Yunji Inc.

First-half 2025 revenue was RMB 158.3 million, down from RMB 233.8 million a year ago. Merchandise sales were RMB 131.7 million and marketplace revenue was RMB 24.5 million. Gross margin was 47.3%. Total operating expenses were RMB 179.4 million versus RMB 149.1 million in the same period of 2024. Loss from operations was RMB 100.4 million, compared with a loss of RMB 32.4 million a year ago. Net loss was RMB 100.7 million versus RMB 8 million a year ago, and adjusted net loss was RMB 100.5 million versus RMB 6.7 million. Basic and diluted net loss per share were both RMB 0.05. Cash and cash equivalents plus short-term investments were RMB 217.1 million as of January 30, 2025, versus RMB 242.8 million at December 31, 2024. No explicit next-quarter or full-year numerical guidance was provided; management said it will keep improving gross margin, aim to achieve breakeven, and strengthen the financial position.

The CEO framed organic health as Yunji’s core strategic direction, saying the company is staying committed to that positioning despite weaker consumer confidence and a slight revenue decline. He pointed to product launch traction as validation, including RMB 5 million in sales for Youjiang Organic Milk, over RMB 10 million for slimming coffee, nearly RMB 7 million for probiotic bolus, and more than RMB 5 million each for other products. He also emphasized channel expansion through public-domain e-commerce, Tmall, influencers, WeChat, and community group leaders, while presenting tea therapy and SUYE beauty products as additional growth engines.

The CFO said first-half revenue was RMB 158.3 million, down from RMB 233.8 million, and gross margin remained 47.3%. He attributed the revenue decline to softer consumer confidence and product/supplier optimization, while noting fulfillment expenses fell to RMB 20.6 million and technology and content expenses fell to RMB 15.3 million. Sales and marketing rose to RMB 50.1 million, and G&A increased to RMB 93.4 million mainly because of a high allowance for credit losses; excluding that one-time loss, G&A would have decreased 35.6%. He closed by saying the company will focus on cost structure optimization, efficient capital allocation, improving gross margin, and working toward breakeven, with cash and short-term investments of RMB 217.1 million providing adequate coverage for payables.

There was no analyst Q&A in the transcript, so no additional questions or management responses were provided beyond the prepared remarks. The main concerns raised on the call were soft consumer confidence, lower merchandise sales, and the larger credit-loss allowance that drove G&A higher. Management’s answer to these issues was to keep tightening cost control, refine product selection, and lean into higher-margin organic health offerings and channel expansion.