Press Release: 111, Inc. Announces Second Quarter -4

• Maintained Quarterly Operational Profitability
• Operating Expenses as a Percentage of Revenues Decreased 20 Basis Points YoY
• Maintained Positive Operating Cash Flow in the First Half of the Year

SHANGHAI, Sept. 17, 2025 /PRNewswire/ — 111, Inc. ("111" or the "Company") , 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 second quarter ended June 30, 2025.

Second Quarter 2025 Highlights

• Total operating expenses were RMB185.3 million (US$25.9 million), an improvement of 9.3% compared to RMB204.3 million in the same quarter of last year. As a percentage of net revenues, total operating expenses decreased by 20 basis points to 5.8% from 6.0% in the same quarter of last year, demonstrating continuous improvement in the Company's operational efficiency.
• Income from operations was RMB0.1 million (US$0.01 million), compared to RMB3.3 million in the same quarter of last year. As a percentage of net revenues, income from operations accounted for 0.003% this quarter as compared to 0.1% in the same quarter of last year.
• Non-GAAP income from operations (1) was RMB3.0 million (US$0.4 million), compared to RMB8.5 million in the same quarter of last year. As a percentage of net revenues, Non-GAAP income from operations accounted for 0.1% this quarter as compared to 0.2% in the same quarter of last year.

(1) (Non-GAAP income from operations represents income from operations
excluding share-based compensation expenses.)

Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, commented, "In the second quarter of 2025, we continued to navigate a challenging macroeconomic landscape, demonstrating the resilience of our business and our unwavering commitment to operational excellence. I am pleased to report that we sustained our operational profitability and maintained a positive operating cash flow for the first half of the year. Our disciplined approach to cost management and efficiency improvements is evident in the 9.3% year-over-year reduction in total operating expenses, which, as a percentage of net revenues, decreased by 20 basis points to 5.8%."

"Our strategic initiatives are yielding significant results. Marketing promotional products quickly reach pharmacies nationwide through the 111 digital marketing platform. Marketing promotional products related sales revenue increased by 53.6%, customer count increased by 19.0% YoY. This success underscores our unique capability to digitally empower our upstream partners. Furthermore, our general agency business model is gaining strong momentum. As the general distributor for a first-tier original research anti-infection drug among small and medium-sized chains, customer numbers and sales volume continue to grow monthly. Monthly sales volume rapidly increased to over seven times what it was when the project launched in Q1."

"We have also made substantial progress in strengthening our supply chain capabilities through our 'MANTIANXING' initiative. By the end of Q2, fulfillment centers expanded to 19 locations nationwide. The project generated an inventory value of 355 million RMB in Q2, with GMV increasing by 58.2% compared to Q1."

"Looking ahead, our strategy remains centered on leveraging technology to empower the healthcare value chain. We will continue to invest in AI and digital solutions to optimize our supply chain, deepen customer engagement, and solidify our position as a leader in the tech-enabled healthcare space. Our solid performance this quarter, despite market headwinds, reinforces our confidence in our ability to execute our long-term vision and create sustainable value for our shareholders."

Second Quarter 2025 Financial Results

Net revenues were RMB3.2 billion (US$447.5 million), representing a decrease of 6.4% from RMB3.4 billion in the same quarter of last year.

Gross segment profit (2) was RMB185.4 million (US$25.9 million), representing a decrease of 10.7% from RMB207.6 million in the same quarter of last year.

 
(In thousands RMB)         For the three months ended June 30, 
                           --------------------------------------- 
                                    2024           2025     YoY 
                           -------------  -------------  --------- 
B2B Net Revenue 
Product                        3,328,249      3,122,073     -6.2 % 
Service                           25,270         20,838    -17.5 % 
                           -------------  -------------  --------- 
 
Sub-Total                      3,353,519      3,142,911     -6.3 % 
                           =============  =============  ========= 
 
Cost of Products Sold(3)       3,162,928      2,970,558     -6.1 % 
                           -------------  -------------  --------- 
 
Segment Profit                   190,591        172,353     -9.6 % 
                           =============  =============  ========= 
Segment Profit %                   5.7 %          5.5 % 
                           =============  =============  ========= 
 
