SHANGHAI, Aug. 25,
2022 /PRNewswire/ -- 111, Inc. ("111" or the
"Company") (NASDAQ: YI), a leading tech-enabled healthcare platform
company committed to digitally connecting patients with medicine
and healthcare services in China,
today announced its unaudited financial results for the second
quarter ended June 30, 2022.
Second Quarter 2022 Key Results
- Net revenues were RMB3.04
billion (US$453.4 million),
representing an increase of 0.4% year-over-year.
- Gross segment profit (1) increased by 42.6%
year-over-year, with B2B segment profit increasing by 55.1%
year-over-year.
- Total operating expenses were RMB271.7 million (US$40.6
million), compared to RMB323.4
million in the same quarter of last year. As a percentage of
net revenues, total operating expenses decreased to 8.9% from 10.7%
in the same quarter of last year, which reflected continuous
improvement in our operation efficiency.
- Non-GAAP loss from operations (2) was
RMB52.8 million (US$7.9 million), compared to RMB147.9million in the same quarter of last year.
As a percentage of net revenues, non-GAAP loss from operations
decreased to 1.7% from 4.9% in the same quarter of last year.
- 111 was appointed by the Shanghai government as a supply guarantee
enterprise and managed to open a special green channel, which
enabled our vehicle shipping supplies to Shanghai from our Kunshan fulfillment center
on a daily basis. We worked diligently and leveraged our online and
offline platform and smart supply chain to provide aids to
pandemic-hit regions. We also launched free online consultation
services, free prescription renewal services and other medical
services to the public. We have provided free online services for
customers in over 370 cities, and provided over 3,000 drugs
covering more than 400 diseases.
(1) Gross
segment profit represents net revenues less cost of goods
sold.
|
(2) Non-GAAP
loss from operations represents loss from operations excluding
share-based compensation expenses.
|
Mr. Junling Liu, Co-Founder,
Chairman, and Chief Executive Officer of 111, commented, "The
second quarter had been very tough for our business due to Covid
lockdowns in Shanghai and many
other cities. Our head office in Shanghai had to be closed and our operation in
7 regional fulfillment centers had been significantly disrupted for
2 full months. Despite all the challenges, we have
tried our best to work with local governments as well as logistics
companies to fulfill our customer/patient orders as these medicines
are badly needed. Our net revenue for second quarter
increased by 0.4% year-over-year to RMB 3.04
billion, while our gross segment profit increased by 42.6%
year-over-year. With Non-GAAP loss from operations being
narrowed to 1.7% of net revenues, we believe that we are heading in
the right path to profitability. We continued to solidfy our
network and relationship with upstream and downstream
partners."
Mr. Liu added, "our overall gross segment margin(3)
as a percentage of net revenues improved to 6.3% from 4.5% in
the same quarter of last year. B2B segment profit grew by 55.1%
year-over-year, and as a percentage of net revenues, B2B segment
margin improved to 5.8% from 3.8% in the same quarter of last year.
We also improved B2C segment margin to 22.5% from 20.2% in the same
quarter of last year. The gross segment profit improvement
was the results of all the efforts we have made to optimize our
selection portfolio and competitive pricing. We contined to
enhance our operation efficiency and total operating expenses as a
percentage of net revenues decreased to 8.9% in this quarter from
10.7% in the same quarter of last year. We expect this
momentum in improving operation efficiency to continue as we scale,
putting us on a clear path to profitability. As a result, non-GAAP
loss from operation as a percentage of net revenues decreased to
1.7% in this quarter from 4.9% in the same quarter of last
year."
"We have full confidence that we have the right strategy and
right team to steadily expand our revenue and gross segment
profit."
(3) Gross
segment margin represents gross segment profit divided by net
revenues.
|
Second Quarter 2022 Financial
Results
Net revenues were RMB3.04
billion (US$453.43million), representing an increase
of 0.4% from RMB3.02 billion in the same quarter of last
year.
