Yunji (YJ) has released an update.
Yunji Inc., a leading social e-commerce platform, reported a decrease in second quarter revenues for 2024 to RMB106.0 million, down from RMB167.1 million year-over-year, attributing the decline to soft consumer confidence and a strategy shift towards refining product offerings. Despite lower revenues, the repeat purchase rate remained strong at 73.5%. The company is focusing on growth opportunities and maintaining financial stability by adjusting its business strategies in response to market changes.
For further insights into YJ stock, check out TipRanks’ Stock Analysis page.
