Yunji Announces Second Half and Fiscal Year 2025 Unaudited Financial Results

Rhea-AI Summary

Yunji (NASDAQ: YJ) reported unaudited results for the second half and full year ended December 31, 2025. H2 2025 revenue was RMB158.7 million (US$22.7M) vs RMB183.8M a year earlier; FY 2025 revenue was RMB317.0 million (US$45.3M) vs RMB417.7M in 2024.

The company narrowed its H2 net loss to RMB32.6M from RMB115.1M, cut operating expenses and fulfillment costs, and maintained a 12-month repurchase rate of 69.7%. Yunji reiterated focus on private-label, margin improvement and a path to profitability.

Positive

• H2 net loss narrowed to RMB32.6M from RMB115.1M
• Total operating expenses decreased by 43.8% in H2 2025
• Fulfillment expenses decreased by 60.2% in H2 2025
• Maintained 12-month repeat purchase rate of 69.7%

Negative

• H2 total revenues declined to RMB158.7M from RMB183.8M
• FY 2025 total revenues fell 24.1% to RMB317.0M from RMB417.7M
• H2 cost of revenues rose to 58.4% of revenues from 49.0% (margin pressure)
• Sales and marketing rose to 32.4% of revenues in FY 2025 (higher acquisition cost)

News Market Reaction – YJ

-1.08%

-1.08% Session close to close

In the Mar 27 session, YJ declined 1.08%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details Yunji’s ongoing transformation, highlighting lower second-half revenues of...

Analysis

This announcement details Yunji’s ongoing transformation, highlighting lower second-half revenues of RMB158.7 million but a sharply narrowed H2 net loss of RMB32.6 million and a strong 69.7% repeat purchase rate. Full-year revenues fell to RMB317.0 million while net loss widened to RMB133.3 million, underscoring that profitability remains a key challenge. Investors may watch future earnings for revenue stabilization, further operating expense reductions, and whether the private-label, organic health strategy supports sustained margin improvement.

Key Figures

H2 2025 Total Revenues: RMB158.7 million (US$22.7 million) H2 2025 Net Loss: RMB32.6 million (US$4.7 million) FY 2025 Total Revenues: RMB317.0 million (US$45.3 million) +5 more

8 metrics

H2 2025 Total Revenues RMB158.7 million (US$22.7 million) Second half 2025 vs RMB183.8 million in H2 2024

H2 2025 Net Loss RMB32.6 million (US$4.7 million) Second half 2025 vs RMB115.1 million in H2 2024

FY 2025 Total Revenues RMB317.0 million (US$45.3 million) Full year 2025 vs RMB417.7 million in 2024

FY 2025 Net Loss RMB133.3 million (US$19.1 million) Full year 2025 vs RMB123.1 million in 2024

Repeat Purchase Rate 69.7% Twelve months ended December 31, 2025

FY 2025 Net Loss/Share RMB0.07 (US$0.01) Basic and diluted net loss per share, 2025 vs RMB0.06 in 2024

H2 2025 Operating Expenses RMB112.4 million (US$16.1 million) Second half 2025, down from RMB200.1 million in H2 2024

FY 2025 Operating Expenses RMB291.8 million (US$41.7 million) Full year 2025 vs RMB349.2 million in 2024

Previous Earnings Reports

5 past events · Latest: Aug 21 (Negative)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Aug 21	H1 2025 earnings	Negative	+0.0%	Revenue drop and sharply wider net loss during strategic transformation period.
Apr 21	FY 2024 results	Negative	-1.7%	Q4 and full-year 2024 revenue declines with widened quarterly net loss.
Nov 21	Q3 2024 earnings	Negative	-17.6%	Q3 2024 revenue decline despite cost cuts and slightly smaller net loss.
Aug 23	Q2 2024 earnings	Neutral	-6.8%	Lower revenues but meaningfully narrowed net loss and stable financial position.
Jun 11	Q1 2024 earnings	Positive	-7.1%	Revenue decline but return to net income and reduced operating expenses.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Earnings releases have often coincided with revenue declines and net losses, with share price reactions skewing negative and sometimes selling off even when losses narrow or profitability improves.

Recent Company History

Over the past few earnings cycles, Yunji has repeatedly reported declining revenues and ongoing net losses while maintaining high repeat purchase rates above 70%. Cost-control efforts and strategic repositioning toward organic health products have featured prominently, with some periods showing narrowed losses or even quarterly profitability. Despite these initiatives, the average earnings-day move of about -6.64% and several negative reactions suggest investors have focused on top-line pressure and persistent full-year losses when reassessing the stock.

