111, Inc. (NASDAQ: YI) is a tech-enabled healthcare company focused on digitally connecting patients with medicines and healthcare services in China. Headquartered in Shanghai, the company was founded in 2010 and later became known as 111, Inc. after changes to its branding (formerly known as New Peak Group until April ...111, Inc. (NASDAQ: YI) is a tech-enabled healthcare company focused on digitally connecting patients with medicines and healthcare services in China. Headquartered in Shanghai, the company was founded in 2010 and later became known as 111, Inc. after changes to its branding (formerly known as New Peak Group until April 2018). Its business is structured around an integrated online-to-offline (O2O) ecosystem that links digital channels with physical healthcare fulfillment.
From a business-model perspective, 111, Inc. operates across both B2C and B2B/partner-facing lines (often described as a T2B2C approach). On the consumer side, the platform supports online purchase and access to a broad catalog of healthcare products, including prescription and over-the-counter drugs, traditional Chinese and Western medicines, dietary supplements, optical products, medical supplies/devices, personal care items, and infant-related essentials. In addition to selling products, the company provides value-added digital health services such as online consultation and electronic prescription fulfillment, aiming to reduce friction for patients who need medication guidance and compliant dispensing.
On the partner side, the company supports pharmacy and wholesale clients through an online enablement and marketplace layer. This includes managing an online marketplace that allows third-party vendors to supply pharmacies and supporting “1 Pharmacy” style initiatives for pharmacies and wholesalers. The partner services also extend to operational tools such as online loan application services and data/supply chain integration solutions—functions designed to improve procurement efficiency, availability, and day-to-day operations for healthcare merchants.
Operationally, 111, Inc. combines technology and logistics capabilities (e.g., warehousing, procurement, logistics, R&D/consulting, and IT/software support) with an on-the-ground pharmacy footprint. As of late 2021, it reported operating retail pharmacies under the “Yi Hao Pharmacy” brand across multiple regions. Key leadership includes co-founder Junling Liu, who has served as Chairman and CEO.
In terms of cost and supply-chain considerations typical for healthcare retail/distribution, the company’s performance depends heavily on inventory turns, fulfillment effectiveness, procurement terms, and the efficiency of its logistics and pharmacy operations. The platform’s emphasis on digital ordering and prescription-related services can also influence unit economics by improving demand capture and reducing service friction. Financial metrics provided in the source reflect a small revenue base relative to enterprise value and negative profitability measures in the latest snapshot, indicating that the business profile may be in a growth and investment phase where scale, partner adoption, and operational execution are crucial. Overall, the company’s strategic “wishes” are consistent with its stated focus: reshaping the healthcare value chain by increasing digital connectivity between patients, pharmacies, suppliers, and healthcare services while expanding service capability and partner coverage.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$12.2B
-15.2%
-15.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-16.8M
+74.0%
-529.8%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+5.8%
+0.1%
-8.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-0.1%
-659.3%
-406.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-0.1%
+69.3%
-641.7%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$114.7M
-53.7%
-460.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+0.9%
-45.4%
-524.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
-31.0%
+22.4%
-24.0%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.09x
-3.8%
-0.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
