111 reports RMB2.3 billion Q2 revenue

• 111 (NASDAQ:YI) reported second quarter 2026 net revenue of RMB2.3 billion, down 28.3% year-over-year.
• The company reported a RMB31.7 million net loss as operating expenses declined.
• 111 said it is shifting toward a more asset-light, platform-oriented model while exiting underperforming subsidiaries.

111 (NASDAQ:YI) reported second quarter 2026 net revenue of RMB2.3 billion, down 28.3% year-over-year, as the company continued its shift toward an asset-light, platform-oriented business model.

The revenue decline came as 111 adjusted its operating structure, although total marketplace service revenue for the first half of 2026 increased 18.2% year-over-year compared with the previous period.

111 reported that promotional product revenue increased to RMB60.7 million, up 121% year-over-year, while gross profit from promotional products also increased 120%.

The company reduced fulfillment expenses to RMB63.6 million, down 29.5% year-over-year, representing 2.76% of net revenue, while total operating expenses declined 16.1% to RMB155.5 million.

111 operates a healthcare-focused digital platform connecting businesses and consumers through online pharmaceutical and healthcare product services, while the company has been restructuring parts of its operations.

The company reported gross segment profit of RMB132.3 million, down 28.6% year-over-year, alongside a loss from operations of RMB23.2 million and a net loss of RMB31.7 million, while cash, restricted cash and short-term investments totaled RMB381.1 million as of June 30, 2026.