Yunji Inc.

For the first half of 2026, total revenue was RMB 96.3 million versus RMB 158.3 million in the same period last year. Gross margin was approximately 41%, unchanged year over year, and net loss narrowed to RMB 72.4 million from RMB 100.7 million; adjusted net loss was RMB 72.3 million versus RMB 100.5 million. Operating loss improved to RMB 39.4 million from RMB 100.4 million, and basic and diluted net loss per share both narrowed to RMB 0.04 from RMB 0.05. On liquidity, Yunji ended June 30, 2026 with RMB 242.1 million in cash and cash equivalents, up from RMB 216.1 million at December 31, 2025. Management did not provide formal next-quarter or full-year guidance, but said it will keep refining product metrics, expand food medicine homology offerings, and channel more resources into high-margin, high-repurchase items to support margin improvement.

The CEO framed the quarter around a deliberate strategy reset rather than a volume push, saying Yunji is staying committed to “organic living” and a dual-engine model of product and experience. He emphasized that the company is strengthening its merchandise mix by discontinuing merchants that do not meet higher standards and by focusing on private label, organic health, and traceability experiences. His tone was confident but cautious, repeatedly tying near-term revenue pressure to long-term quality and profitability.

The CFO walked through a detailed cost-out story: total cost of revenues fell 31.9% to RMB 56.8 million, fulfillment expense dropped to RMB 10.3 million from RMB 20.6 million, sales and marketing declined to RMB 39.5 million from RMB 50.1 million, technology and content expense fell to RMB 12.4 million from RMB 15.3 million, and G&A decreased to RMB 47.5 million from RMB 93.4 million. She said total operating expenses fell 38.8% to RMB 109.7 million, which helped narrow operating loss to RMB 39.4 million and net loss to RMB 72.4 million. She also highlighted RMB 242.1 million in cash and cash equivalents and said the company has sufficient liquidity while continuing to optimize working capital and asset efficiency.

This was a prepared-remarks call with no analyst Q&A included. The main issues addressed by management were the revenue decline from softer consumer spending and the intentional exit from certain merchants, versus the offset from improved mix and lower costs. Management’s answer was consistent throughout: short-term top-line pressure is acceptable if it supports better product quality, stronger retention, and a path to margin improvement.