VIEs in accordance with U.S. GAAP, treating them as the primary beneficiary[14]. - The VIE structure is used to provide investors with exposure to foreign investment in China-based companies, where direct foreign investment is restricted[14]. - The company may incur substantial costs to enforce contractual arrangements with the VIEs, which are not equivalent to equity ownership[14]. - The contractual arrangements with the VIEs allow the company to direct their activities and receive economic benefits[23]. - The PRC government has significant authority in regulating operations, which may impact the ability to conduct business and accept foreign investments[16]. - The company faces substantial uncertainties regarding the interpretation and application of current and future PRC laws and regulations[28]. - Current PRC laws do not require the company or its subsidiaries to obtain permission from the CSRC for historical securities issuance to foreign investors[31]. - The PRC government has implemented new regulations requiring domestic companies seeking to list overseas to file with the CSRC, effective March 31, 2023[32]. - The company is currently compliant with PRC laws regarding cybersecurity and data protection, with no formal investigations or sanctions reported as of the date of the annual report[101]. - The company has established an integrated data compliance management structure and enacted various data compliance policies to ensure data security[102]. - There is uncertainty regarding compliance with PRC regulations related to the VIE structure, which could lead to severe penalties or loss of operational interests[214]. - Foreign ownership restrictions in certain business areas, such as value-added telecommunications services, limit the company's operational flexibility in China[215]. - The company operates as a Cayman Islands holding company with no direct equity ownership in VIEs, creating potential risks regarding the enforceability of contractual arrangements[216]. Financial Performance and Position - Total revenues for Yunji Inc. reached RMB 640,209 thousand, with third-party revenues contributing RMB 316,382 thousand, representing a significant portion of total revenues[48]. - The net loss attributable to Yunji Inc. was RMB 165,129 thousand, reflecting ongoing challenges in operational performance[48]. - Total operating costs and expenses amounted to RMB 735,726 thousand, with third-party operating costs accounting for RMB 272,602 thousand[48]. - For the year ended December 31, 2022, total revenues were RMB 1,154,114 thousand, with third-party revenues at RMB 349,259 thousand[49]. - The net loss for the year ended December 31, 2022, was RMB 138,173 thousand, indicating a continued trend of financial losses[49]. - In 2021, total revenues were RMB 2,155,361 thousand, with third-party revenues at RMB 513,299 thousand, showing a decline in revenue over the subsequent years[50]. - Cash and cash equivalents as of December 31, 2023, totaled RMB 64,070 thousand, indicating liquidity position[52]. - Total assets as of December 31, 2023, were RMB 1,553,784 thousand, reflecting the overall financial health of the company[52]. - The company reported total liabilities of RMB 362,689 thousand, suggesting a manageable debt level relative to assets[52]. - The investment in subsidiaries and VIEs was RMB 883,681 thousand, highlighting the company's strategic focus on its investments[52]. - As of December 31, 2022, total assets amounted to RMB 1,892,411 thousand, a decrease from RMB 2,349,970 thousand as of December 31, 2021, representing a decline of approximately 19.5%[53][54]. - Total liabilities as of December 31, 2022, were RMB 536,511 thousand, compared to RMB 871,455 thousand in 2021, indicating a reduction of about 38.4%[53][54]. - Cash and cash equivalents decreased from RMB 567,204 thousand in 2021 to RMB 414,634 thousand in 2022, reflecting a decline of approximately 26.9%[54][53]. - The company reported net cash used in operating activities of RMB (216,822) thousand for the year ended December 31, 2022, compared to RMB (94,555) thousand in 2021, indicating a worsening cash flow situation[57][56]. - Total shareholders' equity as of December 31, 2022, was RMB 1,355,900 thousand, a slight decrease from RMB 1,478,515 thousand in 2021, representing a decline of about 8.3%[53][54]. - The company had net cash generated from investing activities of RMB 92,565 thousand for the year ended December 31, 2022, compared to RMB 92,565 thousand in 2021, indicating stability in investment cash flow[57][56]. - The total current assets as of December 31, 2022, were RMB 1,212,513 thousand, down from RMB 1,705,136 thousand in 2021, a decrease of approximately 29%[53][54]. - The company reported a net cash decrease of RMB 172,989 thousand in cash, cash equivalents, and restricted cash for the year ended December 31, 2022[57]. - The amount due from group companies was RMB 1,845,206 thousand as of December 31, 2022, compared to RMB 1,281,468 thousand in 2021, reflecting an increase of approximately 44%[53][54]. - The company’s short-term investments increased from RMB 380,052 thousand in 2021 to RMB 212,003 thousand in 2022, a decrease of approximately 44.4%[54][53]. - The company incurred a net loss of RMB165.1 million (US$23.3 million) in 2023, compared to a net loss of RMB138.4 million in 2022 and a net income of RMB132.3 million in 2021[115]. - The company has experienced negative operating cash flow for the years ended December 31, 2021, 2022, and 2023[115]. - The company reported negative operating cash flow for the years ended December 31, 2021, 2022, and 2023, and may continue to experience negative cash flow in the future[190]. Market and Competitive Environment - The e-commerce industry in China is highly competitive, with major competitors having greater financial and technical resources, which may impact the company's market share and profitability[109]. - The company has faced intense competition, which could lead to a loss of market share and users if not managed effectively[64]. - The company launched its marketplace business in Q1 2019, allowing third-party merchants to sell products on its platform and pay commissions, contributing to future revenue diversification[82]. - Membership loyalty and growth are critical for the company's success, with recent changes in the membership system potentially impacting retention and engagement[78]. - The company