Quarterly ResultJun 4, 2026, 07:01 AM
111, Inc. Q1 Revenue Down 33.1% to $342.4M Amid Strategic Shift
AI Summary
111, Inc. announced its first quarter 2026 unaudited financial results, highlighting a strategic transition towards a more asset-light and operationally efficient business model. While net revenue decreased by 33.1% year-over-year to RMB2.4 billion, driven by divestitures and optimization of the fulfillment network, key growth areas like promotional products revenue surged by 70.2% and total marketplace service revenue grew by 24.7%. The company reported a net loss of RMB26.8 million, an increase from the prior year's loss. Management emphasized the ongoing integration of AI capabilities to enhance operational efficiency and profitability.
Key Highlights
- Net revenue decreased 33.1% year-over-year to RMB2.4 billion (US$342.4 million) due to strategic transition.
- Net revenue from promotional products increased 70.2% year-over-year to RMB28.9 million.
- Total marketplace service revenue increased 24.7% year-over-year.
- Fulfillment expenses decreased 34.6% year-over-year to RMB61.2 million.
- Net loss was RMB26.8 million (US$3.9 million), compared to RMB7.3 million in the prior year quarter.
- Cash and cash equivalents, restricted cash, and short-term investments totaled RMB396.6 million (US$57.5 million) as of March 31, 2026.
Price Impact
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