In a release issued on November, 24 2020 by Yunji Inc.
(NASDAQ: YJ), please note that multiple changes throughout the
text have been implemented, including in the headline.
The corrected release follows:
Yunji Announces the Signing of a Cooperative
Framework Agreement with Douyin's E-Commerce Business
Yunji Inc. (“Yunji” or the “Company”) (NASDAQ: YJ),
a leading membership-based social e-commerce platform, today
announced that it has signed a cooperative framework agreement (the
“Agreement”) with Douyin's E-Commerce Business. The Agreement’s
establishment is in line with the Company’s strategy of exploring
the live streaming potential of external platforms in such areas as
product supply chain, e-commerce streamer resources, and platform
traffic.
Through the Agreement, the Company will leverage
its online store and video account on Douyin's E-Commerce Business
to introduce and promote more quality products sourced from its
differentiated supply chain. In addition, through attractive live
streaming events on Douyin's E-Commerce Business, the Company will
also be able to expand the influence of the high-quality private
label and joint-venture brands in its network to external platforms
as well as provide a broader consumer base range with access to its
premium products.
On September 25, the Company chose to make its live
streaming debut in a popular streamer’s live streaming room on the
partnered platform. As part of this event, Yunji Founder and CEO
Shanglue Xiao made a guest appearance and introduced a number of
select goods to the audience. This live steaming event reached 10.7
million views and recorded RMB87.5 million in gross merchandise
value (“GMV”). Subsequently, Yunji collaborated with another
popular streamer and achieved good results. During Yunji's Double
Eleven Shopping Carnival, Yunji cooperated with a popular streamer
on the partnered platform and recorded RMB50.2 million in GMV.
Notably, Yunji has generated a cumulative GMV of RMB170.0 million
through the three live streaming events it has hosted on Douyin's
E-Commerce Business to date.
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 RelationsEmail:
Yunji.IR@icrinc.comPhone: +1 (646) 224-6957
ICR, Inc.Xinran RaoEmail: Yunji.IR@icrinc.comPhone:
+1 (646) 224-6957
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