HANGZHOU, China, Sept. 6,
2023 /PRNewswire/ -- Yunji Inc. ("Yunji" or the
"Company") (NASDAQ: YJ), a leading membership-based social
e-commerce platform, today announced the appointment of Mr.
Xuefeng Chen as an independent
director of the Company, effective September
6, 2023. Mr. Suqin Xi has concurrently resigned from his
position as an independent director and no longer serves as a
member on the audit committee, compensation committee, and
nominating and corporate governance committee of the Company's
board of directors. Mr. Xuefeng Chen
will serve as a member on each of these committees.
Mr. Xuefeng Chen joined Shenzhen
Tiantu Capital Co., Ltd. ("Tiantu") in 2015 and currently serves as
its Managing Director and Head of Investment and Financing
Management Department. He is responsible for fund management and
post-investment project management. Prior to joining Tiantu, Mr.
Chen served as a vice president of Shenzhen Jinxin Industrial Group
from 2012 to 2015. He served as a partner at Guangdong Ruiting Law
Firm from 2010 to 2012, accumulating rich capital market
experience. Prior to that, he worked at Guangdong Jundao Law Firm
from 2007 to 2010. Mr. Chen is a certified public accountant and a
certified tax agent. He received his bachelor's degree in law from
Southwest University of Political Science and Law in China.
Mr. Shanglue Xiao, Chairman and Chief Executive Officer of
Yunji, commented, "We are delighted to welcome Mr. Xuefeng Chen to Yunji. We believe that Mr.
Chen's rich industry experience and professional capabilities will
contribute to Yunji's high-quality development strategy."
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/.
Safe Harbor Statement
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.
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
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SOURCE Yunji Inc.