(In thousands
RMB)
|
For the three months
ended June 30,
|
|
2021
|
|
2022
|
|
YoY
|
B2B Net
Revenue
|
|
|
|
|
|
Product
|
2,880,613
|
|
2,919,468
|
|
1.3 %
|
Service
|
16,150
|
|
15,155
|
|
-6.2 %
|
|
|
|
|
|
|
Sub-Total
|
2,896,763
|
|
2,934,623
|
|
1.3 %
|
|
|
|
|
|
|
Cost of Products
Sold(4)
|
2,787,871
|
|
2,765,701
|
|
-0.8 %
|
|
|
|
|
|
|
Segment
Profit
|
108,892
|
|
168,922
|
|
55.1 %
|
Segment Profit
%
|
3.8 %
|
|
5.8 %
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands
RMB)
|
For the three months
ended June 30,
|
|
2021
|
|
2022
|
|
YoY
|
B2C Net
Revenue
|
|
|
|
|
|
Product
|
122,351
|
|
95,879
|
|
-21.6 %
|
Service
|
4,968
|
|
6,643
|
|
33.7 %
|
|
|
|
|
|
|
Sub-Total
|
127,319
|
|
102,522
|
|
-19.5 %
|
|
|
|
|
|
|
Cost of Products
Sold(4)
|
101,635
|
|
79,477
|
|
-21.8 %
|
|
|
|
|
|
|
Segment
Profit
|
25,684
|
|
23,045
|
|
-10.3 %
|
Segment Profit
%
|
20.2 %
|
|
22.5 %
|
|
|
(4) For segment reporting purposes, purchase rebates are
allocated to the B2B segment and B2C segments primarily based on
the amount of cost of products sold for each segment. Cost of
products sold does not include other direct costs related to cost
of product sales such as shipping and handling expense, payroll and
benefits of logistic staff, logistic centers rental expenses and
depreciation expenses, which are recorded in the fulfillment
expenses. Cost of service revenue is recorded in the operating
expense.
Operating costs and expenses were RMB3.1
billion (US$465.3 million),
representing a decrease of 3.0% from RMB3.2 billion in
the same quarter of last year.
- Cost of products sold was RMB2.8 billion (US$424.8
million), representing a decrease of 1.5% from RMB2.9 billion in the same quarter of last
year.
- Fulfillment expenses were RMB87.9
million (US$13.1 million),
representing an increase of 4.5% from RMB84.1 million in
the same quarter of last year. Fulfillment expenses accounted for
2.9% of net revenues this quarter as compared to 2.8% in the same
quarter of last year. The increase was mainly attributable to
additional logistic costs incurred as a result of pandemic
lockdown.
- Selling and marketing expenses were RMB101.2
million (US$15.1 million),
representing a decrease of 24.2% from RMB133.5 million in
the same quarter of last year. We continued to leverage our sales
automation tools to enhance the sales effectiveness and streamline
the operation in the quarter. As a percentage of net
revenues, selling and marketing expenses further reduced to 3.3% in
the quarter from 4.4% in the same quarter of last year.
- General and administrative expenses were RMB38.5
million (US$5.7 million),
representing a decrease of 25.2% from RMB51.4 million in
the same quarter of last year, which was attributable to our
continuous optimization of supporting functions. As a percentage of
net revenues, general and administrative expense decreased to 1.3%
in the quarter from 1.7% in the same quarter of last year.
- Technology expenses were RMB33.7
million (US$5.0 million),
representing a decrease of 36.0% from RMB52.6 million in
the same quarter of last year. As a percentage of net revenues,
technology expenses accounted for 1.1% this quarter as compared to
1.7% in the same quarter of last year. We completed
major tech development programs last year and believe that current
spending reflected the appropriate amount of investment in
technology.
Loss from operations was RMB79.8
million (US$11.9 million),
compared to RMB188.8 million in the same quarter of last
year. As a percentage of net revenues, loss from operations
decreased to 2.6% in the quarter from 6.2% in the same quarter of
last year.
Non-GAAP loss from operations was RMB52.8
million (US$7.9 million),
compared to RMB147.9 million in the same quarter of last
year. As a percentage of net revenues, non-GAAP loss from
operations decreased to 1.7% in the quarter from 4.9% in same
quarter of last year.
