Technology
OneConnect Announces 2024 Annual General Meeting Results
Published
11 months agoon
By

SHENZHEN, China, May 28, 2024 /PRNewswire/ — OneConnect Financial Technology Co., Ltd. (“OneConnect” or the “Company”) (NYSE: OCFT and HKEX: 6638), a leading technology-as-a-service provider for financial services industry in China, today announced the results of its annual general meeting of shareholders held in Shenzhen on May 28, 2024.
At the meeting, the shareholders of OneConnect approved, ratified and/or confirmed the following resolution:
To receive and adopt the audited consolidated financial statements and the reports of the directors of the Company (the “Directors”) and auditor for the year ended December 31, 2023.(i) To re-elect Mr. Chongfeng Shen as an executive Director.
(ii) To re-elect Mr. Michael Guo as a non-executive Director.
(iii) To re-elect Ms. Wenjun Wang as a non-executive Director.
(iv) To re-elect Mr. Wing Kin Anthony Chow as an independent non-executive Director.
(v) To re-elect Mr. Koon Wing Ernest Ip as an independent non-executive Director.
(vi) To authorize the board of Directors (the “Board”) to fix the remuneration of the Directors.To re-appoint PricewaterhouseCoopers as auditor and to authorize the Board to fix its remuneration.
About OneConnect
OneConnect Financial Technology Co., Ltd. is a technology-as-a-service provider for financial services industry. The Company integrates extensive financial services industry expertise with market-leading technology to provide technology applications and technology-enabled business services to financial institutions. The integrated solutions and platform the Company provides include digital banking solution, digital insurance solution and Gamma Platform, which is a technology infrastructural platform for financial institutions. The Company’s solutions enable its customers’ digital transformations, which help them improve efficiency, enhance service quality, and reduce costs and risks.
The Company has established long-term cooperation relationships with financial institutions to address their needs of digital transformation. The Company has also expanded its services to other participants in the value chain to support the digital transformation of financial services eco-system. In addition, the Company has successfully exported its technology solutions to overseas financial institutions.
For more information, please visit ir.ocft.com.
Contacts
Investor Relations:
OCFT IR Team
OCFT_IR@ocft.com
Media Relations:
OCFT PR Team
pub_jryztppxcb@pingan.com.cn
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SOURCE OneConnect Financial Technology Co., Ltd.
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MEXC Announces the Listing of Balance (EPT) with 6,000,000 EPT and 50,000 USDT in Rewards
Published
38 minutes agoon
April 21, 2025By

VICTORIA, Seychelles, April 21, 2025 /PRNewswire/ — MEXC, a leading global cryptocurrency exchange, has announced that it will list Balance (EPT) on April 21, 2025 (UTC). To celebrate the listing, the platform has launched a series of events featuring a total reward of 6,000,000 EPT and 50,000 USDT for users.
Balance is an innovative Web3 platform that integrates AI and blockchain technologies to create immersive digital interaction experiences. Developed by the team behind E-PAL, the world’s largest game companion platform. Balance offers services such as Human Epal, AI Epal, AI-Driven Battle Report System, and more. These features effectively address key challenges in blockchain gaming, including security, scalability, and development efficiency.
$EPT is the native utility token of the Balance ecosystem, with a total supply of 10 billion tokens. It functions as the core medium powering payments, governance participation, and on-chain transactions across the platform, forming a highly synergistic and sustainable internal economy.
In celebration of the Balance (EPT) listing, MEXC is launching a series of events to offer users exclusive opportunities to earn generous rewards.
The key details are as follows:
Event 1: EPT Launchpool – Stake USDT, MX and EPT to Share 4,800,000 EPT
Event Period: April 21, 2025, 12:00 – April 24, 2025, 10:00 (UTC)
Users can stake USDT, MX, or EPT to earn valuable rewards through MEXC’s EPT Launchpool.
