SHANGHAI - 111, Inc., a company listed under the drug store and proprietary store industry, disclosed today a modification to its American Depositary Share (ADS) ratio. This information is based on the company's recent filing with the Securities and Exchange Commission (SEC).
The announcement comes as the company's stock trades at $0.57, having experienced a significant decline of over 62% in the past year, according to InvestingPro data.
The document, identified as a Form 6-K, was filed today, Wednesday, indicating that 111, Inc., which operates under the organization name 07 Trade & Services and was previously known as New Peak Group, has made an official announcement regarding its ADS ratio. However, the specific details of the ratio change were not disclosed in the provided excerpt of the filing.
111, Inc. is incorporated in the jurisdiction of E9 and has its fiscal year-end on December 31. The business is headquartered at 3-4/F, No.295 ZuChongZhi Road, Pudong New Area, Shanghai, with the postal code 201203. The company can be contacted via business phone at 862120536666.
The SEC filing, which is a standard requirement for foreign issuers such as 111, Inc., to report certain types of information, was signed by Junling Liu, the Chief Executive Officer of the company.
Investors and stakeholders in 111, Inc. are advised to review the company's latest 6-K filing for a comprehensive understanding of the changes to the ADS ratio and its implications. The company has confirmed that it will continue to file annual reports under Form 20-F, which is a detailed form that includes the company's complete audited financial statements.
Investors should note that the company's next earnings report is scheduled for March 13, 2025, with analysts expecting a return to profitability this year. For deeper insights into 111, Inc.'s financial health and valuation metrics, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US-listed companies.
The announcement of the ADS ratio change is a regulatory requirement for companies with securities traded in the form of American Depositary Receipts (ADRs) and could potentially affect the value of these securities. However, without further details on the nature of the change, the immediate impact on the company's stock, traded under SEC file number 001-38639, cannot be determined.
This news is based solely on the latest SEC filings of 111, Inc., and no additional information outside of these documents has been considered.
In other recent news, 111 Inc. has managed to sustain its operational profitability for the third consecutive quarter in Q3 2024, despite facing a challenging macroeconomic landscape.
The company's net revenues remained steady at RMB 3.6 billion, while the gross segment profit saw a significant increase of 10.5%, reaching RMB 210.6 million. This performance is attributed to a major reduction in operating expenses, which fell to 0.8% of net revenues from the previous year's 7.4%.
These recent developments demonstrate 111 Inc.'s ability to maintain operational efficiency in a difficult market environment. The company is also committed to digital transformation, with CEO Junling Lu emphasizing the importance of this initiative. In fact, 100% of the company's internal systems are now digitized.
Notably, 111 Inc. has improved the accuracy of its AI-driven herbal medicine recognition technology to 98.18% and added 23,000 new SKUs through inventory sharing technology. The company also continues to optimize its supply chain through the development of the Kuangtong logistics network, leading to marginally reduced delivery costs and optimized warehouse labor and packaging costs.
Despite the tough market conditions, 111 Inc. sees long-term growth opportunities, particularly in the anti-corruption campaign in healthcare and potential shifts in drug sales to retail pharmacies. The company also anticipates benefits from a growing aging population and potential expansion in healthcare expenditure.
As part of its strategic plan, 111 Inc. is focusing on enhancing partnerships with pharmaceutical companies and leveraging AI and data analytics for further growth.
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