Net loss was RMB84.8 million (US$12.7 million), compared to RMB184.0
million in the same quarter of last year. As a percentage of
net revenues, net loss decreased to 2.8% in the quarter from 6.1%
in same quarter of last year.
Non-GAAP net loss (5) was RMB57.8
million (US$8.6 million),
compared to RMB143.1 million in the same quarter of last
year. As a percentage of net revenues, non-GAAP net loss decreased
to 1.9% in the quarter from 4.7% in same quarter of last
year.
Net loss attributable to ordinary
shareholders was RMB95.3 million (US$14.2 million), compared
to RMB159.0 million in the same quarter of last
year. As a percentage of net revenues, net loss attributable to
ordinary shareholders decreased to 3.1% in the quarter from 5.3% in
same quarter of last year.
Non-GAAP net loss attributable to ordinary shareholders
(6) was RMB68.3
million (US$10.2 million),
compared to RMB118.0 million in the
same quarter of last year. As a percentage of net revenues,
non-GAAP net loss attributable to ordinary shareholders decreased
to 2.2% in the quarter from 3.9% in same quarter of last year.
(5) Non-GAAP
net loss represents net loss excluding share-based compensation
expenses, net of tax. Considering the impact of accretion of
redeemable non-controlling interest for the second quarter 2022
(which pertains to the Group's obligation to redeem equity
interests held by certain minority investors of a subsidiary of the
Company), non-GAAP net loss is used as a meaningful measurement of
the operation performance of the Company.
|
(6) Non-GAAP
net loss attributable to ordinary shareholders represents net loss
attributable to ordinary shareholders excluding share-based
compensation expenses, net of tax.
|
As of June 30, 2022, the
Company has cash and cash equivalents, restricted cash and
short-term investments of RMB885.6
million (US$132.2million),
compared to RMB943.2 million as of
December 31, 2021.
Conference Call
111's management team will host an earnings conference call at
7:30 AM U.S. Eastern Time on
Thursday, August 25, 2022
(7:30 PM Beijing Time on the same
day).
Details for the conference call are as follows:
Conference Topic: 111, Inc. Second Quarter 2022 Earnings
Conference Call Registration
Link:https://register.vevent.com/register/BIe34d5c00196d4d91902c11871b843104
All participants must use the link provided above to complete
the online registration process in advance of the conference call.
Upon registering, each participant will receive a set of
participant dial-in numbers, the Direct Event passcode, and a
unique Registration ID, which can be used to join the conference
call.
Please dial in 15 minutes before the call is scheduled to begin
and provide the Direct Event passcode and unique Registration ID
you have received upon registering to join the call.
A live and archived webcast of the conference call will be
available on the website at
https://edge.media-server.com/mmc/p/pivog2g2
Use of Non-GAAP Financial Measures
In evaluating the business, the Company considers and uses
non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss
attributable to ordinary shareholders, and non-GAAP loss per ADS,
as supplemental measures to review and assess its operating
performance. The Company defines non-GAAP loss from operations as
loss from operations excluding share-based compensation expenses.
The Company defines non-GAAP net loss as net loss excluding
share-based compensation expenses, net of tax. The Company defines
non-GAAP net loss attributable to ordinary shareholders as net loss
attributable to ordinary shareholders excluding share-based
compensation expenses, net of tax. The Company defines non-GAAP
loss per ADS as net loss attributable to ordinary shareholders per
ADS excluding share-based compensation expenses, net of tax per
ADS. The presentation of these non-GAAP financial measures is not
intended to be considered in isolation or as a substitute for the
financial information prepared and presented in accordance with
U.S. GAAP.
