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111 ( (YI) ) just unveiled an update.
On April 9, 2026, 111, Inc. reported unaudited results for the fourth quarter and full year ended December 31, 2025, highlighting a pivotal shift to an asset-light warehouse partnership model that included divesting several subsidiaries and re-engaging them as exclusive fulfillment partners. While this strategic optimization weighed on net revenues, which fell 26.7% year-on-year in Q4 to RMB2.8 billion, it drove B2B gross margin expansion to 5.6%, cut operating expenses by over 20% in the quarter, and enabled a turnaround to non-GAAP operating profitability and positive operating cash flow in both Q4 and the full year.
For fiscal 2025, net revenues reached RMB12.6 billion and gross segment profit RMB723.4 million, with B2B gross margin edging up to 5.5% and total operating expenses declining 12.3% year-on-year, helping the company maintain non-GAAP operating profitability despite intentionally scaling back revenue. Operating cash flow for 2025 was a positive RMB119.1 million and cash, restricted cash and short-term investments rose 17.9% to RMB611.3 million by year-end, reflecting improved liquidity as 111 deepened its digital marketing capabilities—exemplified by sharp growth in flagship promoted product “Cravit”—and advanced the integration of AI across operations to support a more efficient, intelligent healthcare ecosystem for partners, pharmacies and other stakeholders.
The most recent analyst rating on (YI) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on 111 stock, see the YI Stock Forecast page.
Spark’s Take on YI Stock
According to Spark, TipRanks’ AI Analyst, YI is a Neutral.
The score is primarily held down by weak financial performance, including persistent losses, declining revenue, and negative equity. Technicals are a partial offset with strong trend strength above major moving averages and positive MACD, but elevated RSI suggests the move may be overextended. Valuation provides limited support because earnings are negative and dividend yield is unavailable.
To see Spark’s full report on YI stock, click here.
More about 111
111, Inc. is a Shanghai-based, tech-enabled healthcare platform listed on Nasdaq that focuses on digitally empowering the pharmaceutical value chain in China. The company operates a B2B model linking upstream drug manufacturers with downstream pharmacies, and is increasingly pivoting to an asset-light warehouse partnership and commission-based service structure to enhance margins and capital efficiency.
Average Trading Volume: 44,872
Technical Sentiment Signal: Hold
Current Market Cap: $56.01M
For an in-depth examination of YI stock, go to TipRanks’ Overview page.