111 Inc (YI)

111, Inc. Announces First Quarter 2026 Unaudited Financial ResultsJune 4, 2026 4:00 AM
PR Newswire (US) Continuing Transition toward a More Asset-Light and Operationally Efficient Business ModelNet Revenue of Promotional Products (1) Increased by 70.2% and Gross Profit Rose by 75.0% Year-over-YearTotal Marketplace (MP) Service Revenue Increased by 24.7% Year-over-YearFulfillment Expenses as a Percentage of Revenue Improved by 10 Basis Points Year-over-YearSHANGHAI, June 4, 2026 /PRNewswire/ -- 111, Inc. ("111" or the "Company") (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China, today announced its unaudited financial results for the first quarter ended March 31, 2026.First Quarter 2026 HighlightsNet revenue amounted to RMB2.4 billion (US$342.4 million), representing a 33.1% decrease from RMB3.5 billion in the prior-year quarter. This decline was primarily attributable to the Company's ongoing strategic transition toward a more asset-light and operationally efficient business model. As part of this initiative, the Company divested several underperforming subsidiaries last year and further optimized the fulfillment network through expanded warehouse partnership arrangements, enabling the transition to a warehouse partnership model—where recurring commission income will be generated rather than bearing operational and capital burdens. Meanwhile, total marketplace (MP) service revenue increased by 24.7% year-over-year, demonstrating growth of the Company's marketplace service business and enhanced revenue quality.Net revenue from promotional products amounted to RMB28.9 million, representing 70.2% year-over-year growth, accompanied by a 75.0% increase in gross profit. Furthermore, as of the current quarter, an increasing number of pharmaceutical companies have partnered with 111 to secure general distribution rights for products targeting small and medium-sized chain pharmacies, further strengthening the Company's capabilities in brand building and market penetration. Among such products, "Cravit" has become the flagship offering, with sales growing from 84,000 boxes to 710,000 boxes year-over-year. This performance underscores the Company's distinctive marketing expertise and has generated strong momentum for both upstream suppliers and downstream partners.Fulfillment expenses were RMB61.2 million (US$8.9 million), representing a decrease of 34.6% from RMB93.6 million in the prior-year quarter. As a percentage of net revenue, fulfillment expenses improved to 2.6%, compared with 2.7% in the prior-year quarter, reflecting continued enhancement in operational efficiency and disciplined cost management.(1) Promotional products are the Company's core promoted pharmaceuticals featuring mainstream positioning and high gross margin.Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, commented, "During the first quarter of 2026, we continued to execute our strategic transition toward a more asset-light and platform-oriented operating model. The 24.7% year-over-year increase in total marketplace (MP) service revenue demonstrates steady progress of the strategic initiative and underscores our pursuit of high-quality, scalable and operationally efficient growth. Through ongoing SKU expansion, deeper collaboration with major third-party online platforms, and enhanced brand partnership strategies, our revenue of B2C business also achieved positive growth in this quarter.""Our promotional products have rapidly penetrated pharmacies nationwide via the 111 digital marketing platform, with the product lineup continuously expanding. Net revenue and gross profit from these products posted explosive year-over-year growth. Meanwhile, we are committed to securing general distribution rights for more pharmaceutical products like "Cravit" to consolidate market standing and maintain steady performance. This has proven to be a highly profitable and scalable business model, positioning us for sustained growth, and I look forward to sharing further progress and achievements in the coming quarters.""By optimizing our network and selectively exiting underperforming fulfillment centers, our fulfillment expenses declined by 34.6% year-over-year, outpacing the decrease in revenue. Meanwhile, fulfillment expenses as a percentage of net revenue improved by 10 basis points year-over-year, highlighting our capacity for sustained operational improvement and reflecting our commitment to prudent cost management.""Looking ahead, we believe these initiatives are gradually reshaping 111 from a transaction-driven pharmaceutical distributor into a more technology-enabled and intelligent healthcare platform business. We will continue to integrate AI-enabled capabilities across multiple operational scenarios, including intelligent demand forecasting, inventory optimization, fulfillment routing and merchant operation management. More importantly, we are deploying AI agent-based solutions in pharmacies and healthcare service scenarios to help customers better manage day-to-day operations. Leveraging a lean, intelligent operating model, we aim to expand margins, lift profitability and deliver long-term value to stakeholders."First Quarter 2026 Financial ResultsNet revenue amounted to RMB2.4 billion (US$342.4 million), representing a decrease of 33.1% from RMB3.5 billion in the same quarter of last year, mainly attributable to the strategic optimization.Gross segment profit (2) was RMB126.0 million (US$18.3 million), representing a year-over-year decrease of 35.4%.(In thousands RMB)For the three months ended March 31,
2025
2026
YoYB2B Net Revenue




Product3,457,267
2,282,803
-34.0 %Service16,971
21,868
28.9 %





Sub-Total3,474,238
2,304,671
-33.7 %





Cost of Products Sold (3)3,288,747
2,186,865
-33.5 %





Segment Profit185,491
117,806
-36.5 %Segment Profit %5.3 %
5.1 %



















(In thousands RMB)For the three months ended March 31,
2025
2026
YoYB2C Net Revenue




