111, Inc. Regains Compliance with NASDAQ Requirement

Rhea-AI Summary

111, Inc. (NASDAQ: YI) has successfully regained compliance with Nasdaq's listing requirements. The company received confirmation from Nasdaq on February 10, 2025, that its American Depositary Shares maintained a closing bid price of $1.00 or higher for ten consecutive business days from January 24 to February 7, 2025, meeting Listing Rule 5450(a)(1) requirements. Nasdaq has officially closed this matter.

The company, which operates as a tech-enabled healthcare platform in China focusing on digitally empowering the healthcare industry's value chain, had previously faced listing compliance issues. This announcement confirms their successful resolution of the minimum bid price requirement.

Positive

• Regained Nasdaq listing compliance, eliminating immediate delisting risk
• Maintained share price above $1.00 for required period, showing market stability

Negative

• Previous trading below $1.00 indicates recent financial/market challenges
• Risk of future non-compliance remains as stated in forward-looking statements

SHANGHAI, Feb. 11, 2025 /PRNewswire/ -- 111, Inc. (NASDAQ: YI) ("111" or the "Company"), a  leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China, announced today that it has received notification from The Nasdaq Stock Market LLC ("Nasdaq") on February 10, 2025, confirming that Nasdaq has determined that for the last ten consecutive business days, from January 24, 2025 to February 7, 2025, the closing bid price of the Company's American Depositary Shares has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5450(a)(1). Nasdaq noted this matter is now closed.

Forward-Looking Statements

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111's strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About 111, Inc.

111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company's online platform, 1 Medicine, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.

For more information on 111, please visit: http://ir.111.com.cn/.

View original content:https://www.prnewswire.com/news-releases/111-inc-regains-compliance-with-nasdaq-requirement-302373468.html

SOURCE 111, Inc.

FAQ

What did 111, Inc. (YI) announce regarding Nasdaq compliance on February 10, 2025?

111, Inc. announced it regained compliance with Nasdaq's Listing Rule 5450(a)(1) after maintaining a closing bid price of $1.00 or higher for ten consecutive business days from January 24 to February 7, 2025.

How long did YI stock need to trade above $1.00 to regain Nasdaq compliance?

YI stock needed to trade at or above $1.00 for ten consecutive business days, which it achieved from January 24 to February 7, 2025.

What was the minimum share price requirement for YI to maintain Nasdaq listing?

The minimum share price requirement was $1.00 per American Depositary Share to comply with Nasdaq's Listing Rule 5450(a)(1).

What are the implications of YI regaining Nasdaq compliance for investors?

Regaining compliance means YI will continue to trade on Nasdaq, eliminating immediate delisting risk and providing continued market access for investors.