Exhibit 99.1 111, Inc. Announces First Quarter 2023 Unaudited Financial Results SHANGHAI, June 15, 2023 /PRNewswire/ – 111, Inc. ("111" or the "Company") (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to digitally connecting patients with medicine and healthcare services in China, today announced its unaudited financial results for the first quarter ended March 31, 2023. First Quarter 2023 Highlights · Net revenues were RMB3.7 billion (US$538.3 million), representing an increase ...

Financial Contributions and Dividends - 111, Inc. has made cumulative capital contributions of US$342.5 million to its PRC subsidiaries, primarily for business operations[20]. - In 2019, 2020, and 2021, net payments made as working capital support to former VIEs were RMB195.1 million, RMB532.3 million, and RMB760.3 million, respectively[19]. - The payment of service fees from former VIEs to 1 Pharmacy Technology amounted to RMB112.6 million in 2020 and RMB728.5 million in 2021[21]. - 111, Inc. has not declared or paid any cash dividends to investors, nor does it plan to do so in the near future[24]. - For the years ended December 31, 2020, 2021, and 2022, dividends received from subsidiaries amounted to nil[23]. - The PRC subsidiaries are required to set aside at least 10% of after-tax profits for statutory reserve funds, potentially limiting available distributable profits[29]. - Future profitability and ability to pay dividends depend on the PRC subsidiaries' capacity to generate distributable profits[29]. - The PRC government may impose restrictions on foreign currency access for current and capital account transactions, potentially affecting the company's ability to pay dividends in foreign currencies[30]. Regulatory Environment and Compliance - The inability of the PCAOB to inspect auditors in mainland China and Hong Kong could lead to trading restrictions under the Holding Foreign Companies Accountable Act[17]. - 111, Inc. operates through a Cayman Islands holding structure, which poses unique risks related to regulatory changes in China[15]. - The company terminated its former VIE structure in February 2022, gaining direct equity ownership in its subsidiaries[14]. - The Revised Cybersecurity Review Measures require network platform operators with over one million users to apply for a cybersecurity review before foreign public listings, with no clear guidance on applicability to already listed companies[32]. - The Overseas Offering and Listing Measures, effective March 31, 2023, establish a filing-based regime for overseas offerings by PRC domestic companies, with non-compliance potentially leading to fines and prohibitions from the securities market[33]. - The company is not required to obtain prior approval for historical offshore offerings completed before the Overseas Offering and Listing Measures but must comply with filing procedures for future securities offerings[34]. - There are substantial uncertainties regarding the interpretation and implementation of the new Overseas Offering and Listing Measures, which could hinder the company's ability to offer securities[35]. - The PRC government has indicated an intent to increase oversight over overseas offerings and foreign investments in China-based issuers, potentially impacting the company's operations[36]. - The company is subject to extensive and evolving regulatory requirements in the PRC, and non-compliance may materially affect its business and prospects[70]. - The company must obtain and maintain necessary approvals and licenses for its operations, with potential penalties for non-compliance[97]. - The company is implementing quality control standards to manage ecosystem participants, but there is no assurance that these measures will be sufficient[92]. - The company faces potential regulatory actions or sanctions from PRC authorities if it fails to comply with new laws and regulations regarding overseas securities offerings[202]. - The PRC government has the authority to impose fines, revoke business licenses, or require the discontinuation of operations if the company is found to be operating without the necessary approvals[204]. Operational Risks and Challenges - The company has incurred operating losses in the past and may struggle to achieve or maintain profitability in the future[56]. - The company anticipates increased operating costs and expenses as it expands, which may hinder its ability to achieve profitability if revenue growth does not outpace these costs[82]. - The competitive landscape in the PRC general health and wellness market is intense, with key competitors having greater resources and market coverage[75]. - The company may face challenges in managing growth and implementing business strategies effectively, which could adversely impact its operations[78]. - The company is executing growth initiatives, such as the "1 Health" project, aimed at improving business efficiency through digital technology, but the anticipated benefits may not materialize as expected[80]. - The company faces significant risks related to data protection and cybersecurity, which may lead to increased operational costs and potential legal liabilities[85]. - The company has launched an online wholesale business and various value-added services, which may increase operational complexity and strain resources[79]. - The company relies on dividends and distributions from its PRC subsidiaries to fund cash and financing requirements, and