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111, Inc. (NASDAQ: YI) operates an integrated online and offline platform in the healthcare market in China. The company operates through two segments: B2B and B2C. 111, Inc. sells medical and wellness products through online retail, wholesale and retail pharmacies, and offline retail pharmacies. The company also provides value-added services like online consultation and e-prescription services.
The company's product portfolio includes:
- Prescription and OTC Drugs: Western and traditional Chinese medicinal drugs.
- Nutritional Supplements: Vitamins and dietary products.
- Contact Lenses: A variety of contact lenses.
- Medical Supplies and Devices: Bandages, thermometers, and more.
- Personal Care Products: Skin care, birth control, and sexual wellness products.
- Baby Products: A range of baby care products.
111, Inc. also manages an online marketplace enabling third-party sellers to reach pharmacies. The company’s online loan application services support clients of 1 Drug Mall. 111, Inc. derives a majority of its revenue from the B2B segment.
Recent achievements include:
- Earnings Call Announcements: The company recently announced its Q3 2023 financial results showing net revenue growth of 9.5% year-over-year despite challenges in the macro-economy and retail pharmacy business.
- Digital Innovations: The 111 technology team secured three patents and won several prestigious awards in 2023 for their contributions to digital healthcare.
- Strategic Partnerships: 111, Inc. entered into a strategic direct supply partnership with Beijing Scrianen Pharmaceutical Co., Ltd., enhancing their collaboration to increase drug accessibility.
The company’s financial condition shows a strong trajectory with significant investments in digitalization and operational efficiency, ensuring sustainability and growth. The robust relationships with over 500 pharmaceutical partners and operational optimization for 450,000 retail pharmacies demonstrate their market leadership.
For more information on 111, please visit: http://ir.111.com.cn/.
111, Inc. (NASDAQ: YI), a tech-enabled healthcare platform company in China, has received a notification from Nasdaq on September 26, 2024. The notice states that for the last 30 consecutive business days, the closing bid price of the company's American depositary shares (ADSs) was below the minimum requirement of $1.00 per share, as per Nasdaq Listing Rule 5450(a)(1).
The company has been granted a 180-day compliance period, until March 24, 2025, to regain compliance. If the closing bid price of YI's ADSs reaches $1.00 or higher for at least ten consecutive business days during this period, Nasdaq will confirm compliance in writing. If YI fails to regain compliance by March 24, 2025, it may be eligible for an additional 180-day compliance period, subject to Nasdaq staff determination.
111, Inc. assures that its business operations are not affected by this notification and intends to monitor the closing bid price of its ADSs, taking reasonable measures to regain compliance with Nasdaq's minimum bid price requirement.
111, Inc. (NASDAQ: YI), a leading tech-enabled healthcare platform in China, announced that its co-founders, Dr. Gang Yu and Mr. Junling Liu, have begun purchasing company shares from their personal funds. The purchases will be made on the open market at prevailing prices. The co-founders currently own 42.7% of the company's total issued share capital.
111 reported strong financial performance in Q2 2024, achieving operational profitability for the second consecutive quarter. Income from operations reached RMB3.3 million (US$0.5 million), compared to a loss of RMB41.4 million in Q2 2023. Non-GAAP income from operations was RMB8.5 million (US$1.2 million). The company also reported positive operating cash flow.
Additionally, 111 acquired four new patents, bringing its total to 28, enhancing its competitive advantages in operational efficiency and supporting long-term growth prospects.
111, Inc. (NASDAQ: YI) announced its Q2 2024 financial results, highlighting maintained operational profitability for the second consecutive quarter. Key points include:
- Net revenues were RMB3.4 billion (US$471.2 million), down 1.5% YoY
- Income from operations was RMB3.3 million, compared to a loss of RMB41.4 million in Q2 2023
- Operating expenses decreased 18.1% YoY to RMB204.3 million
- Operating expenses as a percentage of net revenues decreased by 120 basis points to 6.0%
- Positive operating cash flow for two consecutive quarters
- Non-GAAP income from operations was RMB8.5 million
The company emphasized improved operational efficiency, strategic initiatives, and focus on digital capabilities to drive growth in the healthcare e-commerce sector.
