Quick Take
Yunji (YJ) went public in May 2019, selling 11 million ADSs for $11.00 each for gross proceeds of $121 million.
The firm operates a social e-commerce site for consumers purchasing products online in China.
In 2019, YJ changed its business model to focus on marketplace revenue instead of on membership revenue, creating a large reduction in revenue.
My bias on the stock is Neutral until management can demonstrate significant marketplace revenue revenue growth.
Company
Hangzhou, China-based Yunji was founded in 2015 to develop a social e-commerce platform in China with a