limitations on these payments could adversely affect its operations[66]. - The company faces significant risks related to regulatory changes in China, which could materially affect operations and the value of securities[51]. - The company is vulnerable to cybersecurity breaches, which could result in significant legal and financial liabilities, harming its reputation and revenue[165]. Shareholder Structure and Control - Yao Wang Corporation Limited holds 86.23% of the company's shares, indicating strong control by a Hong Kong subsidiary[44]. - Tianjin Gangling Business Management Partnership (LP) represents approximately 1.81% and serves as an employee equity incentive platform for 1 Pharmacy Technology[47]. - The company has a diverse shareholder base with multiple unaffiliated third-party investors, including Shanghai Shenli Business Management Partnership (LP) at approximately 0.76%[48]. - The shareholder structure includes several partnerships formed by employees, highlighting a commitment to incentivizing key personnel[47]. Market and Economic Conditions - Changes in China's economic, political, or social conditions could materially affect the company's business and results of operations[189]. - The Chinese government's control over economic growth and resource allocation may impact the company's financial condition and operations[190]. - The PRC government may further change the exchange rate system, which adds uncertainty to future currency valuations[212]. - The value of the Renminbi against the U.S. dollar has fluctuated significantly, which may continue to impact the company's financial results and operations[212]. - The company may face limitations on its ability to use proceeds from its initial public offering due to regulatory constraints on capital contributions to PRC subsidiaries[210]. Customer Experience and Product Management - The company's business heavily relies on the acceptance of its services and products by pharmacy customers and consumers, which is influenced by factors such as accuracy, efficacy, turnaround time, and cost-effectiveness[125]. - Customer experience is critical for the company, depending on the quality of care, timely delivery, and after-sales services, which are affected by third-party providers[126]. - The company operates a customer service center, and any failure in service quality or long waiting times could harm brand loyalty and market share[127]. - The in-house medical team and external doctors must provide adequate services; failure to do so could lead to significant liability claims and affect the company's reputation[128]. - The company faces risks related to marketplace sellers who may not control product quality or timely delivery, potentially damaging the brand's reputation[130]. - The company accepts various payment methods, which exposes it to risks related to fraud and payment processing, potentially affecting financial results[136]. - The company's return and exchange policies may lead to additional costs and affect customer satisfaction, potentially impacting revenue[169]. - Higher product return rates could materially and adversely affect the company's financial condition and results of operations[170]. - The company has established a thirty-day product return policy, but increased return rates could negatively impact revenues and costs, leading to potential inventory and working capital issues[171]. Legal and Liability Risks - The company is exposed to product liability claims, which could result in significant financial damages if products are deemed unsafe or ineffective[98]. - The company may become involved in litigation or legal disputes that could distract management and negatively impact its reputation and financial condition[158]. - The company has obtained insurance for certain risks, but may not have adequate coverage for all potential losses, which could adversely affect its financial condition[159]. - The company faces intense competition for skilled employees, which may hinder its ability to attract and retain necessary talent, potentially increasing operating expenses[154]. - The company has faced disciplinary warnings and administrative penalties in the past due to non-compliance incidents related to prescription drug sales[96]. Inventory and Supply Chain Management - The company recorded net inventory write-downs of RMB24.2 million, RMB46.0 million, and RMB28.5 million (US$4.1 million) for the years 2020, 2021, and 2022, respectively[107]. - The company faces risks related to maintaining optimal inventory levels, which could lead to increased operating costs or unfulfilled customer orders[105]. - The company relies on third-party logistics for order fulfillment, and failures in these services could adversely affect its business and financial condition[110]. - Disruptions to fulfillment facilities could negatively impact sales and overall business operations[131]. Marketing and Brand Management - Marketing and brand promotion efforts are significant, but evolving marketing tools in the PRC internet healthcare market may require the company to enhance its approaches to maintain market share[173]. - The company is subject to strict regulations regarding online advertising of drugs and medical devices, which could result in penalties for non-compliance[174]. - The COVID-19 pandemic has adversely affected business operations and financial performance, with ongoing uncertainties regarding its future impact[179].

