HANGZHOU, China, March 17, 2022 /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 fourth quarter and fiscal year ended December 31, 2021[1] and the authorization by its board
of directors of a US$20 million share
repurchase program.
Fourth Quarter 2021 Highlights
- Total revenues in the fourth quarter of 2021 were
RMB471.4 million (US$74.0 million), compared with RMB1,327.4 million in the same period of 2020,
primarily due to the Company's strategy to refine its product
selection across all categories and carefully curate products to
implement its megahit product pool initiative focusing on the
development of private labels and exclusive products. In line with
the Company's long-term growth strategy to focus on profitability,
the Company optimized its selection of suppliers and merchants
during this refinement process, causing near-term decreases in both
its marketplace business and merchandise sales.
- Repeat purchase rate[2] in the twelve months ended
December 31, 2021 was 80.4%.
Mr. Shanglue Xiao, Chairman and Chief Executive Officer of
Yunji, said, "We achieved rapid progress in the development of our
private label brands during the fourth quarter, as we continued to
cultivate new megahit products focused on the food, healthcare, and
cosmetics product categories. We will continue to execute on the
implementation of our product differentiation strategy to deliver
sustainable growth and maintain healthy operations."
"Since achieving profitability in the second quarter of 2021, we
have continued to deliver strong financial results to maintain
profitability. During the fourth quarter of 2021, we recorded
operating income of RMB3.6 million
(US$0.6 million) and net income of
RMB57.9 million (US$9.1 million), compared with operating loss of
RMB21.8 million and net loss of
RMB77.3 million in the same period of
last year. We are confident that we can maintain this momentum to
build sustainable profits for our shareholders going forward," said
Mr. Chengqi Zhang, Yunji's Vice President of Finance.
Fourth Quarter 2021 Unaudited Financial Results
Total revenues were RMB471.4
million (US$74.0 million),
compared with RMB1,327.4 million in
the same period of 2020. The decrease was primarily due to the
Company's decision to upgrade its strategy to carefully curate
products starting from the first quarter of 2021. As part of these
upgrades, the Company launched its megahit product pool initiative,
which focused on introducing more products with strong repurchase
potential and developing private labels and exclusive products. In
line with the Company's long-term growth strategy to focus on
profitability, the Company optimized its selection of suppliers and
merchants across its platform, which caused sales decreases in both
its marketplace business and merchandise sales.
- Revenues from sales of merchandise, net decreased by 66.6% to
RMB389.4 million (US$61.1 million) from RMB1,165.2 million in the same period of
2020.
- Revenues from the marketplace business were RMB73.6 million (US$11.6
million), compared with RMB151.7
million in the same period of 2020.
- Other revenues[3] decreased by 20.6% to
RMB8.3 million (US$1.3 million) from RMB10.5 million in the same period of 2020, which
included revenues from the membership program of RMB1.4 million (US$0.2
million) in the fourth quarter of 2021, compared with
RMB0.05 million in the same period of
2020. From January 2020 until the end
of March 2021, the Company allowed
all its users to enjoy membership benefits free of charge for one
year simply by registering for an account on the Yunji app. The
Company discontinued free membership as of April 1, 2021. As a result, revenues from the
membership program in the fourth quarter of 2021 were from paying
members who joined the new membership program launched in the
second quarter of 2021, while membership revenues in the same
period of 2020 were all from the deferred revenue of prior paying
members.
Total cost of revenues decreased by 71.1% to
RMB284.9 million (US$44.7 million), or 60.4% of total revenues,
from RMB986.6 million, or 74.3% of
total revenues, in the same period of 2020. The decrease was mainly
attributable to the decline in merchandise sales, for which
revenues are recognized on a gross basis. Total cost of revenues
was mainly comprised of the costs related to the sales of
merchandise in the fourth quarter of 2021.
Total operating expenses decreased by 46.8% to
RMB195.6 million (US$30.7 million) from RMB367.9 million in the same period of 2020.
