Yunji Inc. reported total revenues of RMB86.6 million (US$12.4 million) for the third quarter ended September 30, 2024. This represents a decrease from RMB145.1 million in the same period of 2023, primarily due to soft consumer confidence and the company's ongoing strategy to refine product selection and optimize supplier bases.
Despite the revenue decline, Yunji demonstrated cost management, with total cost of revenues decreasing by 49.6% to RMB39.8 million (US$5.7 million) from RMB78.9 million in the prior year. Total operating expenses also saw a reduction of 24.0%, reaching RMB73.9 million (US$10.6 million) compared to RMB97.2 million in the third quarter of 2023.
The company's net loss for the quarter was RMB30.0 million (US$4.3 million), an improvement from a net loss of RMB34.8 million in the third quarter of 2023. Adjusted net loss was RMB29.5 million (US$4.2 million), down from RMB34.0 million year-over-year. Basic and diluted net loss per share remained at RMB0.02.
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