Q4 2024 Yunji Inc Earnings Call
Speaker Change: [music].
Operator: Good morning and good evening, ladies and gentlemen. Thank you for standing by and welcome to Eugene's fourth quarter 2024 earnings conference call.
Good morning, and good evening, ladies and gentlemen.
Thank you for standing by and welcome to Eugene Fourth quarter 2024 earnings conference call with US today are Mr. Shang Hsiao.
Operator: With us today are Mr. Shanglue Xiao Excuse me, Mr. Shanglue Xiao, Chairman and Chief Executive Officer, along with Mr. Yeqing Cui, Senior Financial Director. As a reminder, this conference call is being recorded.
Mr. Shang Hsiao, Chairman and Chief Executive Officer, along with Mr. Yates Choi Senior financial Director as a reminder, this conference call is being recorded before we start. Please note that this call will contain forward looking statements within the meaning of the private Securities Litigation Reform Act of 1995 that are based on the come.
Operator: Before we start, please note that this call will contain forelooking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on the company's current expectations and current market operating conditions, and relate to events that involve known or unknown risk and uncertainties or other factors of Eugene. and its industry. These four looking statements can be identified by the terminologies such as will, expect, anticipate, continue and other similar expressions. For a detailed discussion of these risk and uncertainties, please refer to the company's related documents filed with the US SEC. Any forward-looking statements that the company makes on this call are based on assumptions as of today and are expressly qualified in the entirety by the cautionary statement.
<unk> current expectations and current market operating conditions and relate to events that involve known or unknown risks and uncertainties or other factors of Eugene.
And its industry. These forward looking statements can be identified by the terminology such as will expect anticipate continue and other similar expressions.
For a detailed discussion of these risks and uncertainties. Please refer to the Companys related documents filed with the U S. S E C O N E.
Forward looking statements that the company makes it on this call are based on assumptions as of today and are expressly qualified in the entirety by the cautionary statements.
Operator: risk factors and details of the filings with the SEC. The company does not undertake any obligation to update these statements except as required by applicable law.
Risk factors and details of the filings with the SEC. The company does not undertake any obligation to update these statements except as required by applicable law.
Shanglue Xiao: With that, I would now like to turn the call over to Mr. Shanglue Xiao, Chairman and Chief Executive Officer of UG. Please go ahead, sir. Hello everyone, welcome to Yunji's 4th Quarter 2024 Earnings Call. Looking back at the past year's business, we will continue to be firm in organic health as an important strategic goal for the future development of Yunji. In 2024, the overall gross profit of the company increased by 49.4%, and the user recovery rate remained at 71.9%. These numbers are the health life votes cast by the trust of consumers.
Speaker Change: With that I would now like to turn the call over to Mr. Shang Lou Shao, Chairman and Chief Executive Officer of Eugene. Please go ahead Sir.
Speaker Change: So I guess I'll find that out I know you said you guys have already halfway Hello, everyone and welcome to <unk> fourth quarter and the 'twenty 'twenty four earnings call.
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Shanglue Xiao: But more importantly than numbers, we are completely innovating our new business. In the past year, we have strengthened the organization structure of the company, improved operation efficiency, and optimized industrial layout. These changes will be the starting point of Yunji's growth in 2025. Looking back at our operations over the past year, while focusing on the future, we continue to firmly position organic health as the key strategic objective for our future development. In 2024, our overall gross margin improved to 49.4%, while our user repurchase rate maintained a strong 71.9%. Behind these numbers lies the trust our consumers have placed in us through their votes for a healthy living.
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Speaker Change: Looking back to our operations over the past year was focused on a future where you continue to firmly position organic house as a key strategic objective for our future development and plenty of money for our overall gross margin improved to 49, 4%.
Speaker Change: Our use of repurchase rate maintain a strong seven tier one.
Speaker Change: One 9% behind these numbers like the trust our customers have placed in us.
