SHANGHAI, Jan. 8, 2025
/PRNewswire/ -- 111, Inc. ("111" or the "Company") (NASDAQ: YI), a
leading tech-enabled healthcare platform company committed to
reshaping the value chain of healthcare industry by digitally
empowering the upstream and downstream in China, today announced that it plans to change
the ratio of its American Depositary Shares ("ADSs") to Class A
ordinary shares from one (1) ADS representing two (2) Class A
ordinary shares to the new ratio of one (1) ADS representing twenty
(20) Class A ordinary shares.
For the Company's ADS holders, this ratio change will have the
same effect as a one-for-ten reverse ADS split. There will be no
change to 111's underlying Class A ordinary shares, and no Class A
ordinary shares will be issued or cancelled in connection with this
ratio change. No action is required by the Company's ADS holders to
effect the ratio change, as the change will be effected on the
books of the ADS depositary. Following the ratio change, 111's ADSs
will continue to be traded on Nasdaq under the ticker symbol
"YI."
The effect of the ratio change on the ADS trading price on
Nasdaq is expected to take place at the open of business on
January 24, 2025. As a result of the
change in the ADS ratio, the ADS price is expected to increase
proportionally, although the Company can give no assurance that the
ADS price after the change in the ADS ratio will be equal to or
greater than ten times the ADS price before the change.
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 reshaping the
value chain of healthcare industry by digitally empowering the
upstream and downstream 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/.
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SOURCE 111, Inc.