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.
