Benzinga | Oct 30, 2020 06:07AM EDT

Yunji To Form New Partnerships With Leading Agricultural Brands to Better Promote Their Products Across Different Regions In China

Yunji Inc. ("Yunji" or the "Company") (NASDAQ:YJ), a leading membership-based social e-commerce platform, today announced plans to form new partnerships with leading agricultural brands to better promote their products across different regions of China. This initiative is part of the Company's ongoing Supply Chain Differentiation Program, which aims to use Yunji's platform and resources to offer differentiated products, better support quality suppliers, and promote economic opportunities through e-commerce. These new partnerships will also enhance the Company's value proposition for members by responsibly and efficiently sourcing quality products at attractive prices.

As part of this initiative, Yunji recently signed a strategic cooperation agreement with Balinyouqi Lamb Industry Base, a company based in the Inner Mongolia Autonomous Region. Together, the two companies will initiate the construction of an ecological lamb warehouse and Lamb sourced from this warehouse will be exclusively sold through Yunji's platform to its members.

This new partnership comes at an exciting time for Yunji, and follows the Company's recent collaborations with innovative merchants, which have become commercial successes. For example, the Company utilized its consumer behavior insights to advise ginseng merchants in Tonghua, Jilin Province in developing new ginseng milk products. Since the initial release, these new products have become very popular among customers. Additionally, Yunji advised merchants in Dangshan County, Anhui Province, in developing a unique pear paste product that has been registered with the U.S. Food and Drug Administration.

Mr. Shanglue Xiao, Founder and CEO of Yunji, commented, "We are pleased to announce our increased support of regional agricultural providers across China. This initiative is a true win-win for both Yunji and China's agricultural industry. We are confident that our partnerships with local suppliers and universities will help us further develop our differentiated supply chain while also alleviating poverty and promoting the revitalization of rural areas through e-commerce. Looking ahead, we believe that our close proximity to the product planning and brand building processes will continue to serve as a significant competitive advantage, allowing us to discover more agricultural products that meet the specific needs of our members and improve their quality of life."