Welcome to our dedicated page for Viomi Technology Co. American Depositary Shares news (Ticker: VIOT), a resource for investors and traders seeking the latest updates and insights on Viomi Technology Co. American Depositary Shares stock.
Viomi Technology Co., Ltd (NASDAQ: VIOT) is a forward-thinking company pioneering in the Internet of Things (IoT)-enabled smart home sector. Founded in 2014 and headquartered in Guangzhou, China, Viomi specializes in developing and selling a wide range of smart home products. The company's core business revolves around creating an IoT Home platform that integrates various smart devices for a seamlessly connected home environment.
Viomi's product portfolio includes smart water purification systems, smart kitchen appliances such as refrigerators, oven steamers, dishwashers, and gas stoves, as well as other smart products like air conditioning systems, washing machines, water heaters, smart water kettles, and sweeper robots. The company also offers smart locks and interactive smart screens, enhancing both security and convenience for consumers.
In addition to these hardware products, Viomi provides a suite of complementary consumables and value-added services, aiming to enrich the user experience and ensure product longevity. The company's strategic partnership with Xiaomi Corporation has significantly bolstered its market presence and product development capabilities.
Viomi’s sales channels are diverse, including direct consumer sales through its official website, the Viomi Store mobile app, and major e-commerce platforms like JD.com, Tmall, and Suning. The company also operates offline experience stores to provide customers with hands-on demonstrations of their products.
Recent achievements include Viomi's participation in prominent industry conferences and the extension of its share repurchase plan, reflecting its commitment to enhancing shareholder value. The company has also elevated its water purification business to a strategic business unit, showcasing its focus on high-quality and sustainable development. This initiative is led by industry veteran Mr. Qi Chen, who brings extensive experience from A.O. Smith (China) Water Heater Co., Ltd.
Viomi's financial health remains robust, with significant investments in research and development to maintain its competitive edge. The company reported a significant reduction in operating expenses and net losses for the second half and full year of 2023, demonstrating its strategic focus on operational efficiency and cost management.
Looking forward, Viomi is poised to continue its growth trajectory by expanding its product offerings, enhancing its IoT technology park, and strengthening its global distribution network. The company's mission is to redefine the future home through innovative IoT solutions, making daily life more convenient and enjoyable for its users.
Viomi Technology (NASDAQ: VIOT), a leading Chinese home water solutions company, has appointed Guang Wu as President of Operations, effective December 4, 2024. Wu brings over 20 years of experience in business development and marketing in the home appliances industry, previously serving as VP and GM of Domestic Marketing at Sleemon Group and managing domestic marketing for Midea Group's Living Appliance Division.
CEO Xiaoping Chen highlighted that Viomi completed its strategic transformation in 2024, focusing on home water solutions and achieving profitability. The company aims to strengthen its channels and promote sustainable growth in 2025, leveraging Wu's extensive experience and leadership.
Viomi Technology Co (NASDAQ: VIOT), a leading Chinese home water solutions technology company, has announced its participation in the upcoming Sidoti November Virtual Investor Conference. Mr. Sam Yang, Head of Capital and Strategy, and Ms. Claire Ji, Director of Investor Relations, will represent the company at the event scheduled for November 13-14, 2024.
The company's presentation is set for Wednesday, November 13, from 8:30 am to 9:00 am Eastern Time. Additionally, Viomi will conduct virtual one-on-one meetings with investors during both conference days. The event is free and open to all investors and financial professionals, with registration available through the Sidoti website.
Viomi Technology (NASDAQ: VIOT), a leading Chinese home water solutions company, has announced a 12-month extension of its share repurchase program. The plan, initially approved in October 2022 for up to US$10 million worth of American Depositary Shares (ADSs), will now extend through October 24, 2025. To date, the company has repurchased US$901,258 worth of ADSs in the open market. The company will continue funding the repurchases using its existing cash balance.
Viomi Technology Co., (NASDAQ: VIOT), a leading Chinese home water solutions company, will present at the Emerging Growth Conference on October 30, 2024. The live, interactive presentation will feature Mr. Sam Yang, Head of Capital and Strategy, and Ms. Claire Ji, Director of Investor Relations.
The event, scheduled from 9:05 am to 9:35 am Eastern Time, offers investors, advisors, and analysts an opportunity to engage with Viomi's management team. Participants can submit questions in advance or during the Q&A session. Those unable to attend can access an archived webcast on EmergingGrowth.com and their YouTube channel.
