HANGZHOU, China, Nov. 29, 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 third quarter ended September 30, 2021[1].
Third Quarter 2021 Highlights
- Total revenues in the third quarter of 2021 were
RMB437.9 million (US$68.0 million), compared with RMB1,066.7 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 September 30, 2021 was
80.6%.
Mr. Shanglue Xiao, Chairman and Chief Executive Officer of
Yunji, said, "In the third quarter, we continued to execute our
product curation and supply chain differentiation strategies.
Leveraging our differentiated supply chain, we have launched a
series of private label products, ranging across a variety of
categories including food, cosmetics, supplements, and more. We
strive to continually improve our repeat purchase rate and achieve
widespread product-market fit for our branded products. We remain
optimistic in our differentiated supply chain matrix providing our
members with great value."
"As we continued to successfully execute the initiative to
refine our product pool, our gross margin continued to improve. We
recorded income from operations of RMB17.6
million (US$2.7 million) in
the third quarter of 2021, compared with RMB16.0 million in the second quarter of 2021 and
loss from operations of RMB24.4
million in the third quarter of 2020. We also recorded net
income of RMB61.4 million
(US$9.5 million) in the third quarter
of 2021, compared with net income of RMB17.0
million in the second quarter of 2021 and net loss of
RMB43.6 in the third quarter of 2020.
Going forward, we believe our strategy to continue developing
private-label brands will generate lasting value for our
shareholders." said Mr. Chengqi Zhang, Yunji's Vice President of
Finance.
Third Quarter 2021 Unaudited Financial Results
Total revenues were RMB437.9
million (US$68.0 million),
compared with RMB1,066.7 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 60.2% to
RMB365.5 million (US$56.7 million) from RMB919.0 million in the same period of 2020.
- Revenues from the membership program were RMB1.7 million, compared with RMB4.9 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 third 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 RMB64.7 million (US$10.0
million), compared with RMB130.4
million in the same period of 2020.
- Other revenues decreased by 51.1% to RMB6.0 million (US$0.9
million) from RMB12.3 million
in the same period of 2020.
Total cost of revenues decreased by 66.9% to
RMB248.6 million (US$38.6 million), or 56.8% of total revenues,
from RMB751.7 million, or 70.5% 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 third quarter of 2021.
Total operating expenses decreased by 43.6% to
RMB193.8 million (US$30.1 million) from RMB343.6 million in the same period of 2020.
- Fulfillment expenses decreased by 55.2% to
RMB40.6 million (US$6.3 million), or 9.3% of total revenues, from
RMB90.5 million, or 8.5% 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 62.3% to
RMB59.8 million (US$9.3 million), or 13.7% of total revenues, from
RMB158.9 million, or 14.9% 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 32.6% to
RMB28.5 million (US$4.4 million), or 6.5% of total revenues, from
RMB42.3 million, or 4.0% 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 increased by
25.1% to RMB64.8 million
(US$10.1 million), or 14.8% of total
revenues, from RMB51.8 million, or
4.9% of total revenues, in the same period of 2020, primarily due
to an increase in share-based compensation expenses.
Income from operations was RMB17.6 million (US$2.7
million), compared with loss from operations of RMB24.4 million in the same period of 2020.
Financial loss, net was RMB30.1
million (US$4.7 million),
compared with RMB19.6 million in the
same period of 2020, primarily due to decreased fair value of
equity securities with readily determinable fair value.
Other non-operating income, net was RMB110.5 million (US$17.1
million) in the third quarter of 2021 compared with nil in
the same period of 2020. The income in the third quarter of 2021
was recognized from the Company's investment in a fast-growing
dairy company in China. The
investment was initially recorded under equity method and changed
to alternative measurement when the Company lost its significant
influence. The RMB 110.5 million
(US$17.1 million) gain was recognized
based on fair value of investment made by a new third-party
investor, resulting in dilution of the Company's shareholding
interest.
Net Income was RMB61.4
million (US$9.5 million),
compared with net loss of RMB43.6
million in the same period of 2020.
Adjusted net income
(non-GAAP)[3] was
RMB76.3 million (US$11.8 million), compared with adjusted net loss
of RMB36.4 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 RMB0.02 in the same period of 2020.