Event 2: Join Airdrop+ to Share 1,200,000 EPT & 50,000 USDT Bonus
Event Period: April 21, 2025, 12:00 – May 1, 2025, 10:00 (UTC)
Benefit 1: Deposit and share 960,000 EPT (New user exclusive)
Benefit 2: Futures Challenge — Trade to share 50,000 USDT in Futures bonus (For all users)
Benefit 3: Invite new users and share 240,000 EPT (For all users)
Event 3: Spread the Word & Win
Event Period: April 21, 2025, 10:00 – April 27, 2025, 23:59 (UTC)
Users who share the EPT events on social media during the event period can win extra rewards.
As a global exchange, MEXC drives innovation across emerging sectors such as Web3 gaming, AI, and DePIN by offering deep liquidity, streamlined market access, and performance-based incentive programs. The listing of EPT opens new investment avenues in the rapidly evolving AI-driven gaming space.
MEXC has established itself as a leading exchange by consistently offering users early access to high-potential crypto assets. In 2024 alone, the platform listed 2,376 new tokens, including 1,716 initial listings. According to the latest TokenInsight report, MEXC led the industry with 461 spot listings between November 1, 2024, and February 15, 2025. During this period, the exchange maintained a high listing frequency, consistently ranking among the top six platforms, demonstrating its agility in capturing emerging market trends. Looking ahead, MEXC remains committed to expanding its asset offerings and helping users seize timely opportunities in the fast-moving crypto market.
For full event details and participation rules, please visit here.
About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
MEXC Official Website| X | Telegram |How to Sign Up on MEXC
Risk Disclaimer:
The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.
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Technology
Yunji Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results
Published
38 minutes agoon
April 21, 2025By

HANGZHOU, China, April 21, 2025 /PRNewswire/ — Yunji Inc. (“Yunji” or the “Company”) (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024[1].
Fourth Quarter 2024 Highlights
Total revenues in the fourth quarter of 2024 were RMB97.1 million (US$13.3 million), compared with RMB149.1 million in the same period of 2023. The change was primarily due to soft consumer confidence and the Company’s continued strategy to refine its product selection across all categories and optimize its selection of suppliers and merchants, which had a near-term impact on sales.Repeat purchase rate[2] in the twelve months ended December 31, 2024 was 71.9%.
Mr. Shanglue Xiao, Chairman and Chief Executive Officer of Yunji, said, “As we navigate the current market landscape, we are making progress in repositioning Yunji as the leading platform for organic health products. We have focused our operations on high-margin, high-repeat purchase categories, particularly organic health foods and nutritional products. In 2025, we aim to transform Yunji into an experiential health and wellness destination through our expanding health-focused ecosystem.”
“In the fourth quarter, we optimized our cost structure by refining our staff structure and significantly reducing fulfillment and technology expenses year-over-year. As we enter 2025, we will maintain financial discipline while investing strategically to drive sustainable growth and improve profitability.” said Mr. Yeqing Cui, Senior Financial Director of Yunji.
Fourth Quarter 2024 Unaudited Financial Results
Total revenues were RMB97.1 million (US$13.3 million), compared with RMB149.1 million in the same period of 2023. This change was primarily due to soft consumer confidence and the Company’s continued strategy to refine its product selection across all categories and optimize its selection of suppliers and merchants, which had a near-term impact on sales.
Revenues from sales of merchandise were RMB75.5 million (US$10.3 million), compared with RMB112.3 million in the same period of 2023.Revenues from the marketplace business were RMB19.4 million (US$2.7 million), compared with RMB34.3 million in the same period of 2023.Other revenues were RMB2.2 million (US$0.3 million), compared with RMB2.5 million in the same period of 2023.
Total cost of revenues decreased by 36.9% to RMB50.2 million (US$6.9 million), or 51.7% of total revenues, from RMB79.6 million, or 53.4% of total revenues, in the same period of 2023. The decrease was primarily attributable to the change in merchandise sales, for which revenues and cost of revenues are recognized on a gross basis. Total cost of revenues, which primarily comprises the costs related to the sales of merchandise, decreased accordingly in the fourth quarter of 2024.
