Beijing Yunji Technology (2670) investor relations material

Executive summary

• Revenue rose 71.6% year-over-year to RMB188.0 million, driven by strong growth in robots, function kits, AI digitalization systems, and overseas expansion.

• Loss attributable to equity shareholders narrowed by 22.2% to RMB111.0 million, but adjusted net loss increased 246.7% to RMB108.8 million due to higher R&D and impairment losses.

• Gross profit increased to RMB65.8 million, but gross margin declined to 35.0% from 40.7% due to a shift in product mix toward lower-margin offerings.

• Overseas revenue surged 638.1% to RMB5.4 million, reflecting successful international expansion in the UAE, Panama, and Thailand.

Financial highlights

• Robots and function kits revenue grew 93.8% year-over-year to RMB157.2 million, accounting for 83.6% of total revenue.

• AI digitalization systems revenue increased 8.3% to RMB30.8 million, with paying HDOS subscribers up 621% year-over-year.

• R&D expenses rose 141.0% to RMB71.1 million, representing 37.8% of revenue.

• Administrative expenses fell 27.8% to RMB39.3 million, mainly due to lower listing and share-based payment expenses.

• Impairment losses on trade receivables increased 428.0% to RMB27.6 million.

• Basic loss per share improved to RMB1.6 from RMB2.3 year-over-year.

Outlook and guidance

• Plans to advance productization and commercialization of robots, expand HDOS and World Value Model capabilities, and accelerate overseas market expansion over the next 12–18 months.

• Focus on enhancing product competitiveness, operating quality, recurring revenue streams, and customer retention.

• Will continue to invest in R&D, expand product coverage, and pursue high-value overseas markets such as hospitals and mixed-use developments.