111, Inc. Secures Compliance Period After Nasdaq Notification
111, Inc. Receives Nasdaq Notification
Recently, 111, Inc. announced the receipt of a notification letter regarding its compliance status from Nasdaq. This tech-savvy healthcare platform is dedicated to enhancing the healthcare value chain, and it has made significant strides in empowering both upstream and downstream sectors. This notification serves as an important update for stakeholders.
Understanding the Notification
The notification letter, dated September 26, 2024, indicated that for a duration of 30 consecutive business days, the closing bid price of the Company’s American depositary shares (ADSs) has dipped below $1.00, which is a requirement set by Nasdaq Listing Rule 5450(a)(1). Despite this temporary setback, it is essential to highlight that this notification has no immediate impact on the trading or listing of 111, Inc. on Nasdaq.
Compliance Timeline
According to Nasdaq Listing Rules, 111, Inc. is given a compliance period of 180 calendar days to rectify the situation, extending until March 24, 2025. If the Company’s ADSs reach the bid price of $1.00 or above for at least ten consecutive business days during this period, Nasdaq will confirm compliance, and the matter will be resolved.
Company Operations Unaffected
111, Inc. remains undeterred by this notification, as its core business operations carry on robustly. The Company is actively monitoring the ADSs’ market price and is committed to taking necessary steps to regain compliance for its shareholders and investors. This determination showcases 111, Inc.'s commitment to its ongoing growth and resilience in the competitive healthcare market.
Healthcare Services and Innovation
The essence of 111, Inc.'s operations lies in being a tech-enabled healthcare platform that bridges gaps within the healthcare delivery system. With its innovative online pharmacy, 1 Pharmacy, and the extensive offline virtual pharmacy network, the Company offers consumers greater access to quality healthcare products and services. This pioneering approach is critical in fostering improvement in health services.
About 111, Inc.
111, Inc. (NASDAQ: YI) is a premier healthcare platform dedicated to enhancing the healthcare industry. By leveraging digital tools, it empowers both healthcare providers and consumers. Its comprehensive solutions include an online retail pharmacy, 1 Pharmacy, as well as an internet hospital, 1 Clinic, which offers online consultations and electronic prescriptions.
Maximizing Patient Access
With a robust virtual pharmacy network, 111, Inc. enables offline pharmacies to serve their communities with efficiency, offering cloud-based services that streamline operations and improve patient engagement. The Company’s platform, 1 Medicine, is a thorough resource for pharmacies looking to optimize their pharmaceutical sourcing, thus directly influencing the accessibility of medications.
Future Outlook
Looking ahead, 111, Inc. is focused on not just regaining compliance but also expanding its services and technological innovations. With the recent notification from Nasdaq, the Company recognizes the critical nature of its stock performance, yet it remains dedicated to prioritizing customer needs and improving healthcare solutions. The strategies implemented in the coming months will significantly influence their market position and stakeholder confidence.
Frequently Asked Questions
What does the Nasdaq notification mean for 111, Inc.?
The Nasdaq notification indicates that the ADSs' price has fallen below the minimum required price, but it does not currently affect trading.
What steps is 111, Inc. taking to comply with Nasdaq regulations?
111, Inc. is monitoring its ADSs price and will implement measures to regain compliance within the given timeframe.
What services does 111, Inc. offer?
111, Inc. provides a range of healthcare solutions, including an online pharmacy, virtual pharmacy network, and telemedicine services.
When is the compliance deadline for 111, Inc.?
The compliance deadline for 111, Inc. is March 24, 2025. The Company has 180 days to meet the minimum bid price requirement.
How does Nasdaq's notification affect 111, Inc.'s business operations?
The Nasdaq notification does not directly impact 111, Inc.’s business operations, which continue robustly while they work toward compliance.
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