Total operating expenses increased by 14.9% to RMB126.2 million (US$17.3 million) from RMB109.8 million in the same period of 2023.
Fulfillment expenses decreased by 33.9% to RMB16.4 million (US$2.3 million), or 16.9% of total revenues, from RMB24.8 million, or 16.6% of total revenues, in the same period of 2023. The decrease was primarily due to (i) reduced personnel costs as a result of staffing structure refinements, (ii) reduced warehousing and logistics expenses due to lower merchandise sales, and (iii) decreased service fees charged by third-party payment settlement platforms.Sales and marketing expenses increased by 6.0% to RMB30.2 million (US$4.1 million), or 31.1% of total revenues, from RMB28.5 million, or 19.1% of total revenues, in the same period of 2023. The increase was primarily due to an increase in business promotion expenses.Technology and content expenses decreased by 29.2% to RMB8.5 million (US$1.2 million), or 8.8% of total revenues, from RMB12.0 million, or 8.1% of total revenues, in the same period of 2023. The decrease was primarily due to (i) the reduction in personnel costs as a result of staffing structure refinements, and (ii) reduced server costs.General and administrative expenses increased by 59.8% to RMB71.1 million (US$9.7 million), or 73.2% of total revenues, from RMB44.5 million, or 29.8% of total revenues, in the same period of 2023. The increase was primarily due to (i) an increase in severance pay as a result of staffing structure refinements, and (ii) an impairment of long-lived assets other than goodwill, partially offset by a decrease in an allowance for credit losses.
Loss from operations was RMB77.7 million (US$10.6 million), compared with RMB39.5 million in the same period of 2023.
Financial loss, net was RMB2.6 million (US$0.4 million), compared with financial loss, net of RMB23.4 million in the same period of 2023, primarily due to a decrease in the fair value changes of equity securities investments.
Net loss was RMB85.0 million (US$11.7 million), compared with RMB65.9 million in the same period of 2023.
Adjusted net loss (non-GAAP)[3] was RMB84.5 million (US$11.6 million), compared with RMB65.0 million in the same period of 2023.
Basic and diluted net loss per share attributable to ordinary shareholders were both RMB0.04 (US$0.01), compared with RMB0.03 in the same period of 2023.
Fiscal Year 2024 Unaudited Financial Results
Total revenues were RMB417.7 million (US$57.2 million), compared with RMB640.2 million in the full year of 2023. The decrease was primarily due to the same factors that led to the quarterly decrease.
Revenues from sales of merchandise were RMB330.5 million (US$45.3 million), compared with RMB500.7 million in the full year of 2023.Revenues from the marketplace business were RMB79.5 million (US$10.9 million), compared with RMB130.2 million in the full year of 2023.Other revenues were RMB7.7 million (US$1.0 million), compared with RMB9.3 million in the full year of 2023.
Total cost of revenues decreased by 36.5% to RMB211.3 million (US$28.9 million) from RMB332.8 million in the full year of 2023. This decrease was primarily attributable to the same factors that led to the quarterly decrease.
Total operating expenses were RMB349.2 million (US$47.8 million), compared with RMB403.0 million in the full year of 2023.
Fulfillment expenses decreased by 29.2% to RMB76.1 million (US$10.4 million), or 18.2% of total revenues, from RMB107.5 million, or 16.8% of total revenues, in the full year of 2023. The decrease was primarily due to the same factors that led to the quarterly decrease.Sales and marketing expenses decreased by 19.8% to RMB97.0 million (US$13.3 million), or 23.2% of total revenues, from RMB121.0 million, or 18.9% of total revenues, in the full year of 2023. The decrease was mainly due to the reduction in member management fees.Technology and content expenses decreased by 14.8% to RMB45.6 million (US$6.3 million), or 10.9% of total revenues, from RMB53.5 million, or 8.4% of total revenues, in the full year of 2023. The decrease was primarily due to the same factors that led to the quarterly decrease.General and administrative expenses increased by 7.9% to RMB130.5 million (US$17.9 million), or 31.2% of total revenues, from RMB121.0 million, or 18.9% of total revenues, in the full year of 2023. The increase was primarily due to the same factors that led to the quarterly decrease.
