HANGZHOU, China, Aug. 25,
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 second quarter ended June
30, 20221.
Second Quarter 2022 Highlights
- Total revenues in the second quarter of 2022 were
RMB284.0 million (US$42.4 million), compared with RMB570.7 million in the same period of 2021,
primarily due to the negative impact of the outbreaks of the
highly-transmissible Delta and Omicron variants of COVID-19 in the
first half of 2022 on the Company's operations and 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. The COVID-19 outbreaks in the
first half of 2022 have caused varying degrees of temporary
shutdowns and delays in production and operation of the Company's
suppliers (especially private label suppliers), third-party
merchants, third-party logistics service providers and other
business partners, leading to temporary shortages of certain
merchandise and delays in logistics services as well as delays in
the research and development and new product launch processes
associated with the Company's private label suppliers. Consumers'
willingness to spend on discretionary products in the first half of
2022 has also declined compared with that in the same period of
20212. This has negatively affected and may continue to
negatively affect the Company's revenues and operations in 2022,
depending on the future development of the COVID-19 pandemic.
- Repeat purchase rate3 in the twelve months
ended June 30, 2022 was 79.0%.
Mr. Shanglue Xiao, Chairman and Chief Executive Officer of
Yunji, said, "During the second quarter, the resurgence of COVID-19
and widespread pandemic-related control measures limited our
promotional activities and customer outreach efforts, and caused
disruptions throughout our supply chain. In the face of these
transitory macro headwinds, we have been increasingly focused on
our private label brands and optimization of our online marketing
and customer service. In June, as the majority of the areas
impacted by the pandemic returned to a normalized situation, our
operations, including logistics, customer service, and new product
launches, gradually recovered."
"Our financial resilience has enabled us to successfully
navigate this challenging quarter. We improved our gross margin to
40.6% compared with 35.1% in the same period of 2021 and we aim to
further enhance our cost structure to increase operational
efficiency in the second half of 2022." said Mr. Peng Zhang, Yunji's Vice President of
Finance.
Second Quarter 2022 Unaudited Financial Results
Total revenues were RMB284.0
million (US$42.4 million),
compared with RMB570.7 million in the
same period of 2021. This decrease was primarily due to the
negative impact of the outbreaks of the highly-transmissible Delta
and Omicron variants of COVID-19 in the first half of 2022 on the
Company's operations and 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. The COVID-19 outbreaks in the first half of 2022 have
caused varying degrees of temporary shutdowns and delays in
production and operation of the Company's suppliers (especially
private label suppliers), third-party merchants, third-party
logistics service providers and other business partners, leading to
temporary shortages of certain merchandise and delays in logistics
services as well as delays in the research and development and new
product launch processes associated with the Company's private
label suppliers. This has negatively affected and may continue to
negatively affect the Company's revenues and operations in 2022,
depending on the future development of the COVID-19 pandemic.
- Revenues from sales of merchandise, net decreased by 49.8% to
RMB237.1 million (US$35.4 million) from RMB472.1 million in the same period of 2021.
- Revenues from the marketplace business were RMB42.1 million (US$6.3
million), compared with RMB88.2
million in the same period of 2021.
- Other revenues decreased by 55.3% to RMB4.7 million (US$0.7
million) from RMB10.5 million
in the same period of 2021.
Total cost of revenues decreased by 54.5% to
RMB168.8 million (US$25.2 million), or 59.4% of total revenues,
from RMB370.5 million, or 64.9% 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 second quarter of 2022.
Total operating expenses decreased by 16.2% to
RMB156.6 million (US$23.4 million) from RMB186.9 million in the same period of 2021.
- Fulfillment expenses decreased by 14.1% to RMB43.1 million (US$6.4
million), or 15.2% of total revenues, from RMB50.1 million, or 8.8% 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 5.3% to
RMB58.2 million (US$8.7 million), or 20.5% of total revenues, from
RMB61.5 million, or 10.8% of total
revenues, in the same period of 2021. The decrease was mainly due
to a decrease in member management fees, partially offset by an
increase in private label promotion expenses.
- Technology and content expenses decreased by 27.1% to
RMB23.6 million (US$3.5 million), or 8.3% of total revenues, from
RMB32.4 million, or 5.7% 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) reduced server costs.
