OTHER PAYABLE AND ACCRUED LIABILITIES

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

OTHER PAYABLE AND ACCRUED LIABILITIES

16. OTHER PAYABLE AND ACCRUED LIABILITIES

	As of December 31,
	2022		2023
	RMB		RMB
Merchants deposits (1)		42,452		31,369
Supplier deposits (2)		32,997		25,538
Salaries and welfare payable		28,735		18,141
Taxes payable		15,531		14,555
Accrued marketing and other operational expenses		12,682		7,336
Accrued professional fees		10,165		6,782
Others		2,965		5,479
Total other payable and accrued liabilities		145,527		109,200

(1) The deposit obtained from the merchants is to ensure implementation of Yunji App’s platform policy and good product quality to be sold by the merchants on Yunji App under the Group’s marketplace business model. The deposit can be withdrawn immediately after the merchants terminate its online shop on Yunji App.

(2) The deposit obtained from the suppliers is to ensure inventory level ready for the Group to purchase and good product quality under the Group’s sales of merchandise business model.

YUNJI INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

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