111, Inc.
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111, Inc. (NASDAQ: YI) reported first-quarter 2026 unaudited results for the quarter ended March 31, 2026. Net revenue fell 33.1% YoY to RMB2.4 billion (US$342.4 million), while total marketplace (MP) service revenue rose 24.7% YoY. Promotional products revenue grew 70.2% YoY to RMB28.9 million; fulfillment expenses dropped 34.6% YoY to RMB61.2 million (2.6% of revenue).
111, Inc. (NASDAQ: YI) reported first-quarter 2026 unaudited results for the period ended March 31, 2026. Net revenue fell 33.1% YoY to RMB2.4 billion (US$342.4m), attributed to an asset-light transition. Total marketplace service revenue rose 24.7% YoY. Promotional products revenue grew 70.2% to RMB28.9m; gross profit rose 75.0%. Fulfillment expenses fell 34.6% to RMB61.2m, improving to 2.6% of revenue.
111, Inc. reported first-quarter 2026 unaudited results for the period ended March 31, 2026. Net revenue fell 33.1% YoY to RMB2.4 billion (US$342.4m), mainly tied to an asset-light transition. Marketplace service revenue rose 24.7% YoY. Promotional products revenue grew 70.2% to RMB28.9m; gross profit rose 75.0%. Fulfillment expenses dropped 34.6% to RMB61.2m and improved to 2.6% of revenue.
The print highlights progress on an asset-light shift (lower fulfillment expense ratio) while total revenue declines, creating a mixed near-term setup.
Q1 showed revenue decline but improving cost structure and stronger marketplace service revenue, alongside continued asset-light network changes.
Asset-light shift is showing cost-efficiency gains (fulfillment expense ratio down) and marketplace service growth, but top-line and operating profitability remain pressured with net loss widening.
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111, Inc. (NASDAQ: YI) reported first-quarter 2026 unaudited results for the quarter ended March 31, 2026. Net revenue fell 33.1% YoY to RMB2.4 billion (US$342.4 million), while total marketplace (MP) service revenue rose 24.7% YoY. Promotional products revenue grew 70.2% YoY to RMB28.9 million; fulfillment expenses dropped 34.6% YoY to RMB61.2 million (2.6% of revenue).
7 min read111, Inc. (NASDAQ: YI) reported first-quarter 2026 unaudited results for the period ended March 31, 2026. Net revenue fell 33.1% YoY to RMB2.4 billion (US$342.4m), attributed to an asset-light transition. Total marketplace service revenue rose 24.7% YoY. Promotional products revenue grew 70.2% to RMB28.9m; gross profit rose 75.0%. Fulfillment expenses fell 34.6% to RMB61.2m, improving to 2.6% of revenue.
6 min read111, Inc. reported first-quarter 2026 unaudited results for the period ended March 31, 2026. Net revenue fell 33.1% YoY to RMB2.4 billion (US$342.4m), mainly tied to an asset-light transition. Marketplace service revenue rose 24.7% YoY. Promotional products revenue grew 70.2% to RMB28.9m; gross profit rose 75.0%. Fulfillment expenses dropped 34.6% to RMB61.2m and improved to 2.6% of revenue.
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