Yunji Selects WWC, P.C. as its Independent Registered Public Accounting Firm

Rhea-AI Summary

Yunji Inc. (NASDAQ: YJ), a membership-based social e-commerce platform, announced a change in its independent registered public accounting firm. The company's board and audit committee approved the dismissal of PricewaterhouseCoopers Zhong Tian LLP (PwC) and appointed WWC, P.C. as its new auditor, effective May 22, 2025.

PwC's reports on Yunji's consolidated financial statements for fiscal years 2024 and 2023 contained no adverse opinions, disclaimers, or modifications. The company reported no disagreements with PwC on accounting principles, financial statement disclosure, or auditing procedures during the fiscal years 2023-2024 and through May 22, 2025. Additionally, there were no reportable events during this period.

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• None.

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• Change of auditor from a Big Four firm (PwC) to a smaller accounting firm could raise concerns about audit quality and oversight

HANGZHOU, China, May 22, 2025 /PRNewswire/ -- Yunji Inc. ("Yunji" or the "Company") (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced that the Company's board of directors and the audit committee of the board approved the dismissal of PricewaterhouseCoopers Zhong Tian LLP ("PwC") as the Company's independent registered public accounting firm, effective May 22, 2025, and the appointment of WWC, P.C. ("WWC") as the Company's new independent registered public accounting firm for the fiscal year ending December 31, 2025, effective May 22, 2025.

The reports of PwC on the Company's consolidated financial statements for the fiscal years ended December 31, 2024 and 2023 contained no adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles.  

During the fiscal years ended December 31, 2024 and 2023, and the subsequent interim period through May 22, 2025, there have been (i) no disagreements (as defined in Item 16F(a)(1)(iv) of Form 20-F) between the Company and PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of PwC, would have caused PwC to make reference thereto in their reports on the Company's consolidated financial statements for such years, and (ii) no reportable events (as defined in Item 16F(a)(1)(v) of Form 20-F).

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

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SOURCE Yunji Inc.

FAQ

Why did Yunji (YJ) change its auditor from PwC to WWC in 2025?

The press release does not specify the reason for Yunji's change from PwC to WWC. The company only stated that the change was approved by its board of directors and audit committee, effective May 22, 2025.

Were there any disagreements between Yunji and PwC before the auditor change?

No, Yunji reported no disagreements with PwC on accounting principles, financial statements, or auditing procedures during fiscal years 2023-2024 and through May 22, 2025.

What was PwC's opinion on Yunji's financial statements before the change?

PwC's reports on Yunji's financial statements for 2023 and 2024 contained no adverse opinion, disclaimer of opinion, or modifications regarding uncertainty, audit scope, or accounting principles.

When will WWC begin serving as Yunji's new auditor?

WWC, P.C. will begin serving as Yunji's independent registered public accounting firm for the fiscal year ending December 31, 2025, effective May 22, 2025.