Loss from operations was RMB136.3 million (US$18.7 million), compared with RMB80.6 million in the full year of 2023.
Financial income, net was RMB17.3 million (US$2.4 million), compared with financial loss, net of RMB60.2 million in the full year of 2023, primarily due to an increase in the fair value changes of equity securities investments.
Net loss was RMB123.1 million (US$16.9 million), compared with RMB165.1 million in the full year of 2023.
Adjusted net loss[3] was RMB120.7 million (US$16.5 million), compared with RMB166.0 million in the full year of 2023.
Basic and diluted net loss per share attributable to ordinary shareholders were both RMB0.06 (US$0.01), compared with RMB0.08 in the full year of 2023.
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses adjusted net loss as a supplemental measure to review and assess operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net loss as net loss excluding share-based compensation.
The Company presents adjusted net loss because it is used by management to evaluate operating performance and formulate business plans. Adjusted net loss enables management to assess operating performance without considering the impact of share-based compensation recorded under ASC 718, “Compensation-Stock Compensation.” The Company also believes that the use of this non-GAAP measure facilitates investors’ assessment of operating performance.
This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using adjusted net loss is that it does not reflect all items of income and expense that affect the Company’s operations. Share-based compensation has been and may continue to be incurred in Yunji’s business and is not reflected in the presentation of adjusted net loss. Further, this non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited.
The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating performance. Yunji encourages investors and others to review its financial information in its entirety and not rely on a single financial measure.
For more information on the non-GAAP financial measures, please see the table captioned “Reconciliation of Non-GAAP Measures to the Most Directly Comparable Financial Measures” set forth at the end of this press release.
Conference Call
The Company will host a conference call on Monday, April 21, 2025 at 7:30 A.M. Eastern Time or 7:30 P.M. Beijing/Hong Kong Time to discuss its earnings. Listeners may access the call by dialing the following numbers:
International:
1-412-902-4272
United States Toll Free:
1-888-346-8982
Mainland China Toll Free:
4001-201203
Hong Kong Toll Free:
800-905945
Conference ID:
Yunji Inc.
A telephone replay of the call will be available after the conclusion of the conference call for one week.
Dial-in numbers for the replay are as follows:
United States Toll Free
1-877-344-7529
International
1-412-317-0088
Replay Access Code
1068073
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.
For more information, please visit https://investor.yunjiglobal.com/
Investor Relations Contact
Yunji Inc.
Investor Relations
Email: Yunji.IR@icrinc.com
Phone: +1 (646) 224-6957
ICR, LLC
Robin Yang
Email: Yunji.IR@icrinc.com
Phone: +1 (646) 224-6957
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
As of
December 31,
2023
December 31,
2024
RMB
RMB
US$
ASSETS
Current Assets
Cash and cash equivalents
517,542
219,365
30,053
Restricted cash
27,169
23,467
3,215
Short-term investments
7,195
–
–
Accounts receivable, net
64,312
56,233
7,704
Advance to suppliers
14,058
9,810
1,344
Inventories, net
42,716
29,448
4,034
Amounts due from related parties
1,361
662
91
