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ADDITIONAL FINANCIAL INFORMATION - FINANCIAL STATEMENTS SCHEDULE I
12 Months Ended
Dec. 31, 2025
ADDITIONAL FINANCIAL INFORMATION - FINANCIAL STATEMENTS SCHEDULE I  
ADDITIONAL FINANCIAL INFORMATION - FINANCIAL STATEMENTS SCHEDULE I

ADDITIONAL FINANCIAL INFORMATION - FINANCIAL STATEMENTS SCHEDULE I

111, INC.

FINANCIAL INFORMATION FOR PARENT COMPANY

CONDENSED BALANCE SHEETS

(Amounts in thousands)

​

​

​

​

​

​

​

​

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2025

​

​

RMB

​

RMB

​

US$

​

​

​

​

​

​

(Note 2 (ai))

ASSETS

​

​

​

​

​

​

Current assets:

 

  ​

 

  ​

 

  ​

Cash and cash equivalents

 

58,086

 

41,040

 

5,869

Prepayments and other current assets

 

671

 

328

 

47

Total current assets

 

58,757

 

41,368

 

5,916

Total assets

 

58,757

 

41,368

 

5,916

​

​

​

​

​

​

​

LIABILITIES AND EQUITY

​

​

​

​

​

​

Other current liabilities

​

600

​

858

​

123

Amount due to subsidiaries

​

20,820

​

19,830

​

2,836

Deficit in subsidiaries

​

679,981

​

722,914

​

103,375

Total liabilities

​

701,401

​

743,602

​

106,334

​

​

​

​

​

​

​

SHAREHOLDERS’ DEFICIT

 

​

 

​

 

​

Ordinary shares Class A

 

33

 

34

 

5

Ordinary shares Class B

 

25

 

25

 

3

Treasury shares

​

(5,887)

 

(5,887)

 

(842)

Additional paid-in capital

 

3,172,820

 

3,181,343

 

454,926

Accumulated deficit

 

(3,883,992)

 

(3,950,384)

 

(564,897)

Accumulated other comprehensive income

 

74,357

 

72,635

 

10,387

Total shareholders’ deficit

 

(642,644)

 

(702,234)

 

(100,418)

Total liabilities and shareholders’ deficit

 

58,757

 

41,368

 

5,916

​

​

ADDITIONAL FINANCIAL INFORMATION - FINANCIAL STATEMENTS SCHEDULE I

111, INC.

FINANCIAL INFORMATION FOR PARENT COMPANY

CONDENSED STATEMENTS OF COMPREHENSIVE LOSS

(Amounts in thousands, unless otherwise stated)

​

​

​

​

​

​

​

​

​

​

​

Years Ended December 31, 

​

  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2025

​

​

RMB

​

RMB

​

RMB

​

US$

​

​

​

​

​

​

​

​

(Note 2 (ai))

Operating expenses:

​

  ​

 

  ​

 

  ​

 

  ​

General and administrative expenses

​

(19,303)

 

(1,767)

 

(8,936)

 

(1,278)

Interest income

​

1,772

​

410

​

1,193

​

171

Other operating expenses, net

​

—

 

(63)

 

—

 

—

Other income, net

​

3,546

​

4,574

​

2,957

​

423

(Loss) Profit before tax and loss from investment in subsidiaries and former VIE

​

(13,985)

​

3,154

​

(4,786)

​

(684)

​

​

​

​

​

​

​

​

​

Equity in loss from subsidiaries and share of loss in former VIE

 

(378,708)

 

(67,897)

 

(61,606)

 

(8,810)

Net loss attributable to ordinary shareholders

 

(392,693)

 

(64,743)

 

(66,392)

​

(9,494)

​

​

​

​

​

​

​

​

​

Other comprehensive income (loss) (net of tax of nil)

​

​

 

​

 

​

 

​

Realized securities holding gains

​

(640)

​

—

​

—

​

—

Foreign currency translation adjustments

​

(3,249)

 

1,986

 

(1,753)

​

(251)

Unrealized securities holding gains of subsidiaries and former VIE

​

4,343

 

1,074

 

677

​

97

Realized securities holding gains of subsidiaries and former VIE

​

(3,526)

​

(1,217)

​

(646)

​

(92)

Comprehensive loss

​

(395,765)

 

(62,900)

 

(68,114)

​

(9,740)

​

​

ADDITIONAL FINANCIAL INFORMATION - FINANCIAL STATEMENTS SCHEDULE I

111, INC.

FINANCIAL INFORMATION FOR PARENT COMPANY

CONDENSED STATEMENTS OF CASH FLOWS

(Amounts in thousands, unless otherwise stated)

​

​

​

​

​

​

​

​

​

​

​

Years Ended December 31, 

​

  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2025

​

​

RMB

​

RMB

​

RMB

​

US$

​

​

​

​

​

​

​

​

(Note 2 (ai))

Operating activities:

 

  ​

 

  ​

 

  ​

 

  ​

Net loss

 

(392,693)

 

(64,743)

 

(66,392)

​

(9,494)

Adjustments to reconcile net income to net cash provide used in operating activities:

 

​

 

​

 

​

​

​

Share of loss of subsidiaries and former VIE

 

378,708

 

67,897

 

61,606

​

8,810

Other current liabilities

​

5,007

​

(9,682)

​

(3,639)

​

(521)

Net cash used in operating activities

 

(8,978)

 

(6,528)

 

(8,425)

​

(1,205)

​

​

​

​

​

​

​

​

​

Investing activities:

 

​

 

​

 

​

 

​

Proceeds from sale or maturity of short-term investments

​

57,434

​

—

​

—

​

—

Net cash provided by investing activities

 

57,434

 

—

 

—

 

—

​

​

​

​

​

​

​

​

​

Financing activities:

 

​

 

​

 

​

 

​

Proceeds from ordinary shareholders

 

223

 

14

 

745

​

107

Proceeds from loan from subsidiaries

​

167,414

​

—

​

—

​

—

Payment for loan from subsidiaries

​

(54,229)

​

(102,683)

​

(9,008)

​

(1,288)

Net cash provided by (used in) financing activities

 

113,408

 

(102,669)

 

(8,263)

​

(1,181)

Effect of exchange rate changes on cash and cash equivalents, and restricted cash

 

205

 

341

 

(358)

​

(51)

Net increase (decrease) in cash and cash equivalents

 

162,069

 

(108,856)

 

(17,046)

​

(2,437)

Cash and cash equivalents at the beginning of the year

 

4,873

 

166,942

 

58,086

​

8,306

Cash and cash equivalents at the end of the year

 

166,942

 

58,086

 

41,040

​

5,869

​

​

ADDITIONAL FINANCIAL INFORMATION - FINANCIAL STATEMENTS SCHEDULE I

111, INC.

FINANCIAL INFORMATION FOR PARENT COMPANY

Note to Schedule I

Schedule I has been provided pursuant to the requirements of Rule 12-04(a) and 5-04-(c) of Regulation S-X, which require condensed financial information as to the financial position, change in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year.

The condensed financial information has been prepared using the same accounting policies as set out in the consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries and former VIE. For the parent company, the Group records its investments in subsidiaries and former VIE under the equity method of accounting as prescribed in ASC 323, Investments—Equity Method and Joint Ventures. Ordinarily under the equity method, an investor in an equity method investee would cease to recognize its share of the losses of an investee once the carrying value of the investment has been reduced to nil absent an undertaking by the investor to provide continuing support and fund losses. For the purpose of Schedule I, the parent company has continued to reflect its share, based on its proportionate interest, the losses of subsidiaries and former VIE regardless of the carrying value of the investment even though the parent company is not obligated to provide continuing support or fund losses.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the accompanying financial statements.

As of December 31, 2025, there are no material contingencies, mandatory dividend and significant provisions for long-term obligations or guarantees of the Company, except for those which have separately disclosed in the financial statements.