SHANGHAI, Sept. 12, 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 Dong-E-E-Jiao Co., Ltd.
("DEEJ") (SZ: 000423), a leading company principally engaged in the
research, development, production and sale of traditional Chinese
medicines of Ejiao and Ejiao series products in China. DEEJ has selected 111 as its strategic
omni-channel and direct sourcing partner, and will provide
exclusive customized products to 111. This cooperation will further
enrich 111's product offerings to better serve an increasing
customer demand for more variety, and promote 111's platform by
further focusing on a "customer-centric" model.
A traditional Chinese medicine with a long history in
China, Ejiao is used to treat a
variety of conditions. As the leading brand in China's Ejiao industry, DEEJ enjoys strong
market awareness and brand influence. It is now a high-tech
innovation company with synthetic drugs, health supplements and
biologics, with total assets of more than RMB10 billion.
Dr. Gang Yu, Co-Founder and Executive Chairman of 111, stated:
"With the launch of the country's 'Healthy China' strategy,
China's medical and healthcare
service has been increasing its focus on a 'health-centric'
management model. Driven by this trend, nutritional supplements and
healthcare products will have a greater market demand. Our
cooperation with DEEJ is built upon our strategic plan for the
foreseeable future, and both parties are highly complementary and
will jointly develop an integrated online and offline market for
Mr. Yufeng Qin, President of
DEEJ, said, "DEEJ has built an extensive network of offline
retailers in China since our
establishment 60 years ago. We are fully embracing the online
healthcare retail trend through our new strategic cooperation with
111. With the implementation of the new Drug Administration
Law, we can expect online distribution and retail channels to
become more even prominent. We are happy to have this opportunity
to be pioneers in the online and offline development of retail
traditional Chinese medicine."
On August 30, the National
Healthcare Security Administration (NHSA) issued its Guidance on
Improving the Policies on "Internet+" Healthcare Service Pricing
and Medical Insurance System Payment to encourage the
healthcare industry to rely on the new "Internet+" model to
improve cost efficiency, undergird innovation and better meet the
requirements of the different layers of the healthcare industry.
"Internet+" pricing will be included in the existing healthcare
service pricing management system, and "Internet+" medical services
meeting certain criteria would be paired public medical insurance
payment system in accordance with the principle of fair online and
offline pricing. NHSA is restructuring competition in the national
healthcare market by encouraging service providers to "buy
nationwide and sell nationwide." The growth in the online medical
market will have a significant impact on companies like 111 as it
builds an integrated online and offline healthcare platform in
compliance with the new regulatory framework.
Dong-E-E-Jiao Co., Ltd.
Dong-E-E-Jiao Co., Ltd was founded in 1983 and listed on the
Shenzhen Stock Exchange in July 1996.
DEEJ is a large-scale manufacturer of Ejiao and Ejiao series
products in China with more than
4,800 employees. The company produces traditional Chinese
medicines, healthcare products and biological medicines and sells
its products to countries and regions including Hong Kong, Macao, Southeast
Asia, Europe and
the United States in addition to
its domestic sales.
For more information on DEEJ, 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
Mr. Christian Arnell
Ms. Linda Bergkamp
SOURCE 111, Inc.