Speaker Change: Their votes for a healthy living but more important than number is already complete all proration of realignment over the past, yeah, we have and enhance our organizational structure improve operational efficiency and optimize our business lay out these changes better serve as a starting point.
Shanglue Xiao: But more importantly than numbers is our complete operational reliance. Over the past year, we have enhanced our organizational structure, improved operational efficiency, and optimized our business layout. These changes will serve as the starting point for us to move forward with greater agility in 2025.
Speaker Change: What I can move forward with greater agility in 'twenty 75.
Shanglue Xiao: In March of this year, we completed the merger of Yunji's health business and Yunji's health insurance business. This major business merger allows us to better provide users with reliable health and life-saving solutions. By increasing the number of members, increasing the experience, and increasing the sharing, we can build a trust network and make organic health a part of the family. By adhering to the organic health strategy, organic health products of various brands have gradually gained users' trust. For example, in the first quarter of 2024 and the first quarter of 2025, acquired sales of nearly 5 million yuan and 6 million yuan respectively.
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Shanglue Xiao: In addition, in March this year, the new product, Qingran Coffee, was recognized by consumers as soon as it went on the market. In just half a month, it gained sales of more than 5 million yuan.
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Speaker Change: All right.
Shanglue Xiao: This March, we completed the consolidation of our health business and Yunji's lab business. These significant moves enabled us to better provide trusted, healthy living solutions for our users, strengthening our trust chain through true traceability, authentic experiences, and genuine sharing, bringing organic health to millions of households. Honoring our commitment to our organic health strategy, our private-label organic health products have gradually earned users' trust. For example, our probiotics bolus achieved sales of nearly 5 million RMB in the first quarter of 2024 and over 6 million RMB in the first quarter of 2025. Additionally, our new line, Slimming Coffee, launched at the end of March this year, immediately gained high consumer recognition, generating sales of over 5 million RMB in just half a month after its launch.
Speaker Change: In March we completed the consolidation of Oh, How's business and I mean, she is the lack of business. These are significant and will enable us to better provide the trusted of healthy living solutions for all uses strengthening all across the chain. So chew traceability authentic experiences.
Speaker Change: And in January as Shari renamed organic in house to millions of households, honor our commitments to our organic how strategy, our private label organic how spread out gradually and I use a trust for example, our probiotics bolus and shoot a sales after nearly 5 million RMB in the fourth.
Speaker Change: Or do you over 'twenty 'twenty, four and over 6 million RMB in the first quarter FY 'twenty 75. Additionally, our meal by Raymond Coffee launch Andy I don't know if the launch date, yet immediately gain a high consumer recognition generating sales after over finally RMB in just to have an accident if latch.
Shanglue Xiao: We will continue to work hard to promote the Suye brand Through the efforts of the first quarter of 2024 and this year We have completed a comprehensive strategic upgrade from the brand language system to the brand vision system To make the Qianyang Technology Skincare a brand mission that enters the public life Suye is committed to creating high-value Qianyang Technology Skincare products It is expected to become China's world-class high-end technology skincare brand in the near future In order to further drive the market share of the entire Bosein series We will continue to strengthen our private label brand, Suye Through our efforts in 2024 and the first quarter of this year We have completed a strategic upgrade from Suye's messaging to its visual identity Upholding the brand mission of bringing advanced skincare technology into your daily routine Suye is dedicated to offering premium quality products at accessible prices Aspiring to become a world-class leader in skincare And the proud representative of China's innovation in beauty At Suye, we are building complete product lines around our flagship innovations To deliver exceptional value and drive growth In 2024, we launched our Suye Pro Aspirein Firming Series A premium yet affordable line that generated over 20 million RMB in total sales A testament to the strong demand for high-value skincare solutions Due to this success, we are expanding this series in 2025 With the launch of Suye Pro Aspirein Firming Essence Lotion A highly competitive flagship product This new addition will further enhance the Bosein series Solidifying its position as a go-to choice for customers Seeking advanced skincare without premium price tags What excites us the most is the tea cultivation and health experience project in private operations, the tea cultivation project.
