The following is a summary of the Yunji Inc (YJ) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Yunji reported a decrease in Q4 revenue, dropping from RMB 289 million in the previous year to RMB 149 million.

• However, the company maintained a steady gross margin at 46.6%, indicating consistent cost control measures despite the drop in revenue.

• Operational losses increased slightly from RMB 33 million to RMB 40 million, and the net loss dropped slightly from RMB 68 million to RMB 66 million.

• Adjusted net loss, unfortunately, more than doubled from RMB 31 million to RMB 65 million.

• The company's cash and cash equivalents, along with restricted cash and short-term investments, decreased from RMB 669 million to RMB 552 million by the end of 2023.

Business Progress:

• Despite the fierce price competition in the market, Yunji was able to maintain a stable order value due to its curated product selection and effective private label products.

• The company demonstrated agility by focusing on popular health and beauty products, which received a warm response from users.

• The launch of a 28-day body image management program, adjoined with product purchases, one-on-one services, and online tracking, saw significant initial sales, recording over RMB 80 million.

• Yunji expressed a dedication to customer service, incorporating AI technology to provide personalized service and product recommendations.

• An ongoing commitment to control inventory and efficient asset management was emphasized as a critical objective for the company moving forward.

More details: Yunji IR

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