Yami / ecommerce diligence

Yami Store Investment Memo

8 settlement cycles (Nov 2025 to Jun 2026) with rising sales but still a heavy negative contribution trend.

Monthly metrics are built from `yamiv2/` settlement workbooks and catalog average cost. Later periods may contain partial SKU cost coverage, so losses may be understated.

Verdict: Not investable at this stage
Settled sales
$45,560
Period range: Nov 2025 → Jun 2026
Total contribution
$-10,530
Cost coverage 97.1%
Weighted contrib margin
-23.1%
Y/Y sales change (bookend): 563.9%
Positive contribution months
0/8
Positive-SKU sales share (2026H1): 22.0%
Catalog median margin
-2.0%
60 / 107 negative margin SKUs
Inventory exposure
$23,921
Top10 share: $0

Investment Committee Readout

Performance
$45,560
8 months | $5,695.0 avg / month
Total contribution
$-10,530
Nov 2025 -> Jun 2026
Positive contribution months
0/8
Positive-SKU sales share (2026H1): 22.0%
Catalog median margin
-2.0%
Latest 8-month catalog mix
Losses are material and increasing despite sales growth; fixed cost burden is high, and the catalog mix has not yet normalized.

Demand and Economics Momentum

Sales, gross profit (before platform), contribution8,6918,6916,5514,4122,273133.2-2,006Nov 2025Dec 2025Jan 2026Feb 2026Mar 2026Apr 2026May 2026Jun 2026SalesGross before feesContribution
Important: month-end figures are not a clean year-end run-rate and reflect actual shipped volume in each workbook.
SKU real margin after fulfillment35261890-53.5-27.3-1.125.051.277.4
PeriodOrdersSalesCommissionFulfillmentContributionMargin %
Nov 202569$1,111$-222$-136$-353-31.7%
Dec 2025368$4,150$-830$-741$-1,354-32.6%
Jan 2026602$6,449$-1,290$-1,269$-1,794-27.8%
Feb 2026490$5,447$-1,089$-898$-890-16.3%
Mar 2026723$7,154$-1,431$-1,420$-2,006-28.0%
Apr 2026452$5,179$-1,036$-870$-699-13.5%
May 2026771$8,691$-1,738$-1,551$-1,566-18.0%
Jun 2026604$7,378$-1,476$-1,258$-1,868-25.3%

SKU Winners vs. Loss Leaders (Jan–Jun 2026)

Largest SKU drags (recent)
SKUNameSalesUnitsContributionMargin %Periods
5149085891Sticky Thumb Sweet Glutinous Corn 500g$2,948276.0$-2,322-83.9%5
5148130781Authentic Guizhou Charred Chili Dipping $2,363301.0$-1,029-44.2%6
5148130791Authentic Guizhou Charred Chili Dipping $2,076264.0$-900-43.7%6
5149085881Bamboo Leaf Yellow Cake(350g)$3,132469.0$-872-26.8%6
5148130801Guizhou Mountain-Grown Soybean, Naturall$2,501333.0$-730-29.6%6
5148124311Dried beef mushroom sauce (92g)$66970.0$-529-61.9%6
5148130771Guizhou Red Sour Soup Base, 180-Day Natu$1,508273.0$-486-32.3%6
5148141781Yunnan Dehong Specialty Houttuynia Corda$1,218113.0$-404-33.0%6
5149090451Yunnan Pure Handmade Shiping Bean Curd $927104.0$-398-43.9%5
5148124251Plain Garlic Dip 50g$343117.0$-334-98.8%6
SKU pockets with positive contribution
SKUNameSalesUnitsContributionMargin %Periods
5148144771Authentic Xuanwei Fermented Tofu in Chil$1,269325.0$62649.1%6
5148149881Authentic Specialty from Xiazhi, Guizhou$61962.0$42168.0%5
5148161171-$52944.0$37070.0%4
5147101691Wild Mushroom Mix, Yunnan Style (Termito$44773.0$27063.1%6
5156021731-$34219.0$21763.6%2
5148161441-$30323.0$21571.2%4
5017150491Authentic Yunnan Luliang Specialty Spicy$28450.0$16758.9%6
5019348671Ready-to-Eat Chestnut Kernels, Low-Fat &$24327.0$16266.7%4
5156021761-$19111.0$13973.1%2
5148129071Hometown of a General, Land of Tofu - Fl$2,068292.0$1368.9%5
Positive-contribution SKUs exist, but volume is still too small to offset high-volume lossmaking SKUs.

Inventory at SKU Level

Inventory at SKU Level$1,456$1,165$874$582$291$05148121981 Yunnan Origin Whit$1,4565148121931 Yunnan Origin Blac$1,2805148124331 Tricholoma matsuta$1,2645148121991 Yunnan Origin Blac$1,2325148124311 Dried beef mushroo$9945148141891 Yunnan Dehong Spec$9125149085881 Bamboo Leaf Yellow$9125148129081 Hometown of a Gene$827
SKUItemStockAvg CostInventory CostReal margin
5148121981Yunnan Origin White Truffle Sauce (92g)91.016.0$1,4564.0%
5148121931Yunnan Origin Black Truffle Sauce (92g)80.016.0$1,2809.0%
5148124331Tricholoma matsutake(92g)79.016.0$1,264-1.0%
5148121991Yunnan Origin Black Truffle Sauce (92g)77.016.0$1,232-1.0%
5148124311Dried beef mushroom sauce (92g)71.014.0$9945.0%
5148141891Yunnan Dehong Specialty Shrimp Sauce 380g48.019.0$912-1.0%
5149085881Bamboo Leaf Yellow Cake(350g)152.06.00$912-11.0%
5148129081Hometown of a General, Land of Tofu - Flavor1,3790.60$827-38.0%
5148141801Yunnan Dehong Specialty Garlic Oil Seasoning66.012.0$792-2.0%
5148141811Yunnan Dehong Specialty Peanut Seasoning Sau60.012.0$720-2.0%
Inventory value remains concentrated in negative-margin SKUs; downside support is weak.