SHANGHAI, Dec. 1, 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 third quarter ended
September 30, 2022.
Third Quarter 2022 Key Results
- Net revenues were RMB3.35
billion (US$470.8 million),
representing an increase of 0.1% year-over-year.
- Gross segment profit (1) increased by 21.6%
year-over-year, with B2B segment profit increasing by 26.9%
year-over-year.
- Total operating expenses were RMB282.7
million (US$39.7 million),
compared to RMB341.4 million in the
same quarter of last year. As a percentage of net revenues,
total operating expenses decreased to 8.4% from 10.2% in the same
quarter of last year, which reflected continuous improvement in our
operation efficiency.
- Non-GAAP loss from operations
(2) was RMB48.7 million (US$6.9 million), compared to RMB135.9
million in the same quarter of last year. As a percentage of
net revenues, non-GAAP loss from operations decreased to 1.5% from
4.1% in the same quarter of last year.
(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, "Our
business was negatively impacted by lockdowns in various cities and
provinces during the third quarter. We have tried our very 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 third quarter increased by 0.1%
year-over-year to RMB3.35 billion,
while our gross segment profit increased by 21.6%
year-over-year. Non-GAAP loss from operations was narrowed to
1.5% of net revenues as compared to 4.1% in the same quarter of
last year. We are also pleased to see our positive
operating cash flow and overall cash flow for the
quarter."
Mr. Liu added, "Our efforts to improve our margin profile
continued to deliver positive results during the quarter. Our
overall gross segment margin(3) as a percentage of net
revenues improved to 6.0% from 5.0% in the same quarter of last
year. B2B segment profit grew by 26.9% year-over-year, and as a
percentage of net revenues, B2B segment margin improved to 5.5%
from 4.4% in the same quarter of last year. We also improved B2C
segment margin to 22.4% from 19.7% in the same quarter of last
year. In addition, we continued to enhance our operation
efficiency and total operating expenses as a percentage of net
revenues decreased to 8.4% in this quarter from 10.2% in the same
quarter of last year. We expect this momentum to continue as
we scale, and meanwhile we will continue to focus on delivering
best services to our customers/patients."
(3)
Gross segment margin represents gross segment profit divided
by net revenues.
|
Third Quarter 2022 Financial Results
Net revenues were RMB3,349 million
(US$470.8
million), representing an increase of 0.1%
from RMB3,346 million in the same quarter of last
year.
(In thousands
RMB)
|
|
For the three months
ended September 30,
|
|
|
2021
|
|
2022
|
|
YoY
|
B2B Net
Revenue
|
|
|
|
|
|
|
Product
|
|
3,205,763
|
|
3,225,201
|
|
0.6 %
|
Service
|
|
16,188
|
|
23,716
|
|
46.5 %
|
|
|
|
|
|
|
|
Sub-Total
|
|
3,221,951
|
|
3,248,917
|
|
0.8 %
|
|
|
|
|
|
|
|
Cost of Products
Sold(4)
|
|
3,080,411
|
|
3,069,316
|
|
-0.4 %
|
|
|
|
|
|
|
|
Segment
Profit
|
|
141,540
|
|
179,601
|
|
26.9 %
|
Segment Profit
%
|
|
4.4 %
|
|
5.5 %
|
|
|
(In thousands
RMB)
|
For the three months
ended September 30,
|
|
|
|
|
2021
|
|
2022
|
|
YoY
|
B2C Net
Revenue
|
|
|
|
|
|
|
Product
|
|
116,069
|
|
90,941
|
|
-21.6 %
|
Service
|
|
8,207
|
|
8,857
|
|
7.9 %
|
|
|
|
|
|
|
|
Sub-Total
|
|
124,276
|
|
99,798
|
|
-19.7 %
|
|
|
|
|
|
|
|
Cost
of Products Sold(4)
|
|
99,751
|
|
77,417
|
|
-22.4 %
|
|
|
|
|
|
|
|
Segment
Profit
|
|
24,525
|
|
22,381
|
|
-8.7 %
|
Segment Profit
%
|
|
19.7 %
|
|
22.40 %
|
|
|
(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 RMB3.4
billion (US$482.1 million),
representing a decrease of 2.6% from RMB3.5 billion in
the same quarter of last year.
