SHANGHAI, Feb. 24, 2020 /PRNewswire/ -- Businesses across China need to secure epidemic supplies such as face masks and disinfectant to re-open factories and offices. Now they will be able to turn to 111, Inc. (NASDAQ: YI) ("111" or the "Company"), a leading integrated online and offline healthcare platform. 111 announced its "Medical Supply Assurance Service" today, which enables business owners to use 111's online platforms to submit applications for protective materials against COVID-19 contagion as well as free online consultations, prescription refills, and customized healthcare service packages.
Dr. Gang Yu, Co-Founder and Executive Chairman of 111 Said: "We are launching our epidemic supplies service in response to the government's call to the nation to open for business despite the epidemic. This new service for businesses affected by the public health crisis provides supplies and customized services that are urgently needed now to protect against the epidemic."
The Shanghai Pudong district is one of the factories and commercial zones that may benefit from 111's new service, including its Zhangjiang Hi-Tech Park, which specializes in life sciences, software, semiconductors and information technology. Ms. Qin Cai, manager of the Zhangjiang Sub-branch of China CITIC Bank, said: "The Zhangjiang Hi-Tech Park hosts a large number of companies, and many of them are eagerly looking for novel coronavirus protective supplies in order to resume work. 111's new service is timely and exactly speaks to their needs. I would definitely recommend it to these companies."
The new emergency supply service makes use of 111's proprietary smart supply chain to ensure prompt delivery of protective supplies and prescription drug refills to its users. The smart supply chain uses big data analytics for intelligent sales prediction, inventory management, product delivery, and tracking of each SKU. 111's warehouses are automated to maximize efficiency. 111 is also working with express delivery companies to fast track drug delivery to customers in the epidemic-hit province.
Safe Harbor Statement
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 integrated online and offline healthcare platform in China. The Company provides hundreds of millions of consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy and indirectly through its offline pharmacy network. 111 also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation and electronic prescription services. In addition to providing direct services to consumers through its online retail pharmacy, 111 also enables offline pharmacies to better serve their customers. The Company's online wholesale pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. The Company's new retail platform, by integrating the front and back ends of the pharmaceutical supply chain, has formed a smart supply chain, which transforms the flow of pharmaceutical products to pharmacies and modernizes how they serve their customers.
For more information on 111, please visit http://ir.111.com.cn/.
For more information, please contact:
Ms. Monica Mu
Mr. Christian Arnell
Ms. Linda Bergkamp
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