- Fulfillment expenses decreased by 49.7% to
RMB46.5 million (US$7.3 million), or 9.9% of total revenues, from
RMB92.5 million, or 7.0% of total
revenues, in the same period of 2020. The decrease was primarily
due to (i) reduced warehousing and logistics expenses due to lower
merchandise sales, (ii) reduced personnel costs due to staffing
structure refinements, and (iii) decreased service fees charged by
third-party payment settlement platforms.
- Sales and marketing expenses decreased by 53.1% to
RMB78.4 million (US$12.3 million), or 16.6% of total revenues,
from RMB167.2 million, or 12.6% of
total revenues, in the same period of 2020. The decrease was mainly
due to the decreases in member management fees and business
promotion expenses.
- Technology and content expenses decreased by 39.9% to
RMB26.4 million (US$4.1 million), or 5.6% of total revenues, from
RMB44.0 million, or 3.3% of total
revenues, in the same period of 2020. The decrease was mainly due
to the reduction in personnel costs as a result of staffing
structure refinements and reduced server costs.
- General and administrative expenses decreased by
31.0% to RMB44.3 million
(US$7.0 million), or 9.4% of total
revenues, from RMB64.2 million, or
4.8% of total revenues, in the same period of 2020, primarily due
to reduced personnel costs as a result of staffing structure
refinements.
Income from operations was RMB3.6 million (US$0.6
million), compared with loss from operations of RMB21.8 million in the same period of 2020.
Financial income, net was RMB81.8
million (US$12.8 million),
compared with financial loss, net of RMB7.4
million in the same period of 2020, primarily due to the
increased fair value of equity securities with readily determinable
fair value.
Net Income was RMB57.9
million (US$9.1 million),
compared with net loss of RMB77.3
million in the same period of 2020.
Adjusted net income (non-GAAP)[4] was RMB71.0 million (US$11.1million), compared with adjusted net loss
of RMB63.1 million in the same period
of 2020.
Basic and diluted net earnings per share attributable to
ordinary shareholders were both RMB0.03, compared with basic and diluted net loss
per share attributable to ordinary shareholders of RMB0.04 in the same period of 2020.
Fiscal Year 2021 Unaudited Financial Results
Total revenues were RMB2,155.4
million (US$338.2 million),
compared with RMB5,530.3 million in
the full year of 2020. The decrease was primarily due to the same
factors that led to the quarterly decrease.
- Revenues from sales of merchandise, net decreased by 62.8% to
RMB1,798.9 million (US$282.3 million) from RMB4,829.4 million in the full year of 2020,
primarily due to the same factors that led to the quarterly
decrease.
- Revenues from the marketplace business decreased by 46.3% to
RMB321.8 million (US$50.5 million) from RMB599.9 million in the full year of 2020,
primarily due to the same factors that led to the quarterly
decrease.
- Other revenues[3] decreased by 65.7% to
RMB34.6 million (US$5.4 million) from RMB101.0 million in the full year of 2020, which
included revenues from the membership program of RMB4.9 million (US$0.8
million) in 2021, compared with RMB42.4 million in the full year of 2020. The
decrease was primarily due to the same factors that led to the
quarterly decrease.
Total costs of revenues decreased by 65.9% to
RMB1,343.4 million (US$210.8 million) from RMB3,940.0 million in the full year of 2020. This
decrease was mainly attributable to the same factors that led to
the quarterly decrease.
Total operating expenses were RMB849.0 million (US$133.2
million), compared with RMB1,720.9
million in the full year of 2020.
- Fulfillment expenses decreased by 55.1% to
RMB202.0 million (US$31.7 million), or 9.4% of total revenues, from
RMB450.1 million, or 8.1% of total
revenues, in the full year of 2020, mainly due to the same factors
that led to the quarterly decrease.
- Sales and marketing expenses decreased by 63.3% to
RMB296.0 million (US$46.5 million), or 13.7% of total revenues,
from RMB806.1 million, or 14.6% of
total revenues, in the full year of 2020, mainly due to the same
factors that led to the quarterly decrease.
