SHANGHAI, June 16,
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 first
quarter ended March 31, 2022.
First Quarter 2022 Highlights
- Net revenues were RMB2.98
billion (US$470.5 million),
representing an increase of 14.9% year-over-year.
- Gross segment profit (1) increased by 66.3%
year-over-year, with B2B segment profit increasing by 90.7%
year-over-year.
- Total operating expenses were RMB294.7
million (US$46.5 million),
compared to RMB289.0 million in the
same quarter of last year. As a percentage of net revenues,
total operating expenses decreased to 9.9% from 11.1% in the same
quarter of last year, which reflected continuous improvement in our
operation efficiency.
- Non-GAAP loss from operations
(2) was RMB72.4 million (US$11.4 million), compared
to RMB135.9million in the same quarter of last year. As a
percentage of net revenues, non-GAAP loss from operations decreased
to 2.4% from 5.2% in the same quarter of last year.
- Number of partnerships with pharmaceutical companies
increased to 550.
(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, "Despite
all the challenges from pandemic lock-down in various parts of the
country, we continued to grow our top line and gross segment profit
in the first quarter of 2022, which brought us another step closer
to profitability. Net revenue increased by 14.9% year-over-year to
RMB 2.98 billion, marking the 15th
consecutive quarter of year-over-year growth for 111 since our
NASDAQ IPO. The B2B segment achieved year-over-year revenue
and segment profit increases by 17.0% and 90.7%, respectively. Our
partnerships with pharmaceutical companies continued to grow and
the direct purchase relationship totaled over 550 by the end of
March 2022. Our market coverage from
both upstream and downstream is increasing and customer loyalty
continues to grow."
Mr. Liu added, "In addition to topline growth, our gross segment
profit grew 4.4 times as fast as our revenue in the first quarter.
Gross segment profit grew by 66.3% year-over-year, and as a
percentage of net revenues, our gross segment margins(3)
improved to 6.5% as compared to 4.5% in the same quarter of last
year. We are especially pleased with the margin improvement for the
B2B segment, which as a percentage of net revenues, grew from 3.6%
in the first quarter of 2021 to 5.9% in in the first quarter this
year. Our operation efficiency also improved and total operating
expenses as a percentage of net revenues decreased to 9.9% in this
quarter as compared to 11.1% 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 from 5.2% in the first quarter
of 2021 to 2.4% in the first quarter this year."
"We will continue to flawlessly execute our growth strategy and
we are committed to steadily expand our revenue and gross segment
profit. We remain resolute on our goal to reach quarterly
break-even at the non-GAAP operating income level in 2022."
(3)
Gross segment margin represents gross segment profit divided
by net revenues.
|
First Quarter 2022 Financial Results
Net revenues were RMB2.98
billion (US$470.5 million),
representing an increase of 14.9% from RMB2.59 billion in
the same quarter of last year.
(In thousands
RMB)
|
For the three months
ended March 31,
|
|
2021
|
|
2022
|
|
YoY
|
B2B Net
Revenue
|
|
|
|
|
|
Product
|
2,440,504
|
|
2,851,396
|
|
16.8 %
|
Service
|
12,025
|
|
18,360
|
|
52.7 %
|
|
|
|
|
|
|
Sub-Total
|
2,452,529
|
|
2,869,756
|
|
17.0 %
|
|
|
|
|
|
|
Cost of Products
Sold(4)
|
2,364,354
|
|
2,701,643
|
|
14.3 %
|
|
|
|
|
|
|
Segment
Profit
|
88,175
|
|
168,113
|
|
90.7 %
|
Segment Profit
%
|
3.6 %
|
|
5.9 %
|
|
|
(In thousands
RMB)
|
For the three months
ended March 31,
|
|
2021
|
|
2022
|
|
YoY
|
B2C Net
Revenue
|
|
|
|
|
|
Product
|
137,150
|
|
102,131
|
|
-25.5 %
|
Service
|
5,063
|
|
10,704
|
|
111.4 %
|
|
|
|
|
|
|
Sub-Total
|
142,213
|
|
112,835
|
|
-20.7 %
|
|
|
|
|
|
|
Cost of Products
Sold(4)
|
114,618
|
|
88,413
|
|
-22.9 %
|
|
|
|
|
|
|
Segment
Profit
|
27,595
|
|
24,422
|
|
-11.5 %
|
Segment Profit
%
|
19.4 %
|
|
21.6 %
|
|
|
|
|
|
|
|
|
Gross Segment Profit
|
115,770
|
|
192,535
|
|
66.3 %
|
|
|
|
|
|
|
|
(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$486.6 million),
representing an increase of 11.5% from RMB2.8 billion in
the same quarter of last year.
