111, Inc. reports on a China-based, tech-enabled healthcare platform that connects consumers, pharmacies and healthcare partners through online and offline channels. The company’s recurring updates cover its B2B pharmaceutical sourcing platform, B2C online retail pharmacy activity, internet hospital services through 1 Clinic, and cloud-based services for offline pharmacies.
Company news also focuses on unaudited financial results, gross segment profit, operating expenses, cash flow, B2B gross margin trends and the transition toward an asset-light fulfillment partnership model. Other recurring topics include digital tools, supply-chain efficiency, drug commercialization services and Nasdaq ADR listing compliance matters.
111, Inc. (NASDAQ: YI), a tech-enabled healthcare platform company in China, has scheduled the release of its unaudited financial results for Q4 and fiscal year 2024 (ended December 31, 2024) before U.S. market opens on March 20, 2025.
The company will host an earnings conference call at 7:30 AM U.S. Eastern Time (7:30 PM Beijing Time) on the same day. Participants must register in advance through the provided link to receive dial-in details. A live and archived webcast will be available, and a telephone replay will be accessible until March 27, 2025.
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.
111, Inc. (NASDAQ: YI) has announced plans to modify its American Depositary Shares (ADSs) ratio. The company will change the ratio from 1 ADS representing 2 Class A ordinary shares to 1 ADS representing 20 Class A ordinary shares. This change will effectively function as a one-for-ten reverse ADS split.
The underlying Class A ordinary shares will remain unchanged, with no new shares being issued or cancelled. ADS holders are not required to take any action as the change will be implemented through the ADS depositary. Trading will continue under the ticker symbol 'YI' on Nasdaq, with the ratio change expected to take effect on January 24, 2025. While the ADS price is anticipated to increase proportionally, the company cannot guarantee the post-change price will be equal to or exceed ten times the pre-change price.
111, Inc. (NASDAQ: YI) reported Q3 2024 financial results showing maintained operational profitability for the third consecutive quarter. Net revenues were RMB3.6 billion (US$513.1 million), relatively flat year-over-year. The company achieved income from operations of RMB2.4 million, compared to a loss of RMB80.4 million in the same quarter last year. Operating expenses decreased by 23.2% to RMB208.2 million, representing 5.8% of net revenues, an improvement of 160 basis points. The company maintained positive operating cash flow for three consecutive quarters, with Q3 generating RMB109.9 million.
111, Inc. (NASDAQ: YI) has announced its participation in a fireside chat with Water Tower Research on December 6, 2024 at 11:00 a.m. ET. The company's Co-Founder, Chairman, and CEO, Junling Liu, will discuss Q3 2024 earnings (to be reported on November 27, 2024), along with challenges, opportunities, and NASDAQ share price compliance issues. The tech-enabled healthcare platform company, focused on digitally transforming China's healthcare value chain, will host this listen-only event with WTR's senior research analyst Robert Sassoon. A replay will be available on 111's investor relations website.
111, Inc. (NASDAQ: YI) has rescheduled its Q3 2024 unaudited financial results announcement from November 28 to November 27, 2024, before U.S. market opens. The management team will host an earnings conference call at 7:30 AM U.S. Eastern Time (8:30 PM Beijing Time) on the same day. The company has provided registration details for the conference call and webcast, with replay access available until December 4, 2024.
111, Inc. (NASDAQ: YI) announced changes to its Board of Directors on November 4, 2024. Dr. Leon Lian Yong Chen has resigned from his director position for personal reasons, effective immediately. The company has appointed Mr. Yang "Luke" Chen, currently serving as Senior Finance Executive, as the new director. Dr. Chen had served on the board since May 2019. The company's Executive Chairman, Mr. Gang Yu, expressed gratitude for Dr. Chen's contributions and welcomed Luke Chen, highlighting his financial expertise and understanding of the business as valuable assets for the company's strategic initiatives.
111, Inc. (NASDAQ: YI), a leading tech-enabled healthcare platform in China, will join a fireside chat with Robert Sassoon from Water Tower Research on October 30, 2024 at 12:00 p.m. ET. Dr. Gang Yu, Co-Founder and Executive Chairman, will discuss the company's logistics network, including its fulfillment centers, operating models, and technological innovations. He will also cover the expansion plans. To register for this listen-only event, visit the provided link. A replay will be available under 'Events' on the company's investor relations website.
111, Inc. (NASDAQ: YI), a leading tech-enabled healthcare platform company in China, has announced it will report its unaudited financial results for the third quarter ended September 30, 2024, before the U.S. market opens on Thursday, November 28, 2024. The company's management team 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 information, including a passcode and 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 December 5, 2024, with dial-in numbers provided for China, United States, and international callers.
111, Inc. (NASDAQ: YI) has expanded its national supply chain network with new fulfillment centers in Guangzhou and Wuhan. These additions bring the total number of centers to 13 across China, enhancing the company's warehousing and distribution capabilities. The new centers utilize an innovative operational model that reduces costs and improves efficiency, enabling 24-hour deliveries in most South and Central China markets.
The expansion strengthens 111's nationwide logistics network, 'Kunpeng,' which has reduced delivery costs by 15% and damage rates by 55%. The company's smart supply chain management systems, powered by over 30 self-developed technologies, support these operations. 111's virtual pharmacy network now serves approximately 470,000 pharmacies and partners with over 500 global pharmaceutical companies and 4,500 distributors.