BEIJING (dpa-AFX) - 111, Inc. (YI), a digital or tech-enabled healthcare platform, announced Wednesday that its net loss narrowed in the third quarter, amid slightly lower revenues.
For the third quarter, the net loss attributable to shareholders narrowed to RMB17.10 million or $2.44 million from loss of RMB93.3 million last year. The loss per ADS narrowed to RMB0.20 or $0.02 from a loss of RMB 1.10 a year ago.
The adjusted net loss attributable to ordinary shareholders narrowed to RMB12.35 million or $1.76 million from a loss of RMB66.89 million last year. The adjusted loss per ADS was RMB0.14 or $0.02, compared with a loss of RMB0.78 last year.
The income from operations was RMB2.37 million or $0.34 million, compared with a loss of RMB80.42 million last year.
The net revenue dropped to RMB3.60 billion or $513.1 million, from RMB3.67 billion last year.
Co-founder, Chairman, and Chief Executive Officer, Junling Liu said, 'Despite challenges, we are still confident in the long-term opportunities ahead. Our investments in AI and digital technologies are not only providing industry-leading efficiency and reshaping the healthcare value chain but also positioning us to capture significant shifts in the pharmaceutical industry.'
Tuesday, YI had closed 0.84% higher at $0.61 on the Nasdaq. In the extended trading, YI gained 1.65 further to $0.62.
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