The following is a summary of the 111, Inc. (YI) Q4 2023 Earnings Call Transcript:

Financial Performance:

• 111, Inc. reported a slight year-over-year revenue decrease by 1% in Q4 2023, closing at RMB4.1 billion.

• There was a decrease of 15.5% in gross segment profit and a 16.3% increase in the operating expenses compared to the previous year.

• The company's total revenue for 2023 showed a growth of 10.6% year-over-year, reaching RMB14.9 billion.

• Gross segment and profit went up by 1.1% year-over-year, totaling RMB849 million.

• The total operating expenses, after adjusting for share-based compensation expenses, were reported to be 6.5% of net revenues.

• Loss from operations decreased to 2.3% of net revenues from the 2.7% last year.

Business Progress:

• 111, Inc. focused on operational efficiency and widened its product assortment in response to changing customer preferences.

• The company is restructuring its operations to achieve more agility and adaptability.

• It prioritizes low pricing and complete digitization of business processes.

• In the healthcare ecosystem, it aids the pharmaceutical industry to navigate challenges from scrutiny on ethical practices.

• Through technological innovations, the company has earned two prestigious recognitions in 2023 Q4.

• The company is listed on the Shanghai Data Exchange, contributing to the digital transformation in healthcare.

• The successful implementation of cost-cutting initiatives led to lower operational costs and increased sales.

• The company anticipates further cost savings and operational efficiency improvements in the coming year.

More details: 111 Inc IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.