: Bullet Caiguan
November 29th news, Yunji Group, a listed social e-commerce company, released its financial performance report as of September 30, 2022 today. According to Yunji's financial report, they achieved revenue of 238.9 million yuan in the third quarter, while revenue in the same period of 2021 was 437.9 million yuan, and fell 45% year-on-year compared with .
Among them, product sales revenue was of 196.9 million yuan, and the revenue of this business in the same period of 2021 was 365.5 million yuan. Market business revenue was RMB 38.1 million, compared with RMB 64.7 million in the same period in 2021. Other income was 3.9 million yuan, compared with 7.7 million yuan in the same period in 2021. It can be seen that the revenue of the three businesses has declined to varying degrees.
According to Yunji Company, the main reason for their decline in revenue in the third quarter is that the company continues to adopt a strategy to optimize product selection in all categories and optimize suppliers and merchants’ choices, resulting in a recent decline in sales. Compared with the same period in 2021, consumers’ willingness to purchase non-essential products in the third quarter of 2022 decreased.
In the 12 months ended September 30, 2022, the repeated purchase rate of Yunji products was 38.7%.
Chairman and CEO of Yunji Group, O Xiao Shangluo , said, "In the third quarter of 2022, the challenging macro environment and the continued strict epidemic control measures continue to be disadvantages. Nevertheless, we strengthened and enhanced our platform infrastructure by continuing to focus on implementing our product curation strategy while actively adjusting our operational strategy. In addition, we have further optimized our sales channels with big data analytics to improve our Service. We continue to add value to our customers by providing more support to service managers to ensure that they always provide professional and in-depth services to our customers. In addition, we have cultivated our vertical products by increasing the proportion of high-quality products with high repurchase rates and reasonable prices in our product portfolio. "
Although Xiao Shangluo's expression revealed a more positive message, Yunji Group's net loss in the third quarter of this year was 38.24 million yuan, and its net profit in the same period of 2021 was 60.84 million yuan, a year-on-year change from profit to loss.
In the first three quarters of this year, Yunji's total revenue was 865.4 million yuan, a year-on-year decrease of 48.61%, and a net loss of 99.95 million yuan, an increase of 235.01% year-on-year.
Under the leadership of Xiao Shangluo, Yunji's sales and marketing expenses dropped from 59.8 million yuan in the same period of 2021 to 47 million yuan in the third quarter of this year, a decrease of 21.5%; technology and content expenses dropped from 28.5 million yuan in the same period of 2021 to 16.6 million yuan in the third quarter of this year, a decrease of more than 40%, to 41.7%. Yunji's management expenses dropped from 68.4 million yuan in the same period in 2021 to 38 million yuan in the third quarter of this year, a decrease of 41.4%. The decline in these three expenses is related to the same factor, that is, the optimization of personnel structure leads to a reduction in personnel costs.
Yunji Vice President of Finance Zhang Peng revealed that Yunji's goal in the future is to maintain a healthy balance sheet by maintaining a high focus on cost control and cash flow management.
, and Xiao Shangluo also released a new product Yunji Store in October this year. He said that Yunji 4.0 is a new strategy and new starting point for the next ten years, and it is also a new exploration of private domain e-commerce. Yunji should become a porter of high-quality products and short video content, and move the top products bought in major live broadcast rooms to Yunji APP.
On January 3 this year, Yunji's stock price was at 0.65 US dollars. In March, their stock price reached the highest of US$1.42 this year. However, Yunji's closing price on November 28 was only 0.87 US dollars. Although its stock price has increased from the beginning of the year, it fell by 38.7% compared with the new high this year.
Yunji APP was officially launched in May 2015 and was listed on the U.S. Nasdaq stock market in May 2019. The issue price was US$11 at that time. Now it is only about 3.5 years old, and its stock price is already below US$1.
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