SHANGHAI, July 24, 2019 /PRNewswire/ -- 111, Inc. (NASDAQ:
YI) ("111" or the "Company"), a leading integrated online and
offline healthcare platform, today announced the signing of a
strategic cooperation agreement with Harbin Pharmaceutical Group
Holding Co., Ltd. (HPGC, SHSE: 600664), which has selected 111 as
its primary partner for online sales of Over the Counter
(OTC) products. The agreement will enable both companies to
serve customers by providing access to high-quality products and
Dr. Gang Yu, Co-Founder and Executive Chairman of 111,
commented: "The alliance with 111 will help HPGC cover sales
channels outside the public hospital system through our integrated
online and offline healthcare platform. We will provide supply
chain management, marketing and data services. HPGC will gain a
customer-centric service model providing more reliable drugs and
the convenience of online healthcare to its customers."
"HPGC's strong product line includes well-known
brands such as 'SanJing', 'GaiZhongGai' and 'HuTong'. For 111, the
strategic cooperation expands our direct sourcing capabilities and
quality product offerings", said Dr. Yu.
Ms. Xu Haiying, HPGC's General
Manager, added: "For the first time, we will be launching and
promoting our OTC products online as a result of the alliance with
111. This is an inflection point for us as we expand our market,
extend our product reach, and better serve our customers. We will
be paying attention to offline customers as well as our new online
customers as we create a fully integrated online and offline
platform, with 111's help. Our partnership with 111 as an
experienced internet technology player will take us into a new
realm where we can make use of the expertise of both companies to
provide popular products to online customers."
HPGC has been publicly listed on the Shanghai Stock Exchange
since June 1993. The Company is a
large, high-tech pharmaceutical company that manufactures,
distributes, and conducts research and development for
pharmaceutical products in China.
HPGC is also one of the most valuable brands in China's pharmaceutical industry. The Company
acquired a 40.1% equity stake in GNC, a global health and wellness
brand, and purchased the registration, import approval and
exclusive sales rights in China
for six of GNC's products. HPGC optimizes its products structure
through the import of new products and technology transfer.
About Harbin Pharmaceutical Group Co., Ltd.
Harbin Pharmaceutical Group Co., Ltd. (HPGC) is a
state-controlled Sino-foreign equity joint venture. It is composed
of domestically famous pharmaceutical companies like HPGC General
Factory, HPGC Sanjing, HPGC Sixth Factory, HPGC Chinese Medicine,
HPGC Bioengineering and HPGC Vaccine, and commercial circulation
companies like HPGC Medicine, HPGC Sales and HPGC Marketing. HPGC
has two listed companies, HPGC Holding (SHSE: 600664) and HPGC
Sanjing. HPGC owns 45.06% equity stake in HPGC Holding, and HPGC
Holding owns 74.82% equity stake in HPGC Sanjing. HPGC has more
than 20,000 employees, and total assets of 18.5 billion RMB.
For more information on HPGC, please visit
About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading
integrated online and offline healthcare platform in China. The Company provides hundreds of
millions of consumers with better access to pharmaceutical products
and healthcare services directly through its online retail pharmacy
and indirectly through its offline pharmacy network. 111 also
offers online healthcare services through its internet hospital, 1
Clinic, which provides consumers with cost-effective and convenient
online consultation and electronic prescription services. In
addition to providing direct services to consumers through its
online retail pharmacy, 111 also enables offline pharmacies to
better serve their customers. The Company's online wholesale
pharmacy, 1 Drug Mall, serves as a one-stop shop for pharmacies to
source a vast selection of pharmaceutical products. The Company's
new retail platform, by integrating the front and back ends of the
pharmaceutical supply chain, has formed a smart supply chain, which
transforms the flow of pharmaceutical products to pharmacies and
modernizes how they serve their customers.
For more information on 111, please visit
For more information, please contact:
Ms. Monica Mu email@example.com
Mr. Christian Arnell
Ms. Linda Bergkamp
SOURCE 111, Inc.