Yunji Inc.
YJ · Retail-Retail Stores, NEC · EDGAR filings ↗
Grade
D49Shrinking China social-commerce platform with persistent losses but a large cash cushion.
Strengths
- Strong cash position ($501M, 84th pct) and good gross margin (44%, 81st pct) with quick ratio 1.25 (71st pct)
- Net loss roughly stable year-over-year
Risks
- Revenue down 24% (11th pct) with negative operating margin (-45%), net margin (-42%) and interest coverage (-271)
- China VIE/HFCAA risk and a membership model with declining spend per buyer
Notable findings
- No interest coverageInterest coverage -271.29 (cannot cover interest)
- Net lossNet loss (net margin -42.0%)
- Revenue declineRevenue -20.8% YoY
Key metrics
Gross margin
44.4%
Operating margin
-45.2%
Net margin
-42.0%
Return on equity
-14.3%
Return on assets
-11.0%
Revenue growth (QoQ)
-20.8%
Interest coverage
-271.3×
Current ratio
1.4×
EBITDA
-$19M
Tangible book value
$109M
Cash & investments
$72M
Stock comp / revenue
0.1%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-24 | 2025-12-31 | 0001493152-26-018839 ↗ |
| 20-F | 2025-04-24 | 2024-12-31 | 0001641172-25-005915 ↗ |
| 20-F | 2024-04-25 | 2023-12-31 | 0001493152-24-015848 ↗ |
| 20-F | 2023-04-26 | 2022-12-31 | 0001193125-23-116482 ↗ |
| 20-F | 2022-04-26 | 2021-12-31 | 0001193125-22-119026 ↗ |
| 20-F | 2021-04-26 | 2020-12-31 | 0001193125-21-130439 ↗ |
| 20-F | 2020-04-24 | 2019-12-31 | 0001193125-20-118175 ↗ |