- Technology and content expenses decreased by 38.4% to
RMB124.9 million (US$19.6 million), or 5.8% of total revenues, from
RMB202.8 million, or 3.7% of total
revenues, in the full year of 2020, mainly due to the same factors
that led to the quarterly decrease.
- General and administrative expenses decreased by
13.7% to RMB226.1 million
(US$35.5 million), or 10.5% of total
revenues, from RMB261.9 million, or
4.7% of total revenues, in the full year of 2020, mainly due to the
same factors that led to the quarterly decrease.
Income from operations was RMB17.4 million (US$2.7
million), compared with loss from operations of RMB97.5 million in the full year of 2020.
Financial income, net was RMB80.1
million (US$12.6 million),
compared with financial loss, net of RMB8.6
million in the full year of 2020. The improvement was mainly
due to the same factors that led to the quarterly change.
Other non-operating income, net was RMB112.9 million (US$17.7
million) in the full year of 2021, compared with other
non-operating loss, net of RMB1.6
million in the full year of 2020. Other non-operating
income, net in the year 2021 was mainly recognized from the
Company's investment in a fast-growing dairy company in
China. The investment was
initially recorded under the equity method and later changed to an
alternative measurement when the Company lost its significant
influence. The RMB 110.5 million
(US$17.3 million) gain was recognized
based on the fair value of the investment made by a new third-party
investor, resulting in dilution of the Company's shareholding
interest.
Net Income was RMB132.3
million (US$20.8 million),
compared with net loss of RMB151.7
million in the full year of 2020.
Adjusted net Income[4] was RMB188.2million (US$29.5
million), compared with adjusted net loss of RMB53.3 million in the full year of 2020.
Basic and diluted net earnings per share attributable to
ordinary shareholders were both RMB0.06 (US$0.01),
compared with basic and diluted net loss per share attributable to
ordinary shareholders of RMB0.07 in
the full year of 2020.
Share Repurchase Program
The Company's Board of directors has approved a share
repurchase program whereby the Company is authorized to
repurchase up to US$20
million worth of its ordinary shares (including in the form of
American depositary shares) over the next six months.
The Company's proposed repurchases may be made from time to time
on the open market at prevailing market prices, in privately
negotiated transactions, in block trades and/or through other
legally permissible means, depending on market conditions and in
accordance with applicable rules and regulations. The
Company's board of directors will review the share repurchase
program periodically, and may authorize adjustment of its terms and
size. The Company plans to fund repurchases with its existing
cash balance.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses
adjusted net income/(loss) as a supplemental measure to review and
assess operating performance. The presentation of this non-GAAP
financial measure is not intended to be considered in isolation or
as a substitute for the financial information prepared and
presented in accordance with U.S. GAAP. The Company defines
adjusted net income/(loss) as net income/(loss) excluding
share-based compensation.
The Company presents adjusted net income/(loss) because it is
used by management to evaluate operating performance and formulate
business plans. Adjusted net income/(loss) enables management to
assess operating performance without considering the impact of
share-based compensation recorded under ASC 718,
"Compensation-Stock Compensation." The Company also believes that
the use of this non-GAAP measure facilitates investors' assessment
of operating performance.
This non-GAAP financial measure is not defined under U.S. GAAP
and is not presented in accordance with U.S. GAAP. The non-GAAP
financial measure has limitations as an analytical tool. One of the
key limitations of using adjusted net income/(loss) is that it does
not reflect all items of income and expense that affect the
Company's operations. Share-based compensation has been and may
continue to be incurred in Yunji's business and is not reflected in
the presentation of adjusted net income/(loss). Further, this
non-GAAP measure may differ from the non-GAAP information used by
other companies, including peer companies, and therefore its
comparability may be limited.
The Company compensates for these limitations by reconciling the
non-GAAP financial measure to the nearest U.S. GAAP performance
measure, all of which should be considered when evaluating
performance. Yunji encourages investors and others to review its
financial information in its entirety and not rely on a single
financial measure.