Product52,312
54,544
4.3 %Service2,729
2,369
-13.2 %





Sub-Total55,041
56,913
3.4 %





Cost of Products Sold45,437
48,761
7.3 %





Segment Profit9,604
8,152
-15.1 %Segment Profit %17.4 %
14.3 %

 (2) Gross segment profit represents net revenue less cost of goods sold.
(3) For segment reporting purposes, purchase rebates are allocated to the B2B segment and B2C segments primarily based on the amount of cost of products sold for each segment. Cost of products sold does not include other direct costs related to cost of product sales such as shipping and handling expense, payroll and benefits of logistic staff, logistic centers rental expenses and depreciation expenses, which are recorded in the fulfillment expenses. Cost of service revenue is recorded in the operating expense.Operating costs and expenses were RMB2.4 billion (US$345.3 million), representing a decrease of 32.5% from RMB3.5 billion in the same quarter of last year.Cost of products sold was RMB2.2 billion (US$324.1 million), representing a decrease of 32.9% from RMB3.3 billion in the same quarter of last year.
 Fulfillment expenses were RMB61.2 million (US$8.9 million), representing a decrease of 34.6% from RMB93.6 million in the same quarter of last year. As a percentage of net revenue, fulfillment expenses accounted for 2.6% this quarter, down from 2.7% in the same quarter of last year.
 Selling and marketing expenses were RMB58.0 million (US$8.4 million), representing a decrease of 14.6% from RMB67.9 million in the same quarter of last year. Excluding the share-based compensation expenses, selling and marketing expenses as a percentage of net revenue accounted for 2.4% in the quarter as compared to 1.9% in the same quarter of last year.
 General and administrative expenses amounted to RMB12.6 million (US$1.8 million), representing a decrease of 31.1% from RMB18.3 million in the same quarter of last year. Excluding the share-based compensation expenses, general and administrative expenses as a percentage of net revenue accounted for 0.5% this quarter, maintaining the same as last year.
 Technology expenses were RMB14.4 million (US$2.1 million), representing a decrease of 6.9% from RMB15.5 million in the same quarter of last year. Excluding the share-based compensation expenses, technology expenses as a percentage of net revenue accounted for 0.6% in the quarter as compared to 0.4% in the same quarter of last year.Loss from operations was RMB20.0 million (US$2.9 million), compared with income from operations of RMB0.1 million in the same quarter of last year.Non-GAAP loss from operations (4) was RMB18.8 million (US$2.7 million), compared with non-GAAP income from operations of RMB4.3 million in the same quarter of last year.Net loss was RMB26.8 million (US$3.9 million), compared with RMB7.3 million in the same quarter of last year. As a percentage of net revenue, net loss accounted for 1.1% this quarter as compared to 0.2% in the same quarter of last year.Non-GAAP net loss (5) was RMB25.7 million (US$3.7 million), compared with RMB3.2 million in the same quarter of last year. As a percentage of net revenue, non-GAAP net loss accounted for 1.1% this quarter as compared to 0.1% in the same quarter of last year.Net loss attributable to ordinary shareholders was RMB37.0 million (US$5.4 million), compared with RMB17.6 million in the same quarter of last year. As a percentage of net revenue, net loss attributable to ordinary shareholders accounted for 1.6% this quarter as compared to 0.5% in the same quarter of last year.Non-GAAP net loss attributable to ordinary shareholders (6) was RMB35.9 million (US$5.2 million), compared with RMB13.5 million in the same quarter of last year. As a percentage of net revenue, non-GAAP net loss attributable to ordinary shareholders accounted for 1.5% this quarter as compared to 0.4% in the same quarter of last year.(4) Non-GAAP income (loss) from operations represents income (loss) from operations excluding share-based compensation expenses.(5) Non-GAAP net loss represents net loss excluding share-based compensation expenses, net of tax. Considering the impact of accretion of redeemable non-controlling interest for the first quarter 2026, non-GAAP net loss is used as a meaningful measurement of the operation performance of the Company.(6) Non-GAAP net loss attributable to ordinary shareholders represents net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax.As of March 31, 2026, the Company held cash and cash equivalents, restricted cash and short-term investments totaling RMB396.6 million (US$57.5 million), compared to RMB611.3 million as of December 31, 2025. Amount of RMB0.95 billion has been included in the balances of redeemable non-controlling interests and accrued expenses and other current liabilities. This amount is owed to a group of investors of 1 Pharmacy Technology pursuant to equity investments made in 2020, as previously disclosed in the Company's annual report. To date, 111 had repaid approximately RMB282.2 million to all investors in 1 Pharmacy Technology as a result of the holders exercising their redemption rights. Following further discussions, investors representing 60.3% of the total outstanding principal amount have agreed to further restructure the redemption obligation at extended periods, if the holders exercise their redemption rights. For further details on the terms of 111's arrangements with these investors, please see "Item 5. Operating and Financial Review and Prospects—B. Liquidity and Capital Resources" in the Company's annual report for the fiscal year ended December 31, 2025.Use of Non-GAAP Financial MeasuresIn evaluating the business, the Company considers and uses non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS, as supplemental measures to review and assess its operating performance. The Company defines non-GAAP income from operations as income from operations excluding share-based compensation expenses. The Company defines non-GAAP net income (loss) as net loss excluding share-based compensation expenses, net of tax. The Company defines non-GAAP net loss attributable to ordinary shareholders as net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax. The Company defines non-GAAP loss per ADS as net loss attributable to ordinary shareholders per ADS excluding share-based compensation expenses, net of tax per ADS. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.The Company believes that non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in income from operations and net loss. Share-based compensation expenses is a non-cash expense that varies from period to period. As a result, management excludes the items from its internal operating forecasts and models. Management believes that the adjustments for share-based compensation expenses provide investors with a reasonable basis to measure the company's core operating performance, in a more meaningful comparison with the performance of other companies. The Company believes that non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS provide useful information about its operating results, enhances the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP income from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, or non-GAAP loss per ADS is that it does not reflect all items of income and expense that affect the Company's operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.The Company compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP measures, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.Reconciliation of the non-GAAP financial measures to the most comparable U.S. GAAP measures is included at the end of this press release.Exchange Rate Information Statement This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.8980 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2026.Forward-Looking StatementsThis press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111's strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.About 111, Inc.111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company's online platform, 1 Medicine, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.For more information on 111, please visit: http://ir.111.com.cn/.For more information, please contact:111, Inc.
Investor Relations
Email: ir@111.com.cn 111, Inc.
Media Relations
Email: press @ReturntoSender-2053 6666 (China)111, Inc.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except for share and per share data)