 
(In thousands RMB)      For the three months ended June 30, 
                        --------------------------------------- 
                            2024         2025          YoY 
                        ------------  -----------  ------------ 
B2C Net Revenue 
Product                       65,480       59,584        -9.0 % 
Service                        5,371        3,265       -39.2 % 
                        ------------  -----------  ------------ 
 
Sub-Total                     70,851       62,849       -11.3 % 
                        ============  ===========  ============ 
 
Cost of Products Sold         53,844       49,822        -7.5 % 
                        ------------  -----------  ------------ 
 
Segment Profit                17,007       13,027       -23.4 % 
                        ------------  -----------  ------------ 
Segment Profit %              24.0 %       20.7 % 
                        ============  ===========  ============ 
 
 
(2) Gross segment profit represents net revenues 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 RMB3.2 billion (US$447.5 million), representing a decrease of 6.3% from RMB3.4 billion in the same quarter of last year, broadly in line with the decline in net revenues.

• Cost of products sold was RMB3.0 billion (US$421.6 million), representing a decrease of 6.1% from RMB3.2 billion in the same quarter of last year.
• Fulfillment expenses were RMB90.2 million (US$12.6 million), representing an increase of 2.4% from RMB88.1 million in the same quarter of last year. Fulfillment expenses accounted for 2.8% of net revenues this quarter as compared to 2.6% in the same quarter of last year.
• Selling and marketing expenses were RMB66.2 million (US$9.2 million), representing a decrease of 17.7% from RMB80.4 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB1.1 million for the quarter and RMB1.7 million for the same quarter last year, respectively, selling and marketing expenses as a percentage of net revenues accounted for 2.0% in the quarter as compared to 2.3% in the same quarter of last year.
• General and administrative expenses were RMB17.4 million (US$2.4 million), representing an increase of 0.6% from RMB17.3 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB1.6 million for the quarter and RMB2.5 million for the same quarter last year, respectively, general and administrative expenses as a percentage of net revenues accounted for 0.5% this quarter as compared to 0.4% in the same quarter of last year.
• Technology expenses were RMB14.9 million (US$2.1 million), representing a decrease of 19.0% from RMB18.4 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB0.2 million for the quarter and RMB1.0 million for the same quarter last year, respectively, technology expenses as a percentage of net revenues accounted for 0.5% this quarter, maintaining the same as last year.

Income from operations was RMB0.1 million (US$0.01 million), compared to RMB3.3 million in the same quarter of last year.

Non-GAAP income from operations was RMB3.0 million (US$0.4 million), compared to RMB8.5 million in the same quarter of last year. As a percentage of net revenues, non-GAAP income from operations accounted for 0.1% this quarter as compared to 0.2% in the same quarter of last year.

Net loss was RMB7.3 million (US$1.0 million), compared to RMB2.1 million in the same quarter of last year. As a percentage of net revenues, net loss accounted for 0.2% this quarter as compared to 0.1% in the same quarter of last year.

Non-GAAP net loss (4) was RMB4.4 million (US$0.6 million), compared to non-GAAP net income of RMB3.1 million in the same quarter of last year.

Net loss attributable to ordinary shareholders was RMB19.5 million (US$2.7 million), compared to RMB14.0 million in the same quarter of last year. As a percentage of net revenues, net loss attributable to ordinary shareholders accounted for 0.6% this quarter as compared to 0.4% in the same quarter of last year.

Non-GAAP net loss attributable to ordinary shareholders (5) was RMB16.7 million (US$2.3 million), compared to RMB8.8 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net loss attributable to ordinary shareholders accounted for 0.5% this quarter as compared to 0.3% in the same quarter of last year.

(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 second quarter 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.

As of June 30, 2025, the Company held cash and cash equivalents, restricted cash and short-term investments totaling RMB513.1 million (US$71.6 million), compared to RMB518.3 million as of December 31, 2024. To date, amount of RMB1.1 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 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. A portion of the redemption has been paid upon signing of these agreements. 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 Measures

In 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 RMB7.1636 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 June 30, 2025.

