HANGZHOU, China, Aug. 26, 2021 /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 second quarter ended June
30, 2021[1].
Second Quarter 2021 Highlights
- Total revenues in the second quarter of 2021 were
RMB570.7 million (US$88.4 million), compared with RMB1,486.9 million in the same period of 2020,
primarily due to the Company's focus on refining its product
selection across all categories by upgrading its strategy to
carefully curate products through the implementation of its megahit
product pool initiative. In line with the Company's long-term
growth strategy to focus on profitability, the Company optimized
its selection of suppliers and merchants during the refinement
process, which caused sales decreases in both its marketplace
business and merchandise sales.
- Repeat purchase rate[2] in the twelve months
ended June 30, 2021 was 81.2%.
Mr. Shanglue Xiao, Chairman and Chief Executive Officer of
Yunji, said, "In the second quarter of 2021, we remained focused on
increasing membership value and optimizing product selection and
refinement. As a result of these continued efforts, our repeat
purchase rate has now stabilized. Average spending per
buyer[3] in the second quarter of 2021 reached
RMB853. We are delighted to see these
improvements and will continue to execute our supply chain
differentiation and product curation strategies to generate lasting
shareholder value."
"After several quarters of optimization, our refined operations
have resulted in significant improvements in our profitability.
During the second quarter of 2021, we recorded an operating income
of RMB16.0 million and a net income
of RMB17.0 million, compared with an
operating loss of RMB45.2 million and
a net loss of RMB17.5 million in the
same period last year. As of June 30,
2021, we had RMB1,092.1
million in Cash and cash equivalents, restricted cash, and
short-term investment, compared with RMB1,323.9 million as of December 31, 2020. We are confident that our
innovative strategies and refined operational capabilities will
continue to drive our sustainable development in the future." said
Mr. Chengqi Zhang, Yunji's Vice President of Finance.
Second Quarter 2021 Unaudited Financial Results
Total revenues were RMB570.7
million (US$88.4 million),
compared with RMB1,486.9 million in
the same period of 2020. This 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 customer appeal to refine product selections across
all product categories on its platform. 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 63.7% to
RMB472.1 million (US$73.1 million) from RMB1,299.3 million in the same period of
2020.
- Revenues from the membership program were RMB1.9 million, compared with RMB12.3 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
has discontinued free membership as of April
1, 2021. As a result, revenues from the membership program
in the second 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.
- Revenues from the marketplace business were RMB88.2 million (US$13.7
million), compared with RMB159.6
million in the same period of 2020.
- Other revenues decreased by 45.1% to RMB8.6 million (US$1.3
million) from RMB15.6 million
in the same period of 2020.
Total cost of revenues decreased by 64.8% to
RMB370.5 million (US$57.4 million), or 64.9% of total revenues,
from RMB1,053.7 million, or 70.9% 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 revenue in the second quarter of 2021.
Total operating expenses decreased by 61.6% to
RMB186.9 million (US$28.9 million) from RMB486.6 million in the same period of 2020.
- Fulfillment expenses decreased by 61.2% to RMB50.1 million (US$7.8
million), or 8.8% of total revenues, from RMB129.0 million, or 8.7% 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, and (ii) reduced personnel costs due to staffing structure
refinements.
- Sales and marketing expenses decreased by 73.1% to
RMB61.5 million (US$9.5 million), or 10.8% of total revenues, from
RMB228.4 million, or 15.4% 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 44.7% to
RMB32,4 million (US$5.0 million), or 5.7% of total revenues, from
RMB58.6 million, or 3.9% 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 39.3%
to RMB42.9 million (US$6.6 million), or 7.5% of total revenues, from
RMB70.7 million, or 4.8% of total
revenues, in the same period of 2020, primarily due to a decrease
in share-based compensation expenses.
Income from operations was RMB16.0 million (US$2.5
million), compared with loss from operations of RMB 45.2 million in the same period of 2020.
Financial income, net was RMB7.8
million (US$1.2 million),
compared with RMB28.2 million in the
same period of 2020, primarily due to decreased fair value of
equity securities with readily determinable fair value.
Net Income was RMB17.0
million (US$2.6 million),
compared with net loss of RMB17.5
million in the same period of 2020.
Adjusted net income (non-GAAP)[4] was
RMB23.9 million (US$3.7 million), compared with RMB20.1 million in the same period of 2020.
Basic and diluted net Income per share attributable to
ordinary shareholders were both RMB0.01, compared with basic and diluted net loss
per share attributable to ordinary shareholders of RMB0.01 in the same period of 2020.
