111, Inc. (YI), a Chinese tech-enabled healthcare company, reported Thursday a narrower net loss for the fourth quarter, supported mainly by lower operating expenses as well as the absence of last year's share-based compensation expenses. The company reported adjusted profit from operations, compared to prior year's loss, despite lower revenue.
For the fourth quarter, net loss attributable to ordinary shareholders was RMB16.22 million or RMB 1.80 per ADS, compared to loss of RMB19.84 million or RMB2.20 per ADS in the same quarter of last year.
In dollar terms, attributable net loss was $2.32 million or $0.20 per ADS in the latest quarter.
The prior year's result was hurt mainly by share-based compensation expenses of RMB5.03 million or RMB0.60 per share.
The prior year's adjusted net loss was RMB14.81 million or RMB1.60 per ADS.
Other net income was RMB 4.039 million compared to a loss of RMB 0.479 million in the prior year
Adjusted profit from operations was RMB0.223 million or $0.032 million, compared to a loss of RMB 2.292 million a year earlier
Operating costs and expenses were RMB2.82 billion or $403.32 million, a decrease of 26.8% from last year.
Quarterly net revenues declined to RMB 2.82 billion or $403.28 million from RMB 3.85 billion a year before.
On the Nasdaq, shares of 111 closed Wednesday's regular trading 4.18 percent higher, at $6.48.
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