111 Reports Record-Breaking Earnings for Q2 Fiscal Year 2023
August 27, 2023
🌥️Earnings Overview
On June 30, 2023, 111 ($NASDAQ:YI) reported their financial results for the second quarter of the fiscal year 2023. Total revenue was CNY 3477.5 million, a 14.5% year-over-year increase. Net income for the quarter was CNY -57.2 million, a significant improvement from the -95.3 million reported in the same period in the previous year.
Stock Price
On Thursday, 111 reported record-breaking earnings for Q2 of Fiscal Year 2023, with stock opening at $3.0 and closing at $2.8. This represented a drop of 5.3% from its last closing price of $2.9. Despite this, analysts were impressed with the growth in earnings that 111 reported and believe the report signals good news for shareholders. The company’s CEO stated that they are dedicated to continuing to build on the success that has been achieved in the second quarter of this fiscal year. With the new investments they have made in R&D and strategic growth, they are confident they will see continued positive returns in the future.
Overall, investors are encouraged by the positive news that 111 shared and are optimistic about the company’s future prospects. With increased investments in research and development, they have positioned themselves for future success in the coming quarters. The potential for growth in new markets provides great potential for investors and shareholders alike, signaling that now may be a great time to invest in 111. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for 111. More…
| Total Revenues | Net Income | Net Margin |
| 14.67k | -300.3 | -2.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for 111. More…
| Operations | Investing | Financing |
| -210.41 | 69.01 | 74.84 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for 111. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.05k | 2.41k | -5.31 |
Key Ratios Snapshot
Some of the financial key ratios for 111 are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 37.4% | – | -1.6% |
| FCF Margin | ROE | ROA |
| -1.7% | 34.3% | -4.9% |
Analysis
GoodWhale has conducted an analysis of 111‘s wellbeing and the results indicate that 111 has a low health score of 3/10 when considering its cashflows and debt. This suggests that 111 is less likely to safely ride out any crisis without the risk of bankruptcy. Upon further examination, we have classified 111 as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this, 111 is likely to be attractive to investors who are looking for capital appreciation opportunities through a more aggressive approach such as trading or venture capital. The company is strong in growth, medium in asset and weak in dividend and profitability. Therefore investors with the ability to tolerate higher levels of risk would be suitable for investing in 111’s stock. More…
Peers
The company has a strong presence in the Chinese healthcare market and competes with other leading players such as China Jo-Jo Drugstores Inc, Health Advance Inc and Zur Rose Group AG. These companies are all well established providers of healthcare services, offering their respective customers a variety of products and services to choose from.
– China Jo-Jo Drugstores Inc ($NASDAQ:CJJD)
China Jo-Jo Drugstores Inc is a leading Chinese national retail drugstore chain that was founded in 2002. It is one of the largest retail drugstore chains in China, with more than 2,000 stores and sales outlets in over 200 cities across the country. As of 2022, the company has a market capitalization of 33.72M. Its Return on Equity (ROE) stands at -4.61%, indicating that the company is not generating a positive return on its shareholders’ investments. Despite this, China Jo-Jo Drugstores Inc’s strong presence in the Chinese market and its aggressive expansion plans make it an attractive investment option.
– Health Advance Inc ($OTCPK:HADV)
Health Advance Inc is a healthcare provider specializing in providing comprehensive and quality care to its patients. The company’s market capitalization stands at 984.94k as of 2022, which reflects its growth and stability in the industry. Its Return on Equity (ROE) of 57.91% is indicative of the company’s efficient use of its assets and capital to generate profits. Health Advance Inc’s impressive market cap and ROE are a testament to its continued success in providing quality care to its patients.
– Zur Rose Group AG ($LTS:0RRB)
Zur Rose Group AG is a Swiss e-commerce and mail-order pharmacy, providing customers with prescription and non-prescription medications, health and beauty products, and medical products. As of 2022, the company has a market capitalization of 357.78 million Swiss francs, indicating its value on the stock market. Furthermore, Zur Rose Group AG has a negative return on equity (ROE) of -29.55%, which is below average, indicating that the company’s management is not efficiently utilizing its shareholders’ equity to generate profits.
Summary
Investors reacted negatively to 111’s second quarter earnings results for the fiscal year 2023, with the stock price dropping on June 30, 2023. The company reported a total revenue of CNY 3477.5 million, a year-over-year increase of 14.5%. Net income for the quarter showed improvement from the same period last year, with CNY -57.2 million compared to -95.3 million. Overall, 111’s second quarter results were mixed, with positive revenue growth but a still-negative net income.
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