To participate, interested parties should register through the provided Conference Registration link. This presentation allows Viomi to showcase its strategy and business to existing shareholders and the investment community.
Viomi Technology Co., (NASDAQ: VIOT), a leading Chinese home water solutions company, celebrated its 6th Nasdaq listing anniversary on September 25, 2024. To mark this, the Company granted 9 million stock options to nearly 40 employees under its 2018 Share Incentive Plan, targeting key staff in R&D, sales, and marketing. This move aims to boost employee motivation and innovation.
CEO Xiaoping Chen highlighted Viomi's success in attracting global talent and securing over 1,600 water purification patents. The company plans to focus on developing AI products and water purification solutions globally. Following a strategic reorganization on August 31, 2024, Viomi is concentrating on AI home water solution businesses. The company returned to profitability in H1 2024 and projects full-year revenues for Continuing Businesses between RMB1.7-1.9 billion, with expected operating income of RMB110-130 million.
Viomi Technology Co., (NASDAQ: VIOT) held its 2024 Investor Day on September 26, 2024, in Shunde, Foshan. The event included visits to Viomi Tech Park, intelligent home water solutions experience spaces, and the Water Purifier Gigafactory. Investors learned about Viomi's 10-year history of technological breakthroughs in water purification, including tankless large-flux purifiers and ERO electrodialysis technology.
The company showcased its Kunlun Mineral AI Water Purifier, which uses innovative mineralizing filter technology. Viomi's Water Purifier Gigafactory impressed investors with its annual production capacity of 5 million water purifiers and 30 million filter cartridges. The company recently completed a major strategic reorganization, focusing on home water solutions. Viomi reported improved financial performance for H1 2024, with gross margin increasing to 24.8% and achieving a net income of RMB5.6 million.
Viomi Technology Co., (NASDAQ: VIOT) has announced the successful completion of its previously disclosed divestment of certain IoT@Home businesses and assets. This strategic move aligns with the company's new mission, 'AI for Better Water,' focusing on utilizing AI technology to enhance drinking water solutions globally.
CEO Xiaoping Chen highlighted the company's improved earnings in the first half of 2024, attributing it to the rigorous implementation of their 'Focus' strategy. Moving forward, Viomi will concentrate on its home water solution businesses, leveraging its Water Purifier Gigafactory's competitive advantages. The company aims to expand into key overseas markets, advancing its global strategy and vision of 'Global Water.'
This reorganization is expected to position Viomi for sustainable financial health and profitable growth, ultimately benefiting both users and shareholders.
Viomi Technology Co., (NASDAQ: VIOT) reported its unaudited financial results for the first half of 2024, showing a return to profitability. Key highlights include:
- Net revenues of RMB1,040.2 million (US$143.1 million)
- Gross margin increased to 24.8% from 22.0% in the same period of 2023
- Net income of RMB5.6 million (US$0.8 million), compared to a net loss in 2023
- Non-GAAP net income of RMB16.1 million
- Cumulative household users reached 8.7 million
The company is implementing a 'Focus' strategy, prioritizing home water solutions and divesting certain IoT@Home portfolio products. Viomi's new mission is 'AI for Better Water,' aiming to provide innovative home water solutions globally. The company expects revenues of RMB1.7-1.9 billion and income from operations of RMB110-130 million for the Continuing Businesses in 2024.
Viomi Technology Co., (NASDAQ: VIOT), a leading Chinese home water solutions company, has regained compliance with Nasdaq's minimum bid price requirement. The company received a compliance notice on August 16, 2024, confirming that its American Depositary Shares (ADSs) have maintained a closing bid price of $1.00 or higher for ten consecutive business days from August 1 to August 15, 2024.
This development resolves the non-compliance issue raised on March 26, 2024, when Viomi was notified that its ADS price had fallen below the $1.00 threshold for 30 consecutive business days. With this matter now closed, Viomi has successfully addressed the concerns regarding its listing status on the Nasdaq Stock Market.
Viomi Technology Co., (NASDAQ: VIOT), a leading IoT @ Home technology company in China, has announced it will report its unaudited financial results for the first half of 2024 on Monday, August 26, 2024, before the U.S. markets open. The company will host an earnings conference call at 8:00 A.M. U.S. Eastern Time on the same day.
Investors can access the call via various toll-free and international numbers. A live and archived webcast will be available on Viomi's investor relations website. A replay of the conference call will be accessible by phone for one week after the live call, until September 2, 2024.
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