This Online Healthcare Company Continues Its Winning Stride In Q2, Deal With Tencent A Cherry On The Cake
Portfolio Pulse from Lekha Gupta
111 Inc (NASDAQ:YI) reported a Q2 FY23 net revenue increase of 14.5% Y/Y to RMB3.5 billion ($479.6 million). B2B revenues grew 15.5% Y/Y, while B2C revenue declined 13.4% Y/Y. The company's gross segment profit rose 8.3% Y/Y. Adjusted operating loss stood at RMB(17.2) million ($2.4 million), an improvement from RMB(52.8) million a year ago. The company also announced a strategic alliance with Tencent to expand online pharmaceutical services.
August 24, 2023 | 9:41 am
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111 Inc reported a strong Q2 FY23 with increased net revenue and reduced operating loss. The strategic alliance with Tencent could further boost its online pharmaceutical services.
111 Inc's increased net revenue and reduced operating loss indicate a positive financial performance. The strategic alliance with Tencent, a major tech company, could enhance its online pharmaceutical services, potentially leading to increased revenues in the future.
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