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Speaker Change: We will continue to strengthen our private label brands. So yeah. There are excellent and 20th Honeys launch on the first quarter of this year, we have a kind of bleed. It stretches outweighed foreign affiliates messaging here is just a visual identity I'm holding the brand and mission often rainy advises inkjet technology.
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Speaker Change: It's that simple price it aspiring to be caught what Clark leader in skin care and then the proud of representatives, often China's innovation in beauty.
Speaker Change: So here, we are building complete product lines, one of our flagship innovation to deliver exceptional value and drive those.
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Speaker Change: With the launch of Australia Pro athlete from me and Central Ocean holiday coming but it is a flagship product. This new edition will further enhance the boswell in theory solidify expectation as that go to choice for customers seeking advanced than the game care without a premium price.
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Shanglue Xiao: is Yunji's new model of tea-making in 2025 including tasting tea, national study, meditation, and the 80-minute experience of stretching the lightness The Jianxing Tea Project has performed well in the four-day operation phase. The first 150 participants, 91% of them took part in the high-quality course, and some took part in the tea cultivation course for 100 days in a row. In April this year, we plan to recruit 1,000 participants. The Tea Project will be officially launched on May 20.
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Shanglue Xiao: In June, we plan to...
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Shanglue Xiao: We are thrilled to introduce our new business initiative for 2025, the Jianxing Qi Therapy Program, a unique wellness experience designed to deliver exceptional value while promoting holistic health. This meticulously crafted 80-minute program combines tea tasting, traditional Chinese studies, meditation, and stretching lessons, offering participants a deeply enriching wellness journey. During its trial phase, the program achieved remarkable success, with 91% of its first 150 participating tea enthusiasts returning for frequent sessions. Some users even attended morning tea courses for 100 consecutive days, highlighting the program's ability to build strong user loyalty and engagement.
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Speaker Change: Neal we are thrilled to introduce our new business initiatives for 2025.
Speaker Change: The Khamsin gene therapy program, a unique wellness experience designed to deliver exceptional value well the melting holistic health. He's made a particular fleet prostate at 80 minutes per one combined T tasting traditional Chinese body meditation and as Greg Jean lessons offering parties.
Speaker Change: And a deeply engaging wellness journey during its done and tried to place. The program achieved remarkable success with 91% of its supposed to 150 participating T. He was here as well.
Speaker Change: Danny for frequent session. Some years, there's even a tiny the morning two courses for one contrary Collins aggregated day, highlighting the program's ability to build a strong user loyalty and engagement. These April wavelengths, you recruit 1000 T enthusiasm to join the program.
Shanglue Xiao: This April, we plan to recruit 1,000 tea enthusiasts to join the program. On March 20, the Jianxing Qi Therapy Program will officially launch, and by June, we aim to train and onboard 100 skilled tea therapists. By combining high-margin products with an immersive and engaging experience, this initiative strengthens the appeal of organic health offerings while fostering deep customer loyalty and satisfaction.
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Speaker Change: He didn't seem to me that would be a program. We will officially launch and by June we aim to train and onboard 100 skilled T therapies.
Speaker Change: How about any high margin purge that we then immersive and engaging experience. This initiative the strengths and the appeal, although organic in house offerings, well, fostering deep customer loyalty and satisfaction and it sounds as a pivotal step in our evolution from a traditional transaction platform.
Shanglue Xiao: It serves as a pivotal step in our evolution from a traditional transaction platform to a dynamic experience ecosystem. In the new year, Yunji will continue to focus on the positioning of global organic life leaders and focus on organic health, food, health, technology and skincare In the past year, we have significantly reduced the cost of operation and continued to optimize the product structure and create super-products We will focus on high-efficiency, high-sales products to improve profitability and balance profit and loss.
