YUNJI INC (NASDAQ:YJ) Q3 2019 Earnings Conference Call - Preliminary Transcript

Dec 02, 2019 • 07:00 am ET

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YUNJI INC (NASDAQ:YJ) Q3 2019 Earnings Conference Call - Preliminary Transcript

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Presentation
Operator
Operator

Good morning and good evening ladies and gentlemen. Thank you and welcome to Yunji's Third Quarter 2019 Earnings Conference Call. At this time, all participants are in listen-only mode. We will be hosting a question-and-answer session after management's prepared remarks.

With us today are Mr. Shanglue Xiao, Chairman and Chief Executive Officer; Mr. Chen Chen, Chief Financial Officer; Mr. Hui Ma, Chief Strategy Officer and Chief People Officer and Ms. Kaye Liu, Investor Relations Director of the Company. I would now like to hand the conference over to our first speaker for today, Ms. Kay Liu, IRD of Yunji. Please go ahead ma'am.

Executive
Kaye Liu

Hello, everyone. Welcome to third quarter 2019 earnings call. Before we start, please note that this call will contain forward-looking statements. These forward-looking statements involve inherent risks and uncertainties that may cause actual results to differ materially from our current expectations. For detailed discussion of these risks and certainties, please refer to our latest documents filed with US SEC.

Any forward-looking statements that we make on this call may based on assumptions as of today and we do not undertake any obligation to update these statements except as required under applicable laws.

These forward-looking statements are based on management's current expectations observations that involve known and unknown risks, uncertainties, and other factors not under the company's control, which may cause actual results, performance, or achievement of the company to materially different from the results, performance, or expectations implied by these forward-looking statements.

All forward-looking statement especially qualitied in the entirety by the cautionary statements, risk factors, and details of the company's filings with the SEC. Yunji undertakes no duty to revise or update any forward-looking statements for select events or to commensurate after the date of this conference call.

With that, I would now turn over to Shanglue Xiao

Chairman and CEO of Yunji.

Executive
Shanglue Xiao

(Foreign Language)

Hello everyone, welcome to Yunji's third quarter 2019 earnings call. In the third quarter of 2019, our GMV increased by 69.8 year-over-year to RMB9.2 billion. We generate RMB2.77 billion in total revenue while shrinking (ph) adjusted net loss by RMB37.7 to RMB24.9 million, the prior (ph) year period as of September 30, 2019 accumulated membership increased by 14.2 million to 12.3 million from 10.8 million as of June 30, 2019. In the 12 month ended September 30, 2019, the total number of transaction member has increased by 122.7 (ph) year-over-year, further illustrating the ongoing expansion of our capital (ph)

(Foreign Language)

Such -- reflect our materialist exclusion of three compared strategies. First, for things, the sustainable growth and stable profitability. Third, building competitive differentiation to effective merchandising and providing companion value propositions to members and service managers through (inaudible)

(Foreign Language)

Executive
Unidentified Speaker

[Foreign Language] The backdrop of that pursuing those three strategies is that (inaudible) Economy centric on consumer designs to perform in the design economy and this need to proactively uncover consumer's desire and satisfy this design, while in the current consumer market, value with low end manufacturing products