Prepaid expenses and other current assets[4]
134,247
177,187
24,275
Total current assets
808,600
516,172
70,716
Non-current assets
Property and equipment, net
175,451
205,450
28,147
Land use rights, net[5]
–
174,437
23,898
Long-term investments
364,159
364,534
49,941
Operating lease right-of-use assets, net
16,507
13,809
1,892
Other non-current assets[6]
189,067
78,050
10,692
Total non-current assets
745,184
836,280
114,570
Total assets
1,553,784
1,352,452
185,286
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless otherwise noted)
As of
December 31,
2023
December 31,
2024
RMB
RMB
US$
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable
96,782
54,678
7,491
Deferred revenue
9,412
8,596
1,178
Incentive payables to members[7]
124,889
66,039
9,047
Member management fees payable
4,373
1,263
173
Other payable and accrued liabilities
109,200
126,177
17,286
Amounts due to related parties
3,535
1,645
225
Operating lease liabilities – current
3,376
3,845
527
Total current liabilities
351,567
262,243
35,927
Non-current liabilities
Operating lease liabilities
11,122
7,808
1,070
Other non-current liabilities
–
4,355
597
Total non-current liabilities
11,122
12,163
1,667
Total Liabilities
362,689
274,406
37,594
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless otherwise noted)
As of
December 31,
2023
December 31,
2024
RMB
RMB
US$
Shareholders’ equity
Ordinary shares
70
70
10
Less: Treasury stock
(116,108)
(113,334)
(15,527)
Additional paid-in capital
7,328,680
7,328,336
1,003,978
Statutory reserve
16,254
16,726
2,291
Accumulated other comprehensive income
85,291
93,145
12,761
Accumulated deficit
(6,123,971)
(6,247,557)
(855,911)
Total Yunji Inc. shareholders’ equity
1,190,216
1,077,386
147,602
Non-controlling interests
879
660
90
Total shareholders’ equity
1,191,095
1,078,046
147,692
Total liabilities and shareholders’ equity
1,553,784
1,352,452
185,286
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Year Ended
December 31,
2023
December 31,
2024
December 31,
2023
December 31,
2024
RMB
RMB
US$
RMB
RMB
US$
Revenues:
Sales of merchandise, net
112,330
75,499
10,343
500,651
330,535
45,283
Marketplace revenue
34,259
19,451
2,665
130,188
79,466
10,887
Other revenues
2,558
2,173
298
9,370
7,650
1,048
Total revenues
149,147
97,123
13,306
640,209
417,651
57,218
Operating cost and expenses:
Cost of revenues
(79,613)
(50,240)
(6,883)
(332,774)
(211,311)
(28,949)
Fulfilment
(24,845)
(16,372)
(2,243)
(107,472)
(76,126)
(10,429)
Sales and marketing
(28,478)
(30,173)
(4,134)
(121,039)
(96,965)
(13,284)
Technology and content
(12,033)
(8,492)
(1,163)
(53,490)
(45,627)
(6,251)
General and administrative
(44,477)
(71,146)
(9,747)
(120,951)
(130,462)
(17,873)
Total operating cost and expenses
(189,446)
(176,423)
(24,170)
(735,726)
(560,491)
(76,786)
Other operating income
780
1,650
226
14,898
6,544
896
Loss from operations
(39,519)
(77,650)
(10,638)
(80,619)
(136,296)
(18,672)
Financial (loss)/ income, net
(23,427)
(2,578)
(353)
(60,226)
17,333
2,375
Foreign exchange income/(loss), net
723
(2,608)
(357)
(6,743)
2,127
291
Other non-operating income/(loss),
net
31
158
22
(2,405)
785
108
Loss before income tax expense, and
equity in loss of affiliates, net of tax
(62,192)
(82,678)
(11,326)
(149,993)
(116,051)
(15,898)
Income tax expense
(1,328)
(368)
(50)
(7,851)
(2,009)
(275)
Equity in loss of affiliates, net of tax
(2,331)
(1,998)
(274)
(7,276)
(5,061)
(693)
Net loss
(65,851)
(85,044)
(11,650)
(165,120)
(123,121)
(16,866)
Less: net income/(loss) attributable to
non-controlling interests shareholders
11
9
1
9
(11)
(2)
Net loss attributable to YUNJI INC.