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Shanglue Xiao: In the future, we will move from a product sales platform to a service experience platform and make an impact on the big future of the silver and silver economy. We will develop tea cultivation courses into a belt for healthy communities so that product sales, cultural experience, and social value In 2025, Yunji remains committed to its vision as the global leader in organic living, focusing on delivering high-value organic health foods and grain-advanced skincare products. By leveraging significant cost reductions achieved last year, we will continue optimizing our product lineup to create a standout product that offers exceptional value for money.
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Speaker Change: A tiny tiny finding G remains committed to innovation as the global leader in organic living fantasy on delivering high value organic house foods, and a great advantage skincare products.
Speaker Change: Leveraging significant cost reductions achieved last year, we will continue optimizing our product line up to create a stand out was part outs that are over it exceptional value for money our strategy centers on shifting to what high margin high route prejudiced ready to pronounce to in House Cross.
Shanglue Xiao: Our strategy centers on shifting towards high margin, high repurchase rate products to enhance cross-sitability and achieve break-even.
Speaker Change: [noise] ability and then achieve break even beyond protests that was I think he is evolving into a bad experience platform embracing the promising opportunities off do you feel the economy, our innovative gene therapy run its course as well as the cornerstone for building household goods communities. That's part one.
Shanglue Xiao: Beyond product sales, QINGYI is evolving into a service experience platform, embracing the promising opportunities of the silver economy. Our innovative t-therapy wellness courses will serve as the cornerstone for building health-focused communities. This program unites product sales, culture experiences and social engagement into a cohesive ecosystem, a tree of life where every branch nurtures growth and connection. In the future, Yunji will continue to inspire innovation and vitality, enhance core competitiveness, and create greater social value for Chinese families. In the future, we will continue to stimulate product innovation, enhance core competence, and create greater social value for Chinese families.
Speaker Change: Pride ourselves holiday experiences and social engagement into a cohesive equalization of tree of life, where every branch neches grows and connection.
Speaker Change: Were there in June and Yoki shoes, she thought talking call. It. She said because you can generally based on whats out he turns up in Dallas Johnson.
Speaker Change: In the future, we will continue to stimulate to product innovation in house core competence and create greater social value for Chinese families. Fortune you end up behind you does any some acquainted with the telephone jet God you haven't got you don't get until you meet that definitely sounds how well we've done that I will hand, it over to you Mr. Trey always senior financial.
Shanglue Xiao: 我今天的分享就到这里,下面欢迎我们的财务总监, 财务高级总监崔也庆为大家分享财务的情况。 With that, I will hand it over to Mr. Cui, our senior financial director, to go through the financial results. Thank you, Shanglue. Hello, everyone.
Trey: I just had to go through the financial results.
Speaker Change: [laughter].
Speaker Change: Thank you, Sean and Hello, everyone before I go through our financial results. Please note that all numbers I've seen the flooring remarks are in RMB terms.
Yeqing Cui: Before I go through our financial results, please note that all numbers started in the following remarks are in RMB terms. and all comparisons and percentage change are on a year-over-year basis unless otherwise noted. During the first quarter of 2024, we maintained our focus on optimizing our cost structure while adapting to evolving market dynamics. We took deliberate steps to refine our staffing structure and implement cost reductions in areas such as fulfillment and technology. However, these long-term strategic cost-saving measures were partially offset by increasing near-term expense, including several severance costs, which affect our bottom line. Despite these changes, these actions represent a critical progress toward building a more efficient operational framework for the future.
Speaker Change: And all comparisons on a percentage change Oh, yeah, Oh, but yeah basis, unless otherwise noted.
Speaker Change: During the first quarter 'twenty to 'twenty four we maintained our focus on optimizing our cost structure, while adapting to evolving market dynamics.
Speaker Change: We took deliberate steps to refine our started being structure on the incremental cost reductions yeah Sunshine fulfillment technology. However.
Speaker Change: These long term strategic a cost saving measure this was partially offset by increased yeah, Tim expense, including several.
Speaker Change: Severance costs, which affect our bottom line.
