Earnings ·
111, Inc. reported unaudited financial results for the second quarter ended June 30, 2026
YI111, Inc.
111, Inc. reported unaudited financial results for the second quarter ended June 30, 2026. Net revenue decreased 28.3% year-over-year to RMB2.3 billion (US$339.0 million), driven by a strategic transition from an asset-heavy model that involved divesting underperforming subsidiaries. Promotional product net revenue surged 121% to RMB60.7 million, while total marketplace service revenue grew 18.2% in the first half of 2026. The company incurred substantial severance costs due to workforce streamlining enabled by AI agent adoption. Total operating expenses fell 16.1% to RMB155.5 million, and fulfillment expenses declined 29.5% to RMB63.6 million. Net loss widened to RMB31.7 million (US$4.7 million) from RMB7.3 million in the prior-year quarter. As of June 30, 2026, cash and short-term investments totaled US$56.2 million. Investors representing 63.8% of outstanding principal agreed to restructure redemption obligations for its 1 Pharmacy Technology subsidiary. 111, Inc. operates as a tech-enabled healthcare platform in China, providing online retail pharmacy services, internet hospital consultations, and B2B pharmaceutical sourcing.