Welcome to our dedicated page for 111 news (Ticker: YI), a resource for investors and traders seeking the latest updates and insights on 111 stock.
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) recently announced the opening of two advanced fulfillment centers in Xi'an and Shenyang, China, enhancing its logistics efficiency. These centers support a network serving over 300,000 pharmacies, enabling 24-hour delivery in major cities and 72-hour nationwide delivery. This expansion increases the total fulfillment centers to eight, strategically located to strengthen the company's supply chain. Co-founder Dr. Yu Gang emphasized this move as a way to transform healthcare delivery, improving access for patients and reducing inefficiencies in the supply chain.
111, Inc. (NASDAQ: YI) will report its unaudited financial results for Q4 and fiscal year 2020 on March 18, 2021, before U.S. market opens. A conference call with management is scheduled for 7:30 AM ET the same day. Investors can access the call by registering online to receive dial-in details. The company focuses on connecting patients with healthcare services in China, providing access to pharmaceutical products and online healthcare through its platforms like 1 Drugstore and 1 Clinic.
On January 11, 2021, 111, Inc. (NASDAQ: YI) announced a strategic partnership with Jilin Baiyi Doctor Group to enhance digital healthcare services in Northeast China. This collaboration aims to leverage 111's SMART-enabled platform for efficient patient management and improved healthcare access. The partnership will allow for online consultations, diagnoses, and follow-up care, further aligning with government initiatives promoting multi-channel healthcare. Both companies are committed to improving service accessibility and healthcare outcomes for patients nationwide.
111, Inc. (NASDAQ: YI) announced a successful new capital injection of RMB515 million (approximately US$78.75 million) for its subsidiary, Yao Fang Shanghai, aimed at expanding its digital healthcare services in China. This follows a previous funding round of RMB419.82 million, totaling RMB934.82 million (approximately US$142.84 million) raised to date. The investment also supports a proposed listing on the Shanghai Stock Exchange's STAR Market by June 30, 2023. Investors include notable firms such as SAIF Partners and Huasai Fund.
111, Inc. (NASDAQ: YI) reported robust financial growth for Q3 2020, with net revenues reaching RMB2.36 billion (US$348.0 million), up 112.8% YoY. Operating expenses increased 28.2% to RMB212.1 million, representing 9.0% of revenues. The number of pharmacies served climbed to over 300,000, covering 57% of China’s pharmacies. B2B revenue soared to RMB2.2 billion, while non-GAAP net loss narrowed to 4%. The company expects Q4 revenues between RMB2.44 billion and RMB2.56 billion, indicating year-over-year growth of approximately 81% to 90%.
111, Inc. (NASDAQ: YI) will release its unaudited financial results for Q3 2020 on November 19, 2020, before U.S. market opens. An earnings conference call is scheduled for 7:30 AM ET on the same day. Participants must register in advance to receive dial-in details. The company, a major digital healthcare platform in China, connects patients with healthcare products and services through its online retail pharmacy, 1 Drugstore, and its offline virtual pharmacy network. Additionally, it provides online healthcare services via 1 Clinic and wholesale services through 1 Drug Mall.
On September 24, 111, Inc. formed a strategic partnership with Bayer Healthcare to enhance drug commercialization in China, particularly in tier 3-6 cities. This collaboration will leverage 111's omni-channel platform to improve drug accessibility and patient education for chronic disease management. The partnership aims to develop a digital content portal to facilitate online pharmacist training and patient services. Co-COO Wang Haihui expressed confidence in transforming healthcare delivery, while Bayer's Zhang Jingchuan highlighted the mutually beneficial nature of their expertise.
On September 24, 111, Inc. (NASDAQ: YI) established a strategic partnership with Hainan Huluwa Pharmaceutical Group in Shanghai. This collaboration aims to enhance the market reach of Huluwa's pediatric healthcare products using 111's integrated smart supply chains. Both companies will leverage digital technologies and AI to improve marketing and services. The partnership seeks to provide better access to safe pediatric medications in China, impacting millions of children.
On September 24, 2020, 111, Inc. (YI) signed a strategic partnership with Guangzhou Xiangxue Pharmaceutical to enhance the 'Internet + Medicine' model in China's traditional medicine sector. This collaboration will allow 111 to act as an omni-channel commercialization partner for Xiangxue Pharmaceutical, leveraging its Smart Supply Chain and digital marketing capabilities. With a vast network covering 280,000 pharmacies in China, 111 aims to increase the reach of Xiangxue's traditional medicine products, enhancing patient access and operational efficiency.
On September 24, 111, Inc. (NASDAQ: YI) signed a strategic partnership with Shanghai Uniondrug Information Technology to enhance commercial insurance and oncology drug retail services. This collaboration aims to improve healthcare access by integrating pharmaceutical companies and insurers, ultimately reducing medication costs for patients. Dr. YU Gang emphasized the market opportunities arising from government reforms in China's healthcare sector. The partnership also focuses on creating an integrated healthcare ecosystem to benefit doctors, pharmacies, and patients.
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