HANGZHOU, China, June 29, 2021 /PRNewswire/ -- Yunji Inc. ("Yunji" or the "Company") (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced that it has officially launched its "Yunji 99" special sales portal on its Yunji App. Prominently featured on the Yunji app's main page, the portal funnels the platform's core traffic to a refined selection of megahit products across all categories. The addition of this section reinforces the Company's strategy of cultivating megahit product sales by connecting Yunji members to quality items with viral appeal.
The "Yunji 99" special sale portal will feature a curated selection of up to 99 products each day. Products will be selected based on sales volume and customer ratings, highlighting items with cumulative sales of more than 100,000 units and top selling products from each category. Of the selection, the top ten best sellers will be highly endorsed. Providing such high-quality brands at affordable prices enhances the Yunji shopping experience and encourages consumer orders. The Company will continue to optimize its merchandise selection and utilize data-driven insights to enhance the Yunji shopping experience and provide its users a true one-stop solution.
Shanglue Xiao, Founder and CEO of Yunji, commented, "Our hope is to build the Yunji 99 portal into an internet-wide hotspot for some of the best-selling products at great value. This latest update of our mobile app connects the back-end commodity supply chain and our front-end users, leveraging big data to create an integrated marketing platform. This announcement is a key step forward in our ongoing efforts to channel traffic from the public domain to our own platform. Through numerous partnerships and collaborations, we are utilizing content distribution channels, including short-form videos and livestreaming platforms, to generate more exposure and interest in our products and create a true one-stop brand marketing solution."
Safe Harbor Statements
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue" or other similar expressions. Among other things, the quotations from management in this announcement, as well as Yunji's strategic and operational plans, contain forward-looking statements. Yunji may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Yunji's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Yunji's growth strategies; its future business development, results of operations and financial condition; its ability to understand buyer needs and provide products and services to attract and retain buyers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to rely on merchants and third-party logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with merchants; trends and competition in China's e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of China's e-commerce market; PRC governmental policies and regulations relating to Yunji's industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Yunji's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Yunji undertakes no obligation to update any forward-looking statement, except as required under applicable law.
About Yunji Inc.
Yunji Inc. is a leading social e-commerce platform in China that has pioneered a unique, membership-based model to leverage the power of social interactions. The Company's e-commerce platform offers high-quality products at attractive prices across a wide variety of categories catering to the day-to-day needs of Chinese consumers. In addition, the Company uses advanced technologies including big data and artificial intelligence to optimize user experience and incentivize members to promote the platform as well as share products with their social contacts. Through deliberate product curation, centralized merchandise sourcing, and efficient supply chain management, Yunji has established itself as a trustworthy e-commerce platform with high-quality products and exclusive membership benefits, including discounted prices.
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Investor Relations Contact
Phone: +1 (646) 224-6957
Phone: +1 (646) 224-6957
SOURCE Yunji Inc.