Yunji Clocks 49% Revenue Decline In Q1 - Yunji (NASDAQ:YJ)

Yunji Inc YJ reported a first-quarter FY22 sales decline of 49.3% year-on-year, to RMB342.6 million ($54 million), compared to RMB675.4 million last year.
The decrease was primarily due to the negative impact of the outbreaks of the highly-transmissible Delta and Omicron variants of COVID-19 in early 2022 on the company's operations.
The repeat purchase rate in the twelve months ended March 31, 2022, was 80.2%.
The operating expenses decreased by 43.2% Y/Y to RMB154.9 million ($24.4 million).
The operating margin was 0.7%, and operating income for the quarter was RMB2.4 million ($0.4 million).
The company held $117.2 million in cash and equivalents as of March 31, 2022.
Adjusted net loss was RMB(30.6) million or $(4.8) million) versus adjusted net income of RMB17.1 million a year ago. Loss per share for the quarter was RMB(0.02).
Price Action: YJ shares are trading lower by 6.03% at $1.09 on the last check Tuesday.