111, Inc. (YI), a Chinese tech-enabled healthcare platform, on Thursday reported a wider net loss for the first quarter of fiscal 2026, hurt by decreased revenue, which reflects an ongoing strategic transition toward a more asset-light and operationally efficient business model.
For the three-month period to March 31, the company reported a net loss of RMB 37.041 million, compared with a net loss of RMB 17.649 million in the same period last year. Excluding items, loss was RMB 35.914 million, compared with a loss of RMB 13.534 million in the previous year.
Loss per ADS was RMB 4.20, compared with a loss of RMB 2 per ADS a year ago. Excluding items, loss stood at RMB 4 per ADS, as against the previous year's loss of RMB 1.60 per ADS.
Loss from operations was RMB 19.966 million, compared with a profit of RMB 0.145 million in the prior year. Revenue was RMB 2.361 billion, less than RMB 3.529 billion in the previous year.
Commenting on this decline in revenue, the company said: "This decline was primarily attributable to the company's ongoing strategic transition toward a more asset-light and operationally efficient business model. As part of this initiative, the company divested several underperforming subsidiaries last year and further optimized the fulfillment network through expanded warehouse partnership arrangements, enabling the transition to a warehouse partnership model-where recurring commission income will be generated rather than bearing operational and capital burdens."
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.