111(US:YI) Prnewswire·2024-09-13 11:30Core Viewpoint - 111, Inc. is actively engaging in share repurchases by its co-founders, indicating confidence in the company's intrinsic value and future growth potential [1][2]. Financial Performance - The company reported operational profitability for the second consecutive quarter, with income from operations reaching RMB3.3 million (US$0.5 million) for Q2 2024, a significant improvement from a loss of RMB41.4 million in Q2 2023 [2]. - Non-GAAP income from operations was RMB8.5 million (US$1.2 million), up from a non-GAAP loss of RMB17.2 million in the same quarter of the previous year [2]. - Positive operating cash flow was achieved for the second consecutive quarter, reinforcing financial stability [2]. Strategic Initiatives - 111, Inc. acquired four new patents, increasing its total to 28, which enhances its competitive advantages and supports long-term growth prospects [2]. - The company's technological advancements are pivotal in driving the digital transformation of the pharmaceutical industry, aligning with its strategic vision to reshape the healthcare value chain [2]. Company Overview - 111, Inc. is a tech-enabled healthcare platform in China, providing better access to pharmaceutical products and healthcare services through its online and offline networks [4]. - The company operates an online retail pharmacy, 1 Pharmacy, and an internet hospital, 1 Clinic, offering cost-effective online consultations and electronic prescriptions [4]. - 111 also provides a comprehensive drug commercialization platform, including digital marketing and data analytics services for strategic partners [4].