As ofAs of
December 31, 2025March 31, 2026
RMB

RMB
US$ASSETS





Current assets:





Cash and cash equivalents510,967

346,203
50,189Restricted cash50,337

30,383
4,405Short-term investments50,031

20,013
2,901Accounts receivable, net259,686

188,963
27,394Notes receivable58,617

74,349
10,778Inventories998,465

1,016,460
147,356Prepayments and other current assets196,756

185,383
26,875Total current assets2,124,859

1,861,754
269,898Property and equipment, net21,108

21,211
3,075Intangible assets, net868

788
114Other non-current assets9,285

9,345
1,355Operating lease right-of-use assets44,122

41,729
6,049Total assets2,200,242

1,934,827
280,491






LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' DEFICIT




Current liabilities:





Short-term borrowings187,631

257,631
37,349Accounts payable1,282,368

1,212,511
175,777Accrued expense and other current liabilities483,676

248,060
35,961Total current liabilities1,953,675

1,718,202
249,087Long-term operating lease liabilities29,965

26,310
3,814Other non-current liabilities2,181

2,181
316Total liabilities1,985,821

1,746,693
253,217






MEZZANINE EQUITY





Redeemable non-controlling interests935,917

946,924
137,275






SHAREHOLDERS' DEFICIT





Ordinary shares Class A 34

34
5Ordinary shares Class B 25

25
4Treasury shares (5,887)

(5,887)
(853)Additional paid-in capital3,181,343

3,182,470
461,361Accumulated deficit(3,950,384)

(3,987,425)
(578,055)Accumulated other comprehensive income72,635

72,015
10,440Total shareholders' deficit(702,234)

(738,768)
(107,098)Non-controlling interest(19,262)

(20,022)
(2,903)Total deficit(721,496)

(758,790)
(110,001)Total liabilities, mezzanine equity and deficit2,200,242

1,934,827
280,491     111, Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(In thousands, except for share and per share data)

For the three months ended March 31,
2025
2026
RMB
RMB
US$Net revenues3,529,279
2,361,584
342,358Operating costs and expenses:




 Cost of products sold(3,334,184)
(2,235,626)
(324,098) Fulfillment expenses(93,566)
(61,224)
(8,876) Selling and marketing expenses(67,908)
(58,024)
(8,412) General and administrative expenses(18,341)
(12,636)
(1,832) Technology expenses(15,459)
(14,386)
(2,086) Other operating income324
346
50Total operating costs and expenses(3,529,134)
(2,381,550)
(345,254)Income (Loss) from operations145
(19,966)
(2,896) Interest income1,254
733
106 Interest expense(8,732)
(7,858)
(1,139) Foreign exchange gain42
275
40 Other income, net-
21
3Loss before income taxes(7,291)
(26,795)
(3,886) Income tax expense(16)
-
-Net loss(7,307)
(26,795)
(3,886)Net loss attributable to non-controlling interest1,745
761
110Net loss attributable to redeemable non-controlling interest445
1,672
242Adjustment attributable to redeemable non-controlling interest(12,532)
(12,679)
(1,838)Net loss attributable to ordinary shareholders(17,649)
(37,041)
(5,372)Other comprehensive loss




 Unrealized gains of available-for-sale securities,-
116
17 Realized gains of available-for-sale debt securities-
(134)
(19) Foreign currency translation adjustments(80)
(602)
(87)Comprehensive loss(17,729)
(37,661)
(5,461)Loss per ADS:




 Basic and diluted(2.00)
(4.20)
(0.60)Weighted average number of shares used in computation of loss per share



 Basic and diluted173,119,578
175,898,056
175,898,056 111, Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)

For the three months ended March 31,
2025
2026
RMB
RMB
US$





Net cash provided by (used in) operating activities112,599
(91,722)
(13,297)Net cash (used in) provided by investing activities(1,088)
29,350
4,256Net cash (used in) provided by financing activities(72,981)
(122,025)
(17,690)Effect of exchange rate changes on cash and cash equivalents, and restricted cash(30)
(321)
(47)Net increase (decrease) in cash and cash equivalents, and restricted cash38,500
(184,718)
(26,778)Cash and cash equivalents, and restricted cash at the beginning of the period518,332
561,304
81,372Cash and cash equivalents, and restricted cash at the end of the period556,832
376,586
54,594 111, Inc.Unaudited Reconciliation of GAAP and Non-GAAP Results(In thousands, except for share and per share data)