(65,862)
(85,053)
(11,651)
(165,129)
(123,110)
(16,864)
YUNJI INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (CONTINUED)
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Year Ended
December 31,
2023
December 31,
2024
December 31,
2023
December 31,
2024
RMB
RMB
US$
RMB
RMB
US$
Net loss attributable to ordinary shareholders
(65,862)
(85,053)
(11,651)
(165,120)
(123,110)
(16,864)
Net loss
(65,851)
(85,044)
(11,650)
(165,120)
(123,121)
(16,866)
Other comprehensive income
Foreign currency translation adjustment
(10,302)
12,023
1,647
22,178
7,854
1,076
Total comprehensive loss
(76,153)
(73,021)
(10,003)
(142,942)
(115,267)
(15,790)
Less: total comprehensive income/(loss) attributable to non-
controlling interests shareholders
11
9
1
9
(11)
(2)
Total comprehensive loss attributable to YUNJI INC.
(76,164)
(73,030)
(10,004)
(142,951)
(115,256)
(15,788)
Net loss attributable to ordinary shareholders
(65,862)
(85,053)
(11,651)
(165,129)
(123,110)
(16,864)
Weighted average number of ordinary shares used in computing
net loss per share, basic and diluted
1,966,998,532
1,968,797,989
1,968,797,989
1,971,108,505
1,967,498,669
1,967,498,669
Net loss per share attributable to ordinary shareholders
Basic
(0.03)
(0.04)
(0.01)
(0.08)
(0.06)
(0.01)
Diluted
(0.03)
(0.04)
(0.01)
(0.08)
(0.06)
(0.01)
YUNJI INC.
NOTES TO UNAUDITED FINANCIAL INFORMATION
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Year Ended
December 31,
2023
December 31,
2024
December 31,
2023
December 31,
2024
RMB
RMB
US$
RMB
RMB
US$
Share-based compensation expenses included in:
Technology and content
401
349
48
1,554
1,450
198
General and administrative
377
164
22
503
774
106
Fulfillment
46
35
5
(2,525)
92
13
Sales and marketing
57
35
5
(417)
114
16
Total
881
583
80
(885)
2,430
333
YUNJI INC.
RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY COMPARABLE FINANCIAL MEASURES
(All amounts in thousands, except for share and per share data, unless otherwise noted)
For the Three Months Ended
For the Year Ended
December 31,
2023
December 31,
2024
December 31,
2023
December 31,
2024
RMB
RMB
US$
RMB
RMB
US$
Reconciliation of Net Loss to Adjusted Net Loss:
Net loss
(65,851)
(85,044)
(11,650)
(165,120)
(123,121)
(16,866)
Add: Share-based compensation
881
583
80
(885)
2,430
333
Adjusted net loss
(64,970)
(84,461)
(11,570)
(166,005)
(120,691)
(16,533)
[1]. This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB7.2993 to US$1.00, the exchange rate in effect as of December 31, 2024 as set forth in the H.10 statistical release of The Board of Governors of the Federal Reserve System.
[2]. “Repeat purchase rate” in a given period is calculated as the number of transacting members who purchased not less than twice divided by the total number of transacting members during such period. “Transacting member” in a given period refers to a member who successfully promotes Yunji’s products to generate at least one order or places at least one order on Yunji’s platform, regardless of whether any product in such order is ultimately sold or delivered or whether any product in such order is returned. “Repeat purchase rate” only considers orders placed through the Company’s app. Repeat purchases made through the Company’s mini-programs are excluded from the calculation.
[3]. Adjusted net loss is a non-GAAP financial measure, which is defined as net loss excluding share-based compensation expense. See “Reconciliation of Non-GAAP Measures to the Most Directly Comparable Financial Measures” set forth at the end of this press release.
[4]. As of December 31, 2024, Short-term loan receivables of amount RMB149,570 were included in the prepaid expenses and other current assets balance, which represent the principal and interest to be collected on loans provided by the Group to third-party companies.