Speaker Change: The sex do you changed these actions replenish the crude me to progress toward building a more fishing the operational framework for the future now lets take a closer look at our.
Yeqing Cui: Now, let's take a close look at our financials. Total revenue was $197.1 million compared to $149.1 million a year ago. Revenues from sales of merchandise were $75.5 million and revenues from our marketplace business were $19.4 million. These changes were primarily driven by ongoing refinements to our product range across all this coupled with the optimization of our supplier and merchant network result in a shorter impact on sales. Despite these changes, our gross margin remained relatively strong at 48.3%, meaning it's due to continue the customer's ride towards our private labels and our effective product creation strategy.
Speaker Change: Financials.
Speaker Change: Total revenue of 119, 7.1 minute compared to 100 random.
Speaker Change: 029 point of winter a year ago revenue of Splunk sales merchandise was 17 5.5 million and the revenues from our marketplace business well 19.4 million. These changes through our preliminary dry run by ongoing refinements to our product range across all catch gross this cut.
Speaker Change: Paul It was the optimization of our supply on the mantra. That's work resulted in a short term impact on yourself.
Speaker Change: Despite these changes our gross margin remained strong.
John: John I to 48.3 percentage, mainly due to continued customer loyalty towards our private labels and effective product cooler issues. That's G. Now, let's take a look at our approaching expense fulfillment expense well.
Yeqing Cui: Now let's take a look at our operating expense. Perfumers' expenses were 16.4 million compared to 20.8 million a year ago. This decrease was mainly due to reduced staff costs as a result of staffing structure requirements, reduced warehousing and logistics expense due to lower merchandise sales, and lower service fees charged by third-party payment settlement platforms. Sales and marketing expense were $38.2 million compared to $28.5 million a year ago. The increase was primarily due to an increase in business promotion expense. Technology and content expense were $8.5 million compared to $12 million a year ago. This was largely due to the reduction in personal costs as a result of starting structural refinements and reduced server costs.
Speaker Change: A $16 4 million compared to 24.
Speaker Change: More than 8 million Yeah cool did decrease was mainly due to reduced the staff costs as a result.
Speaker Change: South east gesture requirements reduced our warehousing and logistics expense due to loyal and wished ourself on the lower service fees charged by soda pop you pay them on a settlement in principle.
Speaker Change: Sales and marketing expense as well so to your point 2 million compared to 28.5 million. Yeah. So the increase was primarily due to our increase in business promotion expense.
Speaker Change: Knowledge.
Speaker Change: Content expense was 8.5 million compared to 12 million school.
This was largely due to the reduction in personal cost as a result, all stuffy structural refinements and they'll reduce the silver costs general and administrative expense or <unk>.
Yeqing Cui: General and administrative expenses were $8.5 million compared to $12.5 million a year ago.
Yeqing Cui: 71.1 million compared to 44.5 million at school. This was mainly due to severance payments from our staff, restructuring and empowerment charges on long-lived assets. Total operation expense in the first quarter increased to $170 million. 26.2 million from 109.8 million. In the same period of 2020, loss for operation was $77.7 million compared to $39.5 million a year ago. Net loss was $85 million compared with $65.9 million a year ago, while adjusted net loss was 84.5 minutes compared with 65 minutes ago. basic and diluted method. that lost per share attribute to ordinary shareholders were both 0.04 compared to 0.03 in the same period of 2023.
Speaker Change: Two 1.1 million compared to four tier four pardon pardon me to a high school diploma.
Speaker Change: Mainly due to severance payments from our stuff.
Speaker Change: Restriction on the.
Speaker Change: In Parliament to.
Speaker Change: Charges on long lived assets total operating expense in the first quarter increased to 100.
Speaker Change: 10 to $6 2 million from 109.8 million Sims per Oh trying to transfer you lost raw push your worth seven to 7.7 million compared to seven two compared to 49.5 minute yeah cool net loss was eight.
