111, Inc. Announces ADS Ratio Change
111, Inc. (NASDAQ: YI), a trailblazer in the healthcare technology sector, has revealed its intention to adjust the ratio of its American Depositary Shares (ADSs) to Class A ordinary shares. This pivotal change comes in light of the Company's ongoing efforts to enhance its market presence and demonstrate its commitment to shareholders. As it stands, one ADS will now represent twenty Class A ordinary shares, a significant shift from the previous ratio of one ADS to two Class A shares.
Impact on Shareholders
This alteration in the ADS structure essentially functions as a one-for-ten reverse ADS split, yet it has no impact on the underlying Class A ordinary shares. Importantly, existing ADS holders do not need to take any actions; the change will be accomplished on the books of the ADS depositary, ensuring a seamless transition.
Trading Dynamics Following the Ratio Change
The expected date for this change to affect trading prices on Nasdaq is during the opening session of business on January 24, 2025. With this new ratio, a proportional increase in ADS prices is anticipated. However, the Company notes that it cannot guarantee that the ADS price will rise to ten times its price before the ratio change.
About 111, Inc.
111, Inc. stands at the forefront of the healthcare technology industry, aiming to streamline and elevate the healthcare value chain through digital solutions. This innovative Company operates several platforms that empower consumers and improve service delivery. Through its online retail pharmacy, 1 Pharmacy, consumers gain direct access to pharmaceutical products, while its virtual pharmacy network facilitates easier procurement of healthcare services.
Online Healthcare Services
In addition to providing pharmaceutical access, 111, Inc. offers comprehensive healthcare services through its internet hospital, 1 Clinic. This platform enables convenient online consultations, electronic prescriptions, and effective patient management. These features exemplify the Company’s dedication to providing cost-effective healthcare solutions that cater to modern demands.
Support for Pharmacies
With the largest virtual pharmacy network in the nation, 111, Inc. enhances the capabilities of offline pharmacies through cloud-based services. This enables these pharmacies to better serve their customers, ensuring the accessibility of essential medicines and healthcare products. Moreover, 111 offers a commercial platform supporting digital marketing, patient education, data analytics, and adaptive pricing monitoring to its strategic partners.
Frequently Asked Questions
What is the new ratio for 111, Inc.'s ADSs?
The new ratio is one ADS representing twenty Class A ordinary shares, changing from the previous ratio of one ADS to two Class A shares.
How will this change affect existing shareholders?
The change will function similarly to a reverse split but will not disrupt the existing Class A shares. No action is required from shareholders for this adjustment.
When will the impact of the ratio change be felt in trading?
The effect on the price is anticipated to be visible at the market open on January 24, 2025.
What is 111, Inc.'s main area of focus?
111, Inc. focuses on reshaping the healthcare industry in China through tech-enabled solutions, including online pharmacies and healthcare services.
What services does 111, Inc. provide through its online platforms?
The Company offers access to pharmaceutical products, online consultations, and resources for pharmacies, ultimately enhancing healthcare accessibility for consumers.
