111 Inc (NYSE:YI) Q1 2020 Earnings Conference Call - Final Transcript

May 21, 2020 • 07:30 am ET


111 Inc (NYSE:YI) Q1 2020 Earnings Conference Call - Final Transcript


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Hello, ladies and gentlemen, thank you for standing by for 111, Inc.'s First Quarter 2020 Conference Call. [Operator Instructions] After management's prepared remarks, there will be a question-and-answer session. As a reminder, today's conference call is being recorded.

I'd like to turn the meeting over to your host for today's call, Ms. Monica Mu, Investor Relations Director. Please proceed, Monica.

Monica Mu

Thank you, operator. Hello, everyone, and thank you for joining us today for 111's first quarter 2020 conference call. On the call today from 111 are Dr. Gang Yu, Co-Founder and Executive Chairman; Mr. Junling Liu, Co-Founder, Chairman and CEO; Mr. Luke Chen, Chief Financial Officer; Mr. Harvey Wang, Co-COO; Mr. Barry Zhu, Co-COO; Ms. Monica Mu, Investor Relations Director; and Mr. Alex Liu, Finance Director. As a reminder, today's conference call is being broadcast live via webcast. In addition, a replay will be available on our website following the call. The company's earnings press release was distributed earlier today, and together with our earnings presentation are available on the company's IR website at ir.111.com.cn.

Before we get started, let me remind you that this call may contain forward-looking statements made under the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's current expectations and current markets and operating conditions and relates to events that involve known and unknown risks, uncertainties and other factors, all of which could cause actual results to differ materially. For more information about these risks, please refer to company's filings with the SEC. 111 does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise, except as required under applicable law.

Please note that all numbers are in RMB and all comprehensions refer to year-over-year, unless otherwise stated. Please also refer to our earnings press release for detailed information of our comprehensive -- for our comparative financial performance on a year-over-year basis.

With that, I will turn the call over to our CEO, Junling Liu.

Junling Liu

Thank you, everyone, for joining our first quarter 2020 earnings call. A few words on the pandemic before I move on to the earnings. The world is facing a global health crisis as the pandemic continues to evolve rapidly and has created uncertainties and disruptions affecting the lives of millions of people. We would like to express our gratitude to the front-line healthcare professionals around the world selflessly caring for those who are sick. Our thoughts are with you and with those who have been affected.

We have been playing an active role in the pandemic relief efforts since the outbreak, and we'll continue to support the global community to the best of our ability. I'm very proud of how our leadership team and our staff have mobilized and united to ensure the safety of each other, while continuing to serve our customers, partners and the support communities in China and around the world at this time of great need.

Let's begin. I