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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) reported its unaudited financial results for Q4 and FY 2022, showcasing a strong growth trajectory. In Q4, net revenues reached RMB4.1 billion (US$601.4 million), up 19.9% YoY, while gross segment profit increased by 23.8%. The company's operational loss narrowed to RMB108.4 million (US$15.7 million), a slight increase from last year, but as a percentage of revenues, it improved to 2.61%. For FY 2022, revenues totaled RMB13.5 billion (US$2.0 billion), an 8.8% increase, with gross margin improving from 5.0% to 6.2%. The company achieved positive operating cash flow for the second consecutive quarter, indicating stronger operational efficiency.
111, Inc. (NASDAQ: YI) will report its unaudited financial results for Q4 and fiscal year 2022 on March 23, 2023, before U.S. market opens. The earnings conference call is scheduled for 7:30 AM ET the same day. 111, Inc. is a tech-enabled healthcare platform in China, connecting patients with healthcare services through its online pharmacy and virtual pharmacy network. The company also offers online healthcare services via its internet hospital, 1 Clinic, and provides a one-stop platform for pharmacies through 1 Medicine Marketplace.
On February 15, 2023, 111, Inc. (NASDAQ: YI) announced the launch of Hua Medicine's first official online flagship store during the HuaTangNing® Market Launch event. This collaboration aims to connect patients with healthcare services and enhance drug accessibility. The store will facilitate patient education on drug safety and provide innovative treatment information for diabetes. 111, Inc. plans to expand Hua Medicine's commercial presence while leveraging its digital tools for healthcare delivery. This milestone reinforces 111's position in China's tech-enabled healthcare sector, marking a crucial step toward innovative drug commercialization and patient management.
111, Inc. (NASDAQ: YI) reported its third-quarter financial results for 2022, achieving net revenues of RMB3.35 billion (US$470.8 million), a slight 0.1% increase year-over-year. Gross segment profit surged by 21.6%, while total operating expenses fell to RMB282.7 million (US$39.7 million), down from RMB341.4 million a year earlier. Non-GAAP loss from operations improved to RMB48.7 million (1.5% of net revenues), significantly better than the previous year's loss of RMB135.9 million. The company attributed its performance to enhanced operational efficiency amidst challenges from city lockdowns.
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