111, Inc. (NASDAQ:YI) Q4 2022 Earnings Conference Call March 23, 2023 7:30 AM ET Company Participants Gang Yu - Co-Founder and Executive Chairman Junling Liu - Co-Founder, Chairman and Chief Executive Officer Luke Chen - Chief Financial Officer Harvey Wang - Chief Operating Officer Conference Call Participants Xipeng Feng - CICC Stephen Lee - Individual Investor Tom Craig - Cornerstone Investment Francis Yang - BSV Capital Operator Hello, everyone and thank you for joining 111’s Conference Call today. On th ...

Exhibit 99.1 111, Inc. Announces Fourth Quarter and Fiscal Year 2022 Financial Results SHANGHAI, March 23, 2023 /PRNewswire/ – 111, Inc. ("111" or the "Company") (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to digitally connecting patients with medicine and healthcare services in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022. Fourth Quarter 2022 Highlights · Net revenues were RMB4.1 billion (US$601.4 millio ...

111, Inc. (NASDAQ:YI) Q3 2022 Earnings Conference Call December 1, 2022 7:30 AM ET Company Participants Gang Yu - Co-Founder and Executive Chairman Junling Liu - Co-Founder, Chairman and Chief Executive Officer Luke Chen - Chief Financial Officer, Major Subsidiary Harvey Wang - Chief Operating Officer Monica Mu - Investor Relations Director Conference Call Participants Zoe Bian - Citi Operator Hello, everyone, and thank you for joining 111's Conference Call today. On the call today from the company are Dr. ...

Third Quarter 2022 Key Results & Management Commentary Q3 2022 revenue was flat at RMB 3.35 billion due to lockdowns, but gross profit grew 21.6% and Non-GAAP loss narrowed[1](index=1&type=chunk) - CEO Junling Liu stated that business was negatively impacted by COVID-19 lockdowns in various cities and provinces during the quarter[2](index=2&type=chunk) - The company achieved **positive operating cash flow** and overall cash flow for the quarter[2](index=2&type=chunk) Q3 2022 Key Financial Metrics | Metric | Q3 2022 | YoY Change | | :--- | :--- | :--- | | Net Revenues | RMB 3.35 billion | +0.1% | | Gross Segment Profit | - | +21.6% | | Total Operating Expenses as % of Net Revenues | 8.4% | from 10.2% | | Non-GAAP Loss from Operations as % of Net Revenues | 1.5% | from 4.1% | Segment Margin Improvement | Segment | Q3 2022 Margin (%) | Q3 2021 Margin (%) | | :--- | :--- | :--- | | Overall Gross Segment Margin | 6.0% | 5.0% | | B2B Segment Margin | 5.5% | 4.4% | | B2C Segment Margin | 22.4% | 19.7% | [Detailed Financial Performance](index=2&type=section&id=Third%20Quarter%202022%20Financial%20Results) Q3 2022 financial performance details flat revenue, B2B growth, and significant expense reductions narrowing losses [Revenue and Segment Performance](index=2&type=section&id=Revenue%20and%20Segment%20Performance) Q3 2022 segment performance details B2B revenue growth and margin improvement, contrasting with B2C decline Q3 2022 Segment Performance | Metric | B2B Segment (RMB thousands) | YoY Change | B2C Segment (RMB thousands) | YoY Change | | :--- | :--- | :--- | :--- | :--- | | Net Revenue | 3,248,917 | +0.8% | 99,798 | -19.7% | | Segment Profit | 179,601 | +26.9% | 22,381 | -8.7% | | Segment Profit % | 5.5% | from 4.4% | 22.4% | from 19.7% | [Operating Costs and Expenses](index=2&type=section&id=Operating%20Costs%20and%20Expenses) Q3 2022 operating expenses show significant year-over-year reductions across all major categories, enhancing efficiency Q3 2022 Operating Expense Breakdown (YoY) | Expense Category | Amount (RMB million) | YoY Change | As % of Net Revenue | | :--- | :--- | :--- | :--- | | Fulfillment | 100.2 | -0.4% | 2.99% (from 3.01%) | | Selling & Marketing | 107.8 | -18.2% | 3.2% (from 3.9%) | | General & Administrative | 46.1 | -13.1% | 1.4% (from 1.6%) | | Technology | 29.5 | -47.3% | 0.9% (from 1.7%) | [Profitability and Cash Position](index=3&type=section&id=Profitability%20and%20Cash%20Position) Q3 2022 profitability details significant