- Yunji Inc (NASDAQ:YJ) reported a first-quarter FY22 sales decline of 49.3% year-on-year, to RMB342.6 million ($54 million), compared to RMB675.4 million last year.
- The decrease was primarily due to the negative impact of the outbreaks of the highly-transmissible Delta and Omicron variants of COVID-19 in early 2022 on the company’s operations.
- The repeat purchase rate in the twelve months ended March 31, 2022, was 80.2%.
- The operating expenses decreased by 43.2% Y/Y to RMB154.9 million ($24.4 million).
- The operating margin was 0.7%, and operating income for the quarter was RMB2.4 million ($0.4 million).
- The company held $117.2 million in cash and equivalents as of March 31, 2022.
- Adjusted net loss was RMB(30.6) million or $(4.8) million) versus adjusted net income of RMB17.1 million a year ago. Loss per share for the quarter was RMB(0.02).
- Price Action: YJ shares are trading lower by 6.03% at $1.09 on the last check Tuesday.
‘If COVID rising again in Gauteng, South Africa; it’s likely driven in part by emergence of B4, B5 omicron variants. Experimental evidence indicates vaccine induced antibodies don’t neutralize B4, B5 as well as B1, B2…’
recent tweet from former FDA Commissioner Scott Gottlieb: https://twitter.com/ScottGottliebMD/status/1517566054574272513
-TradeXchange
