Full Press Release Details
Inc. Announces $10 Million Share Repurchase Program
2021 /PRNewswire/ -- 111, Inc. ("111" or the "Company") (NASDAQ: YI), a leading tech-enabled healthcare
platform company committed to digitally connecting patients with medicine and healthcare services in China, today announced that
its board of directors (the "Board") has authorized a share repurchase program under which the Company may repurchase up to
$10 million of its Class A ordinary shares in the form of American depositary shares ("ADSs") in the next twelve months (collectively,
the "Share Repurchase Program").
Company's proposed repurchases may be made from time to time through open market transactions at prevailing market prices, in privately
negotiated transactions, in block trades and/or through other legally permissible means, depending on the market conditions and in accordance
with applicable rules and regulations. The timing and dollar amount of repurchase transactions will be subject to the Securities and
Exchange Commission (the "SEC") Rule 10b-18 and/or Rule 10b5-1 requirements. The Board will review the Share Repurchase Program
periodically, and may authorize adjustment of its terms and size or suspend or discontinue the program. The Company plans to fund repurchases
from its existing cash balance.
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.
Inc. (NASDAQ: YI) ("111" or the "Company") is a leading tech-enabled healthcare platform company committed to digitally
connecting patients with medicine and healthcare services 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 Marketplace, 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.
more information on 111, please visit: http://ir.111.com.cn/.
more information, please contact:
Phone: +1 646-274-3580
Email: stephen@kilmerlucas.com
Email: ir@111.com.cn
Email: press@111.com.cn
Phone: +86-021-2053 6666 (China)