reductions in operating and net losses, alongside a strong cash position Q3 2022 Profitability Metrics (vs. Q3 2021) | Metric | Q3 2022 (RMB million) | Q3 2021 (RMB million) | | :--- | :--- | :--- | | Loss from Operations | (80.7) | (175.4) | | Non-GAAP Loss from Operations | (48.7) | (135.9) | | Net Loss | (86.2) | (165.8) | | Non-GAAP Net Loss | (54.3) | (126.3) | - As of September 30, 2022, the company held **RMB 865.9 million (US$121.7 million)** in cash, cash equivalents, restricted cash, and short-term investments[9](index=9&type=chunk) [Conference Call Information](index=3&type=section&id=Conference%20Call) The company will host an earnings conference call on December 1, 2022, at 7:30 AM U.S. Eastern Time, with registration and webcast details - The earnings conference call is scheduled for **7:30 AM U.S. Eastern Time** on Thursday, December 1, 2022 (8:30 PM Beijing Time)[10](index=10&type=chunk) - Participants must pre-register online for dial-in information, with a live and archived webcast also available[11](index=11&type=chunk) [Notes on Financial Reporting](index=4&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) This section explains the company's use of non-GAAP financial measures and includes a forward-looking statements disclaimer [Use of Non-GAAP Financial Measures](index=4&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) The company utilizes non-GAAP measures, excluding share-based compensation, for clearer core operating performance insights - The company uses non-GAAP measures, including non-GAAP loss from operations and non-GAAP net loss, to supplement its U.S. GAAP financial results[14](index=14&type=chunk) - These non-GAAP measures primarily exclude **share-based compensation expenses**, which management believes helps identify underlying business trends and provides a better basis for comparing performance[15](index=15&type=chunk) - The company acknowledges the limitations of non-GAAP measures and provides a reconciliation to comparable U.S. GAAP measures[17](index=17&type=chunk)[18](index=18&type=chunk) [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) This section notes the press release contains forward-looking statements, subject to various known and unknown risks - This press release contains forward-looking statements based on management's current expectations, subject to known and unknown risks, uncertainties, and other factors[20](index=20&type=chunk) [Unaudited Condensed Consolidated Financial Statements](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section presents unaudited financial statements as of September 30, 2022, detailing balance sheet, comprehensive loss, and positive operating cash flow [Consolidated Balance Sheets](index=7&type=section&id=UNAUDITED%20CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) This section presents unaudited consolidated balance sheets, highlighting key asset and liability figures as of September 30, 2022 Balance Sheet Highlights (as of Sep 30, 2022 vs. Dec 31, 2021) | Account | Sep 30, 2022 (RMB thousands) | Dec 31, 2021 (RMB thousands) | | :--- | :--- | :--- | | Cash, cash equivalents, restricted cash & short-term investments | 865,946 | 943,228 | | Total Current Assets | 2,791,956 | 2,801,737 | | Total Assets | 3,054,959 | 3,145,833 | | Total Current Liabilities | 2,258,122 | 2,129,978 | | Total Liabilities | 2,373,055 | 2,297,129 | [Consolidated Statements of Comprehensive Loss](index=8&type=section&id=UNAUDITED%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20LOSS) This section presents unaudited consolidated statements of comprehensive loss, detailing revenue, expenses, and net loss for Q3 2022 Statement of Comprehensive Loss (Q3 2022 vs Q3 2021) | Metric | For the three months ended Sep 30, 2022 (RMB thousands) | For the three months ended Sep 30, 2021 (RMB thousands) | | :--- | :--- | :--- | | Net Revenues | 3,348,715 | 3,346,227 | | Total Operating costs and expenses | (3,429,384) | (3,521,583) | | Loss from operations | (80,669) | (175,356) | | Net Loss | (86,240) | (165,780) | | Net Loss attributable to ordinary shareholders | (96,846) | (252,855) | | Loss per ADS (Basic and diluted) | (1.16) RMB | (3.04) RMB | [Consolidated Statements of Cash Flows](index=9&type=section&id=UNAUDITED%20CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) This section presents unaudited consolidated statements of cash flows, summarizing operating, investing, and financing activities for Q3 2022 Cash Flow Summary (Q3 2022 vs Q3 2021) | Activity | For the three months ended Sep 30, 2022 (RMB thousands) | For the three months ended Sep 30, 2021 (RMB thousands) | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | 11,815 | (107,181) | | Net cash provided by (used in) investing activities | 100,460 | (243,454) | | Net cash used in financing activities | (40,755) | (5,307) | | Net increase (decrease) in cash | 78,539 | (355,177) | [Reconciliation of GAAP and Non-GAAP Results](index=10&type=section&id=Unaudited%20Reconciliation%20of%20GAAP%20and%20Non-GAAP%20Results) This section provides a clear reconciliation of GAAP to non-GAAP financial results for Q3 2022, adjusting for share-based compensation Q3 2022 GAAP to Non-GAAP Reconciliation | Metric | GAAP Figure (RMB thousands) | Share-based Compensation (RMB thousands) | Non-GAAP Figure (RMB thousands) | | :--- | :--- | :--- | :--- | | Loss from operations | (80,669) | 31,938 | (48,731) | | Net Loss | (86,240) | 31,938 | (54,302) | | Net Loss attributable to ordinary shareholders | (96,846) | 31,938 | (64,908) | Q3 2022 Loss per ADS Reconciliation | Metric | GAAP Figure (RMB) | Share-based Compensation per ADS (RMB) | Non-GAAP Figure (RMB) | | :--- | :--- | :--- | :--- | | Loss per ADS | (1.16) | 0.38 | (0.78) |

111, Inc. (NASDAQ:YI) Q2 2022 Earnings Conference Call August 25, 2022 7:30 AM ET Company Participants Monica Mu - Investor Relations Director Gang Yu - Co-Founder and Executive Chairman Junling Liu - Co-Founder, Chairman and Chief Executive Officer Luke Chen - Chief Financial Officer, Major Subsidiary Harvey Wangg - Chief Operating Officer Conference Call Participants Xipeng Feng - CICC Zoe Bian - Citi Operator Hello everyone and thank you for joining 111's Conference Call today. On the call today from the ...

Financial Performance - Revenue reached RMB 3037145000 despite difficult circumstances[12, 44] - Gross profit significantly increased to RMB 192 million, a 43% year-over-year increase[12] - B2B segment revenue increased by 13% year-over-year to RMB 2935000000[16, 31] - B2B segment gross profit increased by 55% year-over-year to RMB 169 million[15, 16] - B2C segment revenue decreased by 20% year-over-year to RMB 103 million[31] - Non-GAAP operating loss as a percentage of net revenue decreased by 320 basis points year-over-year to 17%[17] Operational Efficiency - G&A expense as a percentage of net revenue decreased by 25% year-over-year[17] - Operating expense as a percentage of net revenue decreased from 107% in 2021 Q2 to 89% in 2022 Q2 including share-based compensation expenses[35] New Initiatives - 1 Health program connects digitally with over 67 million patients, with a 48% quarter-over-quarter increase in patients[18] - High Margin Product Program saw a 232% year-over-year increase in GMV[20] - Cloud Promotion Platform covered over 7000 pharmacies and 9000 pharmacy managers/pharmacists/salespersons[24]

111, Inc. (NASDAQ:YI) Q1 2022 Earnings Conference Call June 16, 2022 7:30 AM ET Company Participants Monica Mu - Investor Relations Director Junling Liu - Co-Founder, Chairman and Chief Executive Officer Luke Chen - Chief Financial Officer, Major Subsidiary Harvey Wangg - Chief Operating Officer Conference Call Participants Xipeng Feng - CICC Jessie Lu - HSBC Zoe Bian - Citi Operator Good day and thank you for standing by. Welcome to the First Quarter 2022 Earnings Conference Call. At this time all particip ...