111, Inc. (YI) Announces Board Changes

111, Inc. ("111" or the "Company") (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China, today announced that Dr. Leon Lian Yong Chen has tendered his resignation from the position as the Company's director for personal reasons, effective on November 4, 2024. The board has also appointed Mr. Yang "Luke" Chen, currently serving as the Company's Senior Finance Executive, as a new director, effective November 4, 2024.

Dr. Lian Yong Chen has served on the board of directors of the Company since May 2019. "I am grateful to Dr. Chen for his significant contributions during his term of office. His knowledge and advice have been invaluable in propelling our goals and strategies for long-term achievements. On behalf of the board, I extend best wishes to Dr. Chen and look forward to further collaborating with him in the future," said Mr. Gang Yu, Co-Founder and Executive Chairman of the Company.

Regarding the appointment of Mr. Yang "Luke" Chen, Mr. Gang Yu added, "We are delighted to welcome Luke to our board of directors. His extensive financial expertise and deep understanding of our business will be instrumental as we continue to drive our strategic initiatives forward. I am confident that his leadership and insights will contribute to our ongoing success and growth."

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