Forward-Looking Statements

This 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. ("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@111.com.cn

Phone: +86-021-2053 6666 (China)

 
                               111, Inc. 
            UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS 
          (In thousands, except for share and per share data) 
                                     As of                As of 
                               -----------------  ---------------------- 
                               December 31, 2024      June 30, 2025 
                               -----------------  ---------------------- 
                                      RMB             RMB         US$ 
ASSETS 
Current assets: 
Cash and cash equivalents                462,289      447,474     62,465 
Restricted cash                           56,043       65,624      9,161 
Short-term investments                         -            -          - 
Accounts receivable, net                 413,101      265,345     37,041 
Notes receivable                          78,827       77,768     10,856 
Inventories                            1,387,403    1,278,235    178,435 
Prepayments and other current 
 assets                                  251,994      231,801     32,358 
                               -----------------  -----------  --------- 
Total current assets                   2,649,657    2,366,247    330,316 
Property and equipment, net               32,903       28,120      3,925 
Intangible assets, net                     1,437        1,124        157 
Long-term investments                          -            -          - 
Other non-current assets                  14,682       11,661      1,628 
Operating lease right-of-use 
 asset                                    89,071       69,337      9,679 
                               -----------------  -----------  --------- 
Total assets                           2,787,750    2,476,489    345,705 
                               =================  ===========  ========= 
 
LIABILITIES, MEZZANINE EQUITY 
AND SHAREHOLDERS' DEFICIT 
Current liabilities: 
Short-term borrowings                    160,981      170,000     23,731 
Accounts payable                       1,721,425    1,554,239    216,963 
Accrued expense and other 
 current liabilities                     460,173      377,749     52,734 
                               -----------------  -----------  --------- 
Total current liabilities              2,342,579    2,101,988    293,428 
Long-term operating lease 
 liabilities                              55,448       42,925      5,992 
                               -----------------  -----------  --------- 
Other non-current liabilities              8,961        8,678      1,211 
                               -----------------  -----------  --------- 
Total liabilities                      2,406,988    2,153,591    300,631 
                               -----------------  -----------  --------- 
 
MEZZANINE EQUITY 
Redeemable non-controlling 
 interests                             1,038,914    1,014,146    141,569 
                               -----------------  -----------  --------- 
 
SHAREHOLDERS' DEFICIT 
Ordinary shares Class A                       33           33          5 
Ordinary shares Class B                       25           25          3 
Treasury shares                          (5,887)      (5,887)      (822) 
Additional paid-in capital             3,172,820    3,180,528    443,985 
Accumulated deficit                  (3,883,992)  (3,921,190)  (547,377) 
Accumulated other 
 comprehensive income                     74,357       73,422     10,249 
                               -----------------  -----------  --------- 
Total shareholders' deficit            (642,644)    (673,069)   (93,957) 
Non-controlling interest                (15,508)     (18,179)    (2,538) 
                               -----------------  -----------  --------- 
Total deficit                          (658,152)    (691,248)   (96,495) 
                               -----------------  -----------  --------- 
Total liabilities, mezzanine 
 equity and deficit                    2,787,750    2,476,489    345,705 
                               =================  ===========  ========= 
 