Speaker Change: Two 5 million compared with 625 points 9 million yeah, Yeah cool, while adjusted net loss was.
Speaker Change: A tip for poor and 5 million compared with two.
If by immediate yes cool.
Speaker Change: Basic and diluted.
Speaker Change: That's a loss per share of a tribute to all the Russia hold us well both of them.
Speaker Change: Zero point, the old pool, compared to zero point, Oh Street, and Dustin parent or trying to time the street turning to liquidity.
Yeqing Cui: Turning to liquidity, as of December 31, 2024, we had a total of 242.8 million in cash and cash occurrence, restricted cash and short-term investments. On our balance sheet, we are dedicated to making the most of our working capital and smartly managing our assets to better support our operations.
Speaker Change: Oh December so tier one 'twenty 'twenty four we had a total of 200 and voted to coordinate familiar in cash and cash equivalents restricted cash and short term investments.
Speaker Change: Our balance sheet, we are dedicated to making the most of our working capital and managing our assets to better support our appreciation.
Yeqing Cui: In summary, as we enter 2025, we will maintain financial disincline while investing strategically to drive sustainable growth and improve profitability. The restrictions undertaken in 2024 have provoked us with a more Streamline Operation Foundation. We will continue to be prudent with our capital allocation, focusing investment on categorized sector. demonstrate potential for sustainable growth and improve the profitability. We believe this discipline approach to cost management coupled with our effective product creation strategy will enable us to navigate the current market conditions and position us for improved performance in the This concludes our prepared remarks for today.
Speaker Change: In summary, as we enter trying to do 25.
Speaker Change: Maintaining financial distinct client, while investing strategically to drive sustainable growth and improve profit ability the.
Speaker Change: The restructuring undertaken in country twenty-four provoke us who's a more.
Speaker Change: Streamline approaching foundation, we will continue to be prudent with our capital allocation focusing investment I'll catch girls that.
Speaker Change: Demonstrate to potential cost attainable growth and improve the profitability. We believe D. SNP line approach to cost management, coupled with our effective.
Speaker Change: Production cooler issues texture.
Speaker Change: Enable us to navigate the current market conditions and positioning us for improved.
Speaker Change: Performance in the future.
Speaker Change: This concludes our prepared remarks for today operator, we are now ready to take questions.
Operator: Operator, we are now ready to take questions. Thank you. We will now begin the question and answer session. To ask a question, you may press star then 1 on your touchtone phone. If you're using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed, and you would like to withdraw your question, please press star, then 2.
Speaker Change: Thank you we will now begin the question and answer session.
Speaker Change: To ask a question you May Press Star then one on your Touchtone phone.
Speaker Change: If you're using a speaker phone.
Speaker Change: Please pickup your handset before pressing the keys.
Speaker Change: If at any time. Your question has been addressed and you would like to withdraw your question. Please press Star then two.
Operator: When asking a question, please state your question in Chinese first, then repeat your question in English for the convenience of everyone on the call.
Speaker Change: When asking a question. Please state your question in Chinese first then repeat your question in English for the convenience of everyone on the call.
Operator: And at this time, we'll pause momentarily to assemble our roster.
Speaker Change: And at this time, we'll pause momentarily to assemble our roster.
Megan Wang: And the first question will come from Megan Wang. Investor, please go ahead ma'am Hello, thank you for accepting my question. Could you please introduce the upcoming Jianxin tea treatment project? Can you provide more color about the upcoming Jianxin tea therapy project? Thank you for your question.
Megan Huang: And the first question will come from Megan Huang.
Speaker Change: Investor. Please go ahead ma'am.
Speaker Change: Okay.
Speaker Change: Yeah. Okay. Yeah. Please do so and that he loves Chipotle will catch all you can eat Dallas Charlotte caught out with Delta can provide more color about the upcoming Jackie therapy project.
Speaker Change: Yeah.
Speaker Change: Just hitting the Tibet collagen then just tell them you know James God I wish them well.
