Yunji (YJ) has released an update.
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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.
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