The Company believes that non-GAAP loss from operations,
non-GAAP net loss, non-GAAP net loss attributable to ordinary
shareholders, and non-GAAP loss per ADS help identify underlying
trends in its business that could otherwise be distorted by the
effect of certain expenses that it includes in loss from operations
and net loss. Share-based compensation expenses is a non-cash
expense that varies from period to period. As a result, management
excludes the items from its internal operating forecasts and
models. Management believes that the adjustments for share-based
compensation expenses provide investors with a reasonable basis to
measure the company's core operating performance, in a more
meaningful comparison with the performance of other companies. The
Company believes that non-GAAP loss from operations, non-GAAP net
loss, non-GAAP net loss attributable to ordinary shareholders, and
non-GAAP loss per ADS provide useful information about its
operating results, enhances the overall understanding of its past
performance and future prospects and allow for greater visibility
with respect to key metrics used by the management in their
financial and operational decision-making.
The non-GAAP financial measures are not defined under U.S. GAAP
and are not presented in accordance with U.S. GAAP. The non-GAAP
financial measures have limitations as analytical tools. One of the
key limitations of using non-GAAP loss from operations, non-GAAP
net loss, non-GAAP net loss attributable to ordinary shareholders,
or non-GAAP loss per ADS is that it does not reflect all items of
income and expense that affect the Company's operations. Further,
the non-GAAP financial measures may differ from the non-GAAP
information used by other companies, including peer companies, and
therefore their comparability may be limited.
The Company compensates for these limitations by reconciling the
non-GAAP financial measures to the most comparable U.S. GAAP
measures, all of which should be considered when evaluating the
Company's performance. The Company encourages you to review its
financial information in its entirety and not rely on a single
financial measure.
Reconciliation of the non-GAAP financial measures to the most
comparable U.S. GAAP measures is included at the end of this press
release.
Exchange Rate Information Statement
This announcement contains translations of certain RMB amounts
into U.S. dollars at specified rates solely for the convenience of
the reader. Unless otherwise noted, all translations from RMB to
U.S. dollars are made at a rate of RMB6.6981 to US$1.00, the exchange rate set forth in the H.10
statistical release of the Board of Governors of the Federal
Reserve System as of June 30,
2022.
Forward-Looking Statements
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Among other things, the
Business Outlook and quotations from management in this
announcement, as well as 111's strategic and operational plans,
contain forward-looking statements. 111 may also make written or
oral forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Such statements are based upon management's current
expectations and current market and operating conditions and relate
to events that involve known or unknown risks, uncertainties and
other factors, all of which are difficult to predict and many of
which are beyond the Company's control. Forward-looking statements
involve inherent risks, uncertainties and other factors that could
cause actual results to differ materially from those contained in
any such statements. Potential risks and uncertainties include, but
are not limited to, uncertainties as to the Company's ability
comply with extensive and evolving regulatory requirements, its
ability to compete effectively in the evolving PRC general health
and wellness market, its ability to manage the growth of its
business and expansion plans, its ability to achieve or maintain
profitability in the future, its ability to control the risks
associated with its pharmaceutical retail and wholesale businesses,
and the Company's ability to meet the standards necessary to
maintain listing of its ADSs on the Nasdaq Global Market, including
its ability to cure any non-compliance with Nasdaq's continued
listing criteria. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. All
information provided in this press release is as of the date of
this press release, and 111 does not undertake any obligation to
update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
applicable law.
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading
tech-enabled healthcare platform company committed to digitally
connecting patients with medicine and healthcare services in
China. The Company provides
consumers with better access to pharmaceutical products and
healthcare services directly through its online retail pharmacy, 1
Pharmacy, and indirectly through its offline virtual pharmacy
network. The Company also offers online healthcare services through
its internet hospital, 1 Clinic, which provides consumers with
cost-effective and convenient online consultation, electronic
prescription service, and patient management service. In addition,
the Company's online platform, 1 Medicine, serves as a one-stop
shop for pharmacies to source a vast selection of pharmaceutical
products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to
better serve their customers with cloud-based services. 111 also
provides an omni-channel drug commercialization platform to its
strategic partners, which includes services such as digital
marketing, patient education, data analytics, and pricing
monitoring.
For more information on 111, please visit:
http://ir.111.com.cn/.
For more information, please contact:
111, Inc.
Investor Relations
Email: ir@111.com.cn
111, Inc.