For the three months ended March 31,
2025
2026
RMB
RMB
US$





Income (loss) from operations145
(19,966)
(2,896)Add: Share-based compensation expenses4,115
1,127
163Non-GAAP income (loss) from operations4,260
(18,839)
(2,733)





Net loss(7,307)
(26,795)
(3,886)Add: Share-based compensation expenses, net of tax4,115
1,127
163Non-GAAP net loss(3,192)
(25,668)
(3,723)





Net loss attributable to ordinary shareholders(17,649)
(37,041)
(5,372)Add: Share-based compensation expenses, net of tax4,115
1,127
163Non-GAAP net loss attributable to ordinary shareholders(13,534)
(35,914)
(5,209)





Loss per ADS (7): Basic and diluted(2.00)
(4.20)
(0.60)Add: Share-based compensation expenses per ADS (7), net of tax0.40
0.20
0.00Non-GAAP loss per ADS (7)(1.60)
(4.00)
(0.60)





(7) Every one ADS represents twenty Class A ordinary shares.




  View original content:https://www.prnewswire.com/news-releases/111-inc-announces-first-quarter-2026-unaudited-financial-results-302791140.htmlSOURCE 111, Inc. Original: 111, Inc. Announces First Quarter 2026 Unaudited Financial Results

111, Inc. Announces Fourth Quarter and Fiscal Year 2025 Financial ResultsApril 9, 2026 3:00 AM
PR Newswire (US)

Continuing Transition to an Asset-Light Business Model to Improve Overall EfficiencyDelivered Non-GAAP Operating Profitability in Both Q4'25 and FY'25Generated Positive Operating Cash Flow for Both Q4'25 and FY'25Continued Gross Profit Margin Expansion for B2B Business in Both Q4'25 and FY'25SHANGHAI, April 9, 2026 /PRNewswire/ -- 111, Inc. ("111" or the "Company") (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025.2025 Executing Strategic Optimization: Embraces Asset-Light Partnership Network GrowthIn 2025, the Company proactively implemented strategic structural optimization by divesting its 100% equity interests in several subsidiaries. While this structural optimization created a temporary headwind for top-line revenue, these facilities have now joined our ecosystem as fulfillment partners and are dedicated to serving our customers exclusively. Through the divestiture of these entities and our transition to a warehouse partnership model—where we generate recurring commission income rather than bearing the operational and capital burdens—we have successfully driven continued margin expansion. By optimizing our network and selectively exiting underperforming fulfillment centers, we have strengthened our ability to further improve our profitability and liquidity profile in the future.Fourth Quarter 2025 HighlightsNet revenues were RMB2.8 billion (US$403.3 million) and gross segment profit (1) was RMB164.9 million (US$23.6 million). Due to the strategic optimization, gross margin continued to expand. B2B gross profit margin reached 5.6%, representing an improvement of 60 basis points from 5.0% in the same quarter of 2024.Total operating expenses were RMB165.2 million (US$23.6 million), representing a decrease of 21.3% compared to RMB209.8 million in the same quarter of 2024, highlighting continued cost optimization and efficiency gains.Non-GAAP income from operations (2) was RMB0.2 million (US$0.03 million), compared to a non-GAAP loss from operations of RMB2.3 million in the same quarter of 2024. The Company achieved non-GAAP operating profitability in the quarter, marking a year-over-year turnaround from loss to profit.Net cash provided by operating activities was RMB29.9 million (US$4.3 million). The Company achieved a meaningful operating cash flow turnaround, moving from negative to positive year-over-year, underscoring stronger business fundamentals and improved financial health.Fiscal Year 2025 HighlightsNet revenues were RMB12.6 billion (US$1.8 billion) and gross segment profit was RMB723.4 million (US$103.4 million). Due to the strategic optimization, B2B gross profit margin rose 10 basis points from 5.4% to 5.5% year-over-year, reflecting continued optimization of core operations.Total operating expenses were RMB725.8 million (US$103.8 million), representing a decrease of 12.3% compared to RMB827.1 million in the prior year. The Company continued to focus on operational efficiency and disciplined cost management.Non-GAAP income from operations was RMB7.7 million (US$1.1 million), compared to RMB22.3 million in 2024. The year-over-year decrease reflected the intentional reduction in revenue scale resulting from the strategic transition, partially offset by continued gross margin expansion. Importantly, the Company maintained non-GAAP operating profitability for both 2025 and 2024, marking a key milestone on the path toward sustainable earnings.Net cash provided by operating activities was RMB119.1 million (US$17.0 million). The Company delivered annual positive operating cash flow for both 2025 and 2024, demonstrating improved financial discipline and business quality.Cash and cash equivalents, restricted cash and short-term investments amounted to RMB611.3 million (US$87.4 million) as of December 31, 2025, representing an increase of 17.9% compared to the end of 2024.(1) Gross segment profit represents net revenues less cost of goods sold.(2) Non-GAAP income (loss) from operations represents income (loss) from operations excluding share-based compensation expenses.Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, commented, "2025 marked a pivotal year for 111, as we steadily advanced our transition to a warehouse partnership model and achieved a key profitability milestone. We delivered non-GAAP operating profitability and positive operating cash flow for both the quarter and the full year. These results underscore the strength of our platform and validate the strategic direction we have set for the Company.""In 2025, we proactively implemented strategic structural optimization by divesting 100% equity interests in several subsidiaries. Through the divestiture of these entities and our transition to a warehouse partnership model—where we generate recurring commission income rather than bearing operational and capital burdens—we achieved sustained gross margin expansion for the B2B business. We believe this initiative reinforces our focus on pursuing asset-light, profitable growth, strengthening our ability to scale the warehouse partnership network efficiently while maintaining a healthier financial structure.""Our strategic initiatives are yielding significant results. Promotional products are rapidly reaching pharmacies nationwide through the 111 digital marketing platform. Revenue from all marketing-promoted products increased by 76.2% and gross profit rose 81.7% compared to the same quarter last year. As a notable promotional product, "Cravit" has become our flagship star product, whose monthly sales volume rose sharply from 20,000 boxes at launch in March to a monthly peak of 290,000 boxes in November 2025. GMV generated by the product in 2025 also increased by 368.2% on a year-over-year basis. This success underscores our unique marketing capabilities and has delivered strong momentum to both our upstream and downstream partners.""Looking ahead, with our solid foundation and strategic optimization, we are well positioned for sustainable, high-quality growth. We have deeply integrated AI applications across our operations to drive meaningfully enhanced efficiency, and will continue to focus on leading the Company's evolution from a digital to an intelligent ecosystem—creating durable long-term opportunities for our partners, customers, and shareholders. Through a more streamlined and intelligent operating model, we aim to drive consistent margin expansion, improve profitability, and deliver enduring value to all stakeholders."Fourth Quarter 2025 Financial ResultsNet revenues were RMB2.8 billion (US$403.3 million), representing a decrease of 26.7% from RMB3.8 billion in the same quarter of 2024.(In thousands RMB)For the three months ended
December 31,
2024
2025
YoYB2B Net Revenue




