BEIJING (dpa-AFX) - 111, Inc. (YI), a Chinese digital healthcare platform, reported Thursday wider net loss in its first quarter due to higher expenses, amid nearly flat net revenues.
In the quarter, net loss attributable to ordinary shareholders was RMB17.65 million or $2.43 million, compared to RMB13.78 million loss in the same quarter of last year.
Loss per ADS was RMB2.00 or $0.20, compared to loss of RMB1.60 per ADS a year earlier.
Adjusted net loss attributable to ordinary shareholders was RMB13.5 million or $1.9 million, compared to RMB8.6 million a year ago.
Income from operations was RMB0.1 million or $0.02 million, compared to RMB3.7 million last year. Adjusted income from operations was RMB4.3 million or $0.6 million, compared to RMB8.9 million a year ago.
Total operating expenses in the quarter grew 4.8 percent from last year to RMB195.0 million or $26.9 million.
Net revenues were RMB3.529 billion or $486.35 million, representing an increase of 0.02% from RMB3.528 billion in the same quarter of last year.
Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, said, 'Looking ahead, our strategy remains centered on leveraging technology to empower the healthcare value chain. We will continue to invest strategically in AI and digital solutions to enhance our supply chain, deepen customer engagement, and pioneer a seamless, one-stop shopping experience for our partners.'
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