Media Relations
Email: press@111.com.cn
Phone: +86-021-2053 6666 (China)
111,
Inc.
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
(In thousands,
except for share and per share data)
|
|
|
As of
|
|
|
As of
|
|
December 31,
2021
|
|
|
June 30,
2022
|
|
RMB
|
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
|
Current
Assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
661,390
|
|
|
665,914
|
|
99,418
|
Restricted
cash
|
99,282
|
|
|
14,783
|
|
2,207
|
Short-term
investments
|
182,556
|
|
|
204,900
|
|
30,591
|
Accounts receivable,
net
|
404,469
|
|
|
436,512
|
|
65,170
|
Notes
Receivable
|
90,734
|
|
|
86,736
|
|
12,949
|
Inventories
|
1,121,107
|
|
|
1,223,597
|
|
182,678
|
Prepayments and other
current assets
|
242,199
|
|
|
183,209
|
|
27,352
|
Total current
assets
|
2,801,737
|
|
|
2,815,651
|
|
420,365
|
Property and equipment,
net
|
80,254
|
|
|
69,680
|
|
10,403
|
Intangible assets,
net
|
4,909
|
|
|
4,052
|
|
605
|
Long-term
investments
|
3,000
|
|
|
2,000
|
|
299
|
Other non-current
assets
|
22,086
|
|
|
20,671
|
|
3,086
|
Operating
lease right-of-use asset
|
233,847
|
|
|
191,848
|
|
28,642
|
Total
Assets
|
3,145,833
|
|
|
3,103,902
|
|
463,400
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
Current
Liabilities:
|
|
|
|
|
|
|
Short-term
borrowings
|
259,658
|
|
|
258,796
|
|
38,637
|
Accounts
payable
|
1,347,352
|
|
|
1,510,630
|
|
225,531
|
Accrued expense and
other current liabilities
|
522,968
|
|
|
478,540
|
|
71,444
|
Total Current
liabilities
|
2,129,978
|
|
|
2,247,966
|
|
335,612
|
Long-term operating
lease liabilities
|
165,614
|
|
|
128,991
|
|
19,258
|
Other non-current
liabilities
|
1,537
|
|
|
437
|
|
65
|
Total
Liabilities
|
2,297,129
|
|
|
2,377,394
|
|
354,935
|
|
|
|
|
|
|
|
MEZZANINE
EQUITY
|
|
|
|
|
|
|
Redeemable
non-controlling interests
|
1,000,849
|
|
|
1,028,663
|
|
153,575
|
|
|
|
|
|
|
|
SHAREHOLDERS'
DEFICIT
|
|
|
|
|
|
|
Ordinary shares Class
A
|
31
|
|
|
31
|
|
5
|
Ordinary shares Class
B
|
25
|
|
|
25
|
|
4
|
Treasury
shares
|
(40,859)
|
|
|
(40,859)
|
|
(6,100)
|
Additional paid-in
capital
|
2,817,789
|
|
|
2,871,848
|
|
428,756
|
Accumulated
deficit
|
(3,009,678)
|
|
|
(3,215,279)
|
|
(480,029)
|
Accumulated other
comprehensive income
|
59,371
|
|
|
68,869
|
|
10,282
|
Total shareholders'
deficit
|
(173,321)
|
|
|
(315,365)
|
|
(47,082)
|
Non-controlling
interest
|
21,176
|
|
|
13,210
|
|
1,972
|
Total
Deficit
|
(152,145)
|
|
|
(302,155)
|
|
(45,110)
|
Total liabilities,
mezzanine equity and deficit
|
3,145,833
|
|
|
3,103,902
|
|
463,400
|
111,
Inc.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
|
(In thousands,
except for share and per share data)
|
|
|
For the three months
ended June 30,
|
|
For the six months
ended June 30,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Net
Revenues
|
3,024,082
|
|
3,037,145
|
|
453,434
|
|
5,618,824
|
|
6,019,736
|
|
898,723
|