Product3,759,824
2,742,449
-27.1 %Service21,771
21,721
-0.2 %





Sub-Total3,781,595
2,764,170
-26.9 %





Cost of Products Sold (3)3,592,588
2,609,356
-27.4 %





Segment Profit189,007
154,814
-18.1 %Segment Profit %5.0 %
5.6 %







(In thousands RMB)For the three months ended
December 31,
2024
2025
YoYB2C Net Revenue




Product62,480
53,027
-15.1 %Service3,700
2,967
-19.8 %





Sub-Total66,180
55,994
-15.4 %





Cost of Products Sold52,705
45,912
-12.9 %





Segment Profit13,475
10,082
-25.2 %Segment Profit %20.4 %
18.0 %

(3) For segment reporting purposes, purchase rebates are allocated to the B2B segment and B2C segments primarily based on the amount of cost of products sold for each segment. Cost of products sold does not include other direct costs related to cost of product sales such as shipping and handling expense, payroll and benefits of logistic staff, logistic centers rental expenses and depreciation expenses, which are recorded in the fulfillment expenses.Operating costs and expenses were RMB2.8 billion (US$403.3 million), representing a decrease of 26.8% from RMB3.9 billion in the same quarter of 2024.Cost of products sold was RMB2.7 billion (US$379.7 million), representing a decrease of 27.2% from RMB3.6 billion in the same quarter of 2024.
 Fulfillment expenses were RMB74.1 million (US$10.6 million), representing a decrease of 29.1% from RMB104.5 million in the same quarter of 2024. Fulfillment expenses accounted for 2.6% of net revenues this quarter as compared to 2.7% in the same quarter of 2024.
 Selling and marketing expenses were RMB62.7 million (US$9.0 million), representing a decrease of 17.6% from RMB76.2 million in the same quarter of 2024. Excluding the share-based compensation expenses of RMB0.6 million for the quarter and RMB1.8 million for the same quarter of 2024, respectively, selling and marketing expenses as a percentage of net revenues accounted for 2.2% in the quarter as compared to 1.9% in the same quarter of 2024.
 General and administrative expenses were RMB18.0 million (US$2.6 million), representing a decrease of 10.6% from RMB20.2 million in the same quarter of 2024. Excluding the share-based compensation expenses, general and administrative expenses as a percentage of net revenues accounted for 0.6% in the quarter as compared to 0.5% in the same quarter of 2024.
 Technology expenses were RMB14.8 million (US$2.1 million), representing a decrease of 4.2% from RMB15.4 million in the same quarter of 2024. Excluding the share-based compensation expenses of RMB0.1 million for the quarter and RMB1.0 million for the same quarter 2024, respectively, technology expenses as a percentage of net revenues accounted for 0.5% in the quarter as compared to 0.4% in the same quarter of 2024.Loss from operations was RMB0.3 million (US$0.05 million), representing a significant 95.6% narrowing compared to a loss of RMB7.3 million in the same quarter of 2024. As a percentage of net revenues, loss from operations accounted for 0.01% in the quarter, down from 0.2% in the same quarter of 2024.Non-GAAP income from operations was RMB0.2 million (US$0.03 million), compared to a non-GAAP loss from operations of RMB2.3 million in the same quarter of 2024, marking a year-over-year turnaround from loss to profit.Net loss was RMB6.5 million (US$0.9 million), representing an improvement of 48.3% from RMB12.5 million in the same quarter of 2024. As a percentage of net revenues, net loss accounted for 0.2% in the quarter, down from 0.3% in the same quarter of 2024.Non-GAAP net loss (4) was RMB5.9 million (US$0.9 million), representing an improvement of 20.9% from RMB7.5 million in the same quarter of 2024. As a percentage of net revenues, non-GAAP net loss accounted for 0.2% in the quarter, consistent with the same period last year.Net loss attributable to ordinary shareholders was RMB16.2 million (US$2.3 million), representing an improvement of 18.2% from RMB19.8 million in the same quarter of 2024. As a percentage of net revenues, net loss attributable to ordinary shareholders accounted for 0.6% in the quarter as compared to 0.5% in the same quarter of 2024.Non-GAAP net loss attributable to ordinary shareholders (5) was RMB15.7 million (US$2.2 million), compared to RMB14.8 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net loss attributable to ordinary shareholders accounted for 0.6% in the quarter as compared to 0.4% in the same quarter of 2024.(4) Non-GAAP net loss represents net loss excluding share-based compensation expenses, net of tax. Considering the impact of accretion of redeemable non-controlling interest for the fourth quarter and fiscal year ended December 31, 2025, non-GAAP net loss is used as a meaningful measurement of the operation performance of the Company.(5) Non-GAAP net loss attributable to ordinary shareholders represents net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax.Fiscal Year 2025 Financial ResultsNet revenues were RMB12.6 billion (US$1.8 billion), representing a decrease of 12.8% from RMB14.4 billion in the previous year.(In thousands RMB)For the year ended December 31,
2024
2025
YoYB2B Net Revenue