- General and administrative expenses decreased by 26.1%
to RMB31.7 million (US$4.7 million), or 11.2% of total revenues, from
RMB42.9 million, or 7.5% of total
revenues, in the same period of 2021, primarily due to (i) reduced
personnel costs as a result of staffing structure refinements and
(ii) lower professional service fees.
Loss from operations was RMB30.0 million (US$4.5
million), compared with income from operations of
RMB16.0 million in the same period of
2021.
Financial income, net was RMB12.3
million (US$1.8 million),
compared with RMB7.8 million in the
same period of 2021, primarily due to (i) increased fair value of
equity securities with readily determinable fair value and (ii)
increased wealth management products interest income.
Net loss was RMB25.0
million (US$3.7 million),
compared with net income of RMB17.0
million in the same period of 2021.
Adjusted net loss (non-GAAP)4 was
RMB17.1 million (US$2.6million), compared with adjusted net income
of RMB23.9 million in the same period
of 2021.
Basic and diluted net loss per share attributable to
ordinary shareholders were both RMB0.01, compared with basic and diluted net
earnings per share attributable to ordinary shareholders of
RMB0.01 in the same period of
2021.
Share Repurchase Program
The Company's board of directors has approved to extend the term
of its previously announced US$20
million share repurchase program for another six months. The
Company's board of directors will continue to review the share
repurchase program periodically, and may authorize further
adjustment of its terms and size.
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 25, 2022, at 7:30 A.M. Eastern Time or 7:30 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
|
3420633
|
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
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
|
Current Assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
567,204
|
|
252,432
|
|
37,687
|
Restricted cash
|
|
62,528
|
|
48,811
|
|
7,286
|
Short-term
investments
|
|
380,052
|
|
343,924
|
|
51,346
|
Accounts receivable,
net (Allowance for
credit losses of RMB7,225 and
RMB7,139, respectively)
|
|
118,166
|
|
116,673
|
|
17,419
|
Advance to
suppliers
|
|
59,437
|
|
57,750
|
|
8,622
|
Inventories,
net
|
|
84,500
|
|
97,446
|
|
14,548
|
Amounts due from
related parties
|
|
2,532
|
|
1,926
|
|
288
|
Prepaid expenses and
other current assets
(Allowance for credit losses of RMB4,791
and RMB5,443, respectively)
|
|
430,717
|
|
418,534
|
|
62,486
|
|
|
|
|
|
|
|
Total current assets
|
|
1,705,136
|
|
1,337,496
|
|
199,682
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
|
Property and equipment, net
|
|
12,842
|
|
171,403
|
|
25,590
|
Long-term
investments
|
|
381,401
|
|
412,369
|
|
61,565
|
Deferred tax
assets
|
|
17,497
|
|
15,022
|
|
2,243
|
Operating lease
right-of-use assets, net
|
|
5,420
|
|
2,722
|
|
407
|
Other non-current
assets (Allowance for
credit losses of RMB488 and RMB483,
respectively)
|
|
227,674
|
|
147,297
|
|
21,991
|
|
|
|
|
|
|
|
Total non-current assets
|
|
644,834
|
|
748,813
|
|
111,796
|
|
|
|
|
|
|
|
Total
assets
|
|
2,349,970
|
|
2,086,309
|
|
311,478
|
|
|
|
|
|
|
|
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
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
LIABILITIES AND
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
|
|
Accounts
payable
|
|
254,839
|
|
203,329
|
|
30,356
|
Deferred
revenue
|
|
105,752
|
|
28,078
|
|
4,192
|
Incentive payables to
members5
|
|
265,612
|
|
234,123
|
|
34,954
|
Member management fees
payable
|
|
15,570
|
|
10,320
|
|
1,541
|