Operating Costs and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Cost of products
sold
|
(2,889,506)
|
|
(2,845,178)
|
|
(424,774)
|
|
(5,368,478)
|
|
(5,635,234)
|
|
(841,318)
|
Fulfillment
expenses
|
(84,144)
|
|
(87,908)
|
|
(13,124)
|
|
(150,399)
|
|
(182,441)
|
|
(27,238)
|
Selling and
marketing expenses
|
(133,545)
|
|
(101,174)
|
|
(15,105)
|
|
(255,973)
|
|
(216,028)
|
|
(32,252)
|
General and
administrative expenses
|
(51,429)
|
|
(38,493)
|
|
(5,747)
|
|
(103,566)
|
|
(86,488)
|
|
(12,912)
|
Technology
expenses
|
(52,643)
|
|
(33,711)
|
|
(5,033)
|
|
(102,341)
|
|
(72,732)
|
|
(10,859)
|
Other operating
expenses, net
|
(1,639)
|
|
(10,434)
|
|
(1,558)
|
|
(156)
|
|
(8,718)
|
|
(1,302)
|
Total Operating
costs and expenses
|
(3,212,906)
|
|
(3,116,898)
|
|
(465,341)
|
|
(5,980,913)
|
|
(6,201,641)
|
|
(925,881)
|
Loss from
operations
|
(188,824)
|
|
(79,753)
|
|
(11,907)
|
|
(362,089)
|
|
(181,905)
|
|
(27,158)
|
Interest
income
|
3,071
|
|
1,421
|
|
212
|
|
6,186
|
|
3,464
|
|
517
|
Interest
expense
|
(1,198)
|
|
(3,185)
|
|
(476)
|
|
(3,011)
|
|
(6,369)
|
|
(951)
|
Foreign exchange
gain (loss)
|
1,297
|
|
(4,934)
|
|
(737)
|
|
786
|
|
(4,543)
|
|
(678)
|
Other Income,
net
|
1,636
|
|
1,687
|
|
252
|
|
4,627
|
|
3,600
|
|
537
|
Loss before income
taxes
|
(184,018)
|
|
(84,764)
|
|
(12,656)
|
|
(353,501)
|
|
(185,753)
|
|
(27,733)
|
Income tax
expense
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Net
Loss
|
(184,018)
|
|
(84,764)
|
|
(12,656)
|
|
(353,501)
|
|
(185,753)
|
|
(27,733)
|
Net Loss attributable
to non-controlling interest
|
8,238
|
|
3,489
|
|
521
|
|
15,751
|
|
7,966
|
|
1,189
|
Net Loss attributable
to redeemable non-controlling interest
|
16,811
|
|
7,121
|
|
1,063
|
|
32,141
|
|
16,256
|
|
2,427
|
Adjustment attributable
to redeemable non-controlling interest
|
|
|
(21,104)
|
|
(3,151)
|
|
|
|
(44,070)
|
|
(6,579)
|
Net Loss
attributable to ordinary shareholders
|
(158,969)
|
|
(95,258)
|
|
(14,223)
|
|
(305,609)
|
|
(205,601)
|
|
(30,696)
|
Other comprehensive
loss
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gains
of available-for-sale securities,
|
1,143
|
|
1,478
|
|
221
|
|
3,501
|
|
2,776
|
|
414
|
Realized gains of
available-for-sale debt securities
|
(1,087)
|
|
(1,128)
|
|
(168)
|
|
(3,528)
|
|
(2,463)
|
|
(368)
|
Foreign currency
translation adjustments
|
(3,223)
|
|
7,183
|
|
1,072
|
|
(1,518)
|
|
6,227
|
|
930
|
Comprehensive
loss
|
(162,136)
|
|
(87,725)
|
|
(13,098)
|
|
(307,154)
|
|
(199,061)
|
|
(29,720)
|
Loss per
ADS:
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
(1.92)
|
|
(1.14)
|
|
(0.18)
|
|
(3.68)
|
|
(2.48)
|
|
(0.36)
|
Weighted average
number of shares used in computation of loss per
share
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
165,812,925
|
|
166,595,078
|
|
166,595,078
|
|
165,701,059
|
|
166,463,376
|
|
166,463,376
|
111,
Inc.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(In
