relating to Yunji's industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Yunji's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Yunji undertakes no obligation to update any forward-looking statement, except as required under applicable law.
About Yunji Inc.
Yunji Inc. is a leading social e-commerce platform in China that has pioneered a unique, membership-based model to leverage the power of social interactions. The Company's e-commerce platform offers high-quality products at attractive prices across a wide variety of categories catering to the day-to-day needs of Chinese consumers. In addition, the Company uses advanced technologies including big data and artificial intelligence to optimize user experience and incentivize members to promote the platform as well as share products with their social contacts. Through deliberate product curation, centralized merchandise sourcing, and efficient supply chain management, Yunji has established itself as a trustworthy e-commerce platform with high-quality products and exclusive membership benefits, including discounted prices.
For more information, please visit https://investor.yunjiglobal.com/
Investor Relations Contact
Yunji Inc.
Investor Relations
Email: Yunji.IR@icrinc.com
Phone: +1 (646) 224-6957
ICR, LLC
Robin Yang
Email: Yunji.IR@icrinc.com
Phone: +1 (646) 224-6957
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except for share and per share data, unless
otherwise noted)
As of
----------------------------------
December 31, September 30,
2023 2024
------------- -------------------
RMB RMB US$
ASSETS
Current Assets
Cash and cash equivalents 517,542 244,061 34,778
Restricted cash 27,169 24,313 3,465
Short-term investments 7,195 - -
Accounts receivable, net (Allowance
for credit losses of RMB35,159 and
RMB33,786, respectively) 64,312 56,331 8,027
Advance to suppliers 14,058 12,114 1,726
Inventories, net 42,716 28,387 4,045
Amounts due from related parties 1,361 942 134
Prepaid expenses and other current
assets([4]) (Allowance for credit
losses of RMB13,017 and RMB25,117,
respectively) 134,247 138,722 19,768
Total current assets 808,600 504,870 71,943
------------- ---------- -------
Non-current assets
Property and equipment, net 175,451 183,185 26,104
Land use rights, net([5]) - 175,541 25,014
Long-term investments 364,159 372,123 53,027
Operating lease right-of-use assets,
net 16,507 15,035 2,142
Other non-current assets (Allowance
for credit losses of RMB22,213 and
RMB17,262, respectively) 189,067 161,954 23,078
Total non-current assets 745,184 907,838 129,365
Total assets 1,553,784 1,412,708 201,308
============= ========== =======
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless
otherwise noted)
As of
------------------------------------
December 31, September 30,
2023 2024
---------------- ------------------
RMB RMB US$
LIABILITIES AND SHAREHOLDERS'
EQUITY
Current Liabilities
Accounts payable 96,782 61,308 8,736
Deferred revenue 9,412 9,623 1,371
Incentive payables to members([6]) 124,889 72,964 10,395
Member management fees payable 4,373 600 86
Other payable and accrued
liabilities 109,200 101,354 14,443
Amounts due to related parties 3,535 2,257 322
Operating lease liabilities -
current 3,376 3,849 549
Total current liabilities 351,567 251,955 35,902
---------------- --------- -------
Non-current liabilities
Operating lease liabilities 11,122 10,083 1,437
Total non-current liabilities 11,122 10,083 1,437
Total Liabilities 362,689 262,038 37,339
---------------- --------- -------
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless
otherwise noted)
As of
-------------------------------------
December 31, September 30,
2023 2024
------------ -----------------------
RMB RMB US$
Shareholders' equity
Ordinary shares 70 70 10
Less: Treasury stock (116,108) (116,045) (16,536)
Additional paid-in capital 7,328,680 7,330,464 1,044,583
Statutory reserve 16,254 16,254 2,316
Accumulated other comprehensive
income 85,291 81,122 11,560
Accumulated deficit (6,123,971) (6,162,055) (878,086)
------------ ------------ ---------
Total Yunji Inc. shareholders'
equity 1,190,216 1,149,810 163,847
Non-controlling interests 879 860 122
------------ ------------ ---------
Total shareholders' equity 1,191,095 1,150,670 163,969
------------ ------------ ---------
Total liabilities and
shareholders' equity 1,553,784 1,412,708 201,308
============ ============ =========
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(All amounts in thousands, except for share and per share data, unless otherwise
noted)
For the Three Months Ended For the Nine Months Ended
------------------------------ ------------------------------
September September 30, September September 30,
30, 2023 2024 30, 2023 2024
--------- ------------------- --------- -------------------
RMB RMB US$ RMB RMB US$
Revenues:
Sales of
merchandise,
net 114,132 70,011 9,976 388,321 255,036 36,342
Marketplace
revenue 28,703 14,848 2,116 95,929 60,015 8,552
Other revenues 2,354 1,832 261 6,812 5,477 780
--------- --------- -------- --------- --------- --------
Total revenues 145,189 86,691 12,353 491,062 320,528 45,674
--------- --------- -------- --------- --------- --------
Operating cost
and expenses:
Cost of revenues (78,868) (39,760) (5,666) (253,161) (161,071) (22,952)
Fulfilment (25,621) (17,186) (2,449) (82,627) (59,754) (8,515)
Sales and
marketing (29,608) (19,304) (2,751) (92,561) (66,792) (9,518)
Technology and
content (13,852) (11,604) (1,654) (41,457) (37,135) (5,292)
General and
administrative (28,058) (25,795) (3,676) (76,474) (59,316) (8,453)
--------- --------- -------- --------- --------- --------
Total operating
cost and
expenses (176,007) (113,649) (16,196) (546,280) (384,068) (54,730)
--------- --------- -------- --------- --------- --------
Other operating
income 541 733 104 14,118 4,894 697
--------- --------- -------- --------- --------- --------
Loss from
operations (30,277) (26,225) (3,739) (41,100) (58,646) (8,359)
Financial
(loss)/income,
net (1,884) (5,682) (810) (36,799) 19,911 2,837
Foreign exchange
(loss)/income,
net (88) 2,405 343 (7,466) 4,735 675
Other
non-operating
income/(loss),
(MORE TO FOLLOW) Dow Jones Newswires
November 21, 2024 05:00 ET (10:00 GMT)
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