← 111, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||
| Current assets: | ||||||||||
| Cash and Cash Equivalents, at Carrying Value | $167.7m | $124.2m | $83.5m | $182.3m | $103.8m | $97.7m | $85.0m | $63.3m | $73.1m | |
| Prepaid Expense and Other Assets, Current | $104.8m | $23.4m | $30.0m | $47.8m | $38.0m | $40.9m | $31.8m | $34.5m | $28.1m | |
| Cash and cash equivalents | $167.7m | $853.7m | $581.3m | $1.2b | $661.4m | $673.7m | $603.5m | $462.3m | $511.0m | |
| Short-term investments measured at fair value | $293.5m | $252.8m | — | $300.2m | $182.6m | $205.9m | $50.1m | — | $50.0m | |
| Accounts receivable, net of allowance of credit loss of RMB3,223 and RMB6,355 as of December 31, 2024 and 2025, respectively | $20.4m | $28.6m | $65.2m | $163.1m | $404.5m | $488.9m | $536.8m | $413.1m | $259.7m | |
| Notes receivable | — | — | $23.6m | $12.6m | $90.7m | $43.3m | $77.6m | $78.8m | $58.6m | |
| Prepayments and other current assets | $104.8m | $161.1m | $208.6m | $311.8m | $242.2m | $282.1m | $225.8m | $252.0m | $196.8m | |
| Accounts Receivable | — | — | — | — | — | $488.9m | $536.8m | $413.1m | $259.7m | |
| Allowance For Doubtful Accounts Receivable | — | — | — | — | — | ($3.6m) | ($4.3m) | ($3.2m) | ($6.4m) | |
| Cash Cash Equivalents And Short Term Investments | — | — | — | — | — | $879.5m | $653.7m | $462.3m | $561.0m | |
| Gross Accounts Receivable | — | — | — | — | — | $492.5m | $541.1m | $416.3m | $266.0m | |
| Other Current Assets | — | — | — | — | — | $7.5m | $9.4m | $6.8m | $16.7m | |
| Other Receivables | — | — | — | — | — | $136.5m | $107.8m | $83.0m | $74.8m | |
| Other Short Term Investments | — | — | — | — | — | $205.9m | $50.1m | $0 | $50.0m | |
| Prepaid Assets | — | — | — | — | — | $86.4m | $54.3m | $106.4m | $63.5m | |
| Taxes Receivable | — | — | — | — | — | $51.6m | $54.3m | $55.8m | $41.8m | |
| Inventory, Net | $144.1m | $30.7m | $69.8m | $117.5m | $175.9m | $217.3m | $199.9m | $190.1m | $142.8m | |
| Assets, Current | $730.5m | $219.2m | $212.8m | $440.3m | $439.7m | $469.2m | $413.1m | $363.0m | $303.9m | |
| Total current assets | $730.5m | $1.5b | $1.5b | $2.9b | $2.8b | $3.2b | $2.9b | $2.6b | $2.1b | |
| Property, Plant and Equipment, Net | $17.0m | $3.0m | $4.3m | $6.7m | $12.6m | $7.0m | $4.8m | $4.5m | $3.0m | |
| Intangible Assets, Net (Excluding Goodwill) | $4.8m | $655k | $1.2m | $999k | $770k | $474k | $318k | $197k | $124k | |
| Intangible assets, net | $4.8m | $4.5m | $8.0m | $6.5m | $4.9m | $3.3m | $2.3m | $1.4m | $868k | |
| Goodwill And Other Intangible Assets | — | — | — | — | — | $3.3m | $2.3m | $1.4m | $868k | |
| Operating Lease, Right-of-Use Asset | — | — | $12.6m | $15.1m | $36.7m | $23.8m | $14.6m | $12.2m | $6.3m | |
| Other Assets, Noncurrent | — | $491k | $432k | $776k | $3.5m | $3.0m | $1.9m | $2.0m | $1.3m | |
| Operating lease right-of-use assets | — | — | $87.9m | $98.6m | $233.8m | $163.9m | $103.8m | $89.1m | $44.1m | |
| Additional Financial Items | ||||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $20.4m | $4.2m | $9.4m | $25.0m | $63.5m | $70.9m | $75.6m | $56.6m | $37.1m | |
| Restricted cash | — | — | $116.4m | $128.9m | $99.3m | $43.1m | $20.0m | $56.0m | $50.3m | |
| Other non-current assets | — | $3.4m | $3.0m | $5.1m | $22.1m | $20.3m | $13.3m | $14.7m | $9.3m | |
| Short-term borrowings | — | $0 | $95.1m | $229.2m | $259.7m | $179.0m | $338.1m | $161.0m | $187.6m | |
| Accrued expenses and other current liabilities | $73.0m | $102.3m | $234.0m | $327.1m | $523.0m | $781.3m | $818.3m | $460.2m | $483.7m | |
