On June 11th, the selected e-commerce platform Yunji announced its unaudited financial performance for the first quarter of the 2024 fiscal year as of March 31, 2024. This quarter, Yunji achieved a total revenue of 127.9 million yuan, with an adjusted net profit of 2.98 million yuan after deducting equity incentives. Data shows that in the first quarter, the total operating expenses of Yunji decreased by 11.0% from 85.23 million yuan in the same period of 2023 to 75.88 million yuan. In the first half of the year, the cloud covered multiple categories with their own brands, and video accounts showed a booming development trend.
In the first quarter, Yunji firmly focused on the two strategic directions of "beauty" and "health", further strengthened its own brand layout, and continuously upgraded its supply chain capabilities to select diversified high-quality products. Yunji Chairman and CEO Xiao Shanglue stated, "Yunji is committed to closely interacting with service providers to further cultivate and develop its business in the fields of beauty and health." Currently, Yunji is fully leveraging its long-standing supply chain advantages to meet the quality needs of consumers with better product selection and service capabilities.
In terms of "beauty", Su Ye and Pu0026amp; Brand S continues to launch new products, focusing on the track suitable for mature muscle nutrients, benchmarking the efficacy of major European and American cosmetics, and creating a super single product. Among them, new products such as Suye Bose facial mask, Suye Light White Spot Whitening essence, Pu0026amp; S Radiance Color Makeup Pre Isolating Cream continue to maintain the good momentum of instant sales. In addition, Yunji Beauty brand actively expands external cooperation channels, and cultivates the entire network in content platforms and short video platforms, in order to achieve more ways of reaching the audience through live streaming platforms such as influencers and sales, and better and more accurately meet user consumption needs.
In terms of clothing, Yunji is committed to building an S-level supply chain, using numerous affordable, same brand and same style clothing products to create a de branded, affordable, high-quality, and cost-effective wearing experience for consumers. In 2024, Yunji will combine short videos and live broadcasts to regularly launch new content on its official video account every week, focusing on clothing and beauty. Clothing has become an important puzzle in the Yunji beauty track.
In terms of "health", in the first quarter, Yunji continued to enrich its "health supermarket" matrix by combining advanced manufacturing technology and natural nourishing ingredients with the same origin of medicine and food, serving the Chinese people from passive medical treatment to active health from the food side of residential households. At the same time, Yunji continues to innovate and improve its vertical community service experience. On the basis of fully implementing AI applications, it further promotes a professional and comprehensive training system, cultivates professional health nutritionists, and provides value-added health services beyond products, so that every family has a professional "health consultant".
In the future, Yunji will closely follow market demand, deeply cultivate "Beautiful Yunji" and "Healthy Yunji" with a long-term perspective, develop and introduce more self owned brands and high cost-effective products that meet the needs, and keep up with the trend of video technology, combining online and offline, empowering more outstanding private entrepreneurs to become short video and live streaming influencers, allowing more ordinary people to reap greater individual commercial value in the video era.