Yunji Inc.

Yunji Inc. operates a social e-commerce platform in China with a membership-based model. The company offers high-quality products at attractive prices and encourages members to promote the platform and share products with their social contacts. Yunji supports emerging brands and manufacturers by providing market trend and customer behavior insights to help them produce innovative products. The company has also developed several private labels in the mass consumption sector, which are sold on its platform and through external channels. Members are central to the platform and gain access to a dedicated app and mini-program offering a curated product selection, exclusive benefits, and features. Starting March 2025, users can become members by either purchasing an RMB 198 membership package, valid for one year, with retention for the following year if annual spending reaches a specified amount; or by paying an RMB 500 refundable deposit, which is returned upon meeting a specified spending threshold, at which point membership status is retained. Yunji's members, typically middle-class consumers, are social and share shopping experiences. Members refer others to join and are rewarded for doing so. They can also promote products on social platforms and receive rewards for user purchases. Yunji provides support including training, technology, and customer services. The company offers a wide variety of product categories to meet the daily needs of users and their households, and product offerings are expanded based on member and user feedback and analytics.