- Cost of products sold was RMB3.1
billion (US$442.4 million),
representing a decrease of 1.1% from RMB3.2 billion in
the same quarter of last year.
- Fulfillment expenses were RMB100.2
million (US$14.1 million),
representing a decrease of 0.4% from RMB100.6 million in
the same quarter of last year. Fulfillment expenses accounted for
2.99% of net revenues this quarter as compared to 3.01% in the same
quarter of last year.
- Selling and marketing expenses were RMB107.8
million (US$15.2 million),
representing a decrease of 18.2%
from RMB131.8 million in the same quarter of last
year. We continued to see the improved sales efficiency and
effectiveness. As a percentage of
net revenues, selling and marketing expenses further reduced to
3.2% in the quarter from 3.9% in the same quarter of last year.
- General and administrative expenses were RMB46.1
million (US$6.5 million),
representing a decrease of 13.1% from RMB53.1 million in
the same quarter of last year. As a percentage of net revenues,
general and administrative expense decreased to 1.4% in the quarter
from 1.6% in the same quarter of last year.
- Technology expenses were RMB29.5
million (US$4.2 million),
representing a decrease of 47.3% from RMB56.1 million in the same quarter of last year.
As a percentage of net revenues, technology expenses accounted for
0.9% 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 RMB80.7
million (US$11.3 million),
compared to RMB175.4 million in the same quarter of last
year. As a percentage of net revenues, loss from operations
decreased to 2.4% in the quarter from 5.2% in the same quarter of
last year.
Non-GAAP loss from operations was RMB48.7
million (US$6.9 million),
compared to RMB135.9 million in the same quarter of
last year. As a percentage of net revenues, non-GAAP loss from
operations decreased to 1.5% in the quarter from 4.1% in same
quarter of last year.
Net loss was RMB86.2 million (US$12.1 million), compared to RMB165.8
million in the same quarter of last year. As a percentage of
net revenues, net loss decreased to 2.6% in the quarter from 5.0%
in same quarter of last year.
Non-GAAP net loss (5) was RMB54.3
million (US$7.6 million),
compared to RMB126.3 million in the same quarter of last
year. As a percentage of net revenues, non-GAAP net loss decreased
to 1.6% in the quarter from 3.8% in same quarter of last
year.
Net loss attributable to ordinary shareholders
was RMB96.8 million (US$13.6
million), compared to RMB252.9
million in the same quarter of last year. As a
percentage of net revenues, net loss attributable to ordinary
shareholders decreased to 2.9% in the quarter from 7.6% in same
quarter of last year.
Non-GAAP net loss attributable to ordinary shareholders
(6) was RMB64.9
million (US$9.1 million),
compared to RMB213.4 million in the
same quarter of last year. As a percentage of net revenues,
non-GAAP net loss attributable to ordinary shareholders decreased
to 1.9% in the quarter from 6.4% 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 third 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 September 30, 2022, the
Company has cash and cash equivalents, restricted cash and
short-term investments of RMB865.9
million (US$121.7 million),
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, December 1, 2022
(8:30 PM Beijing Time on the same
day).
Details for the conference call are as follows:
Conference Topic: 111, Inc. Third Quarter 2022 Earnings Conference
Call
Registration Link:
https://s1.c-conf.com/diamondpass/10026835-fg6ds.html
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 then be provided with the
dial in number, the Passcode, and the unique access PIN. This information will
also be emailed to the participant
as a calendar invite.
Please dial in 15 minutes before the call is scheduled to begin.
To join the conference, simply dial the number in the calendar
invite and enter the passcode followed by your PIN, and the participant will join the conference
instantly.
A live and archived webcast of the conference call will be
available on the website at
https://edge.media-server.com/mmc/p/kpnswevm.
