Yunji Inc. (NASDAQ: YJ) reported H2 2025 total revenues of RMB 158.7 million (US$22.7 million), down 13.7% YoY from RMB 183.8 million in H2 2024. Full-year 2025 revenue dropped 24.1% to RMB 317.0 million (US$45.3 million). Basic/diluted EPS was RMB (0.02) for H2 and RMB (0.07) for FY2025. After the earnings release on March 27, 2026, YJ stock fell -16.57% to close at $1.51.
About Yunji Inc.
Yunji Inc. (NASDAQ: YJ) is a membership-based social e-commerce platform headquartered in Hangzhou, China, focused on curated product offerings and community-driven retail. The company leverages social channels and a membership model to distribute beauty, personal care, home, and other lifestyle products across China, emphasizing repeat purchase behavior and loyal user cohorts.
Yunji listed on the Nasdaq and, as of mid-2025, had a market capitalization of about $9.56 million, reflecting a sharp contraction from prior years as the share price declined significantly from earlier levels. While the press release does not specify a current P/E ratio or dividend yield, the firm remains loss-making with basic and diluted net loss per share in the latest reported period, indicating a negative implied P/E. The platform continues to refine its supplier base and product selection and to scale back certain marketplace activities to improve efficiency and focus on higher-quality demand.
Top Financial Highlights
- Total H2 2025 Revenues: RMB 158.7 million (US$22.7 million), down 13.7% from RMB 183.8 million in H2 2024.
- Full-Year 2025 Revenues: RMB 317.0 million (US$45.3 million), down 24.1% from RMB 417.7 million in FY2024.
- Merchandise Sales (H2 2025): RMB 136.4 million (US$19.5 million), down from RMB 145.5 million in H2 2024; driven partly by derecognition of incentive payables to inactive members.
- Marketplace Revenue (H2 2025): RMB 22.1 million (US$3.2 million), down from RMB 34.3 million in H2 2024, reflecting a deliberate strategic scale-back of the marketplace business.
- Gross Margin (H2 2025): Cost of revenues was 58.4% of total revenues (up from 49.0% in H2 2024), implying gross margin compression to approximately 41.6%.
- H2 2025 Net Loss: RMB 32.6 million (US$4.7 million), dramatically improved from a net loss of RMB 115.1 million in H2 2024 — a 71.7% improvement.
- FY2025 Net Loss: RMB 133.3 million (US$19.1 million), vs. RMB 123.1 million in FY2024 — a slight deterioration of 8.3% year over year.
- Adjusted Net Loss (Non-GAAP, H2): RMB 32.5 million (US$4.6 million), vs. RMB 114.0 million in H2 2024.
- Basic & Diluted EPS (H2 2025): RMB (0.02) per share (US$0.00), improved from RMB (0.06) in H2 2024.
- FY2025 EPS: RMB (0.07) per share (US$**(0.01)**), vs. RMB (0.06) in FY2024.
- Total Operating Expenses (H2 2025): Decreased 43.8% to RMB 112.4 million, from RMB 200.1 million in H2 2024 — the biggest positive swing in the period.
- Loss from Operations (H2 2025): RMB 43.0 million (US$6.2 million), improved from RMB 103.9 million in H2 2024.
- Cash & Cash Equivalents (Dec 31, 2025): RMB 109.6 million (US$15.7 million), with an additional RMB 83.8 million in short-term investments (new vs. zero in 2024).
- Repeat Purchase Rate (12 months ended Dec 31, 2025): 69.7%, industry-leading retention metric; down slightly from 71.0% as of June 30, 2025.
Beat or Miss?
| Metric | Reported (H2 2025) | Prior Year (H2 2024) | Difference / Analysis |
| Total Revenue | RMB 158.7M (US$22.7M) | RMB 183.8M | Miss vs. prior year; deliberate marketplace scale-back and product curation strategy drove decline |
| Net Loss | RMB (32.6M) | RMB (115.1M) | Beat — dramatic improvement of ~72% in loss reduction |
| Operating Expenses | RMB 112.4M | RMB 200.1M | Beat — cut by 43.8%; G&A expenses fell 65.5% |
| EPS (Basic & Diluted) | RMB (0.02) | RMB (0.06) | Beat — loss per share sharply narrowed |
| Analyst Consensus EPS | N/A | N/A | No Street coverage; Adj. EPS of (3.86) on ADS basis reported separately by Moomoo |
| Cash on Hand | RMB 109.6M (US$15.7M) | RMB 219.4M | Declined by ~50%; short-term investments of RMB 83.8M partially offset the drop |
What Leadership Is Saying?
