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    Nick

    Research Analyst at Virtue Capital

    Nick Greenwood served as Lead Investment Manager at Asset Value Investors for MIGO, a fund focused on exploiting dislocations in the UK investment companies' sector. Over more than two decades at MIGO, he successfully navigated significant sector shifts, leading the fund to maintain a net asset value of £82 million as of June 2025. With a career spanning 45 years in the industry, Nick is recognized for delivering sustainable returns and has been instrumental in shaping MIGO's strategic direction. His tenure is marked by deep expertise in UK investment companies, a nimble approach to market inefficiencies, and strong stewardship recognized by peers and investors.

    Nick's questions to 111 (YI) leadership

    Nick's questions to 111 (YI) leadership • Q1 2024

    Question

    Asked about the possibility of a dual-listing in Hong Kong and for details on the company's cash position, burn rate, and redemption obligations.

    Answer

    The company is open to all listing options, including Hong Kong, and will evaluate what is best for shareholders. Regarding cash, the company has approximately RMB 630 million, achieved positive operating cash flow, is no longer burning cash, and believes its cash on hand is sufficient for expansion. This is supported by efficient working capital management. The company has also entered into agreements with a majority of investors to reschedule redemption payments.

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