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., a Cayman Islands holding company for PRC healthcare and pharmacy operations, files its annual report describing a complex China-focused structure and risk profile. Investors in its ADSs hold equity in the offshore parent, not directly in Chinese operating subsidiaries.
The report highlights extensive PRC regulatory, data security and foreign exchange constraints that could limit moving cash out of China and Hong Kong, and notes that no dividends were received from PRC subsidiaries or paid to shareholders for 2023–2025. The company remains loss-making, with net losses in each of those three years, and warns that changing Chinese oversight of offshore listings, cybersecurity and HFCAA-related audit access could jeopardize its U.S. trading status.
111, Inc. also discloses a sizable redemption obligation tied to a planned but uncompleted STAR Market listing of a major PRC subsidiary, with about RMB1.1 billion recorded as redeemable interests and related liabilities and several hundred million RMB already repaid or scheduled under restructuring agreements, which could pressure liquidity if further redemptions occur.
111, Inc. reported fourth quarter and full-year 2025 results showing lower revenue but improved profitability metrics as it shifts to an asset-light warehouse partnership model.
Net revenues were RMB12.6 billion for 2025, down 12.8% from 2024, while operating costs fell by the same percentage. GAAP loss from operations was RMB2.4 million, compared with RMB2.1 million of operating income in 2024, but non-GAAP income from operations remained positive at RMB7.7 million.
For Q4 2025, net revenues declined 26.7% year over year to RMB2.8 billion, yet loss from operations narrowed sharply to RMB0.3 million and non-GAAP income from operations reached RMB0.2 million. The company generated positive operating cash flow of RMB119.1 million for 2025 and ended the year with RMB611.3 million in cash, restricted cash and short-term investments.
111, Inc. director Teo Nee Chuan filed an initial ownership report showing holdings of 19,984 RSUs tied to Class A ordinary shares. Each RSU represents a contingent right to receive one Class A share, and all of these RSUs were fully vested as of the Form 3 date.
111, Inc. director Luo Jun Justin filed an initial ownership report showing holdings of 18,366 RSUs tied to Class A ordinary shares. Each RSU represents a contingent right to receive one Class A ordinary share, and the filing notes that all such RSUs have fully vested as of the date of the Form 3. This filing records existing ownership and does not reflect any new buy or sell transaction.
111, Inc. director Sun Jian David filed an initial statement of beneficial ownership showing fully vested restricted stock units (RSUs) in the company. The filing reports direct ownership of 18,366 RSUs tied to Class A ordinary shares. Each RSU represents a contingent right to receive one Class A ordinary share, and all of these RSUs are stated to be fully vested as of the Form 3 date.
111, Inc. director Chen Yang Luke filed an initial ownership report showing his equity position in the company. The filing lists 126,295 RSUs (Class A) held directly. Each RSU represents a contingent right to receive one Class A ordinary share, and all of these RSUs are fully vested as of the filing date.
This Form 3 does not report any new purchase or sale activity; it simply establishes Luke’s existing beneficial ownership in 111, Inc.’s Class A equity through fully vested RSUs.
111, Inc. filed an initial ownership report showing director Liu Junling’s equity stake in the company. The filing lists direct ownership of 36,000,000 Class B shares and 1,454,886 Class A ADSs. It also discloses 343,080 Class A RSUs, each representing one Class A ordinary share, all of which have fully vested as of this Form 3 date.
111, Inc. board member Gang Yu filed an initial Form 3 detailing his existing equity interests in the company. As of this filing, he holds 36,000,000 Class B shares, 176,000 Class A ADSs, and 292,362 vested RSUs tied to Class A ordinary shares. He also has 750 additional Class A RSUs outstanding, each representing a right to receive one share at no cash cost before they expire on 2029-12-31.
111, Inc., a China-based company listed in the U.S., submitted a foreign issuer report for September 2025. The report mainly serves to provide an exhibit in which the company announces its unaudited financial results for the second quarter of 2025. The document is signed on behalf of the company by Chief Executive Officer Junling Liu.