BEIJNG(PingWest) — Yunji Inc. (“Yunji” or the “Company”) (NASDAQ: YJ), China's membership-based social e-commerce platform, today announced its unaudited financial results for the third quarter ended September 30, 2019.
Third Quarter 2019 Highlights
- GMV in the third quarter of 2019 increased by 69.8% year over year to RMB9.2 billion (US$1.3 billion) from RMB5.4 billion in the same period of 2018 due to the Company’s broadening of product categories and focus on platform operations since the launch of its marketplace business model. GMV related to marketplace revenues was RMB3.2 billion (US$ 0.5 billion) in the third quarter of 2019, compared with nil in the same period of 2018.
- Total revenues in the third quarter of 2019 were RMB2,773.1 million (US$388.0 million), compared with RMB3,084.0 million in the same period of 2018, primarily due to a decrease in revenues from sales of merchandise, which recognizes revenues on a gross basis, as the Company shifted a portion of its merchandise sales to its marketplace business platform, which recognizes revenues on a net basis.
- Transacting members in the twelve months ended September 30, 2019 increased by 122.7% year over year to 9.4 million from 4.2 million in the twelve months ended September 30, 2018.
- Cumulative members4 as of September 30, 2019 increased by 14.2% to 12.3 million from 10.8 million as of June 30, 2019.