Key Terms

repeat purchase rate, net loss, adjusted net loss, non-GAAP, +3 more

7 terms

repeat purchase rate financial

"Repeat purchase rate2 in the twelve months ended December 31, 2025 was 69.7%."

Repeat purchase rate measures the share of customers who buy a product or service more than once over a set period, showing how often buyers come back. Investors use it like a loyalty thermometer: higher repeat purchases suggest steady revenue, lower marketing costs per sale, and a stronger chance that future earnings are sustainable—similar to how a neighborhood café with many regulars is a safer bet than one that only sees one-time visitors.

net loss financial

"net loss narrowing to RMB32.6 million from RMB115.1 million in the same period of 2024."

Net loss is the amount by which a company’s total costs and expenses exceed its total income during a reporting period, after taking into account taxes and one‑time items. It matters to investors because repeated or large net losses can shrink a company’s cash and owner value, reducing its ability to pay dividends, invest for growth or borrow money — like a household spending more than it earns and dipping into savings to cover the shortfall.

adjusted net loss financial

"Adjusted net loss (non-GAAP)4 was RMB32.5million (US$4.6 million)..."

Adjusted net loss is the company’s reported net loss after removing one-time, non-cash, or unusual items that management says obscure underlying results, such as restructuring charges, asset write-downs, or stock-based pay. Investors use it to focus on the business’s core profitability — like smoothing out potholes to judge road quality — but should be cautious because choices about what to exclude can make performance look better than it really is.

non-GAAP financial

"Use of Non-GAAP Financial Measures In evaluating the business, the Company considers and uses adjusted net loss..."

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

U.S. GAAP financial

"not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP."

U.S. GAAP is a set of rules and standards that companies in the United States follow to prepare their financial reports. It helps ensure that financial information is consistent and clear, so investors and others can compare and understand a company's financial health easily.

share-based compensation financial

"defines adjusted net loss as net loss excluding share-based compensation."

Share-based compensation is when a company pays employees, executives or directors with its own stock or rights to buy stock instead of, or in addition to, cash. Think of it like receiving store gift cards instead of extra paycheck — it can motivate staff to boost the company’s value, but it also increases the number of shares outstanding and can shrink each existing owner’s slice of profits and voting power. Investors watch it because it affects reported earnings, share count and the alignment between management and shareholders.

ASC 718 financial

"share-based compensation recorded under ASC 718, "Compensation-Stock Compensation.""

ASC 718 is the U.S. accounting rule that tells companies how to record and report employee pay that’s paid in company stock or stock options. It requires firms to treat equity awards as a real expense on the income statement and to show how they dilute existing shareholders, so investors can see the cost of talent incentives much like they see a payroll bill. That matters because it directly affects reported profits, earnings per share and the number of shares outstanding.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HANGZHOU, China, March 27, 2026 /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 half and fiscal year ended December 31, 2025¹.

Second Half 2025 Highlights

• Total revenues in the second half of 2025 were RMB158.7 million (US$22.7 million), compared with RMB183.8 million in the same period of 2024. The change 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, together with a deliberate scale-back of the marketplace business.
• Repeat purchase rate² in the twelve months ended December 31, 2025 was 69.7%.

Mr. Shanglue Xiao, Chairman and Chief Executive Officer of Yunji, said, "In the second half of 2025, we continued to demonstrate the resilience of our strategic transformation centered on becoming a leader in organic healthy living, while maintaining our industry-leading 12-month repurchase rate of 69.7%. This performance reflects the success of our strategy of offering curated premium products, including organic health foods aligned with China's national health strategy, while building a differentiated experiential ecosystem that strengthens customer trust through supply chain traceability and wellness services. As we enter 2026, we will continue developing health private labels and steadily accelerating our transformation from a traditional e-commerce platform to a private label–led model. We will balance multi-channel customer acquisition with our path toward profitability to create greater value for our members."

"During the second half of 2025, we delivered improvement on our path to profitability, with net loss narrowing to RMB32.6 million from RMB115.1 million in the same period of 2024. This improvement was driven by disciplined cost management and our continued focus on product curation and operational efficiency. As we enter 2026, we remain committed to our strategic priorities of margin improvement and profitability, supported by our stable liquidity position and continued focus on resource optimization and profitable growth." said Ms. Nan Song, Senior Financial Director of Yunji.