Change in Management
Mr. Wei Ye has resigned as
executive president of the Company due to personal reasons,
effective December 1, 2021. Mr. Ye's
resignation did not result from any disagreement with the
Company.
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 Monday, November 29, 2021, at 6:30 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
|
100928
|
Registration
Link
|
http://apac.directeventreg.com/registration/event/1009298
|
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
|
1009298
|
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
|
|
September
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
|
Current Assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
1,063,900
|
|
721,883
|
|
112,034
|
Restricted cash
|
|
125,844
|
|
166,746
|
|
25,879
|
Short-term
investments
|
|
134,146
|
|
263,006
|
|
40,818
|
Accounts receivable,
net (Allowance for
credit losses of RMB8,603 and
RMB5,435, respectively)
|
|
164,733
|
|
97,185
|
|
15,083
|
Advance to
suppliers
|
|
103,836
|
|
67,424
|
|
10,465
|
Inventories,
net
|
|
135,245
|
|
107,794
|
|
16,729
|
Amounts due from
related parties
|
|
7,841
|
|
1,073
|
|
166
|
Prepaid expenses and
other current assets
(Allowance for credit losses of RMB2,972
and RMB9,301, respectively)
|
|
410,423
|
|
363,617
|
|
56,433
|
|
|
|
|
|
|
|
Total current assets
|
|
2,145,968
|
|
1,788,728
|
|
277,607
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Property and equipment, net
|
|
26,010
|
|
14,602
|
|
2,266
|
Long-term
investments
|
|
158,931
|
|
301,541
|
|
46,798
|
Deferred tax
assets
|
|
59,455
|
|
15,663
|
|
2,431
|
Operating lease
right-of-use assets, net
|
|
11,324
|
|
7,218
|
|
1,120
|
Other non-current
assets (Allowance for
credit losses of RMB1,514 and
RMB2,120, respectively)
|
|
148,793
|
|
193,343
|
|
30,006
|
|
|
|
|
|
|
|
Total non-current assets
|
|
404,513
|
|
532,367
|
|
82,621
|
|
|
|
|
|
|
|
Total
assets
|
|
2,550,481
|
|
2,321,095
|
|
360,228
|
|
|
|
|
|
|
|
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
|
|
September
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
LIABILITIES,
MEZZANINE EQUITY AND
SHAREHOLDERS' (DEFICITS)/EQUITY
|
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
|
|
Accounts
payable
|
|
501,549
|
|
297,529
|
|
46,176
|
Deferred
revenue
|
|
50,951
|
|
79,504
|
|
12,339
|
Incentive payables to
members
|
|
312,170
|
|
269,527
|
|
41,830
|
Refund payable to
members
|
|
4,398
|
|
1,319
|
|
205
|
Member management
fees payable
|
|
45,841
|
|
20,524
|
|
3,185
|
Other payable and
accrued liabilities
|
|
280,586
|
|
202,027
|
|
31,354
|
Amounts due to
related parties
|
|
22,989
|
|
13,208
|
|
2,050
|
Operating lease
liabilities - current
|
|
6,988
|
|
6,032
|
|
936
|
|
|
|
|
|
|
|
Total current liabilities
|
|
1,225,472
|
|
889,670
|
|
138,075
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Operating lease
liabilities
|
|
8,309
|
|
5,334
|
|
828
|
Deferred tax
liabilities
|
|
1,832
|
|
2,998
|
|
465
|
|
|
|
|
|
|
|
Total non-current
liabilities
|
|
10,141
|
|
8,332
|
|
1,293
|
|
|
|
|
|
|
|
Total Liabilities
|
|
1,235,613
|
|
898,002
|
|
139,368
|
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
|
|
