111, Inc. filings document foreign-issuer current reports furnished on Form 6-K, primarily covering unaudited quarterly and annual financial results for its China healthcare platform. The disclosures report net revenues, gross segment profit, operating expenses, operating cash flow and segment activity tied to the company’s B2B and B2C healthcare businesses.
The filing record also describes the company’s transition toward an asset-light warehouse partnership model, including subsidiary divestitures that shifted certain fulfillment facilities into partner roles. These reports provide formal disclosure of business performance, margin trends, liquidity measures, ADR reporting status and material operating updates furnished to U.S. markets.
111, Inc. (YI) said its special committee retained Houlihan Lokey China Limited as independent financial advisor and Kirkland & Ellis as U.S. legal counsel to review a preliminary, non-binding proposal dated September 16, 2026, and other potential strategic alternatives. The committee has three independent directors: chairman Jian Sun, Nee Chuan Teo and Jun Luo. The board says no decision has been made on the proposal or any alternative, and there can be no assurance that a definitive offer will be received, an agreement executed for the proposed transaction, or another comparable transaction approved or consummated. The report was signed by Chief Executive Officer Junling Liu.
111, Inc. (YI) director Yang Luke Chen reported sales totaling 180,880 securities listed as RSUs (Class A) in six transactions: 38,120 on September 28, 2026, and 44,000 on September 23, both at $0.18 per share; 44,000 on June 15 and 49,920 on June 12, both at $0.23; 3,400 on May 27 at $0.25; and 1,440 on May 26 at $0.27. Notes identify the May sales as Class A ordinary shares sold to satisfy tax withholding, in the form of 170 and 72 ADSs, respectively.
Chen also received grants of 54,759 RSUs on May 11, 2026, vesting in full that day, and 413,168 RSUs on May 12, with 25% vesting on each of the first four anniversaries. If service ends other than for Cause, the portion scheduled to vest that year vests pro rata based on completed months of service. A 126,295-RSU grant dated September 8, 2023, is listed as fully vested as of the Form 4 date.
111, Inc. (YI) announced that its board established a special committee of three independent directors to consider and evaluate a preliminary, non-binding proposal letter dated September 16, 2026, as well as other potential strategic alternatives. The committee is chaired by Mr. Jian Sun and also includes Mr. Nee Chuan Teo and Mr. Jun Luo.
The board said no decisions have been made about the proposal or any alternative. It gave no assurance that a definitive offer will be received, an agreement will be executed, or another comparable transaction will be approved or completed. The company said it will provide updates only as required by applicable law.
111, Inc. (YI) director Chen Yang Luke reported five direct sales totaling 142,760 shares. The sales were 49,920 shares at 0.23 per share on June 12, 2026; 44,000 at 0.23 on June 15; 44,000 at 0.18 on September 23; and 1,440 at 0.27 on May 26 and 3,400 at 0.25 on May 27. The May sales of 1,440 and 3,400 Class A ordinary shares were stated to satisfy tax withholding on RSU vesting. Luke also reported RSU acquisitions of 54,759 on May 11, 2026, vesting in full on the grant date, and 413,168 on May 12, 2026, vesting 25% on each of the first four anniversaries. An additional acquisition of 126,295 RSUs is dated September 8, 2023.
111, Inc. (YI) received a non-binding going-private proposal from a consortium comprising co-founders Gang Yu and Junling Liu, Sunny Bay Global Limited and Huadeng Tech BioArray Ventures Ltd to acquire all Class A ordinary shares (including ADSs) they do not beneficially own at US$0.226 per Class A share or US$4.52 per ADS.
The consortium members, who may be deemed a group, collectively beneficially own 72,000,000 Class B and 2,266,328 Class A shares, representing approximately 42.1% of total outstanding share capital and about 91.4% of aggregate voting power based on March 31, 2026 figures plus certain RSUs.
The parties entered into a Consortium Agreement on September 16, 2026 to cooperate exclusively for at least six months on this Proposed Transaction, including agreeing not to make or support competing proposals or trade the issuer’s securities. The proposal is subject to negotiation and execution of definitive agreements, and no party is currently obligated to complete the transaction. If completed, the issuer’s ADSs would be delisted from The Nasdaq Global Market and become eligible for deregistration under Section 12(g)(4) of the Exchange Act.