- Cost of products sold was RMB2.8
billion (US$440.1 million),
representing an increase of 12.5% from RMB2.5 billion in
the same quarter of last year. The increase was in line with the
revenue growth.
- Fulfillment expenses were RMB94.5
million (US$14.9 million),
representing an increase of 42.7% from RMB66.3 million in
the same quarter of last year. Fulfillment expenses accounted for
3.2% of net revenues this quarter as compared to 2.6% in the same
quarter of last year. The increase was mainly attributable to
our investment to expand the capacity of our fulfillment centers to
support future growth. The pandemic lock-down in various
parts of the country also temporarily caused increases in delivery
costs.
- Selling and marketing expenses were RMB114.8
million (US$18.1 million),
representing a decrease of 6.2% from RMB122.4 million in
the same quarter of last year. As a percentage of net revenues,
selling and marketing expense further reduced to 3.9% in the
quarter from 4.7% in the same quarter of last year.
- General and administrative
expenses were RMB48.0 million (US$7.6million), representing a decrease of 7.9%
from RMB52.1 million in the same quarter of last year.
As a percentage of net revenues, general and administrative
expenses accounted for 1.6% in the quarter as compared to 2.0% in
the same quarter of last year.
- Technology expenses were RMB39.0
million (US$6.2 million),
compared with RMB49.7 million in the same quarter of last
year. As a percentage of net revenues, technology expenses
accounted for 1.3% this quarter as compared to 1.9% in the same
quarter of last year.
Loss from
operations was RMB102.2million (US$16.1 million), compared to RMB173.3
million in the same quarter of last year. As a percentage of
net revenues, loss from operations decreased to 3.4% in the quarter
from 6.7% in the same quarter of last year.
Non-GAAP loss from
operations was RMB72.4 million (US$11.4
million), compared to RMB135.9million in the same
quarter of last year. As a percentage of net revenues, non-GAAP
loss from operations decreased to 2.4% in the quarter from 5.2% in
the same quarter of last year.
Net loss was RMB101.0
million (US$15.9 million),
compared to RMB169.5 million in the same quarter of last
year. As a percentage of net revenues, net loss decreased to 3.4%
in the quarter from 6.5% in same quarter of last year.
Non-GAAP net loss (5) was RMB71.2
million (US$11.2 million),
compared to RMB132.1 million in the same quarter of last
year. As a percentage of net revenues, non-GAAP net loss decreased
to 2.4% in the quarter from 5.1% in same quarter of last
year.
Net loss attributable to ordinary
shareholders was RMB110.3 million (US$17.4
million), compared to RMB146.6 million in the same
quarter of last year. As a percentage of net revenues, net loss
attributable to ordinary shareholders decreased to 3.7% in the
quarter from 5.7% in same quarter of last year.
Non-GAAP net loss attributable to ordinary shareholders
(6) was RMB80.6
million (US$12.7 million),
compared to RMB109.3 million in the
same quarter of last year. As a percentage of net revenues,
non-GAAP net loss attributable to ordinary shareholders decreased
to 2.7% in the quarter from 4.2% 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 first 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 March 31, 2022, the
Company has cash and cash equivalents, restricted cash and
short-term investments of RMB901.4
million (US$142.2million),
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, June 16, 2022 (7:30 PM Beijing Time on the same day).
Details for the conference call are as follows:
Event Title: 111, Inc. First Quarter 2022 Unaudited Financial
Results
Registration Link:
http://apac.directeventreg.com/registration/event/5728866
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 telephone replay of the call will be available after the
conclusion of the conference call until June
24, 2022, 9:59 ET on:
United States:
+1-855-452-5696
International: +61-2-8199-0299
Conference ID: 5728866
A live and archived webcast of the conference call will be
available on the website at
https://edge.media-server.com/mmc/p/a246si8g.