thousands)
|
|
|
For the three months
ended June 30,
|
|
For the six months
ended June 30,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in
operating activities
|
(8,083)
|
|
(29,935)
|
|
(4,469)
|
|
(267,513)
|
|
(98,176)
|
|
(14,656)
|
Net cash provided by
(used in) investing activities
|
31,087
|
|
(52,294)
|
|
(7,807)
|
|
116,585
|
|
(29,435)
|
|
(4,395)
|
Net cash provided by
(used in) financing activities
|
72,238
|
|
6,394
|
|
954
|
|
(110,582)
|
|
41,672
|
|
6,221
|
Effect of exchange
rate changes on cash and cash equivalents, and
restricted
cash
|
(2,712)
|
|
6,695
|
|
1,000
|
|
(1,518)
|
|
5,964
|
|
890
|
Net increase
(decrease) in cash and cash equivalents, and restricted
cash
|
92,530
|
|
(69,140)
|
|
(10,322)
|
|
(263,028)
|
|
(79,975)
|
|
(11,940)
|
Cash and cash
equivalents, and restricted cash at the beginning of
the
period
|
962,976
|
|
749,837
|
|
111,947
|
|
1,318,534
|
|
760,672
|
|
113,565
|
Cash and cash
equivalents, and restricted cash at the end of the
period
|
1,055,506
|
|
680,697
|
|
101,625
|
|
1,055,506
|
|
680,697
|
|
101,625
|
111,
Inc.
|
Unaudited
Reconciliation of GAAP and Non-GAAP Results
|
(In thousands,
except for share and per share data)
|
|
|
For the three months
ended June 30,
|
|
For the six months
ended June 30,
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
(188,824)
|
|
(79,753)
|
|
(11,907)
|
|
(362,089)
|
|
(181,905)
|
|
(27,158)
|
Add: Share-based
compensation expenses
|
40,921
|
|
26,997
|
|
4,031
|
|
78,298
|
|
56,754
|
|
8,473
|
Non-GAAP loss from
operations
|
(147,903)
|
|
(52,756)
|
|
(7,876)
|
|
(283,791)
|
|
(125,151)
|
|
(18,685)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
(184,018)
|
|
(84,764)
|
|
(12,656)
|
|
(353,501)
|
|
(185,753)
|
|
(27,733)
|
Add:Share-based
compensation expenses, net of tax
|
40,921
|
|
26,997
|
|
4,031
|
|
78,298
|
|
56,754
|
|
8,473
|
Non-GAAP net
Loss
|
(143,097)
|
|
(57,767)
|
|
(8,625)
|
|
(275,203)
|
|
(128,999)
|
|
(19,260)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss
attributable to ordinary shareholders
|
(158,969)
|
|
(95,258)
|
|
(14,223)
|
|
(305,609)
|
|
(205,601)
|
|
(30,696)
|
Add: Share-based
compensation expenses, net of tax
|
40,921
|
|
26,997
|
|
4,031
|
|
78,298
|
|
56,754
|
|
8,473
|
Non-GAAP net Loss
attributable to ordinary shareholders
|
(118,048)
|
|
(68,261)
|
|
(10,192)
|
|
(227,311)
|
|
(148,847)
|
|
(22,223)
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss per ADS: Basic
and diluted
|
(1.92)
|
|
(1.14)
|
|
(0.18)
|
|
(3.68)
|
|
(2.48)
|
|
(0.36)
|
Add: Share-based
compensation expenses per ADS, net of
tax
|
0.49
|
|
0.32
|
|
0.04
|
|
0.95
|
|
0.68
|
|
0.10
|
Non-GAAP Loss per
ADS
|
(1.43)
|
|
(0.82)
|
|
(0.14)
|
|
(2.73)
|
|
(1.80)
|
|
(0.26)
|
View original
content:https://www.prnewswire.com/news-releases/111-inc-announces-second-quarter-2022-unaudited-financial-results-301612237.html
SOURCE 111, Inc.