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, August 26, 2021, at 7:00 AM Eastern Time or 7:00 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
|
2439548
|
Registration
Link
|
http://apac.directeventreg.com/registration/event/2439548
|
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
|
2439548
|
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
|
|
June
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
|
Current Assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
1,063,900
|
|
760,518
|
|
117,789
|
Restricted cash
|
|
125,844
|
|
72,244
|
|
11,189
|
Short-term
investments
|
|
134,146
|
|
259,369
|
|
40,171
|
Accounts receivable,
net (Allowance for
credit losses of RMB8,603 and
RMB5,718, respectively)
|
|
164,733
|
|
135,234
|
|
20,945
|
Advance to
suppliers
|
|
103,836
|
|
81,948
|
|
12,691
|
Inventories,
net
|
|
135,245
|
|
100,883
|
|
15,625
|
Amounts due from
related parties
|
|
7,841
|
|
1,778
|
|
275
|
Prepaid expenses and
other current assets
(Allowance for credit losses of RMB2,972
and RMB4,053, respectively)
|
|
410,423
|
|
447,167
|
|
69,257
|
|
|
|
|
|
|
|
Total current assets
|
|
2,145,968
|
|
1,859,141
|
|
287,942
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Property and equipment, net
|
|
26,010
|
|
17,190
|
|
2,662
|
Long-term
investments[5]
|
|
158,931
|
|
224,680
|
|
34,799
|
Deferred tax
assets
|
|
59,455
|
|
40,683
|
|
6,301
|
Operating lease
right-of-use assets, net
|
|
11,324
|
|
5,087
|
|
788
|
Other non-current
assets (Allowance for
credit losses of RMB1,514 and
RMB1,913, respectively)
|
|
148,793
|
|
176,876
|
|
27,395
|
|
|
|
|
|
|
|
Total non-current assets
|
|
404,513
|
|
464,516
|
|
71,945
|
|
|
|
|
|
|
|
Total
assets
|
|
2,550,481
|
|
2,323,657
|
|
359,887
|
|
|
|
|
|
|
|
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
|
|
June
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
LIABILITIES,
MEZZANINE EQUITY AND
SHAREHOLDERS' (DEFICITS)/EQUITY
|
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
|
|
Accounts
payable
|
|
501,549
|
|
375,569
|
|
58,168
|
Deferred
revenue
|
|
50,951
|
|
36,620
|
|
5,672
|
Incentive payables to
members
|
|
312,170
|
|
278,857
|
|
43,189
|
Refund payable to
members
|
|
4,398
|
|
2,010
|
|
311
|
Member management
fees payable
|
|
45,841
|
|
26,078
|
|
4,039
|
Other payable and
accrued liabilities
|
|
280,586
|
|
228,331
|
|
35,364
|
Amounts due to
related parties
|
|
22,989
|
|
16,381
|
|
2,537
|
Operating lease
liabilities - current
|
|
6,988
|
|
3,921
|
|
607
|
|
|
|
|
|
|
|
Total current liabilities
|
|
1,225,472
|
|
967,767
|
|
149,887
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Operating lease
liabilities
|
|
8,309
|
|
5,214
|
|
808
|
Deferred tax
liabilities
|
|
1,832
|
|
6,890
|
|
1,067
|
|
|
|
|
|
|
|
Total non-current
liabilities
|
|
10,141
|
|
12,104
|
|
1,875
|
|
|
|
|
|
|
|
Total Liabilities
|
|
1,235,613
|
|
979,871
|
|
151,762
|
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
|
|
June
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
Ordinary
shares
|
|
70
|
|
70
|
|
11
|
Less: Treasury
stock
|
|
(85,202)
|
|
(62,272)
|
|
(9,645)
|
Additional paid-in
capital
|
|
7,327,148
|
|
7,334,196
|
|
1,135,922
|
Statutory
reserve
|
|
12,624
|
|
12,624
|
|
1,955
|
Accumulated other comprehensive income/(loss)
|
|
9,452
|
|
(3,292)
|
|
(510)
|
Accumulated deficit
|
|
(5,952,085)
|
|
(5,938,888)
|
|
(919,817)
|
Total Yunji
Inc. shareholders' equity
|
|
1,312,007
|
|
1,342,438
|
|
207,916
|
Non-controlling
interests
|
|
2,861
|
|
1,348
|
|
209
|
Total
shareholders' equity
|
|
1,314,868
|
|
1,343,786
|
|
208,125
|
Total liabilities
and shareholders' equity
|
|
2,550,481
|
|
2,323,657
|
|
359,887
|
YUNJI
INC.