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 RMB6.3393 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 March 31,
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
|
|
March 31,
2022
|
|
ASSETS
|
|
RMB
|
|
RMB
|
US$
|
|
|
|
|
|
|
|
|
|
Current
Assets:
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
661,390
|
|
650,693
|
|
|
102,644
|
|
Restricted
cash
|
|
99,282
|
|
99,144
|
|
|
15,640
|
|
Short-term
investments
|
|
182,556
|
|
151,578
|
|
|
23,911
|
|
Accounts receivable,
net
|
|
404,469
|
|
378,994
|
|
|
59,785
|
|
Notes
Receivable
|
|
90,734
|
|
44,179
|
|
|
6,969
|
|
Inventories
|
|
1,121,107
|
|
1,097,851
|
|
|
173,182
|
|
Prepayments and other
current assets
|
|
242,199
|
|
265,352
|
|
|
41,859
|
|
Total current
assets
|
|
2,801,737
|
|
2,687,791
|
|
|
423,990
|
|
Property and
equipment
|
|
80,254
|
|
77,582
|
|
|
12,238
|
|
Intangible
assets
|
|
4,909
|
|
4,472
|
|
|
705
|
|
Long-term
investments
|
|
3,000
|
|
2,000
|
|
|
315
|
|
Other non-current
assets
|
|
22,086
|
|
22,217
|
|
|
3,505
|
|
Operating lease
right-of-use asset
|
|
233,847
|
|
217,300
|
|
|
34,278
|
|
Total
Assets
|
|
3,145,833
|
|
3,011,362
|
|
|
475,031
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
|
|
Current
Liabilities:
|
|
|
|
|
|
|
|
|
Short-term
borrowings
|
|
259,658
|
|
259,592
|
|
|
40,950
|
|
Accounts
payable
|
|
1,347,352
|
|
1,366,777
|
|
|
215,602
|
|
Accrued expenses and
other current liabilities
|
|
522,968
|
|
454,637
|
|
|
71,718
|
|
Total Current
liabilities
|
|
2,129,978
|
|
2,081,006
|
|
|
328,270
|
|
Long-term operating
lease liabilities
|
|
165,614
|
|
152,642
|
|
|
24,079
|
|
Other non-current
liabilities
|
|
1,537
|
|
987
|
|
|
156
|
|
Total
Liabilities
|
|
2,297,129
|
|
2,234,635
|
|
|
352,505
|
|
|
|
|
|
|
|
|
|
|
MEZZANINE
EQUITY
|
|
|
|
|
|
|
|
|
Redeemable
non-controlling interests
|
|
1,000,849
|
|
1,014,680
|
|
|
160,062
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
DEFICIT
|
|
|
|
|
|
|
|
|
Ordinary shares Class
A
|
|
31
|
|
31
|
|
|
5
|
|
Ordinary shares Class
B
|
|
25
|
|
25
|
|
|
4
|
|
Treasury
shares
|
|
(40,859)
|
|
(40,859)
|
|
|
(6,445)
|
|
Additional paid-in
capital
|
|
2,817,789
|
|
2,847,793
|
|
|
449,228
|
|
Accumulated
deficit
|
|
(3,009,678)
|
|
(3,120,021)
|
|
|
(492,171)
|
|
Accumulated other
comprehensive income
|
|
59,371
|
|
58,378
|
|
|
9,209
|
|
Total shareholders'
deficit
|
|
(173,321)
|
|
(254,653)
|
|
|
(40,170)
|
|
Non-controlling
interest
|
|
21,176
|
|
16,700
|
|
|
2,634
|
|
Total
Deficit
|
|
(152,145)
|
|
(237,953)
|
|
|
(37,536)
|
|
Total liabilities,
mezzanine equity and deficit
|
|
3,145,833
|
|
3,011,362
|
|
|
475,031
|
|
111,
Inc.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
|
(In thousands,
except for share and per share data)
|
|
|
|
For the three
months ended March 31,
|
|
|
|
2021
|
|
2022
|
|
|
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
Net
Revenues
|
2,594,742
|
|
2,982,591
|
|
|
470,492
|
|
Operating Costs and
expenses:
|
|
|
|
|
|
|
|
|
Cost of products
sold
|
(2,478,972)
|
|
(2,790,056)
|
|
|
(440,121)
|
|
Fulfillment
expenses
|
(66,255)
|
|
(94,533)
|
|
|
(14,912)
|
|
Selling and marketing
expenses
|
(122,428)
|
|
(114,854)
|
|
|
(18,118)
|
|
General and
administrative expenses
|
(52,137)
|
|
(47,994)
|
|
|
(7,571)
|
|
Technology
expenses
|
(49,698)
|
|
(39,021)
|
|
|
(6,155)
|
|
Other operating income,
net
|
1,483
|
|
1,716
|
|
|
271
|
|
Total Operating
costs and expenses
|
(2,768,007)
|
|
(3,084,742)
|
|
|
(486,606)
|
|
Loss from
operations
|
(173,265)
|
|
(102,151)
|
|
|
(16,114)
|
|
Interest
income
|
3,115
|
|
2,043
|
|
|
322
|
|
Interest
expense
|
(1,813)
|
|
(3,184)
|
|
|
(502)
|
|
Foreign exchange (loss)