For more information on the non-GAAP financial measures, please
see the table captioned "Reconciliation of Non-GAAP Measures to the
Most Directly Comparable Financial Measures" set forth at the end
of this press release.
Conference Call
The Company will host a conference call on Thursday, March 17, 2022, at 7:30 AM Eastern Time or 7:30 PM Beijing/Hong Kong Time to discuss its
earnings.
In advance of the conference call, all participants must use the
following link to complete the online registration process. Upon
registering, each participant will receive important details for
this conference including the call date and time, a unique
registrant ID, and a set of participant dial-in numbers to join the
conference call.
Conference
ID
|
3574757
|
Registration
Link
|
http://apac.directeventreg.com/registration/event/3574757
|
A telephone replay of the call will be available after the
conclusion of the conference call for one week.
Dial-in numbers for the replay are as follows:
United States Toll
Free
|
+1-855-452-5696
|
International
|
+61-2-8199-0299
|
Conference
ID
|
3574757
|
Safe Harbor Statements
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "aims," "future," "intends,"
"plans," "believes," "estimates," "confident," "potential,"
"continue" or other similar expressions. Among other things, the
quotations from management in this announcement, as well as Yunji's
strategic and operational plans, contain forward-looking
statements. Yunji may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission (the "SEC"), in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
but not limited to statements about Yunji's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: Yunji's growth strategies; its future
business development, results of operations and financial
condition; its ability to understand buyer needs and provide
products and services to attract and retain buyers; its ability to
maintain and enhance the recognition and reputation of its brand;
its ability to rely on merchants and third-party logistics service
providers to provide delivery services to buyers; its ability to
maintain and improve quality control policies and measures; its
ability to establish and maintain relationships with merchants;
trends and competition in China's
e-commerce market; changes in its revenues and certain cost or
expense items; the expected growth of China's e-commerce market; PRC governmental
policies and regulations 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,
2020
|
|
December
31,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
|
Current Assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
1,063,900
|
|
567,204
|
|
89,007
|
Restricted cash
|
|
125,844
|
|
62,528
|
|
9,812
|
Short-term
investments
|
|
134,146
|
|
380,052
|
|
59,639
|
Accounts receivable,
net (Allowance for
credit losses of RMB8,603 and
RMB7,225, respectively)
|
|
164,733
|
|
118,166
|
|
18,543
|
Advance to
suppliers
|
|
103,836
|
|
59,437
|
|
9,327
|
Inventories,
net
|
|
135,245
|
|
84,500
|
|
13,260
|
Amounts due from
related parties
|
|
7,841
|
|
2,532
|
|
397
|
Prepaid expenses and
other current assets
(Allowance for credit losses of RMB2,972
and RMB4,791, respectively)
|
|
410,423
|
|
430,717
|
|
67,589
|
|
|
|
|
|
|
|
Total current assets
|
|
2,145,968
|
|
1,705,136
|
|
267,574
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Property and equipment, net
