111, Inc. ( (YI) ) has released its Q4 earnings. Here is a breakdown of the information 111, Inc. presented to its investors.
111, Inc. is a tech-enabled healthcare platform company based in China, focused on transforming the healthcare value chain through digital empowerment of the upstream and downstream sectors. The company operates an online retail pharmacy, virtual pharmacy network, and internet hospital, providing pharmaceutical products and healthcare services.
In its latest earnings report, 111, Inc. announced its first-ever annual operating profit and positive operating cash flow for the fiscal year 2024, despite facing challenges from an unfavorable macroeconomic environment and healthcare reforms. The company reported a significant improvement in its bottom line, with operating expenses as a percentage of revenues decreasing both annually and in the fourth quarter.
Key financial highlights include a net revenue of RMB14.4 billion for the fiscal year, a decrease of 3.7% from the previous year, and a gross segment profit of RMB829.2 million. The company achieved an income from operations of RMB2.1 million, a turnaround from a loss of RMB350.1 million in 2023. Additionally, operating expenses were reduced by 31% year-over-year, contributing to improved operational efficiency.
The company’s strategic focus on operational efficiency and supply chain management has led to cost optimization and infrastructure investments. 111, Inc. has also enhanced its logistics capabilities through its Kunpeng Network and invested in AI-driven solutions to improve customer engagement and operational efficiency.
Looking ahead, 111, Inc. remains optimistic about long-term growth opportunities driven by healthcare digitalization and the rising demand from China’s aging population. The company plans to continue investing in AI and digital technologies to strengthen its competitive position and drive sustainable growth.