Other payable and
accrued liabilities
|
|
202,786
|
|
158,421
|
|
23,652
|
Amounts due to related
parties
|
|
15,630
|
|
11,637
|
|
1,737
|
Operating lease
liabilities - current
|
|
5,571
|
|
4,529
|
|
676
|
|
|
|
|
|
|
|
Total current liabilities
|
|
865,760
|
|
650,437
|
|
97,108
|
|
|
|
|
|
|
|
Non-current
liabilities
|
|
|
|
|
|
|
Operating lease
liabilities
|
|
3,123
|
|
606
|
|
91
|
Deferred tax
liabilities
|
|
2,572
|
|
-
|
|
-
|
|
|
|
|
|
|
|
Total non-current
liabilities
|
|
5,695
|
|
606
|
|
91
|
|
|
|
|
|
|
|
Total Liabilities
|
|
871,455
|
|
651,043
|
|
97,199
|
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
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
Ordinary
shares
|
|
70
|
|
70
|
|
10
|
Less: Treasury
stock
|
|
(44,228)
|
|
(53,143)
|
|
(7,934)
|
Additional paid-in
capital
|
|
7,342,344
|
|
7,320,091
|
|
1,092,861
|
Statutory
reserve
|
|
14,019
|
|
14,019
|
|
2,093
|
Accumulated other comprehensive
(loss)/income
|
|
(15,664)
|
|
32,400
|
|
4,837
|
Accumulated deficit
|
|
(5,818,645)
|
|
(5,879,043)
|
|
(877,718)
|
Total Yunji
Inc. shareholders' equity
|
|
1,477,896
|
|
1,434,394
|
|
214,149
|
Non-controlling
interests
|
|
619
|
|
872
|
|
130
|
Total shareholders'
equity
|
|
1,478,515
|
|
1,435,266
|
|
214,279
|
Total liabilities
and shareholders' equity
|
|
2,349,970
|
|
2,086,309
|
|
311,478
|
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 Six Months
Ended
|
|
|
June
30,
2021
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of merchandise,
net
|
|
472,081
|
|
237,135
|
|
35,403
|
|
1,043,969
|
|
527,590
|
|
78,767
|
Marketplace
revenue
|
|
88,174
|
|
42,140
|
|
6,291
|
|
183,548
|
|
89,566
|
|
13,372
|
Other
revenues
|
|
10,467
|
|
4,676
|
|
699
|
|
18,602
|
|
9,374
|
|
1,399
|
Total
revenues
|
|
570,722
|
|
283,951
|
|
42,393
|
|
1,246,119
|
|
626,530
|
|
93,538
|
Operating cost and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
(370,521)
|
|
(168,758)
|
|
(25,195)
|
|
(809,886)
|
|
(360,075)
|
|
(53,758)
|
Fulfilment
|
|
(50,118)
|
|
(43,067)
|
|
(6,430)
|
|
(114,952)
|
|
(91,981)
|
|
(13,732)
|
Sales and
marketing
|
|
(61,477)
|
|
(58,193)
|
|
(8,688)
|
|
(157,802)
|
|
(108,843)
|
|
(16,250)
|
Technology and
content
|
|
(32,407)
|
|
(23,612)
|
|
(3,525)
|
|
(69,895)
|
|
(47,752)
|
|
(7,129)
|
General and
administrative
|
|
(42,888)
|
|
(31,714)
|
|
(4,735)
|
|
(116,956)
|
|
(62,937)
|
|
(9,396)
|
Total operating cost
and expenses
|
|
(557,411)
|
|
(325,344)
|
|
(48,573)
|
|
(1,269,491)
|
|
(671,588)
|
|
(100,265)
|
Other operating
income
|
|
2,657
|
|
11,417
|
|
1,704
|
|
19,571
|
|
17,526
|
|
2,617
|
Income/(loss) from
operations
|
|
15,968
|
|
(29,976)
|
|
(4,476)
|
|
(3,801)
|
|
(27,532)
|
|
(4,110)
|
Financial income/(loss)
net
|
|
7,795
|
|
12,259
|
|
1,830
|
|
28,281
|
|
(23,011)
|
|
(3,436)
|
Foreign exchange loss,
net
|
|
(1,248)
|
|
(7,400)
|
|
(1,105)
|
|
(1,077)
|
|
(7,713)
|
|
(1,152)
|
Other non-operating
income, net
|
|
7,489
|
|
40
|
|
6
|
|
8,402
|
|
2,063
|
|
308
|
Income/(loss) before
income tax
expense, and equity in loss of
affiliates, net of tax
|
|
30,004
|
|
(25,077)
|
|
(3,745)
|
|
31,805
|
|
(56,193)
|
|
(8,390)
|
Income tax
(expense)/benefit
|
|
(7,714)
|
|
919
|
|
137
|
|
(10,963)
|
|
(4,405)
|
|
(658)
|
Equity in loss of
affiliates, net of tax
|
|
(5,332)
|
|
(874)
|
|
(131)
|
|
(7,856)
|
|
(1,329)
|
|
(198)
|
Net
income/(loss)
|
|
16,958
|
|
(25,032)
|
|
(3,739)
|
|
12,986
|
|
(61,927)
|
|
(9,246)
|
Less: net (loss)/income
attributable to
non-controlling interests shareholders
|
|
(56)
|
|
183
|
|
27
|
|
(205)
|
|
(216)
|
|
(32)
|
Net income/(loss)
attributable to
YUNJI INC.