gain
|
(511)
|
|
391
|
|
|
62
|
|
Other Income,
net
|
2,991
|
|
1,913
|
|
|
302
|
|
Loss before income
taxes
|
(169,483)
|
|
(100,988)
|
|
|
(15,930)
|
|
Income tax
expense
|
-
|
|
-
|
|
|
-
|
|
Net
Loss
|
(169,483)
|
|
(100,988)
|
|
|
(15,930)
|
|
Net Loss attributable
to non-controlling interest
|
22,843
|
|
4,477
|
|
|
706
|
|
Net Loss attributable
to redeemable non-controlling interest
|
-
|
|
9,135
|
|
|
1,441
|
|
Adjustment attributable
to redeemable non-controlling interest
|
-
|
|
(22,966)
|
|
|
(3,623)
|
|
|
|
|
|
|
|
|
|
Net Loss
attributable to ordinary shareholders
|
(146,640)
|
|
(110,342)
|
|
|
(17,406)
|
|
Other comprehensive
income (loss), net of tax of nil
|
|
|
|
|
|
|
|
Unrealized gains of
available-for-sale securities
|
2,358
|
|
1,298
|
|
|
205
|
|
Realized gains of
available-for-sale securities
|
(2,441)
|
|
(1,335)
|
|
|
(211)
|
|
Foreign currency
translation adjustments
|
1,705
|
|
(956)
|
|
|
(151)
|
|
Comprehensive
loss
|
(145,018)
|
|
(111,335)
|
|
|
(17,563)
|
|
Loss per
share:
|
|
|
|
|
|
|
|
Basic and
diluted
|
(0.89)
|
|
(0.66)
|
|
|
(0.10)
|
|
Loss per
ADS:
|
|
|
|
|
|
|
|
Basic and
diluted
|
(1.78)
|
|
(1.32)
|
|
|
(0.20)
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in computation of loss per
share
|
|
|
|
|
|
|
|
Basic and
diluted
|
165,587,950
|
|
166,331,126
|
|
|
166,331,126
|
|
|
|
|
|
|
|
|
|
|
111,
Inc.
|
UNAUDITED CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(In
thousands)
|
|
|
For the three months
ended March 31,
|
|
|
|
2021
|
|
2022
|
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in
operating activities
|
(259,430)
|
|
(68,241)
|
|
|
(10,765)
|
|
|
Net cash provided by
investing activities
|
85,498
|
|
22,859
|
|
|
3,606
|
|
|
Net cash (used in)
provided by financing activities
|
(182,820)
|
|
35,278
|
|
|
5,565
|
|
|
Effect of exchange
rate changes on cash and cash equivalents, and restricted
cash
|
1,194
|
|
(731)
|
|
|
(115)
|
|
|
Net decrease in cash
and cash equivalents, and restricted cash
|
(355,558)
|
|
(10,835)
|
|
|
(1,709)
|
|
|
Cash and cash
equivalents, and restricted cash at the beginning of the
period
|
1,318,534
|
|
760,672
|
|
|
119,993
|
|
|
Cash and cash
equivalents, and restricted cash at the end of the
period
|
962,976
|
|
749,837
|
|
|
118,284
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
111,
Inc.
|
Unaudited
Reconciliation of GAAP and Non-GAAP Results
|
|
|
|
For the three months
ended March 31,
|
|
|
2021
|
|
2022
|
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
(173,265)
|
|
(102,151)
|
|
|
(16,114)
|
|
|
Add: Share-based
compensation expenses
|
37,377
|
|
29,757
|
|
|
4,694
|
|
|
Non-GAAP loss from
operations
|
(135,888)
|
|
(72,394)
|
|
|
(11,420)
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
(169,483)
|
|
(100,988)
|
|
|
(15,930)
|
|
|
Add: Share-based
compensation expenses, net of tax
|
37,377
|
|
29,757
|
|
|
4,694
|
|
|
Non-GAAP net
Loss
|
(132,106)
|
|
(71,231)
|
|
|
(11,236)
|
|
|
|
Net loss attributable
to ordinary shareholders
|
(146,640)
|
|
(110,342)
|
|
|
(17,406)
|
|
|
Add: Share-based
compensation expenses, net of tax
|
37,377
|
|
29,757
|
|
|
4,694
|
|
|
Non-GAAP net loss
attributable to ordinary shareholders
|
(109,263)
|
|
(80,585)
|
|
|
(12,712)
|
|
|
|
|
|
|
|
|
|
|
|
Loss per ADS: Basic
and diluted
|
(1.78)
|
|
(1.32)
|
|
|
(0.20)
|
|
|
Add: Share-based
compensation expenses per ADS, net of tax
|
0.45
|
|
0.36
|
|
|
0.06
|
|
|
Non-GAAP Loss per
ADS
|
(1.33)
|
|
(0.96)
|
|
|
(0.14)
|
|
|
|
|
|
|
|
|
|
|
|
View original
content:https://www.prnewswire.com/news-releases/111-inc-announces-first-quarter-2022-unaudited-financial-results-301569343.html
SOURCE 111, Inc.