Yunji announces finance leadership change as senior director resigns

HANGZHOU, China - Yunji Inc. (NASDAQ:YJ), a membership-based social e-commerce platform currently trading at $1.84 per share, announced Thursday that Senior Financial Director Yeqing Cui has resigned as finance in charge of the company, effective immediately. The company has seen its stock decline 34% over the past year, though it’s up 14% year-to-date.

The company said Cui’s departure was for personal reasons. Nan Song, also a Senior Financial Director at Yunji, will succeed Cui in the finance leadership role and will report directly to Chairman and Chief Executive Officer Shanglue Xiao. According to InvestingPro data, Song inherits a challenging position, with the company’s revenue declining nearly 35% in the last twelve months.

Song brings significant internal experience to the position, having worked at Yunji since August 2015 in progressively responsible financial roles, including General Ledger Accountant, Finance Manager, Head of the Financial Analysis Department, and most recently as Senior Finance Director.

Before joining Yunji, Song spent two years at Zhejiang Xiaoye Network Technology Co., Ltd from 2013 to 2015. She holds a bachelor’s degree in Accounting from Zhejiang University of Finance & Economics, which she received in 2016.

Yunji operates as an e-commerce platform in China that utilizes a membership-based model centered around social interactions. The company offers products across various categories for everyday consumer needs.

The announcement was made in a company press release statement.

In other recent news, Yunji Inc. reported a significant decrease in its revenue for the fourth quarter of 2024, with a 35% year-on-year drop to 97.1 million yuan, down from 149.1 million yuan. Additionally, the company managed to reduce its loss per share to 1.0 RMB cents, compared to a loss of 3.0 RMB cents in the same period the previous year. These developments reflect the company’s ongoing strategy to refine its product selection and optimize its suppliers and merchants, which has impacted sales in the short term. Yunji Inc. also filed its unaudited financial results for the fourth quarter and full-year 2024 with the U.S. Securities and Exchange Commission. While the filing did not provide specific figures for the full-year results, it confirmed the availability of the latest financial data for investor scrutiny. The report was signed by Senior Financial Director Yeqing Cui, ensuring compliance with SEC reporting requirements. Investors are advised that the information is based on the company’s official SEC filing.

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