|
|
26,010
|
|
12,842
|
|
2,015
|
Long-term
investments
|
|
158,931
|
|
381,401
|
|
59,850
|
Deferred tax
assets
|
|
59,455
|
|
17,497
|
|
2,746
|
Operating lease
right-of-use assets, net
|
|
11,324
|
|
5,420
|
|
851
|
Other non-current
assets (Allowance for
credit losses of RMB1,514 and RMB488,
respectively)
|
|
148,793
|
|
227,674
|
|
35,727
|
|
|
|
|
|
|
|
Total non-current assets
|
|
404,513
|
|
644,834
|
|
101,189
|
|
|
|
|
|
|
|
Total
assets
|
|
2,550,481
|
|
2,349,970
|
|
368,763
|
|
|
|
|
|
|
|
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,
2020
|
|
December
31,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
LIABILITIES AND
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
|
|
Accounts
payable
|
|
501,549
|
|
254,839
|
|
39,990
|
Deferred
revenue
|
|
50,951
|
|
105,752
|
|
16,595
|
Incentive payables to
members
|
|
312,170
|
|
265,612
|
|
41,680
|
Member management
fees payable
|
|
45,841
|
|
15,570
|
|
2,443
|
Other payable and
accrued liabilities
|
|
284,984
|
|
202,786
|
|
31,822
|
Amounts due to
related parties
|
|
22,989
|
|
15,630
|
|
2,453
|
Operating lease
liabilities - current
|
|
6,988
|
|
5,571
|
|
874
|
|
|
|
|
|
|
|
Total current liabilities
|
|
1,225,472
|
|
865,760
|
|
135,857
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Operating lease
liabilities
|
|
8,309
|
|
3,123
|
|
490
|
Deferred tax
liabilities
|
|
1,832
|
|
2,572
|
|
404
|
|
|
|
|
|
|
|
Total non-current
liabilities
|
|
10,141
|
|
5,695
|
|
894
|
|
|
|
|
|
|
|
Total Liabilities
|
|
1,235,613
|
|
871,455
|
|
136,751
|
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,
2020
|
|
December
31,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
Ordinary
shares
|
|
70
|
|
70
|
|
11
|
Less: Treasury
stock
|
|
(85,202)
|
|
(44,228)
|
|
(6,940)
|
Additional paid-in
capital
|
|
7,327,148
|
|
7,342,344
|
|
1,152,174
|
Statutory
reserve
|
|
12,624
|
|
14,019
|
|
2,200
|
Accumulated other comprehensive income/(loss)
|
|
9,452
|
|
(15,664)
|
|
(2,458)
|
Accumulated deficit
|
|
(5,952,085)
|
|
(5,818,645)
|
|
(913,072)
|
Total Yunji
Inc. shareholders' equity
|
|
1,312,007
|
|
1,477,896
|
|
231,915
|
Non-controlling
interests
|
|
2,861
|
|
619
|
|
97
|
Total
shareholders' equity
|
|
1,314,868
|
|
1,478,515
|
|
232,012
|
Total liabilities
and shareholders' equity
|
|
2,550,481
|
|
2,349,970
|
|
368,763
|
YUNJI
INC.
|
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME (All
amounts in thousands, except for share and per share data, unless
otherwise noted)
|
|
|
|
For the Three
Months Ended
|
|
For the Year
Ended
|
|
|
December
31,
2020
|
|
December
31,
2021
|
|
December
31,
2020
|
|
December
31,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of merchandise,
net
|
|
1,165,172
|
|
389,446
|
|
61,113
|
|
4,829,397
|
|
1,798,882
|
|
282,284
|
Marketplace
revenue
|
|
151,744
|
|
73,607
|
|
11,551
|
|
599,895
|
|
321,844
|
|
50,504
|
Other
revenues[3]
|
|
10,496
|
|
8,331
|
|
1,307
|
|
100,965
|
|
34,635
|
|
5,435
|
Total
revenues
|
|
1,327,412
|
|
471,384
|
|
73,971
|
|
5,530,257
|
|
2,155,361
|
|
338,223
|
Operating cost and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(986,567)
|
|
(284,919)
|
|
(44,710)
|
|
(3,939,997)
|
|
(1,343,386)
|
|
(210,807)
|
Fulfilment
|
|
(92,472)
|
|
(46,503)
|
|
(7,297)
|
|
(450,104)
|
|
(202,026)
|
|
(31,702)
|
Sales and
marketing