111, Inc. (NASDAQ: YI), a leading tech-enabled healthcare platform company in China, has announced its participation in a fireside chat with Water Tower Research on September 5, 2024, at 11:00 a.m. ET. The event will feature Junling Liu, Co-Founder, Chairman, and CEO of 111, discussing the company's Q2 2024 earnings, strategic plans for the second half of 2024, and recent technological innovations, including AI applications in its supply chain platform.
The fireside chat will be conducted by Robert Sassoon, senior research analyst at Water Tower Research. Interested parties can register for this listen-only event through the provided registration link. A replay of the discussion will be available on 111's investor relations website under the 'Events' section.
111, Inc. (NASDAQ: YI), a leading tech-enabled healthcare platform company in China, has announced it will report its unaudited financial results for the second quarter ended June 30, 2024, before the U.S. market opens on Thursday, August 29, 2024. The company will host an earnings conference call at 7:30 AM U.S. Eastern Time on the same day.
Participants are required to register in advance using the provided link. Upon registration, they will receive dial-in details, passcode, and a unique access PIN. A live and archived webcast of the conference call will be available on the company's website. Additionally, a telephone replay of the call will be accessible until September 5, 2024.
111, Inc. (NASDAQ: YI), a tech-enabled healthcare platform company in China, has appointed Grant Thornton Zhitong Certified Public Accountants LLP as its new independent registered public accounting firm. This change, effective July 19, 2024, replaces Deloitte Touche Tohmatsu Certified Public Accountants LLP. The decision was made after careful evaluation and approved by 111's board of directors and audit committee.
Grant Thornton will audit and report on 111's consolidated financial statements for the year ending December 31, 2024, as well as assess the effectiveness of the company's internal control over financial reporting. This change in auditors represents a significant shift in 111's financial oversight and reporting processes.
111, Inc. (NASDAQ: YI), a leading tech-enabled healthcare platform company in China, has announced its participation in a fireside chat with Water Tower Research on July 18, 2024, at 2:00 p.m. ET. The event will feature Junling Liu, Co-Founder, Chairman, and CEO of 111, who will discuss the company's:
- Business model
- Strategic goals
- Competitive landscape and advantages
- Growth drivers
- Market opportunities
The fireside chat is a listen-only event, and interested parties can register using the provided link. A replay will be available on 111's investor relations website under the 'Events' section.
111, a leading tech-enabled healthcare platform, has entered into a strategic partnership with Beijing Scrianen Pharmaceutical to expand nationwide reach and improve drug accessibility. This collaboration will enhance their existing relationship, leveraging big data, digital marketing, and cloud services to make Scrianen's products, including Scrianen Folic Acid Tablets, more accessible both online and offline.
Since 2017, 111 has been a partner in Scrianen's Authentic Alliance. 111 operates an integrated healthcare ecosystem comprising online and offline pharmacies, digital distribution, and SaaS-based services. The partnership aims to utilize both companies' resources to deliver higher-quality healthcare products to a broader audience in China.
111 announced its unaudited financial results for Q1 2024, achieving operational profitability for the first time with an operating income of RMB3.7 million. Net revenues were RMB3.5 billion, down 4.6% YoY due to high demand in Q1 2023. Operating expenses decreased 20.6% to RMB204.8 million, improving operational efficiency. Non-GAAP income rose to RMB8.9 million, a 259.2% increase. However, net loss was RMB2.7 million, down from RMB19.4 million YoY. Cash and equivalents stood at RMB627.3 million. The company plans to increase operational efficiency and market share through technology and cost-saving logistics innovations.
111, Inc. (NASDAQ: YI) will release its unaudited financial results for Q1 2024 on May 23, 2024. The company aims to digitally connect patients with medicine and healthcare services in China. The earnings conference call will take place at 7:30 AM U.S. Eastern Time on the same day.
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