BEIJING (dpa-AFX) - 111, Inc. (YI), a Chinese digital healthcare platform, reported Thursday narrower net loss in its fourth quarter amid weak revenues mainly reflecting unfavorable macroeconomic environment.
For the quarter, net loss attributable to ordinary shareholders was RMB19.84 million or $2.72 million, compared to prior year's net loss of RMB210.37 million.
Loss per ADS was RMB 0.22 or $0.04, compared to loss of RMB 2.48 per ADS a year earlier.
Adjusted attributable net loss was RMB14.8 million or $2.0 million, compared to loss of RMB59.0 million in the same quarter of 2023.
Net revenues were RMB3.85 billion or $527.14 million, down 6.3 percent from RMB 4.11 billion last year.
Looking ahead, Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, said, 'While challenges remain, we believe the most difficult period is now behind us. Looking ahead into 2025, we remain confident in the long-term growth opportunities driven by the digitalization of healthcare, the transition of pharmaceutical sales toward retail pharmacies, and the rising healthcare needs of China's aging population. We will continue to invest in AI and digital technologies to further cement our competitive position, elevate operational efficiency, and empower the entire healthcare value chain.'
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