Product14,033,543
12,247,430
-12.7 %Service89,609
73,775
-17.7 %





Sub-Total14,123,152
12,321,205
-12.8 %





Cost of Products Sold13,357,617
11,641,681
-12.8 %





Segment Profit765,535
679,524
-11.2 %Segment Profit %5.4 %
5.5 %







(In thousands RMB)For the year ended December 31,
2024
2025
YoYB2C Net Revenue




Product261,197
223,217
-14.5 %Service16,900
11,601
-31.4 %





Sub-Total278,097
234,818
-15.6 %





Cost of Products Sold214,403
190,936
-10.9 %





Segment Profit63,694
43,882
-31.1 %Segment Profit %22.9 %
18.7 %

 Operating costs and expenses were RMB12.6 billion (US$1.8 billion), representing a decrease of 12.8% from RMB14.4 billion in 2024.Cost of products sold was RMB11.8 billion (US$1.7 billion), representing a decrease of 12.8% from RMB13.6 billion in 2024.
 Fulfillment expenses were RMB345.2 million (US$49.4 million), representing a decrease of 9.4% from RMB381.0 million in 2024. Fulfillment expenses accounted for 2.7% of net revenues in 2025 as compared to 2.6% in 2024.
 Selling and marketing expenses were RMB258.6 million (US$37.0 million), representing a decrease of 17.6% from RMB313.9 million in the previous year. Excluding the share-based compensation expenses of RMB4.0 million for 2025 and RMB6.9 million for 2024, respectively, selling and marketing expenses as a percentage of net revenues, decreased to 2.0% in 2025 from 2.1% in 2024.
 General and administrative expenses were RMB69.5 million (US$9.9 million), representing a decrease of 2.0% from RMB70.9 million in 2024. Excluding the share-based compensation expenses of RMB4.9 million for 2025 and RMB9.2 million for 2024, respectively, general and administrative expenses accounted for 0.5% of net revenues in 2025 as compared to 0.4% in 2024.
 Technology expenses were RMB60.4 million (US$8.6 million), representing a decrease of 13.3% from RMB69.6 million in 2024. Excluding the share-based compensation expenses of RMB1.1 million for 2025 and RMB4.0 million for 2024, respectively, technology expenses accounted for 0.5% of net revenues in 2025, maintaining the same percentage as 2024.Loss from operations was RMB2.4 million (US$0.3 million), compared to income from operations of RMB2.1 million in 2024.Non-GAAP income from operations was RMB7.7 million (US$1.1 million), compared to RMB22.3 million in 2024. As a percentage of net revenues, non-GAAP income from operations accounted for 0.1% in 2025 as compared to 0.2% in 2024.Net loss was RMB22.5 million (US$3.2 million), compared to RMB20.8 million in 2024. As a percentage of net revenues, net loss accounted for 0.2% in 2025 as compared to 0.1% in 2024.Non-GAAP net loss was RMB12.5 million (US$1.8 million), compared to RMB0.6 million in 2024. As a percentage of net revenues, non-GAAP net loss accounted for 0.1% in 2025 as compared to 0.004% in 2024.Net loss attributable to ordinary shareholders was RMB66.4 million (US$9.5 million), compared to RMB64.7 million in 2024. As a percentage of net revenues, net loss attributable to ordinary shareholders accounted for 0.5% in 2025 as compared to 0.4% in 2024.Non-GAAP net loss attributable to ordinary shareholders was RMB56.3 million (US$8.1 million), compared to RMB44.6 million in 2024.  As a percentage of net revenues, non-GAAP net loss attributable to ordinary shareholders accounted for 0.4% in 2025, up from 0.3% in 2024.As of December 31, 2025, the Company held cash and cash equivalents, restricted cash and short-term investments totaling RMB611.3 million (US$87.4 million), compared to RMB518.3 million as of December 31, 2024. To date, amount of RMB1.12 billion has been included in the balances of redeemable non-controlling interests and accrued expenses and other current liabilities. This amount is owed to a group of investors of 1 Pharmacy Technology pursuant to equity investments made in 2020, as previously disclosed. 111 has received redemption requests from certain of such investors in accordance with the terms of their initial investments in 1 Pharmacy Technology. Following communication and negotiation, the Company has further reached agreements with, or received commitment letters from, all investors to reschedule the repayments, allowing for phased repayments at extended periods, if the investors exercise their redemption rights. In February 2026, the Company made repayments of approximately RMB189.0 million (US$27.0 million) to all investors of 1 Pharmacy Technology. For further details about such investors' investments in 1 Pharmacy Technology, please see "Item 4. Information on the Company-A. History and Development of the Company" in the Company's annual report for the fiscal year ended December 31, 2024.Use of Non-GAAP Financial MeasuresIn evaluating the business, the Company considers and uses non-GAAP income (loss) from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS, as supplemental measures to review and assess its operating performance. The Company defines non-GAAP income (loss) from operations as income (loss) from operations excluding share-based compensation expenses. The Company defines non-GAAP net loss as net loss excluding share-based compensation expenses, net of tax. The Company defines non-GAAP net loss attributable to ordinary shareholders as net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax. The Company defines non-GAAP loss per ADS as net loss attributable to ordinary shareholders per ADS excluding share-based compensation expenses, net of tax per ADS. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.The Company believes that non-GAAP income (loss) from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in income (loss) from operations and net loss. Share-based compensation expenses is a non-cash expense that varies from period to period. As a result, management excludes the items from its internal operating forecasts and models. Management believes that the adjustments for share-based compensation expenses provide investors with a reasonable basis to measure the company's core operating performance, in a more meaningful comparison with the performance of other companies. The Company believes that non-GAAP income (loss) from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS provide useful information about its operating results, enhances the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP income (loss) from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, or non-GAAP loss per ADS is that it does not reflect all items of income and expense that affect the Company's operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.The Company compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP measures, all of which should be considered when evaluating the Company's performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.Reconciliation of the non-GAAP financial measures to the most comparable U.S. GAAP measures is included at the end of this press release.Exchange Rate Information Statement This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.9931 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of December 31, 2025.Forward-Looking StatementsThis press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111's strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company's ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.About 111, Inc.111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company's online platform, 1 Medicine, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.For more information on 111, please visit: http://ir.111.com.cn/.For more information, please contact:111, Inc. 
Investor Relations 
Email: ir@111.com.cn 111, Inc. 
Media Relations 
Email: press @ReturntoSender-2053 6666 (China) 111, Inc.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except for share and per share data)