Second Half 2025 Unaudited Financial Results

Total revenues were RMB158.7 million (US$22.7 million), compared with RMB183.8 million in the same period of 2024. This change 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, together with a deliberate scale-back of the marketplace business.

• Revenues from sales of merchandise were RMB136.4 million (US$19.5 million), compared with RMB145.5 million in the same period of 2024. This change was primarily due to a decrease in revenue from derecognition of incentive payables to inactive members as the number of inactive members³ declined, partially offset by a slight increase in merchandise sales resulting from proactive membership initiatives.

• Revenues from the marketplace business were RMB22.1 million (US$3.2 million), compared with RMB34.3 million in the same period of 2024. This change was primarily due to the Company's strategic decision to focus on private label products and deliberately scale back the marketplace business.

• Other revenues were RMB0.2 million (US$0.02 million), compared with RMB4.0 million in the same period of 2024.

Total cost of revenues increased by 3.0% to RMB92.7 million (US$13.3 million), or 58.4% of total revenues, from RMB90.0 million, or 49.0% of total revenues, in the same period of 2024. Total cost of revenues primarily comprises costs related to sales of merchandise. The increase was primarily driven by higher merchandise sales. Revenues and related costs from merchandise sales are recognized on a gross basis.

Total operating expenses decreased by 43.8% to RMB112.4 million (US$16.1 million) from RMB200.1 million in the same period of 2024.

• Fulfillment expenses decreased by 60.2% to RMB13.3 million (US$1.9 million), or 8.4% of total revenues, from RMB33.6 million, or 18.3% of total revenues, in the same period of 2024. The decrease was primarily due to reduced personnel costs as a result of ongoing optimization in staffing allocation.
• Sales and marketing expenses increased by 6.4% to RMB52.6 million (US$7.5 million), or 33.2% of total revenues, from RMB49.5 million, or 26.9% of total revenues, in the same period of 2024. The increase was primarily due to (i) an increase in personnel costs, as a result of a shift in resource allocation from online traffic acquisition towards offline and private-domain initiatives, and (ii) an increase in depreciation and amortization.
• Technology and content expenses decreased by 35.5% to RMB13.0 million (US$1.9 million), or 8.2% of total revenues, from RMB20.1 million, or 10.9% of total revenues, in the same period of 2024. The decrease was primarily due to the reduction in personnel costs as a result of staffing structure refinements.
• General and administrative expenses decreased by 65.5% to RMB33.5 million (US$4.8 million), or 21.1% of total revenues, from RMB96.9 million, or 52.7% of total revenues, in the same period of 2024. The decrease was primarily due to (i) a decrease in an impairment of long-lived assets other than goodwill, and in the allowance for credit losses, and (ii) a reduction in personnel costs as a result of improved staffing allocation.

Loss from operations was RMB43.0 million (US$6.2 million), compared with RMB103.9 million in the same period of 2024.

Financial income, net was RMB5.5 million (US$0.8 million), compared with financial expense, net of RMB8.3 million in the same period of 2024, primarily due to an increase in the fair value changes of equity securities investments.

Net loss was RMB32.6 million (US$4.7 million), compared with RMB115.1 million in the same period of 2024.

Adjusted net loss (non-GAAP)⁴ was RMB32.5million (US$4.6 million), compared with RMB114.0 million in the same period of 2024.

Basic and diluted net loss per share attributable to ordinary shareholders were both RMB0.02, compared with RMB0.06 in the same period of 2024.

Fiscal Year 2025 Unaudited Financial Results

Total revenues were RMB317.0 million (US$45.3 million), compared with RMB417.7 million in the full year of 2024. The

change was primarily due to the same factors that led to the half-year change.

• Revenues from sales of merchandise were RMB268.1 million (US$38.3 million), compared with RMB330.5 million in the full year of 2024.
• Revenues from the marketplace business were RMB46.6 million (US$6.7 million), compared with RMB79.5 million in the full year of 2024.
• Other revenues were RMB2.3 million (US$0.3 million), compared with RMB7.7 million in the full year of 2024.

Total cost of revenues decreased by 16.6% to RMB176.2 million (US$25.2 million) from RMB211.3 million in the full year of 2024. Total cost of revenues primarily comprises costs related to sales of merchandise. The decrease was primarily attributable to the change in merchandise sales, for which revenues and cost of revenues are recognized on a gross basis.