relies on increasing the number of members and optimizing its cost structure to achieve profitability, which remains uncertain[75]. - Average spending per buyer decreased from RMB 2,061 in 2020 to RMB 1,195 in 2023, indicating a decline in consumer spending[75]. - Seasonal fluctuations in user traffic and sales could result in volatility in the company's results and affect the market price of its ADSs[186]. - The company faces risks related to natural disasters and health epidemics that could disrupt operations and adversely affect financial results[108]. - Geopolitical tensions, including the Russia-Ukraine conflict, have led to increased food prices and inflation, which may adversely affect consumer spending[211]. - Economic conditions in China are sensitive to global economic changes and domestic policies, which could lead to reduced consumer spending[211]. - The company may face difficulties in collecting payments from customers experiencing financial difficulties due to economic slowdowns[211]. Operational Risks and Challenges - The company faces significant risks related to its corporate structure, including reliance on contractual arrangements with VIEs, which may not be as effective as direct ownership[66]. - The company has incurred various operational risks associated with being based in mainland China, including regulatory changes and data privacy compliance[64]. - The company faces risks in adapting to evolving user needs and preferences, which could materially affect its business if it fails to provide satisfactory products and services[81]. - The company must manage relationships with third-party logistics providers to ensure reliable delivery services, as failures could harm business reputation[124]. - The fulfillment infrastructure is essential for success, but reliance on third-party vendors poses risks to operational efficiency[147]. - The company has experienced temporary supply shortages and delays in product launches due to disruptions caused by the COVID-19 pandemic[118]. - The company may incur additional costs to comply with existing and future PRC laws and regulations related to data security and personal information protection[105]. - The company faces challenges in managing a large volume of data, including protecting it from external attacks and ensuring compliance with applicable laws[94]. - The company may face significant costs and efforts in defending against claims related to counterfeit or unauthorized products sold on its platform[140]. - The company may incur liability for counterfeit or unauthorized products sold on its platform, despite measures taken to verify product authenticity[138]. - Changes in return and exchange policies may lead to increased costs and affect user satisfaction, impacting overall operations[178]. - The company has not maintained third-party liability insurance for most products sold, exposing it to material risks from product liability claims[167]. - Security breaches of user information could severely damage the company's reputation and business operations[168][169]. Strategic Initiatives and Future Outlook - The company intends to continue investing in its technology platform to support a curated selection of products and additional value-added services[115]. - The company has adjusted its business practices since February 2016 to comply with the Regulations on the Prohibition of Pyramid Selling, following a fine of approximately RMB9.6 million (US$1.4 million) imposed in May 2017[89]. - The company relies on third-party manufacturing partners for private label products, with significant revenue generated from brands like Suye and Qing Zi Yang[121]. - The company must continue to attract and maintain relationships with third-party merchants to ensure a diverse product offering on its platform[126]. - The company has granted a significant number of share-based compensation awards, which may increase expenses and impact financial results[185]. - Future investments or acquisitions may require significant management attention and could divert resources from existing operations, potentially adversely affecting business performance[189]. - The company faces potential liability under consumer protection laws due to products sold on its platform, which could result in significant financial repercussions[166][167]. - The company relies heavily on the continued services of its management, particularly the CEO, which is critical for its strategic direction and overall success[163]. - There is intense competition for talent in China, which may lead to increased compensation costs to attract and retain qualified personnel[164]. - The company may enter into strategic alliances with third parties, which could expose it to risks such as sharing proprietary information and increased expenses[188]. Legal and Compliance Risks - The company may be held liable for content displayed on its platform, which could lead to legal sanctions and affect its financial condition[160]. - Allegations or lawsuits against the company may harm its reputation and distract management from daily operations[150]. - The company is subject to risks related to anti-corruption laws, and violations could severely damage its reputation and financial condition[205]. - Regulatory and public scrutiny over consumer protection and data privacy may lead to legal responsibilities and negative publicity, impacting the company's reputation[207]. - The company has not received any penalties or disciplinary actions from governmental authorities regarding business operations without required licenses as of the report date[158]. - The company is in the process of applying for additional licenses and permits required for certain services on its platform[157]. Economic and Market Conditions - A severe downturn in the Chinese or global economy could materially and adversely affect the company's business and financial condition[210]. - The company's revenues are significantly impacted by economic conditions in China and globally, with a notable slowdown in the Chinese economy since 2010 and a population decline starting in 2022[211]. - The Federal Reserve and other central banks have raised interest rates, contributing to a challenging global macroeconomic environment[211]. - The company faces increased costs and risks of non-compliance due to changing laws and regulations, which divert management attention from revenue-generating activities[212].