A telephone replay of the call will be available after the
conclusion of the conference call until Dec
8, 2022, 7:59 AM U.S. Eastern
Time:
China: 4001209216
United States: +1-855-883-1031
International: +61-7-3107-6325
Conference ID: 10026835
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 RMB7.1135 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 September 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
|
September 30,
2022
|
|
RMB
|
|
|
RMB
|
|
US$
|
ASSETS
|
|
|
|
|
|
|
Current
Assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
661,390
|
|
|
720,729
|
|
101,318
|
Restricted
cash
|
99,282
|
|
|
38,507
|
|
5,413
|
Short-term
investments
|
182,556
|
|
|
106,710
|
|
15,001
|
Accounts receivable,
net
|
404,469
|
|
|
422,853
|
|
59,444
|
Notes
Receivable
|
90,734
|
|
|
73,233
|
|
10,295
|
Inventories
|
1,121,107
|
|
|
1,241,409
|
|
174,515
|
Prepayments and other
current assets
|
242,199
|
|
|
188,515
|
|
26,501
|
Total current
assets
|
2,801,737
|
|
|
2,791,956
|
|
392,487
|
Property and equipment,
net
|
80,254
|
|
|
61,406
|
|
8,632
|
Intangible assets,
net
|
4,909
|
|
|
3,740
|
|
526
|
Long-term
investments
|
3,000
|
|
|
2,000
|
|
281
|
Other non-current
assets
|
22,086
|
|
|
20,336
|
|
2,859
|
Operating
lease right-of-use asset
|
233,847
|
|
|
175,521
|
|
24,675
|
Total
Assets
|
3,145,833
|
|
|
3,054,959
|
|
429,460
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
Current
Liabilities:
|
|
|
|
|
|
|
Short-term
borrowings
|
259,658
|
|
|
229,616
|
|
32,279
|
Accounts
payable
|
1,347,352
|
|
|
1,547,943
|
|
217,606
|
Accrued expense and
other current liabilities
|
522,968
|
|
|
480,563
|
|
67,555
|
Total Current
liabilities
|
2,129,978
|
|
|
2,258,122
|
|
317,440
|
Long-term operating
lease liabilities
|
165,614
|
|
|
115,046
|
|
16,173
|
Other non-current
liabilities
|
1,537
|
|
|
(113)
|
|
(16)
|
Total
Liabilities
|
2,297,129
|
|
|
2,373,055
|
|
333,597
|
|
|
|
|
|
|
|
MEZZANINE
EQUITY
|
|
|
|
|
|
|
Redeemable
non-controlling interests
|
1,000,849
|
|
|
1,042,801
|
|
146,595
|
|
|
|
|
|
|
|
SHAREHOLDERS'
DEFICIT
|
|
|
|
|
|
|
Ordinary shares Class
A
|
31
|
|
|
31
|
|
5
|
Ordinary shares Class
B
|
25
|
|
|
25
|
|
4
|
Treasury
shares
|
(40,859)
|
|
|
(40,859)
|
|
(5,744)
|
Additional paid-in
capital
|
2,817,789
|
|
|
2,903,786
|
|
408,208
|
Accumulated
deficit
|
(3,009,678)
|
|
|
(3,312,125)
|
|
(465,611)
|
Accumulated other
comprehensive income
|
59,371
|
|
|
78,567
|
|
11,045
|
Total shareholders'
deficit
|
(173,321)
|
|
|
(370,575)
|
|
(52,093)
|
Non-controlling
interest
|
21,176
|
|
|
9,678
|
|
1,361
|
Total
Deficit
|
(152,145)
|
|
|
(360,897)
|
|
(50,732)
|
Total liabilities,
mezzanine equity and deficit
|
3,145,833
|
|
|
3,054,959
|
|
429,460
|
111,
Inc.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
|
(In thousands,
except for share and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months
ended September 30,
|
|
For the nine months
ended September 30,
|
|
|
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
Net
Revenues
|
|
|
3,346,227
|
|
3,348,715
|
|
470,755
