XML 58 R38.htm IDEA: XBRL DOCUMENT v3.22.1

PRINCIPAL ACTIVITIES AND ORGANIZATION (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of principal subsidiaries

As of December 31, 2021, the Company’s principal subsidiaries are as follows:

Subsidiaries

Place of incorporation

Date of incorporation or acquisition

Percentage of direct or indirect

Principal activities

Yunji Holding Limited

Hong Kong

December 20, 2017

100

%

Investment holding

Chuangke Information Technology (Shenzhen) Co., Ltd.

Shenzhen

August 28, 2018

100

%

Technology development

Zhejiang Youji Supply Chain Management Co., Ltd.

Huzhou

November 30, 2016

100

%

Procurement

Anhui Delue Network Technology Co., Ltd.

Hefei

January 15, 2017

100

%

Customer service

Zhejiang Jiyuan Network Technology Co., Ltd.

Hangzhou

August 14, 2018

100

%

Procurement

Zhejiang Zhelue Network Technology Co., Ltd.

Hangzhou

May 23, 2016

100

%

Sales of merchandise

Hangzhou Jichuang Network Technology Co., Ltd.

Hangzhou

May 23, 2016

100

%

Investment holding

Yunji Hongkong Limited

Hong Kong

August 25, 2015

100

%

Procurement

Ningbo Yunchu Trading Co., Ltd.

Ningbo

May 10, 2018

100

%

Custom clearance

Hangzhou Yunchuang Sharing Network Technology Co., Ltd.

Hangzhou

June 13, 2018

100

%

Investment holding

Desking technology (HK) Co., Limited

Hong Kong

July 26, 2016

100

%

Investment holding and Financing solution

Jironghuishang Commercial Factoring (Tianjin) Co., Ltd.

Tianjin

October 16, 2018

100

%

Financing solution

Zhejiang Yunxuan Supply Chain Management Co., Ltd.

Hangzhou

August 9, 2018

100

%

Procurement

Schedule of variable interest entities

As of December 31, 2021, the Company’s principal consolidated VIEs and VIE’s subsidiaries are as follows:

Place of incorporation

Date of incorporation or acquisition

Percentage of direct or indirect

Principal activities

VIEs and VIE subsidiaries

Yunji Sharing Technology Co., Ltd.

Hangzhou

March 5,2018

100

%

Investment holding

Zhejiang Yunji Preferred E-Commerce Co., Ltd.

Hangzhou

June 13, 2018

100

%

Investment holding

Zhejiang Jishang Preferred E-Commerce Co., Ltd.

Hangzhou

April 22, 2016

100

%

Procurement

Zhejiang Jixiang E-commerce Co., Ltd. (“Jixiang”)

Hangzhou

August 14, 2018

100

%

E-Commerce

Hangzhou Fengjing Network Technology Co., Ltd.

Hangzhou

December 18, 2020

100

%

Investment holding

Ningbo Meishan Bonded Port Area Jichuang Taihong Venture Capital Partnership (LP) (“Jichuang Taihong”)

Ningbo

January 15, 2019

100

%

Investment holding

Hangzhou Heyi e-commerce Co., Ltd.

Hangzhou

August 5, 2020

100

%

E-Commerce

Anhui Yunhe Network Technology Co., Ltd. (“Yunhe”)

Hefei

March 28, 2019

100

%

Customer service and Procurement

Condensed Balance Sheet [Table Text Block]

The following disclosures present the operations and financial positions of the businesses that currently constitute the VIE entities as of and for the respective periods.):

		As of December 31,
		2020				2021
		RMB				RMB
Cash and cash equivalents			137,994				70,599
Restricted cash			125,844				62,243
Accounts receivable, net			12,204				4,028
Advance to suppliers			18,334				10,801
Inventories, net			3,500				1,694
Amounts due from the Group companies (2)			3,909,067				520,888
Amounts due from related parties (1)			6,603				1,178
Prepaid expense and other current assets			195,428				158,148
Property, equipment and software, net			23,698				11,191
Long-term investments			34,625				215,293
Operating lease right-of-use assets			8,612				3,852
Deferred tax assets			44,674				4,463
Other non-current assets			7,553				13,182
Total assets			4,528,136				1,077,560
Accounts payable			296,640				121,347
Deferred revenue			35,412				21,058
Incentive payables to members			8,212				6,085
Members management fee payable			45,841				7,328
Other payable and accrued liabilities			232,719				156,509
Amounts due to the Group companies (3)			4,142,953				793,245
Amounts due to related parties (1)			11,483				11,804
Operating lease liabilities, current			5,160				2,768
Operating lease liabilities, non-current			4,265				1,403
Deferred Tax Liability			—				—
Total liabilities (4)			4,782,685				1,121,547

Condensed financial statements

		Year Ended December 31,
		2019				2020				2021
		RMB				RMB				RMB
Revenues:
Third-party revenues			2,042,636				1,351,842				513,299
Intra-Group revenue			2,528,138				1,770,244				501,168
Total revenues			4,570,774				3,122,086				1,014,467
Operating cost and expenses:
Third-party operating cost and expenses			(3,854,682	)			(2,566,806	)			(906,559	)
Intra-Group operating cost and expenses			(750,197	)			(565,409	)			(118,456	)
Total operating cost and expenses			(4,604,879	)			(3,132,215	)			(1,025,015	)
Net income			16,071				6,826				164,950
Net cash provided by transactions with external parties			1,789,881				2,426,562				539,673
Net cash used in transactions with intra-Group entities			(2,809,056	)			(2,365,128	)			(497,190	)
Net cash (used in)/generated by operating activities			(1,019,175	)			61,434				42,483
Net cash provided by/(used in) transactions with external parties			440,033				(18,347	)			8,102
Net cash used in transactions with intra-Group entities			—				—				(180,000	)
Net cash generated by/(used in) investing activities			440,033				(18,347	)			(171,898	)
Net cash provided by/(used in) transactions with external parties			—				2,300				(1,198	)
Net cash provided by/(used in) transactions with intra-Group entities			—				—				—
Net cash generated by/(used in) financing activities			—				2,300				(1,198	)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			288				(1,161	)			(383	)
Net (decrease)/increase in cash, cash equivalents and restricted cash			(578,854	)			44,226				(130,996	)
Cash, cash equivalents and restricted cash at beginning of year			798,466				219,612				263,838
Cash, cash equivalents and restricted cash at end of year			219,612				263,838				132,842

X

- Definition

Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

+ Details

Name:	srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix:	srt_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

+ Details

Name:	srt_ScheduleOfCondensedFinancialStatementsTableTextBlock
Namespace Prefix:	srt_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=123419778&loc=SL6759159-111685

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5747-111685

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123419778&loc=SL6228884-111685

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5728-111685

+ Details

Name:	us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of principal subsidiaries.

+ References

No definition available.

+ Details

Name:	yj_ScheduleOfPrincipalSubsidiariesTableTextBlock
Namespace Prefix:	yj_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration