Yunji (YJ) has released an update.
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Yunji has reported a decline in total revenues for the third quarter of 2024 to RMB86.6 million from RMB145.1 million in 2023, primarily due to soft consumer confidence and strategic adjustments in product and supplier selection. Despite the revenue decrease, the company remains committed to its strategy of optimizing operational efficiency and strengthening its product offerings in the health-conscious market segment. Operating expenses were also reduced by 24%, reflecting cost management efforts amid challenging market conditions.
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