Total operating expenses were RMB291.8 million (US$41.7 million), compared with RMB349.2 million in the full year of 2024.

• Fulfillment expenses decreased by 55.5% to RMB33.9 million (US$4.9 million), or 10.7% of total revenues, from RMB76.1 million, or 18.2% of total revenues, in the full year of 2024. The decrease was primarily due to the same factors that led to the half-year decrease.
• Sales and marketing expenses increased by 5.9% to RMB102.7 million (US$14.7 million), or 32.4% of total revenues, from RMB97.0 million, or 23.2% of total revenues, in the full year of 2024. The increase was primarily due to the same factors that led to the half-year increase
• Technology and content expenses decreased by 38.0% to RMB28.3 million (US$4.0 million), or 8.9% of total revenues, from RMB45.6 million, or 10.9% of total revenues, in the full year of 2024. The decrease was primarily due to the same factors that led to the half-year decrease.
• General and administrative expenses decreased by 2.7% to RMB126.9 million (US$18.1 million), or 40.0% of total revenues, from RMB130.5 million, or 31.2% of total revenues, in the full year of 2024. The decrease was primarily due to (i) the reduction in personnel costs as a result of improved staffing allocation, and (ii) a decrease in an impairment of long-lived assets other than goodwill offset by an increase in an allowance for credit losses.

Loss from operations was RMB143.4 million (US$20.5 million), compared with RMB136.3 million in the full year of 2024.

Financial income, net was RMB9.4 million (US$1.3 million), compared with RMB17.3 million in the full year of 2024, primarily due to a decrease in the fair value changes of equity securities investments and a decrease in interest income.

Net loss was RMB133.3 million (US$19.1 million), compared with RMB123.1 million in the full year of 2024.

Adjusted net loss⁴ was RMB133.0 million (US$19.0 million), compared with RMB120.7 million in the full year of 2024.

Basic and diluted net loss per share attributable to ordinary shareholders were both RMB0.07 (US$0.01), compared with RMB0.06 in the full year of 2024.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses adjusted net 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 loss as net loss excluding share-based compensation.

The Company presents adjusted net loss because it is used by management to evaluate operating performance and formulate business plans. Adjusted net 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 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 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 Friday, March 27, 2026 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	1-855-669-9658
International	1-412-317-0088
Replay Access Code	4499274

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, 2024		December 31, 2025
		RMB		RMB		US$
ASSETS
Current Assets
Cash and cash equivalents		219,365		109,587		15,671
Restricted cash		23,467		22,770		3,256
Short-term investments		-		83,774		11,980
Accounts receivable, net		56,233		3,856		551
Advance to suppliers		9,810		10,178		1,455
Inventories, net		29,448		41,000		5,863
Amounts due from related parties		662		225		32
Prepaid expenses and other current assets5		177,187		86,142		12,318
Total current assets		516,172		357,532		51,126
Non-current assets
Property, equipment and software, net6		205,450		278,726		39,857
Land use rights, net6		174,437		170,021		24,313
Long-term investments		364,534		307,956		44,037
Operating lease right-of-use assets, net		13,809		3,392		485
Other non-current assets		78,050		92,019		13,159
Total non-current assets		836,280		852,114		121,851
Total assets		1,352,452		1,209,646		172,977

 

 

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, 2024		December 31, 2025
		RMB		RMB		US$
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Accounts payable		54,678		48,943		6,999
Deferred revenue		8,596		11,115		1,589
Incentive payables to members3		66,039		50,635		7,241
Member management fees payable		1,263		1,604		229
Other payable and accrued liabilities		126,177		96,076		13,738
Amounts due to related parties		1,645		2,836		406
Short-term borrowings		-		40,075		5,731
Operating lease liabilities - current		3,845		1,498		214
Total current liabilities		262,243		252,782		36,147
Non-current liabilities
Operating lease liabilities, non-current		7,808		1,606		230
Other non-current liabilities		4,355		19,367		2,769
Total non-current liabilities		12,163		20,973		2,999
Total Liabilities		274,406		273,755		39,146

 

 