Shanglue Xiao: Let me briefly introduce our health care project. We are about to launch our health care project in May. The starting point is to provide our users with products and ritualized rituals, to build a new healthy lifestyle for modern people Thank you for your question. Let me share more about our Jianxing Qi Therapy product. And this project is going to be launched in May. And it aims to It allows our users to enjoy a space where people can calm their minds, calm down their body and soul, and embrace a healthier lifestyle. And what makes this unique is our product plus the ritualized service model, which creates a complete experience, not just a tea, but a journey towards wellness.
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Speaker Change: Thank you for your question, let me share more about our ginseng with gene therapy product I'm done this pretty jacked him in Ghana to be launched in May and then it aims and yeah.
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Speaker Change: We enjoy a space where people can come there in mind.
Speaker Change: Out of their body and soul and embrace a healthier lifestyle and are we making these unique is our production glossy original license that is model, which creates a complete experience not just a team but at journey towards wellness.
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Shanglue Xiao: Tea itself holds a deep cultural significance for us as the Chinese people. For Jingxin tea, we carefully selected a world-winning organic black tea from Wuyi Mountain. It is certified organic by multiple countries and comes from the traditional production area of Wuyi Mountain. The tea has a beautiful glossy black appearance and brews into a smooth, sweet infusion that embodies quality. But the real magic lies in the tea therapy ritual, which is an 80-minute experience divided into three parts, 20 minutes of traditional stretching, 40 minutes of tea tasting and meditation with Jingxin tea, and 20 minutes of sharing infractions with fellow participants.
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Speaker Change: But the real Magic lies in the gene therapy, Rachel we'd change that 80 minute experience divided into three parts 10 minutes of a traditional stretching 40 minutes off the tee tasty and a mediation meditation wisdom dancing tea and unfunded minutes.
Speaker Change: Shari infarction sleeves than fellow participants this isn't just about drinking tea is about self healing through classical culture, and I'm finding joy in dairy moments the program, even integrate a professionally designed curriculum based on.
Shanglue Xiao: This isn't just about drinking tea, it is about self-healing through classical culture and finding joy in daily moments. The program even integrates a professionally designed curriculum based on Chinese classic studies to help participants achieve self-awareness and inner harmony. Through the entire tea ceremony, we can make our tea friends have blood circulation, five-shape exfoliation, self-cultivation, strengthen their physical strength, refresh their brain power, and nourish their mental power. Through this ritual, participants can improve blood circulation and gain insights into themselves, all while boosting physical strength, refreshing their minds, and nourishing their hearts. The name Jianxing itself reflects this philosophy.
Speaker Change: Chinese classic studies to help participants achieve itself awareness and you know how many.
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Shanglue Xiao: It means achieving innate knowledge of the good. In essence, it is about removing negativity and embracing positivity to live a more fulfilling life. Finally, this project isn't just about personal wellness, it also strengthens our community and drives sales of our organic health products. It is a holistic approach that connects people to health, culture, and happiness.
Speaker Change: Achieving inmates knowledge of the good and since it is about removing now go to Timothy embracing positivity to leave a more fulfilling life.
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Speaker Change: Finally, this project it isn't just about personal wellness is because those trends in our community and drive sales and over again. He has put it out it is a holistic approach that's one out of the people at their house culture and our happiness.
Susan: Susan Thank you for your question.
Shanglue Xiao: Thank you for your question.
Speaker Change: Okay.
Operator: As there are no further questions, this will conclude our question and answer session as well as our conference call for today. Thank you for attending today's presentation. You may now disconnect.
Speaker Change: As there are no further questions. This will conclude our question and answer session as well as our conference call for today.
Speaker Change: You for attending today's presentation you may now disconnect.
Speaker Change: Okay.
Speaker Change: [music].
Operator: and Quentin. To be continued socio-economic coverage in the United States.
Operator: Thank you for watching! The End Thank you for watching! Thank you for watching!
Speaker Change: Yeah.
Speaker Change: [music].