挖贝网2024年4月18日，云集数科（873683）近日发布2023年年度报,报告期内，公司实现营业收入33,794,857.15元；归属于挂牌公司股东的净利润3,354,161.72元。 报告期内研发费用4,433,013.37元，上年同期4,343,598.47元，同比增加2.06%。 挖贝网资料显示，云集数科的主要业务为专门面向省市级农信联社、农商银行、村镇银行等中小银行提供基于大数据技术的软件开发、模型开发、运维服务等一系列的IT解决方案。 ...

HANGZHOU, China, April 4, 2024 /PRNewswire/ -- Yunji Inc. ("Yunji" or the "Company") (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced that on April 3, 2024, the Listing Qualifications department of the Nasdaq Stock Market LLC ("Nasdaq") approved the Company's request to transfer the listing of the Company's American Depositary Shares (the "ADSs") from the Nasdaq Global Market to the Nasdaq Capital Market. The transfer is expected to take effect at the opening of business ...

Financial Data and Key Metrics Changes - Total revenues for Q4 2023 were RMB 149 million, down from RMB 289 million year-over-year [12] - Revenues from merchandise sales were RMB 112 million, while marketplace business revenues were RMB 34 million [12] - Gross margin remained solid at 46.6%, attributed to customer loyalty towards private labels and effective product creation strategies [13] - Net loss was RMB 66 million compared to RMB 68 million in the previous year, with adjusted net loss at RMB 65 million compared to RMB 31 million a year ago [15] - Cash and cash equivalents, restricted cash, and short-term investments totaled RMB 552 million as of December 2023, down from RMB 669 million a year earlier [16] Business Line Data and Key Metrics Changes - The company focused on refining its product range and optimizing its supplier and merchant network, which impacted short-term sales [12] - Fulfillment expenses decreased to RMB 25 million from RMB 32 million year-over-year, driven by lower warehousing and logistics costs [13] - Sales and marketing expenses were reduced to RMB 29 million from RMB 59 million, primarily due to a decline in member management fees and business promotion expenses [14] Market Data and Key Metrics Changes - The e-commerce market experienced intense price competition, with major platforms adopting low-price strategies [4] - Despite market pressures, the company maintained a stable average order value due to its curated product selection [5] Company Strategy and Development Direction - The company aims to enhance brand image and explore diverse marketing avenues while focusing on curated product selection and cost-effectiveness [9] - A new healthcare product line was launched, generating sales exceeding RMB 80 million upon launch [8] - The company is integrating AI into operations to improve customer service and support service managers [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by low-price strategies in the market but emphasized the importance of unique product offerings and customer loyalty [19] - The company is committed to improving inventory management and cash flow to support long-term strategic objectives [16] Other Important Information - The company has developed a range of private label products and upgraded its medicinal product lineup, focusing on popular ingredients like collagen and probiotics [6] - Customer service improvements are being made through professional training and enhanced service policies [8] Q&A Session Summary Question: Impact of new consumer-biased policies from major e-commerce platforms - Management believes that product quality and unique offerings are more important than low pricing strategies, and they maintain a low refund rate due to effective user education [19]

Yunji Inc. (NASDAQ:YJ) Q3 2023 Earnings Conference Call December 14, 2023 6:30 AM ET Company Participants Kaye Liu - IR Shanglue Xiao - Chairman, CEO Yeqing Cui - Senior Financial Director Conference Call Participants Ethan Yu - First Trust China Operator Good morning, and good evening, ladies and gentlemen. Thank you for standing by, and welcome to Yunji's Third Quarter 2023 Earnings Conference Call. With us today are Mr. Shanglue Xiao, Chairman and Chief Executive Officer; Mr. Yeqing Cui, Senior Financial ...