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, 2024		December 31, 2025
		RMB		RMB		US$
Shareholders' equity
Ordinary shares		70		70		10
Less: Treasury stock		(113,334)		(113,334)		(16,206)
Additional paid-in capital		7,328,336		7,328,615		1,047,978
Statutory reserve		16,726		16,726		2,392
Accumulated other comprehensive income		93,145		83,996		12,011
Accumulated deficit		(6,247,557)		(6,380,841)		(912,448)
Total Yunji Inc. shareholders' equity		1,077,386		935,232		133,737
Non-controlling interests		660		659		94
Total shareholders' equity		1,078,046		935,891		133,831
Total liabilities and shareholders' equity		1,352,452		1,209,646		172,977

 

 

YUNJI INC.   UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (All amounts in thousands, except for share and per share data, unless otherwise noted)
		For the Six Months Ended						For the Year Ended
		December 31, 2024		December 31, 2025				December 31, 2024		December 31, 2025
		RMB		RMB		US$		RMB		RMB		US$
Revenues:
Sales of merchandise, net		145,510		136,434		19,510		330,535		268,169		38,348
Marketplace revenue		34,299		22,090		3,159		79,466		46,553		6,657
Other revenues		4,005		162		23		7,650		2,294		328
Total revenues		183,814		158,686		22,692		417,651		317,016		45,333
Operating cost and expenses:
Cost of revenues		(90,000)		(92,735)		(13,261)		(211,311)		(176,222)		(25,199)
Fulfilment		(33,558)		(13,354)		(1,910)		(76,126)		(33,910)		(4,849)
Sales and marketing		(49,477)		(52,632)		(7,526)		(96,965)		(102,715)		(14,688)
Technology and content		(20,096)		(12,971)		(1,855)		(45,627)		(28,288)		(4,045)
General and administrative		(96,941)		(33,469)		(4,786)		(130,462)		(126,875)		(18,143)
Total operating cost and expenses		(290,072)		(205,161)		(29,338)		(560,491)		(468,010)		(66,924)
Other operating income		2,383		3,447		493		6,544		7,574		1,083
Loss from operations		(103,875)		(43,028)		(6,153)		(136,296)		(143,420)		(20,508)
Financial (expense)/income, net		(8,260)		5,467		782		17,333		9,367		1,339
Foreign exchange (loss)/gain, net		(203)		3,417		489		2,127		1,601		229
Other non-operating income/(loss),  net		667		(4,915)		(703)		785		(3,979)		(569)
Loss before income tax expense, and equity in loss of affiliates, net of tax		(111,671)		(39,059)		(5,585)		(116,051)		(136,431)		(19,509)
Income tax (expense)/benefit		(716)		1,513		216		(2,009)		(462)		(66)
Equity in (loss)/income of affiliates, net of tax		(2,702)		4,971		711		(5,061)		3,608		516
Net loss		(115,089)		(32,575)		(4,658)		(123,121)		(133,285)		(19,059)
Less: net loss attributable to non- controlling interests shareholders		(10)		(1)		-		(11)		(1)		-
Net loss attributable to YUNJI INC.		(115,079)		(32,574)		(4,658)		(123,110)		(133,284)		(19,059)

 

 

YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (CONTINUED)  (All amounts in thousands, except for share and per share data, unless otherwise noted)
		For the Six Months Ended						For the Year Ended
		December 31, 2024		December 31, 2025				December 31, 2024		December 31, 2025
		RMB		RMB		US$		RMB		RMB		US$
Net loss attributable to ordinary shareholders		(115,079)		(32,574)		(4,658)		(123,110)		(133,284)		(19,059)
Net loss		(115,089)		(32,575)		(4,658)		(123,121)		(133,285)		(19,059)
Other comprehensive income
Foreign currency translation adjustment		3,733		(7,500)		(1,073)		7,854		(9,149)		(1,308)
Total comprehensive loss		(111,356)		(40,075)		(5,731)		(115,267)		(142,434)		(20,367)
Less: total comprehensive loss attributable to non-controlling interests shareholders		(10)		(1)		-		(11)		(1)		-
Total comprehensive loss attributable to YUNJI INC.		(111,346)		(40,074)		(5,731)		(115,256)		(142,433)		(20,367)
Net loss attributable to ordinary shareholders		(115,079)		(32,574)		(4,658)		(123,110)		(133,284)		(19,059)
Weighted average number of ordinary shares used in computing net loss per share, basic and diluted		1,967,942,011		1,970,216,032		1,970,216,032		1,967,498,669		1,970,423,265		1,970,423,265
Net loss per share attributable to ordinary shareholders
Basic		(0.06)		(0.02)		(0.00)		(0.06)		(0.07)		(0.01)
Diluted		(0.06)		(0.02)		(0.00)		(0.06)		(0.07)		(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 Six Months Ended						For the Year Ended
		December 31, 2024		December 31, 2025				December 31, 2024		December 31, 2025
		RMB		RMB		US$		RMB		RMB		US$
Share-based compensation expenses included in:
Technology and content		627		(1)		-		1,450		116		17
General and administrative		326		70		10		774		163		23
Fulfillment		56		-		-		92		(12)		(2)
Sales and marketing		70		-		-		114		12		2
Total		1079		69		10		2,430		279		40