[5]. In June 2024, the Company won the bid for a parcel of land located in Xiaoshan District, Hangzhou, China, covering approximately 10 thousand square meters (the “Hangzhou Land Parcel”) and entered into an agreement with the local government to acquire the land use right of the Hangzhou Land Parcel for an aggregate consideration of approximately RMB171.5 million. In July 2024, the Company obtained the certificate of the land use right and carried the land use right at cost less accumulated amortization and impairment losses, if any. The Company intends to construct a new office building on the Hangzhou Land Parcel to use it as its new headquarters and also lease offices to external parties. The total amount for the land acquisition and office building construction is expected to be approximately RMB600.0 million. The Company intends to fund the land acquisition and building construction through cash on hand and bank financing.
[6]. Impairment of long-lived assets other than goodwill recognized for the years ended December 31, 2023 and 2024 was nil and RMB26.1 million, respectively, which was recorded in general and administrative expenses.
[7]. As of December 31, 2024, the decrease in incentive payables was primarily due to derecognition of long-aged payables to inactive members.
View original content:https://www.prnewswire.com/news-releases/yunji-announces-fourth-quarter-and-fiscal-year-2024-unaudited-financial-results-302433192.html
SOURCE Yunji Inc.
Technology
Industrial Controls Market to Reach $321.6 billion, Globally, by 2034 at 7.6% CAGR: Allied Market Research
Published
2 hours agoon
April 21, 2025By

The industrial controls market growth is driven by the increasing adoption of automation across industries to enhance productivity, efficiency, and safety. The rise in Industry 4.0 initiatives, integrating IoT, AI, and cloud computing into manufacturing processes, has significantly boosted demand for advanced control systems. Additionally, the growing emphasis on energy efficiency and regulatory compliance has led industries to invest in smart control solutions. The expansion of industrial sectors such as automotive, oil & gas, pharmaceuticals, and food & beverage further fuels market growth. Moreover, the shift toward wireless and remote monitoring systems, coupled with advancements in robotics and predictive maintenance, is accelerating the adoption of industrial controls.
WILMINGTON, Del., April 21, 2025 /PRNewswire/ — Allied Market Research published a report, titled, “Industrial Controls Market by Control System (Programmable Logic Controllers (PLCs), Distributed Control Systems (DCS), Supervisory Control and Data Acquisition (SCADA), and Others), Component (Surge Protectors, Enclosure Products, PCB Connectors and Terminals, Power Supplies, Industrial Ethernet, and Others), and End User (Automotive, Utility, Electronics and Semiconductors, Mining, and Others): Global Opportunity Analysis and Industry Forecast, 2025-2034″. According to the report, the “industrial controls market” was valued at $157.3 billion in 2024, and is estimated to reach $321.6 billion by 2034, growing at a CAGR of 7.6% from 2025 to 2034.
Download Research Report Sample & TOC: https://www.alliedmarketresearch.com/request-sample/459
(We are providing report as per your research requirement, including the Latest Industry Insight’s Evolution, and Potential)
212-Tables 85-Charts 426-Pages
Prime determinants of growth
The industrial controls market is expected to witness notable growth owing to growth in adoption of industrial automation, and the rise of Industry 4.0, smart factories, and connected devices, which is boosting demand for advanced control systems with real-time monitoring and predictive maintenance capabilities. Moreover, a rise in demand for robotics and process automation has boosted the demand for industrial controls market growth. However, high initial investment and maintenance costs may hamper the growth of the market. On the contrary, rise in demand for energy-efficient solutions offers potential growth opportunities for the industrial controls market.
Report coverage & details:
Report Coverage
Details
Forecast Period
2025–2034
Base Year
2024
Market Size in 2024
$157.3 billion
Market Size in 2034
$321.6 billion
CAGR
7.6 %
No. of Pages in Report
426
Segments Covered
Control System, Component, End User, and Region
Drivers
• Growth in Adoption of Industrial Automation
• Integration of IOT and AI in Industrial Controls
• Rise in Demand for Large-Scale Production in Manufacturing Sectors
Opportunity
• Expansion Through IOT-Enabled Smart Industrial Controls
• Smart Grid Deployment for Securing Critical Infrastructure from Cyber Threats
Restraint
High Initial Capital Investment and Integration Challenges
The Distributed Control Systems (DCS) segment held the highest market share in terms of revenue in 2024.
