What is Lanlan Ltd.’s role in Yunji (YJ) CEO’s share ownership?

Lanlan Ltd. holds 949,960,000 Class B Ordinary Shares for the benefit of Shanglue Xiao. It is wholly owned by XSL Global Limited, which is owned by XSL Family Trust, where Mr. Xiao is settlor, beneficiary and sole director of Lanlan Ltd.

Yunji CEO reports major dual-class share stakes

Yunji Inc. director and Chief Executive Officer Shanglue Xiao has filed an initial insider ownership report showing large indirect stakes in the company’s dual-class share structure.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Yunji Inc. director and Chief Executive Officer Shanglue Xiao has filed an initial insider ownership report showing large indirect stakes in the company’s dual-class share structure. This Form 3 filing outlines existing positions rather than new market transactions.

The filing reports indirect ownership of 15,000,000 Class A Ordinary Shares, held in the form of American Depositary Shares where each ADS represents 400 Class A Ordinary Shares, through Fortune Sharing Limited as trustee of an employee shareholding trust. It also reports indirect ownership of 949,960,000 Class B Ordinary Shares held through Lanlan Ltd., an entity ultimately controlled for the benefit of Mr. Xiao via XSL Family Trust.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Xiao Shanglue

Role Chief Executive Officer

Type	Security	Shares	Price	Value
holding	Class A Ordinary Shares	--	--	--
holding	Class B Ordinary Shares	--	--	--

Holdings After Transaction: Class A Ordinary Shares — 15,000,000 shares (Indirect, By Fortune Sharing Limited); Class B Ordinary Shares — 949,960,000 shares (Indirect, By Lanlan Ltd.)

Footnotes (3)

F1. The Class A Ordinary Shares are held in the form of American Depositary Shares (ADSs). Each ADS represents four hundred (400) Class A Ordinary Shares.
F2. The Class A Ordinary Shares are held by Fortune Sharing Limited as trustee of an employee shareholding trust, for the benefit of employees including Mr. Shanglue Xiao.
F3. Lanlan Ltd. is 100% owned by XSL Global Limited, which is in turn wholly owned by XSL Family Trust, a trust established under the laws of Cayman Islands and managed by TMF (Cayman) Ltd. as the trustee. Mr. Shanglue Xiao is the settlor and the beneficiary of XSL Family Trust. Mr. Xiao is also the member of the protective committee, and makes investment decision with respect to the shares of Issuer owned by Lanlan Ltd. Mr. Shanglue Xiao is the sole director of Lanlan Ltd.

FAQ

What insider holdings does Yunji (YJ) CEO Shanglue Xiao report on this Form 3?

The Form 3 reports that CEO Shanglue Xiao indirectly holds 15,000,000 Class A Ordinary Shares and 949,960,000 Class B Ordinary Shares. These positions are reported as existing holdings rather than new market transactions.

How are Yunji (YJ) Class A Ordinary Shares held by the CEO structured?

The Class A Ordinary Shares are held in the form of American Depositary Shares, with each ADS representing 400 Class A Ordinary Shares. They are owned indirectly through Fortune Sharing Limited as trustee of an employee shareholding trust.

Does this Yunji (YJ) Form 3 indicate any insider buying or selling activity?

No specific buying or selling activity is shown. The Form 3 records existing indirect holdings in Class A and Class B Ordinary Shares, classifying them as holding entries rather than new purchase or sale transactions.

How are Yunji (YJ) employee shares held that relate to CEO Shanglue Xiao?

The filing states that Class A Ordinary Shares are held by Fortune Sharing Limited as trustee of an employee shareholding trust. The trust holds shares for the benefit of employees, including CEO Shanglue Xiao, reflecting shared employee participation.

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Accepted by SEC EDGAR 03/18/2026 - 07:42 AM

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Xiao Shanglue

(Last)

(First)

(Middle)

56/F, BUILDING A, GATE OF WISDOM,

BINJIANG DISTRICT

(Street)

HANGZHOU,ZHEJIANG

310000

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Yunji Inc. [ YJ ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Ordinary Shares⁽¹⁾	15,000,000	I	By Fortune Sharing Limited⁽²⁾
Class B Ordinary Shares	949,960,000	I	By Lanlan Ltd.⁽³⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

1. The Class A Ordinary Shares are held in the form of American Depositary Shares (ADSs). Each ADS represents four hundred (400) Class A Ordinary Shares.

2. The Class A Ordinary Shares are held by Fortune Sharing Limited as trustee of an employee shareholding trust, for the benefit of employees including Mr. Shanglue Xiao.

3. Lanlan Ltd. is 100% owned by XSL Global Limited, which is in turn wholly owned by XSL Family Trust, a trust established under the laws of Cayman Islands and managed by TMF (Cayman) Ltd. as the trustee. Mr. Shanglue Xiao is the settlor and the beneficiary of XSL Family Trust. Mr. Xiao is also the member of the protective committee, and makes investment decision with respect to the shares of Issuer owned by Lanlan Ltd. Mr. Shanglue Xiao is the sole director of Lanlan Ltd.

	/s/ Xiao Shanglue	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR