Yao Wang's Q1 FY2024 net profit is -13.775 million yuan, a 56.66% increase year-over-year.

On May 23rd, 1YaoWang (Stock Code: YI) announced its financial report, showing that the company’s net profit attributable to ordinary shareholders for Q1 of fiscal year 2024 was -13.775 million yuan, a year-on-year increase of 56.66%; operating revenue was 3.528 billion yuan, a decrease of 4.55% year-on-year.

1YaoWang Co., Ltd. (formerly known as YiYaoWang), was established in July 2010, and is affiliated with the 111 Group. It is a medical platform used by a vast number of users, and one of China’s first online pharmacies to obtain the “Internet Drug Transaction Permit” issued by the National Medical Products Administration. It provides customers with a one-stop “Medical + Pharmacy” convenient experience. 1YaoWang has always been committed to using internet thinking to enter the digital and mobile healthcare fields, solving the problems of “difficult to see a doctor, expensive to buy medicine” for the Chinese people, and creating greater social value. Relying on the core advantages of 111 Group’s cloud platform solutions, intelligent supply chain, big data, and medical professional capabilities, 1YaoWang has built core competitiveness in platform operation, product procurement, supply chain management, medical services, customer experience, and warehousing and distribution. Leveraging unique resources and platform advantages from direct sourcing of medicines and online e-commerce, 1YaoWang sincerely offers benefits to customers, guaranteeing the same quality of medicines at lower sales prices, attracting more and more patients to purchase medicines online. Through direct cooperation with pharmaceutical manufacturers, 1YaoWang reduces middlemen in supply chain management, achieving an efficient and transparent management model, while also ensuring genuine products and safety for customers.

(Source: Tonghuashun (300033) iFinD)