|
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME/(LOSS)
(All amounts in
thousands, except for share and per share data, unless otherwise
noted)
|
|
|
|
For the Three
Months Ended
|
|
For the Six Months
Ended
|
|
|
June
30,
2020
|
|
June
30,
2021
|
|
June
30,
2020
|
|
June
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of merchandise,
net
|
|
1,299,325
|
|
472,081
|
|
73,116
|
|
2,745,182
|
|
1,043,969
|
|
161,690
|
Membership program
revenue
|
|
12,333
|
|
1,885
|
|
292
|
|
37,467
|
|
1,885
|
|
292
|
Marketplace
revenue
|
|
159,643
|
|
88,174
|
|
13,656
|
|
317,714
|
|
183,548
|
|
28,428
|
Other
revenues
|
|
15,628
|
|
8,582
|
|
1,329
|
|
35,772
|
|
16,717
|
|
2,589
|
Total
revenues
|
|
1,486,929
|
|
570,722
|
|
88,393
|
|
3,136,135
|
|
1,246,119
|
|
192,999
|
Operating cost and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(1,053,705)
|
|
(370,521)
|
|
(57,386)
|
|
(2,201,728)
|
|
(809,886)
|
|
(125,435)
|
Fulfilment
|
|
(129,004)
|
|
(50,118)
|
|
(7,762)
|
|
(267,090)
|
|
(114,952)
|
|
(17,804)
|
Sales and
marketing
|
|
(228,351)
|
|
(61,477)
|
|
(9,522)
|
|
(480,012)
|
|
(157,802)
|
|
(24,440)
|
Technology and
content
|
|
(58,577)
|
|
(32,407)
|
|
(5,019)
|
|
(116,515)
|
|
(69,895)
|
|
(10,825)
|
General and
administrative
|
|
(70,662)
|
|
(42,888)
|
|
(6,643)
|
|
(145,844)
|
|
(116,956)
|
|
(18,114)
|
Total operating
cost and expenses
|
|
(1,540,299)
|
|
(557,411)
|
|
(86,332)
|
|
(3,211,189)
|
|
(1,269,491)
|
|
(196,618)
|
Other operating
income
|
|
8,200
|
|
2,657
|
|
412
|
|
23,778
|
|
19,571
|
|
3,031
|
(Loss)/income from
operations
|
|
(45,170)
|
|
15,968
|
|
2,473
|
|
(51,276)
|
|
(3,801)
|
|
(588)
|
Financial income,
net
|
|
28,232
|
|
7,795
|
|
1,207
|
|
18,428
|
|
28,281
|
|
4,380
|
Foreign exchange
(loss)/income, net
|
|
(3,662)
|
|
(1,248)
|
|
(193)
|
|
2,359
|
|
(1,077)
|
|
(167)
|
Other non-operating
income, net
|
|
-
|
|
7,489
|
|
1,160
|
|
-
|
|
8,402
|
|
1,301
|
(Loss)/income
before income tax
benefit/(expense), and equity in loss
of affiliates, net of tax
|
|
(20,600)
|
|
30,004
|
|
4,647
|
|
(30,489)
|
|
31,805
|
|
4,926
|
Income tax
benefit/(expense)
|
|
3,305
|
|
(7,714)
|
|
(1,195)
|
|
160
|
|
(10,963)
|
|
(1,698)
|
Equity in loss of
affiliates, net of tax
|
|
(203)
|
|
(5,332)
|
|
(826)
|
|
(407)
|
|
(7,856)
|
|
(1,217)
|
Net
(loss)/income
|
|
(17,498)
|
|
16,958
|
|
2,626
|
|
(30,736)
|
|
12,986
|
|
2,011
|
Less: net loss
attributable to non-
controlling interests shareholders
|
|
(5,548)
|
|
(56)
|
|
(9)
|
|
(5,676)
|
|
(205)
|
|
(32)
|
Net (loss)/income
attributable to
YUNJI INC.
|
|
(11,950)
|
|
17,014
|
|
2,635
|
|
(25,060)
|
|
13,191
|
|
2,043
|
YUNJI
INC.
