111 (YI) has released an update.
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111, Inc. has achieved its first operational profitability in Q1 2024, with operating expenses dropping to 5.8% of revenues and a shift from a loss to an income of RMB3.7 million. Despite a slight decline in revenue compared to the previous year’s pandemic peak, the company’s focus on operational efficiency and digital empowerment in the healthcare sector has led to a more than threefold increase in non-GAAP income from operations. These financial milestones reflect 111’s commitment to reshaping the healthcare value chain and enhancing its market position through strategic partnerships and technological advancements.
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