Benzinga | Sep 30, 2020 06:03AM EDT

Yunji Says Generated RMB87.5M In Gross Merchandise Value During Live Streaming Debut on Douyin Platform

HANGZHOU, China, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Yunji Inc. ("Yunji" or the "Company") (NASDAQ:YJ), a leading membership-based social e-commerce platform, today reported that it generated RMB 87.5 million in gross merchandise value ("GMV") and 10.7 million views during its first-ever live streaming show on September 25 on Douyin, a leading Chinese live streaming platform owned by Bytedance, the parent company of TikTok.



During the live streaming debut, Yunji Founder and CEO Shanglue Xiao made a guest appearance on host Yonghao Luo's live streaming room. Mr. Xiao introduced over 40 products that came from the Company's superior supply chain with attractive price points to consumers. The Company's product offerings during the live streaming event included those in categories such as home appliances, snacks, personal care and cosmetics. Yunji has invested in several emerging brands that were featured during the event, such as "Adopt a Cow" and "Durian and Mango." Yunji's first-ever live streaming show on an external platform produced strong results, enabling it to expand its line of quality, curated products and empowering its high-quality emerging brands.

"We are excited about Yunji's performance during its live streaming debut on the Douyin platform, which offers significant advantages for our consumers," said Mr. Xiao. "As we look forward, we plan to continue to differentiate our Company by leveraging our product curation and quality supply chain systems in order to expand upon our successes to the benefit our growing base of users throughout China."

Mr. Xiao added, "In the remainder of 2020 and beyond, we will continue to expand our live streaming capabilities and increase consumer access to our products through a broader range of platforms. In September, for example, we worked in collaboration with China's leading online farm produce brand, Xiyu Mei Nong, to launch a special training program for streamers specializing in the food and fruit product categories. After intensive training sessions and field practice, streamers will be able to leverage their knowledge and expertise to promote Yunji products across a number of short-form video and live streaming platforms, such as Douyin and Kuaishou."