September
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
Ordinary
shares
|
|
70
|
|
70
|
|
11
|
Less: Treasury
stock
|
|
(85,202)
|
|
(60,765)
|
|
(9,431)
|
Additional paid-in
capital
|
|
7,327,148
|
|
7,347,658
|
|
1,140,339
|
Statutory
reserve
|
|
12,624
|
|
12,624
|
|
1,959
|
Accumulated other comprehensive income
|
|
9,452
|
|
857
|
|
133
|
Accumulated deficit
|
|
(5,952,085)
|
|
(5,878,011)
|
|
(912,253)
|
Total Yunji
Inc. shareholders' equity
|
|
1,312,007
|
|
1,422,433
|
|
220,758
|
Non-controlling
interests
|
|
2,861
|
|
660
|
|
102
|
Total
shareholders' equity
|
|
1,314,868
|
|
1,423,093
|
|
220,860
|
Total liabilities
and shareholders' equity
|
|
2,550,481
|
|
2,321,095
|
|
360,228
|
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 Nine
Months Ended
|
|
|
September
30,
2020
|
|
September
30,
2021
|
|
September
30,
2020
|
|
September
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of merchandise,
net
|
|
919,043
|
|
365,467
|
|
56,720
|
|
3,664,225
|
|
1,409,436
|
|
218,741
|
Membership program
revenue
|
|
4,925
|
|
1,688
|
|
262
|
|
42,392
|
|
3,573
|
|
555
|
Marketplace
revenue
|
|
130,437
|
|
64,689
|
|
10,039
|
|
448,151
|
|
248,237
|
|
38,526
|
Other
revenues
|
|
12,305
|
|
6,014
|
|
933
|
|
48,077
|
|
22,731
|
|
3,528
|
Total
revenues
|
|
1,066,710
|
|
437,858
|
|
67,954
|
|
4,202,845
|
|
1,683,977
|
|
261,350
|
Operating cost and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(751,701)
|
|
(248,581)
|
|
(38,579)
|
|
(2,953,430)
|
|
(1,058,467)
|
|
(164,272)
|
Fulfilment
|
|
(90,543)
|
|
(40,571)
|
|
(6,297)
|
|
(357,632)
|
|
(155,523)
|
|
(24,137)
|
Sales and
marketing
|
|
(158,905)
|
|
(59,842)
|
|
(9,287)
|
|
(638,917)
|
|
(217,644)
|
|
(33,778)
|
Technology and
content
|
|
(42,330)
|
|
(28,537)
|
|
(4,429)
|
|
(158,844)
|
|
(98,432)
|
|
(15,276)
|
General and
administrative
|
|
(51,838)
|
|
(64,840)
|
|
(10,063)
|
|
(197,681)
|
|
(181,796)
|
|
(28,214)
|
Total operating
cost and expenses
|
|
(1,095,317)
|
|
(442,371)
|
|
(68,655)
|
|
(4,306,504)
|
|
(1,711,862)
|
|
(265,677)
|
Other operating
income
|
|
4,218
|
|
22,116
|
|
3,432
|
|
27,995
|
|
41,687
|
|
6,470
|
(Loss)/income from
operations
|
|
(24,389)
|
|
17,603
|
|
2,731
|
|
(75,664)
|
|
13,802
|
|
2,143
|
Financial loss,
net
|
|
(19,596)
|
|
(30,064)
|
|
(4,666)
|
|
(1,168)
|
|
(1,783)
|
|
(277)
|
Foreign exchange
(loss)/income, net
|
|
(2,238)
|
|
58
|
|
9
|
|
121
|
|
(1,019)
|
|
(158)
|
Other non-operating
income, net
|
|
-
|
|
110,484
|
|
17,147
|
|
-
|
|
118,886
|
|
18,451
|
(Loss)/income
before income tax
benefit/(expense), and equity in loss
of affiliates, net of tax
|
|
(46,223)
|
|
98,081
|
|
15,221
|
|
(76,711)
|
|
129,886
|
|
20,159
|
Income tax
benefit/(expense)
|
|
4,401
|
|
(29,982)
|
|
(4,653)
|
|
4,561
|
|
(40,945)
|
|
(6,355)
|
Equity in loss of
affiliates, net of tax
|
|
(1,793)
|
|
(6,745)
|
|
(1,047)
|
|
(2,200)
|
|
(14,601)
|
|
(2,266)
|
Net
(loss)/income
|
|
(43,615)
|
|
61,354
|
|
9,521
|
|
(74,350)
|
|
74,340
|
|
11,538
|
Less: net
(loss)/income attributable to
non-controlling interests shareholders
|
|
(1,209)
|
|
511
|
|
79
|
|
(6,885)
|
|
306
|
|
47
|
Net (loss)/income
attributable to
YUNJI
INC.