111, Inc. (YI) reported a sharp revenue contraction and wider losses for the second quarter of 2026 as it continues shifting to an asset-light, platform-focused model. Net revenues were RMB2.30 billion (US$338.995 million), down 28.3% from RMB3.21 billion a year earlier, mainly due to strategic business optimization. B2B net revenue fell 28.7% to RMB2.24 billion, while B2C net revenue declined 7.8% to RMB57.9 million.
Gross segment profit decreased 28.6% year over year to RMB132.3 million. Loss from operations was RMB23.2 million, versus a small profit of RMB0.1 million a year ago, and net loss expanded to RMB31.7 million (1.4% of net revenues) from RMB7.3 million. Non-GAAP net loss was RMB28.9 million, also materially worse than RMB4.4 million in the prior-year quarter. Management highlighted cost actions: fulfillment expenses dropped 29.5% year over year and improved slightly as a percentage of net revenues.
Liquidity weakened. As of June 30, 2026, cash, cash equivalents, restricted cash and short-term investments totaled RMB381.1 million (US$56.2 million), down from RMB611.3 million at December 31, 2025. The company also reported RMB956.7 million included in redeemable non-controlling interests and accrued liabilities owed to investors in 1 Pharmacy Technology; approximately RMB282.2 million has been repaid, and holders of 63.8% of the principal have agreed to restructure redemption over extended periods.
111, Inc. (YI) disclosed that its board received an unsolicited, preliminary, non-binding proposal from a buyer group led by co-founders Dr. Gang Yu and Junling Liu together with Huadeng Tech BioArray Ventures Ltd to take the company private. The proposal contemplates acquiring all outstanding Class A ordinary shares not owned by the group at US$0.226 per Class A Share, or US$4.52 per ADS, in cash in a going-private transaction.
The buyer group states that the proposed price represents a 29.5% premium to the September 15, 2026 ADS closing price and a 20% premium to the 60‑trading‑day average. The co-founders currently hold approximately 1.3% of Class A Shares and 100% of Class B shares, representing about 41.6% of total share capital and 91.3% of voting power. The group proposes to fund the deal entirely with equity (rollover equity plus cash from the sponsor) and indicates the transaction will not be subject to a financing condition. A special committee of independent and disinterested directors is expected to evaluate the proposal, and there is explicit caution that there is no assurance any definitive offer, agreement, or transaction will result.
111, Inc. director Chen Yang Luke reported a mix of RSU grants and share dispositions in Class A ordinary shares. He received awards of 54,759 RSUs on May 11, 2026 and 413,168 RSUs on May 12, 2026, each RSU representing one Class A share.
He also reported open‑market sales of 49,920 shares on June 12, 2026 and 44,000 shares on June 15, 2026 at prices of about $0.23 per share. Footnotes state that additional sales of 1,440 shares on May 26, 2026 and 3,400 shares on May 27, 2026 were made to satisfy tax withholding obligations tied to RSU vesting.
After these transactions, Chen directly holds 495,462 Class A shares. The filing notes that each RSU represents a contingent right to receive one Class A ordinary share, and that as of the Form 4 date the referenced RSUs have fully vested.
111, Inc. director Sun Jian David reported a mix of RSU grants and share sales in Class A ordinary shares. He received grants of 378,737 RSUs on May 11, 2026 and 413,168 RSUs on May 12, 2026, each RSU representing one Class A share.
Between May 26 and June 15, 2026, he sold a total of 397,060 Class A shares at prices between $0.22 and $0.27 per share. Footnotes state that 29,280 and 70,440 of these shares were sold to satisfy tax withholding obligations tied to RSU vesting. After the latest transaction, he holds 413,211 shares directly, and the filing indicates all such RSUs are fully vested as of its date.
111, Inc. director Sun Jian David reported a mix of RSU grants and sales in Class A ordinary shares. He received grants of 378,737 RSUs on May 11, 2026 and 413,168 RSUs on May 12, 2026, each RSU equal to one share. Between May 26 and June 11, 2026, he sold blocks of 29,280, 70,440, 12,000, 115,440 and 111,100 shares at prices around $0.22–$0.27 per share, with the May 26 and May 27 sales specifically used to satisfy tax withholding obligations on vesting RSUs. After these transactions, he directly holds 472,011 RSUs/Class A shares.