HANGZHOU, China, Nov. 29, 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 third quarter ended
September 30, 2022[1].
Third Quarter 2022 Highlights
- Total revenues in the third quarter of 2022 were
RMB238.9 million (US$33.6 million), compared with RMB437.9 million in the same period of 2021. The
decrease was primarily due to the Company's continued strategy to
refine its product selection across all categories and optimize its
selection of suppliers and merchants, causing near-term decreases
in sales, and a decline in consumers' willingness to spend on
discretionary products in the third quarter of 2022, compared with
that in the same period of 2021[2].
- Repeat purchase rate[3] in the twelve months
ended September 30, 2022 was
78.7%.
Mr. Shanglue Xiao, Chairman and Chief Executive Officer of
Yunji, said, "The challenging macro environment and ongoing strict
pandemic control measures continued to act as headwinds during the
third quarter of 2022. Nevertheless, we strengthened and enhanced
our platform infrastructure by remaining focused on executing our
product curation strategy while proactively fine-tuning our
operating strategy. In addition, we further optimized our sales
channels by leveraging big data analysis to improve our services.
We continued to add value to our customers by providing increased
support to our service managers to ensure that they always provide
professional and in-depth service to our customers. Furthermore, we
cultivated our vertical offerings by increasing the proportion of
healthcare products with high repurchase rates and
affordably-priced, high-quality products in our product mix."
"In the third quarter of 2022, we further improved our gross
margin to 49.4% compared with 43.2% in the same period of 2021. At
the same time, we continued to optimize our cost structure to
improve operational efficiency. Going forward, we aim to maintain a
healthy balance sheet by retaining our sharp focus on cost controls
and cash flow management." said Mr. Peng
Zhang, Yunji's Vice President of Finance.
Third Quarter 2022 Unaudited Financial Results
Total revenues were RMB238.9
million (US$33.6 million),
compared with RMB437.9 million in the
same period of 2021. This decrease was primarily due to (i) the
Company's continued strategy to refine its product selection across
all categories and optimize its selection of suppliers and
merchants, causing near-term decreases in sales, and (ii) a decline
in consumers' willingness to spend on discretionary products in the
third quarter of 2022 compared with that in the same period of
2021[2].
- Revenues from sales of merchandise were RMB196.9 million (US$27.7
million), compared with RMB365.5
million in the same period of 2021.
- Revenues from the marketplace business were RMB38.1 million (US$5.4
million), compared with RMB64.7
million in the same period of 2021.
- Other revenues were RMB3.9
million (US$0.5 million),
compared with RMB7.7 million in the
same period of 2021.
Total cost of revenues decreased by 51.4% to
RMB120.9 million (US$17.0 million), or 50.6% of total revenues,
from RMB248.6 million, or 56.8% of
total revenues, in the same period of 2021. 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 2022.
Total operating expenses decreased by 28.5% to
RMB138.5 million (US$19.5 million) from RMB193.8 million in the same period of 2021.
- Fulfillment expenses decreased by 9.1% to RMB36.9 million (US$5.2
million), or 15.4% of total revenues, from RMB40.6 million, or 9.3% of total revenues, in
the same period of 2021. The decrease was primarily due to (i)
reduced warehousing and logistics expenses due to lower merchandise
sales, and (ii) decreased service fees charged by third-party
payment settlement platforms.
- Sales and marketing expenses decreased by 21.5% to
RMB47.0 million (US$6.6 million), or 19.7% of total revenues, from
RMB59.8 million, or 13.7% of total
revenues, in the same period of 2021. The decrease was mainly due
to (i) the reduction in personnel costs as a result of staffing
structure refinements, and (ii) a decrease in member management
fees, partially offset by an increase in private label promotion
expenses.
- Technology and content expenses decreased by 41.7% to
RMB16.6 million (US$2.3 million), or 7.0% of total revenues, from
RMB28.5 million, or 6.5% of total
revenues, in the same period of 2021. The decrease was mainly due
to (i) the reduction in personnel costs as a result of staffing
structure refinements, and (ii) reduced cloud services costs.
- General and administrative expenses decreased by 41.4%
to RMB38.0 million (US$5.3 million), or 15.9% of total revenues, from
RMB64.8 million, or 14.8% of total
revenues, in the same period of 2021, primarily due to (i) reduced
personnel costs as a result of staffing structure refinements, (ii)
lower professional service fees, and (iii) a decrease in
share-based compensation expenses.
