Yunji Inc. (China)

The Company, through its subsidiaries, consolidated variable interest entities (“VIEs”) and VIE's subsidiaries, offers a selection of high-quality products covering a broad range of categories at attractive prices through its e-commerce platform, Yunji VIP App and Yunji flagship App (“Yunji Apps”).
BUSINESS
As a social e-commerce platform in China, the Company has pioneered a unique, membership-based model that leverages the power of social interaction. It offer high-quality products at attractive prices and incentivize its members to promote its platform and share its products with their social contacts. Its platform has attracted a large and growing base of users, including members and non-members. These users are actively purchasing products on its platform.
The Company offer products across a large variety of categories with the aim of catering to the various daily needs of its users and their households. The Company also add to its product offerings based on feedback and understanding of its members and users based on various analytics. While the Company offer products from mainstream and emerging brands, it also work with manufacturers directly to produce private labels. The Company is also extremely focused on the quality and pricing of its products. The Company has been intentionally maintaining a balance between expanding the product category coverage to meet its users' evolving demand and controlling the number of SPUs in each category.
Yunji flagship App is exclusive to the members of the Group's membership program. The Group's principal operation and geographic market is in the People's Republic of China (“PRC”).
The Company has only one reportable segment.
HISTORY
2015 The Company commenced operations through Yunji Sharing Technology Co., Ltd., or Yunji Sharing, and launched its Yunji app in May 2015.
2017 In November 2017, The Company was established in the Cayman Islands as its offshore holding company to facilitate financing and offshore listing. Shortly following its incorporation, The Company established a wholly-owned subsidiary in Hong Kong, Yunji Holding Limited.
2019 The Company listed its common stocks on the Nasdaq Global Market under the trading symbol “YJ” on May 3, 2019.