CEO (Strategy & Vision):
“In the second half of 2025, we continued to demonstrate the resilience of our strategic transformation centered on becoming a leader in organic healthy living, while maintaining our industry-leading 12-month repurchase rate of 69.7%. This performance reflects the success of our strategy of offering curated premium products, including organic health foods aligned with China’s national health strategy, while building a differentiated experiential ecosystem that strengthens customer trust through supply chain traceability and wellness services. As we enter 2026, we will continue developing health private labels and steadily accelerating our transformation from a traditional e-commerce platform to a private label–led model.” – Shanglue Xiao, Chairman and CEO
CFO (Financials & Margins):
“During the second half of 2025, we delivered improvement on our path to profitability, with net loss narrowing to RMB32.6 million from RMB115.1 million in the same period of 2024. This improvement was driven by disciplined cost management and our continued focus on product curation and operational efficiency. As we enter 2026, we remain committed to our strategic priorities of margin improvement and profitability, supported by our stable liquidity position and continued focus on resource optimization and profitable growth.” – Nan Song, Senior Financial Director
Historical Performance
Yunji YoY Comparison – H2 2025 vs. H2 2024
| Category | H2 2025 | H2 2024 | Change (%) |
| Total Revenue | RMB 158.7M (US$22.7M) | RMB 183.8M | -13.70% |
| – Merchandise Sales | RMB 136.4M | RMB 145.5M | -6.30% |
| – Marketplace Revenue | RMB 22.1M | RMB 34.3M | -35.60% |
| Net Loss | RMB (32.6M) | RMB (115.1M) | +71.7% improvement |
| Total Operating Expenses | RMB 112.4M | RMB 200.1M | -43.80% |
| Loss from Operations | RMB (43.0M) | RMB (103.9M) | +58.6% improvement |
| EPS (Basic & Diluted) | RMB (0.02) | RMB (0.06) | +67% improvement |
Yunji YoY Comparison – Full Year 2025 vs. Full Year 2024
| Category | FY2025 | FY2024 | Change (%) |
| Total Revenue | RMB 317.0M (US$45.3M) | RMB 417.7M | -24.1% |
| Net Loss | RMB (133.3M) | RMB (123.1M) | -8.3% (worsened) |
| Total Operating Expenses | RMB 291.8M | RMB 349.2M | -16.40% |
| Loss from Operations | RMB (143.4M) | RMB (136.3M) | -5.2% (worsened) |
Competitor YoY Comparison (H2/FY2025)
| Category | Yunji (FY2025) | PDD Holdings (FY2025) | JD.com (FY2025) |
| Total Revenue | RMB 317.0M (US$45.3M) | RMB 431,845.7M (US$61.8B) | RMB 1,309.1B (US$187.2B) |
| Prior Year Revenue (FY2024) | RMB 417.7M | RMB 393,836.1M | RMB 1,158.8B |
| Revenue Change (YoY) | -24.1% | +10% | +13% |
| Net Income / (Loss) | RMB (133.3M) | RMB ~100B+ (profitable) | RMB 19.6B |
| Prior Year Net Income | RMB (123.1M) | Profitable | RMB 41.4B |
| Net Income Change (YoY) | -8.3% (worsened) | -11% Q4 net income decline | -52% decline |
How the Market Reacted?
Real-time or same-day stock price reaction to the March 27, 2026 earnings release is not included in the accessible text, and external market data sources do not yet show a clearly labeled post-earnings move for that exact date.
As of July 2025, Yunji’s shares traded at about $1.94 with a market cap near $9.56 million, after a multi-year decline of over 98 percent from earlier levels. Given the continued revenue contraction but improving per-share loss, the tone of the report appears cautiously defensive, with management emphasizing structural optimization rather than short-term growth, which likely supports a neutral to slightly cautious investor sentiment.
Sources