Loss from operations was RMB17.9 million (US$2.5
million), compared with income from operations of
RMB17.6 million in the same period of
2021.
Financial income, net was RMB0.3
million (US$0.04 million),
compared with financial loss, net of RMB30.1
million in the same period of 2021, primarily due to an
increase in interest income, partially offset by interest expense
and loss from fair value changes of equity securities
investments.
Net loss was RMB38.2
million (US$5.4 million),
compared with net income of RMB61.4
million in the same period of 2021.
Adjusted net loss (non-GAAP)[4] was
RMB29.6 million (US$4.2 million), compared with adjusted net
income of RMB76.3 million in the same
period of 2021.
Basic and diluted net loss per share attributable to
ordinary shareholders were both RMB0.02, compared with basic and diluted net
earnings per share attributable to ordinary shareholders of
RMB0.03 in the same period of
2021.
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 Tuesday, November 29, 2022, at 7:00 A.M. Eastern Time or 8:00 P.M. Beijing/Hong Kong Time to discuss its
earnings. Listeners may access the call by dialing the following
numbers:
International:
|
1-412-902-4272
|
United States Toll
Free:
|
1-888-346-8982
|
Mainland China Toll
Free:
|
4001-201203
|
Hong Kong Toll
Free:
|
800-905945
|
Conference
ID:
|
Yunji Inc.
|
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
|
1-877-344-7529
|
International
|
1-412-317-0088
|
Replay Access
Code
|
8403978
|
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,
2021
|
|
September
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
|
Current Assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
567,204
|
|
318,625
|
|
44,792
|
Restricted cash
|
|
62,528
|
|
36,943
|
|
5,193
|
Short-term
investments
|
|
380,052
|
|
214,995
|
|
30,223
|
Accounts receivable,
net (Allowance for
credit losses of RMB7,225 and
RMB13,812, respectively)
|
|
118,166
|
|
135,182
|
|
19,004
|
Advance to
suppliers
|
|
59,437
|
|
57,459
|
|
8,077
|
Inventories,
net
|
|
84,500
|
|
79,291
|
|
11,147
|
Amounts due from
related parties
|
|
2,532
|
|
1,193
|
|
168
|
Prepaid expenses and
other current assets
(Allowance for credit losses of RMB4,791
and RMB4,692, respectively)
|
|
430,717
|
|
430,386
|
|
60,503
|
|
|
|
|
|
|
|
Total current assets
|
|
1,705,136
|
|
1,274,074
|
|
179,107
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Property and equipment, net
|
|
12,842
|
|
162,153
|
|
22,795
|
Long-term
investments
|
|
381,401
|
|
416,057
|
|
58,488
|
Deferred tax
assets
|
|
17,497
|
|
8,643
|
|
1,215
|
Operating lease
right-of-use assets, net
|
|
5,420
|
|
1,819
|
|
256
|
Other non-current
assets (Allowance for
credit losses of RMB488 and RMB474,
respectively)
|
|
227,674
|
|
141,920
|
|
19,951
|
|
|
|
|
|
|
|
Total non-current assets
|
|
644,834
|
|
730,592
|
|
102,705
|
|
|
|
|
|
|
|
Total
assets
|
|
2,349,970
|
|
2,004,666
|
|
281,812
|
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,
2021
|
|
September
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
LIABILITIES AND
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
|
|
Accounts
payable
|
|
254,839
|
|
153,958
|
|
21,643
|
Deferred
revenue
|
|
105,752
|
|
18,605
|
|
2,616
|
Incentive payables to
members[5]
|
|
265,612
|
|
225,994
|
|
31,770
|
Member management fees
payable
|
|
15,570
|
|
12,505
|
|
1,758
|
Other payable and
accrued liabilities
|
|
202,786
|
|
154,585
|
|
21,731
|
Amounts due to related
parties
|
|
15,630
|
|
9,810
|
|
1,379
|
Operating lease
liabilities - current
|
|
5,571