On the basis of control system, the Distributed Control Systems (DCS) segment held the highest market share in 2024, accounting for more than two-fifths of the global industrial controls market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to its widespread adoption in large-scale industrial processes that require centralized monitoring and control. DCS solutions offer high reliability, scalability, and real-time process automation, making them essential in industries such as oil & gas, power generation, chemicals, and pharmaceuticals. In addition, the integration of Industrial IoT (IIoT), AI-driven automation, and cloud-based analytics has further enhanced the efficiency and functionality of DCS, thus driving its demand. However, the Programmable Logic Controllers (PLCs) segment is projected to manifest the highest CAGR of 9.0% from 2025 to 2034.
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The Industrial Ethernet segment held the highest market share in terms of revenue in 2023.
On the basis of component, the industrial ethernet segment held the highest market share in 2024, accounting for more than one-fourth of the global Industrial controls market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the Industrial Ethernet segment is projected to manifest the highest CAGR of 9.0% from 2025 to 2034, owing to the increasing demand for high-speed, reliable, and scalable industrial communication networks. The growing adoption of Industry 4.0, smart factories, and IIoT-based automation solutions has accelerated the need for real-time data exchange, remote monitoring, and predictive maintenance, all of which are enabled by Industrial Ethernet.
Utility held the highest market share in terms of revenue in 2024.
On the basis of end user, the utility segment held the highest market share in terms of revenue in 2024, accounting for more than one-fourth of the industrial controls market revenue owing to increasing adoption of automation and smart grid technologies in power generation, water treatment, and energy distribution sectors. The growing demand for efficient power management, real-time monitoring, and grid stability solutions has driven the integration of industrial control systems such as SCADA, PLCs, and DCS in utility operations.
Asia-Pacific dominated the market in 2024.
On the basis of the region, Asia-Pacific held the highest market share in terms of revenue in 2024, accounting for more than two-fifths of the industrial controls market revenue owing to rapid industrialization, expanding manufacturing sectors, and significant investments in automation technologies across key economies such as China, India, Japan, and South Korea. The region’s strong presence in automotive, electronics, oil & gas, and energy industries has driven the demand for industrial control systems such as PLCs, SCADA, and DCS to enhance efficiency, productivity, and operational safety.
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Industrial Controls Market Key Players: –
ABB Ltd.Schneider ElectricHoneywell International Inc. Emerson Electric Co.Omron CorporationYokogawa Electric CorporationSiemensMitsubishi Electric CorporationRockwell Automation, Inc.KEYENCE CORPORATION
The report provides a detailed analysis of these key players in the industrial controls market. These players have adopted different strategies such as product launch, product development, partnership, investment, acquisition, and others to increase their market share and maintain dominant shares in different regions. For instance, in February 2024, Schneider Electric, in collaboration with Intel and Red Hat, unveiled a new Distributed Control Node (DCN) software framework aimed at advancing open automation in industrial settings. This initiative extends Schneider Electric’s EcoStruxure Automation Expert, enabling industries to transition to a software-defined, plug-and-produce model that enhances operations, ensures quality, reduces complexity, and optimizes costs.
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Industrial Controls Market Segmentation Overview:
By Control System
Programmable Logic Controllers (PLCs)Distributed Control Systems (DCS)Supervisory Control and Data Acquisition (SCADA)Others
By Component
Surge ProtectorsEnclosure ProductsPCB Connectors and TerminalsPower SuppliesIndustrial EthernetOthers
By End User
AutomotiveUtilityElectronics and SemiconductorsMiningOthers
By Region
North America: U.S., Canada, MexicoEurope: UK, Germany, France, Italy, Rest of EuropeAsia-Pacific: China, Japan, India, South Korea, Rest of Asia-PacificLAMEA: Latin America, Middle East, Africa
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We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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