111, Inc. (NASDAQ: YI) has formed a special committee of three independent directors to evaluate a preliminary, non-binding proposal dated September 16, 2026, along with other strategic alternatives. The committee is chaired by Jian Sun and includes Nee Chuan Teo and Jun Luo. The company said no decision has been made and warned that there may be no definitive offer, agreement, or completed transaction. 111 also said it is not obligated to provide updates except as required by law. The China-focused healthcare platform connects consumers, pharmacies and pharmaceutical companies through online retail, business-to-business sourcing and technology services, and is expanding its use of AI Agents (software that performs defined workflows) across pharmacy operations.