|
|
3,439
|
|
483
|
|
|
|
|
|
|
|
Total current liabilities
|
|
865,760
|
|
578,896
|
|
81,380
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Operating lease
liabilities
|
|
3,123
|
|
1,218
|
|
171
|
Deferred tax
liabilities
|
|
2,572
|
|
-
|
|
-
|
|
|
|
|
|
|
|
Total non-current
liabilities
|
|
5,695
|
|
1,218
|
|
171
|
|
|
|
|
|
|
|
Total Liabilities
|
|
871,455
|
|
580,114
|
|
81,551
|
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,
2021
|
|
September
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
Ordinary
shares
|
|
70
|
|
70
|
|
10
|
Less: Treasury
stock
|
|
(44,228)
|
|
(77,863)
|
|
(10,946)
|
Additional paid-in
capital
|
|
7,342,344
|
|
7,326,390
|
|
1,029,928
|
Statutory
reserve
|
|
14,019
|
|
14,019
|
|
1,971
|
Accumulated other comprehensive
(loss)/income
|
|
(15,664)
|
|
78,355
|
|
11,015
|
Accumulated deficit
|
|
(5,818,645)
|
|
(5,917,284)
|
|
(831,839)
|
Total Yunji
Inc. shareholders' equity
|
|
1,477,896
|
|
1,423,687
|
|
200,139
|
Non-controlling
interests
|
|
619
|
|
865
|
|
122
|
Total shareholders'
equity
|
|
1,478,515
|
|
1,424,552
|
|
200,261
|
Total liabilities
and shareholders' equity
|
|
2,349,970
|
|
2,004,666
|
|
281,812
|
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 Nine Months
Ended
|
|
|
September
30,
2021
|
|
September
30,
2022
|
|
September
30,
2021
|
|
September
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of
merchandise, net
|
|
365,467
|
|
196,928
|
|
27,684
|
|
1,409,436
|
|
724,518
|
|
101,851
|
Marketplace
revenue
|
|
64,689
|
|
38,074
|
|
5,352
|
|
248,237
|
|
127,640
|
|
17,943
|
Other
revenues
|
|
7,702
|
|
3,889
|
|
547
|
|
26,304
|
|
13,263
|
|
1,865
|
Total
revenues
|
|
437,858
|
|
238,891
|
|
33,583
|
|
1,683,977
|
|
865,421
|
|
121,659
|
Operating cost and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(248,581)
|
|
(120,933)
|
|
(17,001)
|
|
(1,058,467)
|
|
(481,008)
|
|
(67,619)
|
Fulfilment
|
|
(40,571)
|
|
(36,885)
|
|
(5,185)
|
|
(155,523)
|
|
(128,866)
|
|
(18,116)
|
Sales and
marketing
|
|
(59,842)
|
|
(46,998)
|
|
(6,607)
|
|
(217,644)
|
|
(155,841)
|
|
(21,908)
|
Technology and
content
|
|
(28,537)
|
|
(16,640)
|
|
(2,339)
|
|
(98,432)
|
|
(64,392)
|
|
(9,052)
|
General and
administrative
|
|
(64,840)
|
|
(38,000)
|
|
(5,342)
|
|
(181,796)
|
|
(100,937)
|
|
(14,189)
|
Total operating cost
and expenses
|
|
(442,371)
|
|
(259,456)
|
|
(36,474)
|
|
(1,711,862)
|
|
(931,044)
|
|
(130,884)
|
Other operating
income
|
|
22,116
|
|
2,669
|
|
375
|
|
41,687
|
|
20,195
|
|
2,839
|
Income/(loss) from
operations
|
|
17,603
|
|
(17,896)
|
|
(2,516)
|
|
13,802
|
|
(45,428)
|
|
(6,386)
|
Financial
(loss)/income, net
|
|
(30,064)
|
|
302
|
|
42
|
|
(1,783)
|
|
(22,709)
|
|
(3,192)
|
Foreign exchange
gain/(loss), net
|
|
58
|
|
(11,295)
|
|
(1,588)
|
|
(1,019)
|
|
(19,008)
|
|
(2,672)
|
Other
non-operating income/(loss),
net
|
|
110,484
|
|
(2)
|
|
-
|
|
118,886
|
|
2,061
|
|
290
|
Income/(loss) before
income tax
expense, and equity in loss of
affiliates, net of tax
|
|
98,081
|
|
(28,891)
|
|
(4,062)
|
|
129,886
|
|
(85,084)
|
|
(11,960)
|
Income tax
expense
|
|
(29,982)
|
|
(9,042)
|
|
(1,271)
|
|
(40,945)
|
|
(13,447)
|
|
(1,890)
|
Equity in loss
of affiliates, net of tax
|
|
(6,745)
|
|
(313)
|
|
(44)
|
|
(14,601)
|
|
(1,642)
|
|
(231)
|
Net
income/(loss)
|
|
61,354
|
|
(38,246)
|
|
(5,377)
|
|
74,340
|
|
(100,173)
|
|
(14,081)
|
Less: net income/
(loss) attributable to
non-controlling interests shareholders
|
|
511
|
|
(7)
|
|
(1)
|
|
306
|
|
(223)
|
|
(31)
|
Net income/(loss)
attributable to
YUNJI INC.
