Yunji Inc. (YJ) stock has signed a partnership agreement with Aurora Mobile Limited (JG) after which the YJ stock price saw a push of 0.56% to reach $1.81 a share as of this writing. The momentum for YJ stock was already built prior to this partnership agreement as YJ stock gained by 0.28% at the previous closing. Let’s see the YJ stock in depth.
Yunji Inc Partnership with Aurora Mobile Ltd:
Yunji Inc is operating as the leading eCommerce platform in the People’s Republic of China. According to the agreement between YJ stock and Aurora Mobile Ltd, a provider of mobile developer service, intelligent marketing would be promoted by using advanced AI technology and analytics capabilities of Aurora so that Yunji would come up with the needs of its customers and target them accurately in order to increase the value for money of wide variety of products. Furthermore, this agreement would help in the promotion of digital operations and membership-based eCommerce business by developing the new retail models of eCommerce at a fast pace.
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Financial Results by Yunji Stock:
On May 27, 2021, YJ stock did announce its first-quarter 2021 financial results according to which.
- YJ stock revenue was reduced to RMB675.4 million as compared to RMB1,649.2 million in the same quarter of the previous year. This decrease was due to Yunji’s decrease in the marketplace well as merchandise sales due to optimized adjustments in the selection of its suppliers and merchants.
- The Total Cost of revenues for YJ stock in the recently reported quarter wasRMB439.4 million representing a decrease of 61.7% as compared to RMB1,148.0 million in the same quarter of the prior year.
- Operating expenses suffered by YJ stock were totaled RMB272.7 million in the first quarter of 2021 which represents a decline of 47.8% as compared to RMB522.9 in the first quarter of 2020.
- Loss from operation jumped from RMB6.1 million in Q1 2020 to RMB19.8 million in Q1 2021.
- Net loss for YJ stock reduced to RMB4.0 million in Q1 2021 while it was RMB13.2 million in the same tenure of the prior year.
- Non-GAAP income was reported at RMB17.1 million in the first three months of 2021 as compared to RMB26.1 million in the first three months of 2020.
Wrap Up:
YJ stock was gaining at previous closing and today’s news about its partnership with Aurora Mobile Ltd has continued the rising trend as far as market sentiment is concerned. The management is focused on the enhancement of Yunji’s portfolio of product offerings and striving hard to improve the cost structures as well as operational efficiency in order to maintain a healthy financial profile. In a nutshell, investors should keep an eye on YJ stock.