Yunji Mall recognizes revenue on the basis of net income, and the self-operated platform for commodities recognizes revenue based on the full sales amount.
On March 24, Yunji (YJ.US) announced its financial report for the fourth quarter and the full year of 2019. This is also the first annual report since Yunji went public.
According to the financial report, the total revenue of Yunji in the fourth quarter was 2.494 billion yuan (the following units are all “RMB”), a year-on-year decrease of 45.15%. The total revenue in 2019 was 11.672 billion yuan. In the past three quarters, Yunji’s revenue has increased by 53.2%, 46.4%, and -10%, respectively. The negative growth from the third quarter is because Yunji changed the original financial statistics caliber , and transferred some of the self-operated merchandise sales to the mall platform; Under the new statistical caliber, Yunji Mall recognizes revenue on the basis of net income, and the self-operated platform for commodities recognizes revenue on the basis of full sales.
GMV in the fourth quarter increased from 8.1 billion yuan in the same period in 2018 to 11 billion yuan, a 36.1% year-on-year increase . Yunji launched the mall business in the first quarter of 2019 and was included in the statistics for the first time in the second quarter; Fourth quarter, Yunji continued to highlight the impact of the mall business on its financial results : during the financial period The GMV related to the mall business reached 5 billion yuan, which continued to maintain a steady rise, accounting 45% of the total GMV in the fourth quarter ; the mall business revenue was 169.2 million yuan In contrast, mall revenue for the same period in 2018 was zero.
Yunji realized a net profit of 16.9 million yuan in the first quarter of 2019 and began to turn losses into profits; After experiencing losses in the second and third quarters, Yunji achieved profit again in the fourth quarter. According to non-general accounting standards, adjusted quarterly net profit was 25.3 million yuan, compared with 9.2 million yuan in the same period last year. Yunji’s adjusted net profit in 2019 was 4.4 million yuan, compared with a net loss of 2 million yuan in 2018. In terms of the whole year, Yunji has also realized a turnaround.
Xun Shangluo, Chairman and CEO of Yunji, said that in 2019, Yunji will improve its business management capabilities while upgrading its product sales strategy; Yunji will use platform resources to empower emerging brands and further create differentiated product portfolios , Accelerate the transaction growth of the platform; in addition to these upgrades, Yunji’s wealth