| Long-term operating lease liabilities | — | — | $57.0m | $62.4m | $165.6m | $100.5m | $62.6m | $55.4m | $30.0m | |
| Other non-current liabilities | — | $8.1m | $5.9m | $3.7m | $1.5m | — | $5.2m | $9.0m | $2.2m | |
| Redeemable non-controlling interests | — | — | — | $924.2m | $1.0b | $1.1b | $870.8m | $1.0b | $935.9m | |
| Ordinary shares, value | $25k | $54k | $55k | $55k | $56k | $56k | $57k | $58k | $59k | |
| Treasury shares (333,000 shares as of December 31, 2024 and 2025) | — | — | ($23.0m) | ($35.0m) | ($40.9m) | ($40.9m) | ($5.9m) | ($5.9m) | ($5.9m) | |
| Non-controlling interests | $1.4m | ($512k) | ($2.7m) | $49.0m | $21.2m | $5.9m | ($11.3m) | ($15.5m) | ($19.3m) | |
| Accumulated Depreciation | — | — | — | — | — | ($117.4m) | ($135.6m) | ($79.2m) | ($80.2m) | |
| Buildings And Improvements | — | — | — | — | — | $163.9m | $103.8m | $89.1m | $44.1m | |
| Capital Lease Obligations | — | — | — | — | — | $165.2m | $105.2m | $95.8m | $49.1m | |
| Current Accrued Expenses | — | — | — | — | — | $80.0m | $78.1m | $57.8m | $48.3m | |
| Current Capital Lease Obligation | — | — | — | — | — | $64.7m | $42.5m | $40.3m | $19.1m | |
| Current Debt | — | — | — | — | — | $179.0m | $338.1m | $161.0m | $187.6m | |
| Current Debt And Capital Lease Obligation | — | — | — | — | — | $243.7m | $380.6m | $201.3m | $206.7m | |
| Current Deferred Liabilities | — | — | — | — | — | $323.6m | $153.5m | $185.9m | $143.7m | |
| Finished Goods | — | — | — | — | — | $1.5b | $1.4b | $1.4b | $998.5m | |
| Gross PPE | — | — | — | — | — | $329.8m | $273.8m | $201.2m | $145.4m | |
| Invested Capital | — | — | — | — | — | ($235.6m) | ($245.4m) | ($481.7m) | ($514.6m) | |
| Investments And Advances | — | — | — | — | $3.0m | $2.0m | $2.0m | $0 | — | |
| Line Of Credit | — | — | — | — | — | $179.0m | $338.1m | $161.0m | $187.6m | |
| Long Term Capital Lease Obligation | — | — | — | — | — | $100.5m | $62.6m | $55.4m | $30.0m | |
| Net PPE | — | — | — | — | — | $212.4m | $138.1m | $122.0m | $65.2m | |
| Net Tangible Assets | — | — | — | — | — | ($417.9m) | ($585.7m) | ($644.1m) | ($703.1m) | |
| Ordinary Shares Number | — | — | — | — | — | $167.0m | $171.0m | $172.9m | $175.7m | |
| Other Current Liabilities | — | — | — | — | — | $190.5m | $218.4m | $90.5m | $46.1m | |
| Other Equity Adjustments | — | — | — | — | — | $75.6m | $72.5m | $74.4m | $72.6m | |
| Other Payable | — | — | — | — | — | $84.7m | $318.8m | $81.4m | $223.7m | |
| Other Properties | — | — | — | — | — | $165.9m | $273.8m | $112.1m | $101.3m | |
| Properties | — | — | — | — | — | $0 | $0 | $0 | $0 | |
| Share Issued | — | — | — | — | — | $169.4m | $171.4m | $173.2m | $176.0m | |
| Tangible Book Value | — | — | — | — | — | ($417.9m) | ($585.7m) | ($644.1m) | ($703.1m) | |
| Treasury Shares Number | — | — | — | — | — | $2.3m | $333k | $333k | $333k | |
| Working Capital | — | — | — | — | — | $510.7m | $188.3m | $307.1m | $171.2m | |
| Accrued Liabilities, Current | — | — | — | — | — | $80.0m | $78.1m | $57.8m | $48.3m | |
| Total 111, Inc.'s deficit | ($946.1m) | $1.2b | $776.7m | $357.4m | ($173.3m) | ($414.6m) | ($583.5m) | ($642.6m) | ($702.2m) | |
| Total deficit | ($944.7m) | $1.2b | $773.9m | $406.4m | ($152.1m) | ($408.7m) | ($594.7m) | ($658.2m) | ($721.5m) | |
| Total Capitalization | — | — | — | — | — | ($414.6m) | ($583.5m) | ($642.6m) | ($702.2m) | |
| Total Debt | — | — | — | — | — | $344.2m | $443.2m | $256.8m | $236.7m | |
| Total Non Current Assets | — | — | — | — | — | $238.0m | $155.7m | $138.1m | $75.4m | |
| Total Tax Payable | — | — | — | — | — | $37.7m | $6.9m | $4.2m | $2.9m | |
