v3.26.1
FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS

26. FAIR VALUE MEASUREMENTS

 

As of December 31, 2024 and 2025, information about inputs into the fair value measurement of the Group’s assets and liabilities that are measured or disclosed at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:

 

       Fair value measurement at reporting date using 
Description  Fair value
as of
 December 31,
2024		   Quoted Prices in Active
Markets for Identical
Assets
(Level 1)		   Significant Other
Observable Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
   RMB   RMB   RMB   RMB 
Assets:                    
Long-term investments                    
Equity securities with readily determinable fair value   46,576    46,576    -    - 
Equity securities accounted for under measurement alternative   218,407    -    218,407    - 
Total assets   264,983    46,576    218,407    - 

 

       Fair value measurement at reporting date using 
Description  Fair value
as of
December 31,
2025		   Quoted Prices in Active
Markets for Identical
Assets
(Level 1)		   Significant Other
Observable Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		 
   RMB   RMB   RMB   RMB 
Assets:                    
Short-term investments                    
Time deposits   43,294    -    43,294    - 
Equity securities with readily determinable fair value   40,480    40,480    -    - 
Long-term investments                    
Equity securities with readily determinable fair value   6,263    6,263    -    - 
Equity securities accounted for under measurement alternative   209,114    -    209,114    - 
Total assets   299,151    46,743    252,408    - 

 

When available, the Group uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates. Following is a description of the valuation techniques that the Group uses to measure the fair value of assets that the Group reports in its Consolidated Balance Sheets at fair value on a recurring basis.

 

 

YUNJI INC.

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(All amounts in thousands, except for share and per share data, unless otherwise noted)

 

26. FAIR VALUE MEASUREMENTS (CONTINUED)

 

Short-term investments

 

Short-term investment consists of time deposits and equity securities with readily determinable fair value, which are valued by the Group on a recurring basis.

 

The Group values its equity securities with readily determinable fair value at its quoted prices in stock market, and accordingly the Group classifies the valuation techniques that use these inputs as Level 1.

 

The Group values its short-term time deposits held in certain banks using model-derived valuations based upon discounted cash flow, in which significant inputs, mainly including expected return, are observable or can be derived principally from, or corroborated by, observable market data, and accordingly, the Group classifies the valuation techniques that use these inputs as Level 2. The expected return of the financial products were determined based on the prevailing interest rates in the market.

 

Long-term investments

 

Equity securities with readily determinable fair values are measured and recorded at fair value on a recurring basis with changes in fair value. The Group values these equity securities at its quoted prices in stock market, and accordingly the Group classifies the valuation techniques that use these inputs as Level 1.

 

The Group used measurement alternative for recording equity investments without readily determinable fair values at cost, less impairment, adjusted for subsequent observable price changes. Based on ASU 2016-01, entities that elect the measurement alternative will report changes in the carrying value of the equity investments in current earnings. If measurement alternative is used, changes in the carrying value of the equity investment will be recognized whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer, and impairment charges will be recorded when any impairment indicators are noted and the fair value is lower than the carrying value. The Group classifies the valuation techniques on investments that use similar identifiable transaction prices as Level 2 of fair value measurements.

 

 

YUNJI INC.

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(All amounts in thousands, except for share and per share data, unless otherwise noted)