111, Inc. Announces Second Quarter 2022 Unaudited Financial Results

SHANGHAI, Aug. 25, 2022 /PRNewswire/ — 111, Inc. (“111” or the “Company”) (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to digitally connecting patients with medicine and healthcare services in China, today announced its unaudited financial results for the second quarter ended June 30, 2022.

Second Quarter 2022 Key Results

• Net revenues were RMB3.04 billion (US$453.4 million), representing an increase of 0.4% year-over-year.

• Gross segment profit ⁽¹⁾ increased by 42.6% year-over-year, with B2B segment profit increasing by 55.1% year-over-year.

• Total operating expenses were RMB271.7 million (US$40.6 million), compared to RMB323.4 million in the same quarter of last year. As a percentage of net revenues, total operating expenses decreased to 8.9% from 10.7% in the same quarter of last year, which reflected continuous improvement in our operation efficiency.

• Non-GAAP loss from operations ⁽²⁾ was RMB52.8 million (US$7.9 million), compared to RMB147.9million in the same quarter of last year. As a percentage of net revenues, non-GAAP loss from operations decreased to 1.7% from 4.9% in the same quarter of last year.

• 111 was appointed by the Shanghai government as a supply guarantee enterprise and managed to open a special green channel, which enabled our vehicle shipping supplies to Shanghai from our Kunshan fulfillment center on a daily basis. We worked diligently and leveraged our online and offline platform and smart supply chain to provide aids to…