|
|
8,965,051
|
|
9,368,451
|
|
1,316,996
|
|
Operating Costs and
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of product
sold
|
|
|
(3,180,162)
|
|
(3,146,733)
|
|
(442,361)
|
|
(8,548,640)
|
|
(8,781,967)
|
|
(1,234,549)
|
|
Fulfillment
expenses
|
|
|
(100,561)
|
|
(100,167)
|
|
(14,081)
|
|
(250,960)
|
|
(282,608)
|
|
(39,728)
|
|
Selling and marketing
expenses
|
|
|
(131,839)
|
|
(107,799)
|
|
(15,154)
|
|
(387,812)
|
|
(323,827)
|
|
(45,523)
|
|
General and
administrative expenses
|
|
|
(53,064)
|
|
(46,121)
|
|
(6,484)
|
|
(156,630)
|
|
(132,609)
|
|
(18,642)
|
|
Technology
expenses
|
|
|
(56,060)
|
|
(29,540)
|
|
(4,153)
|
|
(158,401)
|
|
(102,272)
|
|
(14,377)
|
|
Other operating
expenses, net
|
|
|
103
|
|
976
|
|
137
|
|
(53)
|
|
(7,742)
|
|
(1,088)
|
|
Total Operating
costs and expenses
|
|
|
(3,521,583)
|
|
(3,429,384)
|
|
(482,096)
|
|
(9,502,496)
|
|
(9,631,025)
|
|
(1,353,907)
|
|
Loss from
operations
|
|
|
(175,356)
|
|
(80,669)
|
|
(11,341)
|
|
(537,445)
|
|
(262,574)
|
|
(36,911)
|
|
Interest
income
|
|
|
2,031
|
|
2,558
|
|
360
|
|
8,217
|
|
6,022
|
|
847
|
|
Interest
expense
|
|
|
(828)
|
|
(4,297)
|
|
(604)
|
|
(3,839)
|
|
(10,666)
|
|
(1,499)
|
|
Foreign exchange (loss)
gain
|
|
|
(412)
|
|
(5,102)
|
|
(717)
|
|
374
|
|
(9,645)
|
|
(1,356)
|
|
Other Income,
net
|
|
|
8,785
|
|
1,270
|
|
179
|
|
13,412
|
|
4,870
|
|
685
|
|
Loss before income
taxes
|
|
|
(165,780)
|
|
(86,240)
|
|
(12,123)
|
|
(519,281)
|
|
(271,993)
|
|
(38,234)
|
|
Income tax
expense
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
Net
Loss
|
|
|
(165,780)
|
|
(86,240)
|
|
(12,123)
|
|
(519,281)
|
|
(271,993)
|
|
(38,234)
|
|
Net Loss attributable
to non-controlling interest
|
|
|
7,533
|
|
3,532
|
|
497
|
|
23,284
|
|
11,498
|
|
1,616
|
|
Net Loss attributable
to redeemable non-controlling interest
|
|
|
15,372
|
|
7,052
|
|
991
|
|
47,513
|
|
23,308
|
|
3,277
|
|
Adjustment attributable
to redeemable non-controlling interest
|
|
|
(109,980)
|
|
(21,190)
|
|
(2,979)
|
|
(109,980)
|
|
(65,260)
|
|
(9,174)
|
|
Net Loss
attributable to ordinary shareholders
|
(252,855)
|
|
(96,846)
|
|
(13,614)
|
|
(558,464)
|
|
(302,447)
|
|
(42,515)
|
|
Other comprehensive
loss
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gains of
available -for-sale securities,
|
|
|
2,556
|
|
1,034
|
|
145
|
|
6,057
|
|
3,810
|
|
536
|
|
Realized gains of
available-for-sale debt securities
|
|
|
(2,114)
|
|
(721)
|
|
(101)
|
|
(5,642)
|
|
(3,184)
|
|
(448)
|
|
Foreign currency
translation adjustments
|
|
|
765
|
|
9,385
|
|
1,319
|
|
(753)
|
|
18,570
|
|
2,611
|
|
Comprehensive loss
|
|
|
(251,648)
|
|
(87,148)
|
|
(12,251)
|
|
(558,802)
|
|
(283,251)
|
|
(39,816)
|
|
Loss per
ADS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
|
|
(3.04)
|
|
(1.16)
|
|
(0.16)
|
|
(6.74)
|
|
(3.64)
|
|
(0.52)
|
|
Weighted average
number of shares used in computation of loss per
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
|
|
165,964,665
|
|
166,710,907
|
|
166,710,907
|
|
165,788,519
|
|
166,547,681
|
|
166,547,681
|
|
111,
Inc.