|
|
(167,223)
|
|
(78,405)
|
|
(12,303)
|
|
(806,140)
|
|
(296,049)
|
|
(46,457)
|
Technology and
content
|
|
(43,973)
|
|
(26,422)
|
|
(4,146)
|
|
(202,817)
|
|
(124,854)
|
|
(19,592)
|
General and
administrative
|
|
(64,196)
|
|
(44,314)
|
|
(6,954)
|
|
(261,877)
|
|
(226,110)
|
|
(35,482)
|
Total operating
cost and expenses
|
|
(1,354,431)
|
|
(480,563)
|
|
(75,410)
|
|
(5,660,935)
|
|
(2,192,425)
|
|
(344,040)
|
Other operating
income
|
|
5,223
|
|
12,729
|
|
1,997
|
|
33,218
|
|
54,416
|
|
8,539
|
(Loss)/income from
operations
|
|
(21,796)
|
|
3,550
|
|
558
|
|
(97,460)
|
|
17,352
|
|
2,722
|
Financial (loss)
/income, net
|
|
(7,403)
|
|
81,844
|
|
12,843
|
|
(8,571)
|
|
80,061
|
|
12,563
|
Foreign exchange loss,
net
|
|
(1,040)
|
|
(281)
|
|
(44)
|
|
(919)
|
|
(1,300)
|
|
(204)
|
Other non-operating
(loss)/income,
net
|
|
(1,610)
|
|
(5,977)
|
|
(938)
|
|
(1,610)
|
|
112,909
|
|
17,718
|
(Loss)/income
before income tax
expense, and equity in loss of
affiliates, net of tax
|
|
(31,849)
|
|
79,136
|
|
12,419
|
|
(108,560)
|
|
209,022
|
|
32,799
|
Income tax
expense
|
|
(43,859)
|
|
(19,556)
|
|
(3,069)
|
|
(39,298)
|
|
(60,501)
|
|
(9,494)
|
Equity in loss of
affiliates, net of tax
|
|
(1,634)
|
|
(1,636)
|
|
(257)
|
|
(3,834)
|
|
(16,237)
|
|
(2,548)
|
Net
(loss)/income
|
|
(77,342)
|
|
57,944
|
|
9,093
|
|
(151,692)
|
|
132,284
|
|
20,757
|
Less: net
income/(loss) attributable to
non-controlling interests shareholders
|
|
1,539
|
|
12
|
|
2
|
|
(5,346)
|
|
318
|
|
50
|
Net (loss)/income
attributable to
YUNJI INC.
|
|
(78,881)
|
|
57,932
|
|
9,091
|
|
(146,346)
|
|
131,966
|
|
20,707
|
YUNJI
INC.
|
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS)/INCOME
(CONTINUED)
(All amounts
in thousands, except for share and per share data, unless otherwise
noted)
|
|
|
|
For the Three
Months Ended
|
|
For the Year
Ended
|
|
|
December
31,
2020
|
|
December
31,
2021
|
|
December
31,
2020
|
|
December
31,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Net (loss)/income
attributable to
ordinary shareholders
|
|
(78,881)
|
|
57,932
|
|
9,091
|
|
(146,346)
|
|
131,966
|
|
20,707
|
Net
(loss)/income
|
|
(77,342)
|
|
57,944
|
|
9,093
|
|
(151,692)
|
|
132,284
|
|
20,757
|
Other comprehensive
(loss)/income
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustment
|
|
(50,090)
|
|
(16,521)
|
|
(2,592)
|
|
(79,411)
|
|
(25,116)
|
|
(3,941)
|
Total
comprehensive (loss)/income
|
|
(127,432)
|
|
41,423
|
|
6,501
|
|
(231,103)
|
|
107,168
|
|
16,816
|
Less: total
comprehensive
income/(loss) attributable to non-
controlling interests shareholders
|
|
1,539
|
|
12
|
|
2
|
|
(5,346)
|
|
318
|
|
50
|
Total
comprehensive (loss)/income
attributable to YUNJI INC.
|
|
(128,971)
|
|
41,411
|
|
6,499
|
|
(225,757)
|
|
106,850
|
|
16,766
|
Net (loss)/income
attributable to
ordinary shareholders
|
|
(78,881)
|
|
57,932
|
|
9,091
|
|
(146,346)
|
|
131,966
|
|
20,707
|
Weighted average
number of
ordinary shares used in computing
net (loss)/earnings per share, basic
and diluted
|
|
2,128,849,797
|
|
2,142,400,718
|
|
2,142,400,718
|
|
2,125,906,398
|
|
2,139,963,573
|
|
2,139,963,573
|
Net
(loss)/earnings per share
attributable to ordinary
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.04)
|
|
0.03
|
|
-
|
|
(0.07)
|
|
0.06
|
|
0.01
|
Diluted
|
|
(0.04)
|
|
0.03
|
|
-
|
|
(0.07)
|
|
0.06
|
|
0.01
|
YUNJI
INC.