As ofAs of
December 31, 2024December 31, 2025
RMB

RMB
US$ASSETS





Current assets:





Cash and cash equivalents462,289

510,967
73,067Restricted cash56,043

50,337
7,198Short-term investments-

50,031
7,154Accounts receivable, net 413,101

259,686
37,135Notes receivable78,827

58,617
8,382Inventories1,387,403

998,465
142,779Prepayments and other current assets251,994

196,756
28,136Total current assets2,649,657

2,124,859
303,851Property and equipment, net32,903

21,108
3,018Intangible assets, net1,437

868
124Long-term investments-

-
-Other non-current assets14,682

9,285
1,328Operating lease right-of-use assets89,071

44,122
6,309Total assets2,787,750

2,200,242
314,630






LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' DEFICIT




Current liabilities:





Short-term borrowings160,981

187,631
26,831Accounts payable1,721,425

1,282,368
183,376Accrued expense and other current liabilities460,173

483,676
69,164Total current liabilities2,342,579

1,953,675
279,371Long-term operating lease liabilities55,448

29,965
4,285Other non-current liabilities8,961

2,181
312Total liabilities2,406,988

1,985,821
283,968






MEZZANINE EQUITY





Redeemable non-controlling interests1,038,914

935,917
133,834






SHAREHOLDERS' DEFICIT





Ordinary shares Class A33

34
5Ordinary shares Class B25

25
3Treasury shares(5,887)

(5,887)
(842)Additional paid-in capital3,172,820

3,181,343
454,926Accumulated deficit(3,883,992)

(3,950,384)
(564,897)Accumulated other comprehensive income74,357

72,635
10,387Total shareholders' deficit(642,644)

(702,234)
(100,418)Non-controlling interest(15,508)

(19,262)
(2,754)Total deficit(658,152)

(721,496)
(103,172)Total liabilities, mezzanine equity and deficit2,787,750

2,200,242
314,630  111, Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (In thousands, except for share and per share data)

For the three months ended December 31,
For the year ended December 31,
2024
2025
2024
2025
RMB
RMB
US$
RMB
RMB
US$Net revenues3,847,775
2,820,164
403,278
14,401,249
12,556,023
1,795,488Operating costs and expenses:










 Cost of products sold(3,645,293)
(2,655,268)
(379,698)
(13,572,020)
(11,832,617)
(1,692,042) Fulfillment expenses(104,476)
(74,058)
(10,590)
(381,035)
(345,222)
(49,366) Selling and marketing expenses(76,173)
(62,746)
(8,973)
(313,897)
(258,643)
(36,985) General and administrative expenses(20,160)
(18,031)
(2,578)
(70,907)
(69,459)
(9,933) Technology expenses(15,410)
(14,769)
(2,112)
(69,635)
(60,391)
(8,636) Other operating income, net6,418
4,387
627
8,359
7,932
1,134Total operating costs and expenses(3,855,094)
(2,820,485)
(403,324)
(14,399,135)
(12,558,400)
(1,795,828)(Loss) Income from operations(7,319)
(321)
(46)
2,114
(2,377)
(340) Interest income1,467
932
133
7,041
3,885
556 Interest expense(5,264)
(11,329)
(1,620)
(28,331)
(35,572)
(5,087) Foreign exchange (loss) gain(949)
190
27
(909)
480
69 Other (loss) income, net(479)
4,039
578
(595)
11,082
1,585Loss before income taxes(12,544)
(6,489)
(928)
(20,680)
(22,502)
(3,217) Income tax expense(3)
-
-
(96)
(13)
(2)Net loss(12,547)
(6,489)
(928)
(20,776)
(22,515)
(3,219)Net loss attributable to non-controlling interest8,829
209
30
8,398
4,094
585Net loss attributable to redeemable non-controlling interest824
316
45
1,992
1,106
158Adjustment attributable to redeemable non-controlling interest(16,947)
(10,257)
(1,467)
(54,357)
(49,077)
(7,018)Net loss attributable to ordinary shareholders(19,841)
(16,221)
(2,320)
(64,743)
(66,392)
(9,494)Other comprehensive loss










 Unrealized (loss) gain of available-for-sale securities,(320)
677
97
1,074
677
97 Realized gain (loss) of available-for-sale debt securities321
(646)
(92)
(1,217)
(646)
(92) Foreign currency translation adjustments1,754
(441)
(63)
1,986
(1,753)
(251)Comprehensive loss(18,086)
(16,631)
(2,378)
(62,900)
(68,114)
(9,740)Loss per ADS:










 Basic and diluted(2.20)
(1.80)
(0.20)
(7.60)
(7.60)
(1.00)Weighted average number of shares used in computation of loss per share









 Basic and diluted172,757,611
175,251,218
175,251,218
171,835,632
174,026,392
174,026,392  111, Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)

For the three months ended December 31,
For the year ended December 31,
2024
2025
2024
2025
RMB
RMB
US$
RMB
RMB
US$











Net cash (used in) provided by operating activities (48,547)
29,871
4,271
263,016
119,142
17,036Net cash provided by (used in) investing activities 37,517
(22,438)
(3,208)
37,376
(53,723)
(7,681)Net cash (used in) provided by financing activities(35,783)
26,561
3,797
(406,236)
(21,194)
(3,031)Effect of exchange rate changes on cash and cash equivalents, and restricted cash734
(239)
(34)
628
(1,253)
(179)Net (decrease) increase in cash and cash equivalents, and restricted cash(46,079)
33,755
4,826
(105,216)
42,972
6,145Cash and cash equivalents, and restricted cash at the beginning of the period564,411
527,549
75,439
623,548
518,332
74,120Cash and cash equivalents, and restricted cash at the end of the period518,332
561,304
80,265
518,332
561,304
80,265   111, Inc.Unaudited Reconciliation of GAAP and Non-GAAP Results (In thousands, except for share and per share data)

For the three months ended December 31,
For the year ended December 31,
2024
2025
2024
2025
RMB
RMB
US$
RMB
RMB
US$











(Loss) Income from operations(7,319)
(321)
(46)
2,114
(2,377)
(340)Add: Share-based compensation expenses5,027
544
78
20,149
10,047
1,437Non-GAAP (loss) income from operations(2,292)
223
32
22,263
7,670
1,097











Net loss(12,547)
(6,489)
(928)
(20,776)
(22,515)
(3,219)Add: Share-based compensation expenses, net of tax5,027
544
78
20,149
10,047
1,437Non-GAAP net loss(7,520)
(5,945)
(850)
(627)
(12,468)
(1,782)











Net loss attributable to ordinary shareholders(19,841)
(16,221)
(2,320)
(64,743)
(66,392)
(9,494)Add: Share-based compensation expenses, net of tax5,027
544
78
20,149
10,047
1,437Non-GAAP net loss attributable to ordinary shareholders(14,814)
(15,677)
(2,242)
(44,594)
(56,345)
(8,057)











Loss per ADS (6): Basic and diluted(2.20)
(1.80)
(0.20)
(7.60)
(7.60)
(1.00)Add: Share-based compensation expenses per ADS (6), net of tax0.60
0.00
0.00
2.40
1.20
0.20Non-GAAP loss per ADS (6)(1.60)
(1.80)
(0.20)
(5.20)
(6.40)
(0.80)











(6) Every one ADS represents twenty Class A ordinary shares. 










 



View original content:https://www.prnewswire.com/news-releases/111-inc-announces-fourth-quarter-and-fiscal-year-2025-financial-results-302737785.htmlSOURCE 111, Inc

Original: 111, Inc. Announces Fourth Quarter and Fiscal Year 2025 Financial Results

Why no chatter here?

YI new 52 low

YI under $2

Things looking up here after $5.01 bottom.

Losing $20,000,000 million last quarter and a ($0.24) last quarter and ($.84) for the year

Book Value Per Share (mrq) $2.49

Profitability
Profit Margin -7.00%
Operating Margin (ttm) 0.00%

Management Effectiveness
Return on Assets (ttm) -14.12%
Return on Equity (ttm) -53.09%

$YI : Latest Quarterly Presentation


http://ir.111.com.cn/static-files/5456efa9-8ef9-4c4c-9aa9-b64a59ca7262



Dropped down to $5.55 ......... 3day slide



GO $YI

The relationship with China is Going to be fine. President Trump late yesterday said in the interim before the next talks he will not make any changes. YI Will do just fine especially with the new partner.