111 (YI) Q1 2025 earnings summary

Executive summary

• Net revenues reached RMB3.5 billion (US$486.3 million), remaining flat year-over-year despite macroeconomic headwinds.

• Achieved another quarter of operational profitability and positive operating cash flow.

• Operational efficiency improved, with total operating expenses as a percentage of revenues down 30 basis points year-over-year.

• Strategic focus on technology and digital solutions to enhance supply chain and customer engagement.

Financial highlights

• Net revenues increased marginally by 0.02% year-over-year to RMB3,529 million.

• Gross segment profit was RMB195.1 million, down 6.4% year-over-year due to unfavorable macroeconomic conditions.

• Income from operations was RMB0.1 million, compared to RMB3.7 million in the same quarter last year.

• Net loss was RMB7.3 million, compared to RMB2.7 million in the same quarter last year.

• Non-GAAP net loss was RMB3.2 million, versus non-GAAP net income of RMB2.5 million a year ago.

Outlook and guidance

• Management remains focused on leveraging technology and digital solutions to drive long-term growth.

• Plans to invest in AI and digital tools to enhance supply chain and customer experience.