111 (YI) Stock News

111, Inc. (NASDAQ: YI) has entered into a strategic cooperation agreement with Suzhou Zelgen Biopharmaceuticals to develop a virtual management platform for liver cancer patients in China. This initiative aims to integrate medical resources and provide online consultations, treatment options, and educational resources. Liver cancer is a major health concern, with around 410,000 new cases reported in 2020. Zelgen's drug, Zeprosyn®, recently received approval for treating unresectable hepatocellular carcinoma and will be available through this platform, enhancing patient access to innovative treatments.

111, Inc. (YI) reported Q1 2021 net revenues of RMB2.6 billion (US$396.0 million), up 64.7% year-over-year, with 89.0% growth after excluding pandemic-related items. Operating expenses increased 43.6% to RMB289.0 million (US$44.1 million), comprising 11.1% of revenues. Non-GAAP net loss decreased slightly to RMB109.3 million (US$16.7 million), or 4.2% of revenue, compared to 6.9% a year earlier. The company holds cash and equivalents of RMB1.2 billion (US$177.5 million). Looking ahead, YI forecasts Q2 2021 revenues between RMB2.92 billion and RMB3.08 billion, indicating an 80% to 90% annual growth.

111, Inc. (NASDAQ: YI), a leading tech-enabled healthcare platform in China, is set to announce its unaudited financial results for Q1 2021 on May 19, 2021. The report will be released before U.S. market opens, followed by an earnings conference call at 7:30 AM ET, allowing investors to engage directly with management. 111 provides consumers access to pharmaceuticals and healthcare services through its online platform and extensive offline pharmacy network.

111, Inc. (Nasdaq: YI) has partnered with Jianming Pharmaceutical Group to develop an online chronic disease management platform for hepatobiliary diseases in China. The initiative aims to enhance access to liver and gallbladder medications, starting in Fujian province and expanding nationally. With over 90 million hepatitis B cases and 13 million chronic hepatitis C cases in China, the platform seeks to address the lack of knowledge and resources available for these diseases. The collaboration leverages 111's tech capabilities and extensive pharmacy network, promoting efficient distribution and education on treatment options.

111, Inc. (NASDAQ: YI) reported robust financial results for Q4 and FY 2020, with net revenues reaching RMB2.64 billion (US$405.1 million), up 96.1% YoY, and a total FY revenue of RMB8.20 billion (US$1.26 billion), a 107.6% increase. The gross profit surged 143.7% YoY to RMB103.6 million (US$15.9 million). Despite an operating expense rise of 17.9%, the non-GAAP net loss narrowed to RMB98.2 million (US$15.1 million), decreasing to 3.7% of net revenues. The company anticipates Q1 2021 revenues between RMB2.53 billion and RMB2.6 billion, reflecting a 61% to 65% growth YoY.

111, Inc. (NASDAQ: YI) announced a strategic cooperation with BeiGene to enhance cancer care in China. The partnership will utilize 111's tech-enabled healthcare platform and BeiGene's innovative oncology drugs to create a unique oncology management system. This system aims to improve patient access to treatments, expand service delivery, and enable efficient doctor-patient communication. Given the high cancer incidence in China, this collaboration seeks to address the urgent need for effective cancer care beyond major cities.

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.