|
|
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME/(LOSS) (CONTINUED)
(All amounts
in thousands, except for share and per share data, unless otherwise
noted)
|
|
|
For the Three
Months Ended
|
|
For the Six Months
Ended
|
|
|
June
30,
2020
|
|
June
30,
2021
|
|
June
30,
2020
|
|
June
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Net (loss)/income
attributable to
ordinary shareholders
|
|
(11,950)
|
|
17,014
|
|
2,635
|
|
(25,060)
|
|
13,191
|
|
2,043
|
Net
(loss)/income
|
|
(17,498)
|
|
16,958
|
|
2,626
|
|
(30,736)
|
|
12,986
|
|
2,011
|
Other comprehensive
(loss)/income
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation
adjustment
|
|
(666)
|
|
(19,219)
|
|
(2,977)
|
|
17,583
|
|
(12,744)
|
|
(1,974)
|
Total
comprehensive (loss)/income
|
|
(18,164)
|
|
(2,261)
|
|
(351)
|
|
(13,153)
|
|
242
|
|
37
|
Less: total
comprehensive loss
attributable to non-controlling
interests shareholders
|
|
(5,548)
|
|
(56)
|
|
(9)
|
|
(5,676)
|
|
(205)
|
|
(32)
|
Total
comprehensive (loss)/income
attributable to YUNJI INC.
|
|
(12,616)
|
|
(2,205)
|
|
(342)
|
|
(7,477)
|
|
447
|
|
69
|
Net (loss)/income
attributable to
ordinary shareholders
|
|
(11,950)
|
|
17,014
|
|
2,635
|
|
(25,060)
|
|
13,191
|
|
2,043
|
Weighted average
number of
ordinary shares used in computing
net loss per share, basic and diluted
|
|
2,124,741,188
|
|
2,140,954,126
|
|
2,140,954,126
|
|
2,124,450,699
|
|
2,137,900,343
|
|
2,137,900,343
|
Net loss per share
attributable to
ordinary shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.01)
|
|
0.01
|
|
-
|
|
(0.01)
|
|
0.01
|
|
-
|
Diluted
|
|
(0.01)
|
|
0.01
|
|
-
|
|
(0.01)
|
|
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 Six Months
Ended
|
|
|
June
30,
2020
|
|
June
30,
2021
|
|
June
30,
2020
|
|
June
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Share-based
compensation expenses included
in:
|
|
|
|
|
|
|
|
|
|
|
|
|
Technology and
content
|
|
3,388
|
|
787
|
|
122
|
|
7,357
|
|
2,681
|
|
415
|
General and
administrative
|
|
27,669
|
|
5,934
|
|
919
|
|
56,729
|
|
24,781
|
|
3,838
|
Fulfillment
|
|
3,644
|
|
(152)
|
|
(24)
|
|
7,706
|
|
(215)
|
|
(33)
|
Sales and
marketing
|
|
2,884
|
|
335
|
|
52
|
|
5,105
|
|
695
|
|
108
|
Total
|
|
37,585
|
|
6,904
|
|
1,069
|
|
76,897
|
|
27,942
|
|
4,328
|
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 Six Months
Ended
|
|
|
June
30,
2020
|
|
June
30,
2021
|
|
June
30,
2020
|
|
June
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Reconciliation of
Net (loss)/income to
Adjusted Net Income:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
(loss)/income
|
|
(17,498)
|
|
16,958
|
|
2,626
|
|
(30,736)
|
|
12,986
|
|
2,011
|
Add: Share-based compensation
|
|
37,585
|
|
6,904
|
|
1,069
|
|
76,897
|
|
27,942
|
|
4,328
|
Adjusted net
income
|
|
20,087
|
|
23,862
|
|
3,695
|
|
46,161
|
|
40,928
|
|
6,339
|
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 RMB6.4566 to US$1.00, the exchange
rate in effect as of June 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. "Average
spending per buyer" in a given period is calculated by dividing
total GMV in that period by the number of buyers in the same
period. "Buyer" in a given period refers to a user who places at
least one order on Yunji's platform during such period, regardless
of whether any product in such order is ultimately sold or
delivered or whether any product in such order is
returned.
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.
5. As of June 30,
2021, the balance of long-term investment mainly represented equity
securities with readily determinable fair value, which was
remeasured based upon market price at each period end and recorded
the unrealized changes in Financial income, net, in the Unaudited
Condensed Consolidation Statements of Comprehensive
Income/(loss).
|
View original
content:https://www.prnewswire.com/news-releases/yunji-announces-second-quarter-2021-unaudited-financial-results-301363430.html
SOURCE Yunji Inc.