SHANGHAI, Nov. 4, 2024
/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 Dr. Leon Lian Yong Chen has tendered his resignation
from the position as the Company's director for personal reasons,
effective on November 4, 2024. The
board has also appointed Mr. Yang "Luke" Chen, currently serving as
the Company's Senior Finance Executive, as a new director,
effective November 4, 2024.
Dr. Lian Yong Chen has served on
the board of directors of the Company since May 2019. "I am grateful to Dr. Chen for his
significant contributions during his term of office. His knowledge
and advice have been invaluable in propelling our goals and
strategies for long-term achievements. On behalf of the board, I
extend best wishes to Dr. Chen and look forward to further
collaborating with him in the future," said Mr. Gang Yu, Co-Founder
and Executive Chairman of the Company.
Regarding the appointment of Mr. Yang "Luke" Chen, Mr. Gang Yu
added, "We are delighted to welcome Luke to our board of directors.
His extensive financial expertise and deep understanding of our
business will be instrumental as we continue to drive our strategic
initiatives forward. I am confident that his leadership and
insights will contribute to our ongoing success and growth."
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. 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.