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In
thousands)
|
|
|
For the nine months ended September
30,
|
|
For the nine months ended September
30,
|
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in)
provided by operating activities
|
(107,181)
|
|
11,815
|
|
1,661
|
|
(374,694)
|
|
(86,361)
|
|
(12,140)
|
|
Net cash (used in)
provided by investing activities
|
(243,454)
|
|
100,460
|
|
14,122
|
|
(126,869)
|
|
71,025
|
|
9,983
|
|
Net cash (used in)
provided by financing activities
|
(5,307)
|
|
(40,755)
|
|
(5,729)
|
|
(115,889)
|
|
917
|
|
129
|
|
Effect of exchange
rate changes on cash and cash equivalents, and
restricted
cash
|
765
|
|
7,019
|
|
986
|
|
(753)
|
|
12,983
|
|
1,825
|
|
Net (decrease)
increase in cash and cash equivalents, and restricted
cash
|
(355,177)
|
|
78,539
|
|
11,040
|
|
(618,205)
|
|
(1,436)
|
|
(203)
|
|
Cash and cash
equivalents, and restricted cash at the beginning of
the
period
|
1,055,506
|
|
680,697
|
|
95,691
|
|
1,318,534
|
|
760,672
|
|
106,934
|
|
Cash and cash
equivalents, and restricted cash at the end of the
period
|
700,329
|
|
759,236
|
|
106,731
|
|
700,329
|
|
759,236
|
|
106,731
|
|
111, Inc.
Unaudited Reconciliation of GAAP and Non-GAAP
Results
(In thousands, except for share and per share
data)
|
|
|
|
For the three months
ended September 30,
|
|
For the nine months
ended September 30,
|
|
|
|
|
2021
|
|
2022
|
|
2021
|
|
2022
|
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
|
(175,356)
|
|
(80,669)
|
|
(11,341)
|
|
(537,445)
|
|
(262,574)
|
|
(36,911)
|
|
|
Add: Share-based
compensation expenses
|
|
39,497
|
|
31,938
|
|
4,490
|
|
117,795
|
|
88,692
|
|
12,468
|
|
|
Non-GAAP loss from
operations
|
|
(135,859)
|
|
(48,731)
|
|
(6,851)
|
|
(419,650)
|
|
(173,882)
|
|
(24,443)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
|
(165,780)
|
|
(86,240)
|
|
(12,123)
|
|
(519,281)
|
|
(271,993)
|
|
(38,234)
|
|
|
Add:Share-based
compensation expenses, net of tax
|
|
39,497
|
|
31,938
|
|
4,490
|
|
117,795
|
|
88,692
|
|
12,468
|
|
|
Non-GAAP net
Loss
|
|
(126,283)
|
|
(54,302)
|
|
(7,633)
|
|
(401,486)
|
|
(183,301)
|
|
(25,766)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss attributable to ordinary
shareholders
|
|
(252,855)
|
|
(96,846)
|
|
(13,614)
|
|
(558,464)
|
|
(302,447)
|
|
(42,515)
|
|
|
Add: Share-based compensation expenses,
net of tax
|
|
39,497
|
|
31,938
|
|
4,490
|
|
117,795
|
|
88,692
|
|
12,468
|
|
|
Non-GAAP net Loss attributable to ordinary
shareholders
|
|
(213,358)
|
|
(64,908)
|
|
(9,124)
|
|
(440,669)
|
|
(213,755)
|
|
(30,047)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss per ADS: Basic
and diluted
|
|
(3.04)
|
|
(1.16)
|
|
(0.16)
|
|
(6.74)
|
|
(3.64)
|
|
(0.52)
|
|
|
Add: Share-based compensation expenses per
ADS, net of
tax
|
|
0.48
|
|
0.38
|
|
0.06
|
|
1.42
|
|
1.06
|
|
0.14
|
|
|
Non-GAAP Loss per
ADS
|
|
(2.56)
|
|
(0.78)
|
|
(0.10)
|
|
(5.32)
|
|
(2.58)
|
|
(0.38)
|
|
|
View original
content:https://www.prnewswire.com/news-releases/111-inc-announces-third-quarter-2022-unaudited-financial-results-301691117.html
SOURCE 111, Inc.