Yunji Inc. reported total revenues of RMB97.1 million (US$13.3 million) for the fourth quarter of 2024, a decrease from RMB149.1 million in the same period of 2023. For the full fiscal year 2024, total revenues were RMB417.7 million (US$57.2 million), down from RMB640.2 million in 2023. The company attributed these declines to soft consumer confidence and its strategy to refine product and supplier selections.
In the fourth quarter, total operating expenses increased by 14.9% to RMB126.2 million (US$17.3 million) from RMB109.8 million in Q4 2023, leading to a loss from operations of RMB77.7 million (US$10.6 million). However, for the full year 2024, total operating expenses decreased to RMB349.2 million (US$47.8 million) from RMB403.0 million in 2023.
The net loss for the fourth quarter was RMB85.0 million (US$11.7 million), compared to RMB65.9 million in Q4 2023. For the full fiscal year 2024, Yunji reported a net loss of RMB123.1 million (US$16.9 million), an improvement from a net loss of RMB165.1 million in 2023. Basic and diluted net loss per share for the full year was RMB0.06, compared to RMB0.08 in 2023.
Management stated a focus on repositioning Yunji as a leading platform for organic health products, emphasizing high-margin and high-repeat purchase categories. The company aims to transform into an experiential health and wellness destination in 2025. Financial discipline and strategic investments are planned to drive sustainable growth and improve profitability.
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