 
                                              111, Inc. 
                UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS 
                        (In thousands, except for share and per share data) 
                      For the three months ended June 30,    For the six months ended June 30, 
                      -------------------------------------  ------------------------------------- 
                         2024                2025               2024                2025 
                      -----------  ------------------------  -----------  ------------------------ 
                          RMB          RMB          US$          RMB          RMB          US$ 
                      -----------  -----------  -----------  -----------  -----------  ----------- 
Net revenues            3,424,370    3,205,760      447,507    6,952,799    6,735,039      940,176 
                      -----------  -----------  -----------  -----------  -----------  ----------- 
Operating costs and 
expenses: 
 Cost of products 
  sold                (3,216,772)  (3,020,380)    (421,629)  (6,536,668)  (6,354,564)    (887,063) 
 Fulfillment 
  expenses               (88,059)     (90,202)     (12,592)    (176,582)    (183,768)     (25,653) 
 Selling and 
  marketing 
  expenses               (80,410)     (66,162)      (9,236)    (160,770)    (134,070)     (18,715) 
 General and 
  administrative 
  expenses               (17,306)     (17,402)      (2,429)     (36,380)     (35,743)      (4,990) 
 Technology expenses     (18,367)     (14,869)      (2,076)     (36,676)     (30,328)      (4,234) 
 Other operating 
  (expenses) income, 
  net                       (118)        3,350          468        1,339        3,674          513 
                      -----------  -----------  -----------  -----------  -----------  ----------- 
Total Operating 
 costs and expenses   (3,421,032)  (3,205,665)    (447,494)  (6,945,737)  (6,734,799)    (940,142) 
                      -----------  -----------  -----------  -----------  -----------  ----------- 
Income from 
 operations                 3,338           95           13        7,062          240           34 
 Interest income            2,075        1,017          142        4,041        2,271          317 
 Interest expense         (7,275)      (8,458)      (1,181)     (15,257)     (17,190)      (2,400) 
 Foreign exchange 
  (loss) gain               (383)           67            9        (602)          109           15 
 Other income, net            200           11            2           77           11            2 
                      -----------  -----------  -----------  -----------  -----------  ----------- 
Loss before income 
 taxes                    (2,045)      (7,268)      (1,015)      (4,679)     (14,559)      (2,032) 
 Income tax expense          (37)            3            0         (88)         (13)          (2) 
                      -----------  -----------  -----------  -----------  -----------  ----------- 
Net loss                  (2,082)      (7,265)      (1,015)      (4,767)     (14,572)      (2,034) 
Net loss 
 attributable to 
 non-controlling 
 interest                 (1,106)         (52)          (7)      (1,279)        1,693          236 
Net loss 
 attributable to 
 redeemable 
 non-controlling 
 interest                     441          445           62          730          890          124 
Adjustment 
 attributable to 
 redeemable 
 non-controlling 
 interest                (11,273)     (12,677)      (1,770)     (22,479)     (25,209)      (3,519) 
                      -----------  -----------  -----------  -----------  -----------  ----------- 
Net loss 
 attributable to 
 ordinary 
 shareholders            (14,020)     (19,549)      (2,730)     (27,795)     (37,198)      (5,193) 
                      -----------  -----------  -----------  -----------  -----------  ----------- 
Other comprehensive 
loss 
 Unrealized gains of 
  available-for-sale 
  securities,               (312)            -            -        (346)            -            - 
 Realized gains of 
  available-for-sale 
  debt securities             312            -            -          489            -            - 
 Foreign currency 
  translation 
  adjustments                 509        (855)        (119)        1,129        (935)        (131) 
                      -----------  -----------  -----------  -----------  -----------  ----------- 
Comprehensive loss       (13,511)     (20,404)      (2,849)     (26,523)     (38,133)      (5,324) 
                      ===========  ===========  ===========  ===========  ===========  =========== 
Loss per ADS: 
 Basic and diluted         (1.60)       (2.20)       (0.40)       (3.20)       (4.20)       (0.60) 
                      ===========  ===========  ===========  ===========  ===========  =========== 
Weighted average 
number of shares 
used in computation 
of loss per share 
 Basic and diluted    171,414,144  173,569,631  173,569,631  171,317,558  173,345,848  173,345,848 
                      ===========  ===========  ===========  ===========  ===========  =========== 
 
 
                                 111, Inc. 
              UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 
                               (In thousands) 
                For the three months ended   For the six months ended 
                         June 30,            June 30, 
               ----------------------------  ---------------------------- 
                 2024           2025           2024           2025 
               ---------  -----------------  ---------  ----------------- 
                  RMB       RMB       US$       RMB       RMB       US$ 
 
Net cash 
 provided by 
 (used in) 
 operating 
 activities       93,260  (61,410)  (8,573)    201,698    51,189    7,146 
Net cash used 
 in investing 
 activities     (79,728)     (223)     (31)   (49,986)   (1,311)    (183) 
Net cash 
 (used in) 
 provided by 
 financing 
 activities    (104,472)    18,673    2,607  (259,943)  (54,308)  (7,581) 
Effect of 
 exchange 
 rate changes 
 on cash and 
 cash 
 equivalents, 
 and 
 restricted 
 cash              (865)     (774)    (108)        207     (804)    (112) 
               ---------  --------  -------  ---------  --------  ------- 
Net decrease 
 in cash and 
 cash 
 equivalents, 
 and 
 restricted 
 cash           (91,805)  (43,734)  (6,105)  (108,024)   (5,234)    (730) 
               ---------  --------  -------  ---------  --------  ------- 
Cash and cash 
 equivalents, 
 and 
 restricted 
 cash at the 
 beginning of 
 the period      607,329   556,832   77,731    623,548   518,332   72,356 
               ---------  --------  -------  ---------  --------  ------- 
Cash and cash 
 equivalents, 
 and 
 restricted 
 cash at the 
 end of the 
 period          515,524   513,098   71,626    515,524   513,098   71,626 
               =========  ========  =======  =========  ========  ======= 
 