|
|
60,843
|
|
(38,239)
|
|
(5,376)
|
|
74,034
|
|
(99,950)
|
|
(14,050)
|
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 Nine Months
Ended
|
|
|
September
30,
2021
|
|
September
30,
2022
|
|
September
30,
2021
|
|
September
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Net income/(loss)
attributable to
ordinary shareholders
|
|
60,843
|
|
(38,239)
|
|
(5,376)
|
|
74,034
|
|
(99,950)
|
|
(14,050)
|
Net
income/(loss)
|
|
61,354
|
|
(38,246)
|
|
(5,377)
|
|
74,340
|
|
(100,173)
|
|
(14,081)
|
Other comprehensive
income/ (loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation
adjustment
|
|
4,149
|
|
45,955
|
|
6,460
|
|
(8,595)
|
|
94,019
|
|
13,217
|
Total comprehensive
income/(loss)
|
|
65,503
|
|
7,709
|
|
1,083
|
|
65,745
|
|
(6,154)
|
|
(864)
|
Less: total
comprehensive
income/(loss) attributable to non-
controlling interests shareholders
|
|
511
|
|
(7)
|
|
(1)
|
|
306
|
|
(223)
|
|
(31)
|
Total comprehensive
income/ (loss)
attributable to YUNJI INC.
|
|
64,992
|
|
7,716
|
|
1,084
|
|
65,439
|
|
(5,931)
|
|
(833)
|
Net income/(loss)
attributable to
ordinary shareholders
|
|
60,843
|
|
(38,239)
|
|
(5,376)
|
|
74,034
|
|
(99,950)
|
|
(14,050)
|
Weighted average number
of ordinary
shares used in computing net
earnings/(loss) per share, basic and
diluted
|
|
2,141,585,609
|
|
2,068,653,859
|
|
2,068,653,859
|
|
2,139,142,265
|
|
2,108,265,844
|
|
2,108,265,844
|
Net earnings/(loss)
per share
attributable to ordinary
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
0.03
|
|
(0.02)
|
|
-
|
|
0.03
|
|
(0.05)
|
|
(0.01)
|
Diluted
|
|
0.03
|
|
(0.02)
|
|
-
|
|
0.03
|
|
(0.05)
|
|
(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,
2021
|
|
September
30,
2022
|
|
September
30,
2021
|
|
September
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Share-based
compensation expenses included
in:
|
|
|
|
|
|
|
|
|
|
|
|
|
Technology and
content
|
|
1,100
|
|
1,072
|
|
151
|
|
3,781
|
|
3,236
|
|
456
|
General and
administrative
|
|
12,517
|
|
7,269
|
|
1,022
|
|
37,298
|
|
18,668
|
|
2,624
|
Fulfillment
|
|
809
|
|
94
|
|
13
|
|
594
|
|
924
|
|
130
|
Sales and
marketing
|
|
482
|
|
252
|
|
35
|
|
1,177
|
|
60
|
|
8
|
Total
|
|
14,908
|
|
8,687
|
|
1,221
|
|
42,850
|
|
22,888
|
|
3,218
|
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,
2021
|
|
September
30,
2022
|
|
September
30,
2021
|
|
September
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Reconciliation of
Net
income/(loss) to Adjusted Net
income/(loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
|
61,354
|
|
(38,246)
|
|
(5,377)
|
|
74,340
|
|
(100,173)
|
|
(14,081)
|
Add: Share-based compensation
|
|
14,908
|
|
8,687
|
|
1,221
|
|
42,850
|
|
22,888
|
|
3,218
|
Adjusted net
income/(loss)
|
|
76,262
|
|
(29,559)
|
|
(4,156)
|
|
117,190
|
|
(77,285)
|
|
(10,863)
|
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 RMB7.1135 to US$1.00, the exchange rate in effect as
of September 30, 2022 as set forth in the H.10 statistical release
of The Board of Governors of the Federal Reserve System.
|
2. According to the
National Bureau of Statistics of China.
|
3. "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.
|
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 September 30,
2022, the decrease in incentive payables was mainly due to
derecognition of long-aged payables to inactive members starting
this year.
|
View original
content:https://www.prnewswire.com/news-releases/yunji-announces-third-quarter-2022-unaudited-financial-results-301688655.html
SOURCE Yunji Inc.