|
|
17,014
|
|
(25,215)
|
|
(3,766)
|
|
13,191
|
|
(61,711)
|
|
(9,214)
|
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 Six Months
Ended
|
|
|
June
30,
2021
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Net income/(loss)
attributable to
ordinary shareholders
|
|
17,014
|
|
(25,215)
|
|
(3,766)
|
|
13,191
|
|
(61,711)
|
|
(9,214)
|
Net
income/(loss)
|
|
16,958
|
|
(25,032)
|
|
(3,739)
|
|
12,986
|
|
(61,927)
|
|
(9,246)
|
Other comprehensive
(loss)/income
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign
currency translation
adjustment
|
|
(19,219)
|
|
53,036
|
|
7,918
|
|
(12,744)
|
|
48,064
|
|
7,176
|
Total comprehensive
(loss)/income
|
|
(2,261)
|
|
28,004
|
|
4,179
|
|
242
|
|
(13,863)
|
|
(2,070)
|
Less:
total comprehensive
(loss)/income attributable to non-
controlling interests shareholders
|
|
(56)
|
|
183
|
|
27
|
|
(205)
|
|
(216)
|
|
(32)
|
Total comprehensive
(loss)/income
attributable to YUNJI INC.
|
|
(2,205)
|
|
27,821
|
|
4,152
|
|
447
|
|
(13,647)
|
|
(2,038)
|
Net income/(loss)
attributable to
ordinary shareholders
|
|
17,014
|
|
(25,215)
|
|
(3,766)
|
|
13,191
|
|
(61,711)
|
|
(9,214)
|
Weighted average number
of
ordinary shares used in computing
net earnings/(loss) per share, basic
and diluted
|
|
2,140,954,126
|
|
2,109,469,102
|
|
2,109,469,102
|
|
2,137,900,343
|
|
2,128,400,114
|
|
2,128,400,114
|
Net earnings/(loss)
per share
attributable to ordinary
shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
0.01
|
|
(0.01)
|
|
-
|
|
0.01
|
|
(0.03)
|
|
-
|
Diluted
|
|
0.01
|
|
(0.01)
|
|
-
|
|
0.01
|
|
(0.03)
|
|
-
|
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,
2021
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Share-based
compensation expenses included
in:
|
|
|
|
|
|
|
|
|
|
|
|
|
Technology and
content
|
|
787
|
|
968
|
|
144
|
|
2,681
|
|
2,164
|
|
323
|
General and
administrative
|
|
5,934
|
|
6,621
|
|
989
|
|
24,781
|
|
11,399
|
|
1,702
|
Fulfillment
|
|
(152)
|
|
212
|
|
32
|
|
(215)
|
|
830
|
|
124
|
Sales and
marketing
|
|
335
|
|
133
|
|
20
|
|
695
|
|
(192)
|
|
(29)
|
Total
|
|
6,904
|
|
7,934
|
|
1,185
|
|
27,942
|
|
14,201
|
|
2,120
|
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,
2021
|
|
June
30,
2022
|
|
June
30,
2021
|
|
June
30,
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Reconciliation of
Net income/(loss) to
Adjusted Net income/(loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
|
16,958
|
|
(25,032)
|
|
(3,739)
|
|
12,986
|
|
(61,927)
|
|
(9,246)
|
Add: Share-based
compensation
|
|
6,904
|
|
7,934
|
|
1,185
|
|
27,942
|
|
14,201
|
|
2,120
|
Adjusted net
income/(loss)
|
|
23,862
|
|
(17,098)
|
|
(2,554)
|
|
40,928
|
|
(47,726)
|
|
(7,126)
|
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 RMB6.6981 to US$1.00, the exchange
rate in effect as of June 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 June 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-second-quarter-2022-unaudited-financial-results-301612325.html
SOURCE Yunji Inc.