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. 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.
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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.