|
|
NOTES TO UNAUDITED
FINANCIAL INFORMATION
(All amounts in
thousands, except for share and per share data, unless otherwise
noted)
|
|
|
|
For the Three
Months Ended
|
|
For the Year
Ended
|
|
|
December
31,
2020
|
|
December
31,
2021
|
|
December
31,
2020
|
|
December
31,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Share-based
compensation expenses included
in:
|
|
|
|
|
|
|
|
|
|
|
|
|
Technology and
content
|
|
1,184
|
|
597
|
|
94
|
|
8,887
|
|
4,378
|
|
687
|
General and
administrative
|
|
14,042
|
|
11,754
|
|
1,844
|
|
71,777
|
|
49,052
|
|
7,697
|
Fulfillment
|
|
(3,963)
|
|
336
|
|
53
|
|
5,352
|
|
930
|
|
146
|
Sales and
marketing
|
|
2,995
|
|
373
|
|
58
|
|
12,362
|
|
1,550
|
|
243
|
Total
|
|
14,258
|
|
13,060
|
|
2,049
|
|
98,378
|
|
55,910
|
|
8,773
|
YUNJI
INC.
|
|
RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY COMPARABLE
FINANCIAL MEASURES
(All amounts in
thousands, except for share and per share data, unless otherwise
noted)
|
|
|
|
For the Three
Months Ended
|
|
For the Year
Ended
|
|
|
December
31,
2020
|
|
December
31,
2021
|
|
December
31,
2020
|
|
December
31,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Reconciliation of
Net (loss)/income to
Adjusted Net (loss)/income:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
(loss)/income
|
|
(77,342)
|
|
57,944
|
|
9,093
|
|
(151,692)
|
|
132,284
|
|
20,757
|
Add: Share-based compensation
|
|
14,258
|
|
13,060
|
|
2,049
|
|
98,378
|
|
55,910
|
|
8,773
|
Adjusted net
(loss)/income
|
|
(63,084)
|
|
71,004
|
|
11,142
|
|
(53,314)
|
|
188,194
|
|
29,530
|
[1] This
announcement contains translations of certain Renminbi (RMB)
amounts into U.S. dollars (US$) at a specified rate solely for the
convenience of the reader. Unless otherwise noted, the translation
of RMB into US$ has been made at RMB6.3726 to US$1.00, the exchange
rate in effect as of December 30, 2021 as set forth in the H.10
statistical release of The Board of Governors of the Federal
Reserve System.
|
[2]
"Repeat purchase rate" in a given period is calculated as the
number of transacting members who purchased not less than twice
divided by the total number of transacting members during such
period. "Transacting member" in a given period refers to a member
who successfully promotes Yunji's products to generate at least one
order or places at least one order on Yunji's platform, regardless
of whether any product in such order is ultimately sold or
delivered or whether any product in such order is
returned.
|
[3]
Starting from 2021, revenue from membership program is combined
into other revenues and is no longer a separate revenue line.
Revenue breakdown for previous periods presented in this press
release have been adjusted to be presented in the same
manner.
|
[4]
Adjusted net income/(loss) is a non-GAAP financial measure, which
is defined as net income/(loss) excluding share-based compensation
expense. See "Reconciliation of Non-GAAP Measures to the Most
Directly Comparable Financial Measures" set forth at the end of
this press release.
|
View original
content:https://www.prnewswire.com/news-releases/yunji-announces-fourth-quarter-and-fiscal-year-2021-unaudited-financial-results-and-us20-million-share-repurchase-program-301504892.html
SOURCE Yunji Inc.