111 posts FY26 Q2 net loss of RMB 31.7 million; revenue drops 28.3% to RMB 2.3 billion
YI•Second-quarter results and business mix shift
- 111 posted Q2 net revenues of RMB 2.3 billion, down 28.3% year over year, citing its shift to an asset-light model.
- Operating loss was RMB 23.2 million, swinging from operating income a year earlier, while net loss widened to RMB 31.7 million.
- Promotional products net revenue more than doubled to RMB 60.7 million, and gross profit rose 120%, with Cravit quarterly revenue up 157%.
- Fulfillment expenses fell 29.5% to RMB 63.6 million, and improved to 2.76% of net revenues from 2.81%.
- Management said AI agents enabled workforce streamlining, while total marketplace service revenue rose 18.2% in the first half.
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