 
                                 111, Inc. 
            Unaudited Reconciliation of GAAP and Non-GAAP Results 
            (In thousands, except for share and per share data) 
                For the three months ended   For the six months ended 
                         June 30,            June 30, 
                ---------------------------  --------------------------- 
                  2024          2025           2024          2025 
                --------  -----------------  --------  ----------------- 
                  RMB       RMB       US$      RMB       RMB       US$ 
                --------  --------  -------  --------  --------  ------- 
 
Income from 
 operations        3,338        95       13     7,062       240       34 
Add: 
 Share-based 
 compensation 
 expenses          5,195     2,867      400    10,366     6,982      975 
                --------  --------  -------  --------  --------  ------- 
Non-GAAP 
 income from 
 operations        8,533     2,962      413    17,428     7,222    1,009 
                ========  ========  =======  ========  ========  ======= 
 
Net loss         (2,082)   (7,265)  (1,015)   (4,767)  (14,572)  (2,034) 
Add: 
 Share-based 
 compensation 
 expenses, net 
 of tax            5,195     2,867      400    10,366     6,982      975 
Non-GAAP net 
 income 
 (loss)            3,113   (4,398)    (615)     5,599   (7,590)  (1,059) 
 
Net loss 
 attributable 
 to ordinary 
 shareholders   (14,020)  (19,549)  (2,730)  (27,795)  (37,198)  (5,193) 
Add: 
 Share-based 
 compensation 
 expenses, net 
 of tax            5,195     2,867      400    10,366     6,982      975 
                --------  --------  -------  --------  --------  ------- 
Non-GAAP net 
 loss 
 attributable 
 to ordinary 
 shareholders    (8,825)  (16,682)  (2,330)  (17,429)  (30,216)  (4,218) 
                ========  ========  =======  ========  ========  ======= 
 
Loss per 
 ADS(6) : 
 Basic and 
 diluted          (1.60)    (2.20)   (0.40)    (3.20)    (4.20)   (0.60) 
Add: 
 Share-based 
 compensation 
 expenses per 
 ADS(6) , net 
 of tax             0.60      0.40     0.00      1.20      0.80     0.20 
                --------  --------  -------  --------  --------  ------- 
Non-GAAP loss 
 per ADS(6)       (1.00)    (1.80)   (0.40)    (2.00)    (3.40)   (0.40) 
                ========  ========  =======  ========  ========  ======= 
 
(6) Every one ADS represents twenty Class A ordinary shares. 
 

View original content:https://www.prnewswire.com/news-releases/111-inc-announces-second-quarter-2025-unaudited-financial-results-302558741.html

SOURCE 111, Inc.

Asian equities traded in the US as American depositary receipts rose Thursday morning with the S&P Asia 50 ADR Index advancing 0.9% to 2,370.8.

From North Asia, the gainers were led by computer hardware maker Canaan and brand platform Baozun , which climbed 9.4% and 6.5% respectively. They were followed by polysilicon manufacturer Daqo New Energy and internet and data center services provider VNET Group , which increased 5.2% and 4.4% respectively.

The decliners from North Asia were led by used-car marketplace Uxin and utilities company Korea Electric Power , which fell 5.1% and 4.8% respectively. They were followed by mobile health-care platform 111 and mobile big-data provider Aurora Mobile , which dropped 2.9% and 2.8% respectively.

From South Asia, the gainers were led by IT firm Wipro and telecommunications operator Telekomunikasi Indonesia , which rose 4.7% and 2.5% respectively. They were followed by tech conglomerate Sea and financial services company HDFC Bank , which gained 0.8% and 0.5% respectively.

The only decliners from South Asia were financial services company ICICI Bank and IT firm Infosys , which eased 0.6% and 0.4% respectively.