Earnings call transcript: Yunji posts narrower H1 2026 loss as revenue falls

Yunji reported a narrower first-half 2026 loss of RMB 72.4 million, down from RMB 100.7 million in the previous year, as revenue fell 39.2% to an all-time low. The company implemented a strategy to remove underperforming merchants and focus on private-label, higher-quality products, which helped maintain a gross margin of around 41%.

While the operating loss improved, the revenue decline remained a primary concern for investors. Yunji is positioning itself as a specialist in organic living, emphasizing organic health, food, and beauty. Management aims to build a more durable business by improving margins and repeat-purchase potential in these areas. The company's cash reserves of RMB 242.1 million allow it to continue investing in its strategy while managing losses.

However, without specific financial guidance, investors face limited visibility into the recovery of revenue.