|
|
(42,406)
|
|
60,843
|
|
9,442
|
|
(67,465)
|
|
74,034
|
|
11,491
|
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 Nine
Months Ended
|
|
|
September
30,
2020
|
|
September
30,
2021
|
|
September
30,
2020
|
|
September
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Net (loss)/income
attributable to
ordinary shareholders
|
|
(42,406)
|
|
60,843
|
|
9,442
|
|
(67,465)
|
|
74,034
|
|
11,491
|
Net
(loss)/income
|
|
(43,615)
|
|
61,354
|
|
9,521
|
|
(74,350)
|
|
74,340
|
|
11,538
|
Other comprehensive
(loss)/income
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation
adjustment
|
|
(46,904)
|
|
4,149
|
|
644
|
|
(29,321)
|
|
(8,595)
|
|
(1,334)
|
Total
comprehensive (loss)/income
|
|
(90,519)
|
|
65,503
|
|
10,165
|
|
(103,671)
|
|
65,745
|
|
10,204
|
Less: total
comprehensive
(loss)/income attributable to non-
controlling interests shareholders
|
|
(1,209)
|
|
511
|
|
79
|
|
(6,885)
|
|
306
|
|
47
|
Total
comprehensive (loss)/income
attributable to YUNJI INC.
|
|
(89,310)
|
|
64,992
|
|
10,086
|
|
(96,786)
|
|
65,439
|
|
10,157
|
Net (loss)/income
attributable to
ordinary shareholders
|
|
(42,406)
|
|
60,843
|
|
9,442
|
|
(67,465)
|
|
74,034
|
|
11,491
|
Weighted average
number of
ordinary shares used in computing
net (loss)/earnings per share, basic
and diluted
|
|
2,125,377,454
|
|
2,141,585,609
|
|
2,141,585,609
|
|
2,124,763,012
|
|
2,139,142,265
|
|
2,139,142,265
|
Net
(loss)/earnings per share
attributable to ordinary
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
(0.02)
|
|
0.03
|
|
-
|
|
(0.03)
|
|
0.03
|
|
0.01
|
Diluted
|
|
(0.02)
|
|
0.03
|
|
-
|
|
(0.03)
|
|
0.03
|
|
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 Nine
Months Ended
|
|
|
September
30,
2020
|
|
September
30,
2021
|
|
September
30,
2020
|
|
September
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Share-based
compensation expenses included
in:
|
|
|
|
|
|
|
|
|
|
|
|
|
Technology and
content
|
|
346
|
|
1,100
|
|
171
|
|
7,702
|
|
3,781
|
|
587
|
General and
administrative
|
|
1,006
|
|
12,517
|
|
1,943
|
|
57,736
|
|
37,298
|
|
5,788
|
Fulfillment
|
|
1,609
|
|
809
|
|
125
|
|
9,316
|
|
594
|
|
92
|
Sales and
marketing
|
|
4,262
|
|
482
|
|
75
|
|
9,367
|
|
1,177
|
|
183
|
Total
|
|
7,223
|
|
14,908
|
|
2,314
|
|
84,121
|
|
42,850
|
|
6,650
|
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 Nine
Months Ended
|
|
|
September
30,
2020
|
|
September
30,
2021
|
|
September
30,
2020
|
|
September
30,
2021
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Reconciliation of
Net (loss)/income to
Adjusted Net (loss)/income:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
(loss)/income
|
|
(43,615)
|
|
61,354
|
|
9,521
|
|
(74,350)
|
|
74,340
|
|
11,538
|
Add: Share-based compensation
|
|
7,223
|
|
14,908
|
|
2,314
|
|
84,121
|
|
42,850
|
|
6,650
|
Adjusted net
(loss)/income
|
|
(36,392)
|
|
76,262
|
|
11,835
|
|
9,771
|
|
117,190
|
|
18,188
|
[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 RMB6.4434 to US$1.00, the exchange
rate in effect as of September 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]. 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-third-quarter-2021-unaudited-financial-results-301432728.html
SOURCE Yunji Inc.