Yunji is a holding company. Through its subsidiaries, Co. operate a social e-commerce platform in the People's Republic of China using a membership-based model that utilizes social interaction. Co. provides products at various prices and incentivizes its members to promote its platform and share its products with their social contacts. Co. conducts its social e-commerce business through its Yunji app. Co.'s Yunji app is used by its members and non-member users to discover, explore and purchase a range of products at various prices and to access other membership features and benefits. Co. provides services to members and non-member users under the same app so as to open up its platform.