YUNJI INC (NASDAQ:YJ) Q2 2020 Earnings Conference Call - Final Transcript
Aug 25, 2020 • 07:30 am ET
Thank you so much. Ladies and gentlemen, we will now begin the question-and-answer session. [Operator Instructions]. And your first question comes from the line of Ivy Liu from Credit Suisse. Ivy, your line is now open.
[Foreign Speech]. I'll quickly translate myself. So could management share more color on the current strategies on merchandising capabilities, especially with regards to those self-owned brands and JV brands? Thanks.
Okay. [Foreign Speech]. [Indecipherable] Our commodity supply chain has more than contributed by the connection with B end consumers and our member consumers. So, we're going to invest our labor force and our resources in the development of the private label and the joint venture brand.
[Foreign Speech]. And also for the product high in margin and high in the repurchase rate, we are going to promote more private label in the healthcare and cosmetic and the food.
[Foreign Speech]. And as for the medium level margin and the medium level rate pressures, rate product, we are going to cooperate with some publicly traded Company to do more joint venture brands.
[Foreign Speech]. And then for one of the joint venture brands, we promoted ATM, it's called the [Indecipherable] and then it has been quite popular among the consumers and the repurchase rate has been 50%.
[Foreign Speech]. And then today, we just launched a new product that is called Yunji ID Facial Cream and GMV for today has reached RMB1 million.
[Foreign Speech]. And also, we can see such partnership model has been quite popular among our upstream partners like those JV brands and the private labels.
[Foreign Speech]. And also, it will promote the values for our members, because they are longing for those products, good in price and high in quality. And also it will generate more values for our service managers because they also want to promote such popular products in high quality and also they would like to increase their income.
[Foreign Speech]. And also, we can see the partnership within the China high-quality manufacturing companies and the mainstream consumer product companies will be the main strategy for our supply chain.
[Foreign Speech]. That's for my -- that's for your question. Thank you.
Thank you so much. [Operator Instructions]. There are no question at this time, I'll hand back to the management for closing.
Thank you for joining us today. Please do not hesitate to contact us if you have any further questions. And we're looking forward to talking with you next quarter. Bye.
[Operator Closing Remarks].