| Assets | $763.4m | $224.9m | $231.3m | $463.8m | $493.6m | $503.7m | $435.1m | $381.9m | $314.6m | |
| Total assets | $763.4m | $1.5b | $1.6b | $3.0b | $3.1b | $3.5b | $3.1b | $2.8b | $2.2b | |
| LIABILITIES AND EQUITY | ||||||||||
| Current liabilities: | ||||||||||
| Operating Lease, Liability, Current | — | — | $31.1m | $37.7m | $65.7m | $64.7m | $42.5m | $40.3m | $19.1m | |
| Accounts Payable, Current | $128.1m | $30.9m | $63.8m | $164.5m | $211.4m | $255.9m | $223.8m | $235.8m | $183.4m | |
| Operating Lease, Liability, Noncurrent | — | — | $8.2m | $9.6m | $26.0m | $14.6m | $8.8m | $7.6m | $4.3m | |
| Current Deferred Revenue | — | — | — | — | — | $323.6m | $153.5m | $185.9m | $143.7m | |
| Payables And Accrued Expenses | — | — | — | — | — | $2.0b | $2.0b | $1.9b | $1.6b | |
| Liabilities, Current | $201.2m | $45.7m | $111.1m | $249.8m | $334.2m | $395.1m | $386.6m | $320.9m | $279.4m | |
| Total current liabilities | $201.2m | $314.5m | $773.4m | $1.6b | $2.1b | $2.7b | $2.7b | $2.3b | $2.0b | |
| Other Liabilities, Noncurrent | — | $1.2m | $853k | $573k | $241k | — | $739k | $1.2m | $312k | |
| Long Term Debt And Capital Lease Obligation | — | — | — | — | — | $100.5m | $62.6m | $55.4m | $30.0m | |
| Liabilities | $201.2m | $46.9m | $120.1m | $259.9m | $360.5m | $409.7m | $396.2m | $329.8m | $284.0m | |
| Total liabilities | $201.2m | $322.7m | $836.4m | $1.7b | $2.3b | $2.8b | $2.8b | $2.4b | $2.0b | |
| Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | — | — | — | $141.6m | $157.1m | $153.2m | $122.7m | $142.3m | $133.8m | |
| Stockholders’ equity: | ||||||||||
| Additional Paid in Capital | $12.1m | $369.6m | $2.6b | $2.7b | $2.8b | $3.0b | $3.2b | $3.2b | $3.2b | |
| Retained Earnings (Accumulated Deficit) | ($1.0b) | ($201.3m) | ($270.5m) | ($358.6m) | ($472.3m) | ($496.8m) | ($537.9m) | ($532.1m) | ($564.9m) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $47.5m | $9.8m | $11.0m | $9.6m | $9.3m | $11.0m | $10.2m | $10.2m | $10.4m | |
| Additional Paid in Capital, Common Stock | — | — | $374.4m | $409.1m | $442.2m | $431.6m | $446.4m | $434.7m | $454.9m | |
| Treasury Stock, Common, Value | — | — | $3.3m | $5.4m | $6.4m | $5.9m | $829k | $807k | $842k | |
| Accumulated deficit | ($1.0b) | ($1.4b) | ($1.9b) | ($2.3b) | ($3.0b) | ($3.4b) | ($3.8b) | ($3.9b) | ($4.0b) | |
| Accumulated other comprehensive income | $47.5m | $67.1m | $76.4m | $62.9m | $59.4m | $75.6m | $72.5m | $74.4m | $72.6m | |
| Capital Stock | — | — | — | — | — | $56k | $57k | $58k | $59k | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | — | — | $75.6m | $72.5m | $74.4m | $72.6m | |
| Treasury Stock | — | — | — | — | — | $40.9m | $5.9m | $5.9m | $5.9m | |
| Stockholders' Equity Attributable to Parent | ($946.1m) | $178.1m | $111.6m | $54.8m | ($27.2m) | ($60.1m) | ($82.2m) | ($88.0m) | ($100.4m) | |
| Stockholders' Equity Attributable to Noncontrolling Interest | $1.4m | ($74k) | ($393k) | $7.5m | $3.3m | $855k | ($1.6m) | ($2.1m) | ($2.8m) | |
| Minority Interest | — | — | — | — | — | $1.1b | $859.6m | $1.0b | $916.7m | |
| Total Equity Gross Minority Interest | — | — | — | — | — | $648.2m | $276.1m | $380.8m | $214.4m | |
| Total Non Current Liabilities Net Minority Interest | — | — | — | — | — | $100.5m | $67.9m | $64.4m | $32.1m | |
| Liabilities and Equity | $763.4m | $224.9m | $231.3m | $463.8m | $493.6m | $503.7m | $435.1m | $381.9m | $314.6m | |
| Total liabilities, mezzanine equity and equity | $763.4m | $1.5b | $1.6b | $3.0b | $3.1b | $3.5b | $3.1b | $2.8b | $2.2b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.