 

 

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 Six Months Ended						For the Year Ended
		December 31, 2024		December 31, 2025				December 31, 2024		December 31, 2025
		RMB		RMB		US$		RMB		RMB		US$
Reconciliation of Net Loss to Adjusted Net Loss:
Net loss		(115,089)		(32,575)		(4,658)		(123,121)		(133,285)		(19,059)
Add: Share- based compensation		1,079		69		10		2,430		279		40
Adjusted net loss		(114,010)		(32,506)		(4,648)		(120,691)		(133,006)		(19,019)

 

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 RMB6.9931 to US$1.00, the exchange rate in effect as of December 31, 2025 as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System.
2. "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.
3. As of December 31, 2025, the decrease in incentive payables was primarily due to derecognition of long-aged payables to inactive members. The long-aged balances of incentive payables to members were derecognized when the Company's payable obligations alongside were extinguished, and revenue was recognized accordingly.
4. Adjusted net loss is a non-GAAP financial measure, which is defined as net 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 December 31, 2025, Short-term loan receivables of an amount RMB147.4 million were included in the prepaid expenses and other current assets balance, which represent the principal and interest to be collected on loans provided by the Group to third-party companies. The decrease in prepaid expenses and other current assets as of December 31, 2025 compared to December 31, 2024 was primarily due to an increased allowance for credit losses and repayment.
6. In June 2024, the Company won the bid for a parcel of land located in Xiaoshan District, Hangzhou, China, covering approximately 10 thousand square meters (the "Hangzhou Land Parcel") and entered into an agreement with the local government to acquire the land use right of the Hangzhou Land Parcel for an aggregate consideration of approximately RMB171.5 million. In July 2024, the Company obtained the certificate of the land use right and carried the land use right at a cost of RMB176.6 million, including a tax expense of RMB5.1million, less accumulated amortization and impairment losses, if any. The Company intends to construct a new office building on the Hangzhou Land Parcel to use it as its new headquarters and also lease offices to external parties. The total amount for the land acquisition and office building construction is expected to be approximately RMB600.0 million. The Company intends to fund the land acquisition and building construction through cash on hand and bank financing. As of December 31, 2025, the new office building, comprising two interconnected sections, was under construction. The structural frame of one section had been topped out, while the other one was in the main structural construction phase.

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SOURCE Yunji Inc.

FAQ

How much revenue did YJ report for H2 2025 and how did it compare to H2 2024?

Yunji reported RMB158.7 million in H2 2025, down from RMB183.8 million a year earlier. According to the company, the decline reflected product curation and a deliberate scale-back of the marketplace business.

What was Yunji's net loss for H2 2025 and what drove the change versus 2024?

Yunji posted a H2 net loss of RMB32.6 million, narrower than RMB115.1 million in H2 2024. According to the company, disciplined cost management and operational efficiency drove the improvement.

What were Yunji's full-year 2025 revenues and how much did they fall year-over-year?

Full-year 2025 revenue was RMB317.0 million, down from RMB417.7 million in 2024. According to the company, the decline was mainly due to product selection refinement and scaling back marketplace operations.

How did Yunji's operating expenses and fulfillment costs change in 2025?

Operating expenses fell sharply; H2 operating expenses decreased by 43.8%. Fulfillment costs fell by 60.2% in H2 2025, reflecting staffing and operational optimizations, according to the company.

What is Yunji's strategy going into 2026 and how might it affect shareholders of YJ?

Yunji plans to accelerate private-label development and pursue margin improvement toward profitability. According to the company, this strategy prioritizes curated premium products and supply-chain traceability to strengthen member value.

Did Yunji report any key customer-retention metrics for 2025 that investors should note?

Yunji reported a 12-month repeat purchase rate of 69.7%, indicating strong member retention. According to the company, this reflects success in curated product offerings and membership initiatives.