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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.
AWE2023 commenced on April 27 at the Shanghai New International Expo Centre, showcasing over 1,000 exhibitors under the theme "Smartize the Future." The event covers 150,000 square meters across 13 halls, focusing on the latest innovations in home appliances and consumer electronics.
Exhibitors include major brands like Miele, Sony, Samsung, and Viomi, highlighting advancements in smart home technology and consumer electronics. Notable showcases include Haier's Smart Home products, Huawei's immersive smart home experience, and TCL's IoT innovations.
The event also features new AR/VR technologies, smart appliances, and vehicles, such as the AITO M5 Intelligent Driving Edition. With increased international participation post-COVID, AWE2023 emphasizes the growth of smart living solutions.
Viomi Technology Co., Ltd (NASDAQ: VIOT) has filed its annual report on Form 20-F for the year ended December 31, 2022, with the U.S. Securities and Exchange Commission (SEC) on April 25, 2023. This report is accessible via the Company’s investor relations website and the SEC's website. Viomi is recognized for its IoT @ Home technology, offering a platform of smart home products designed to enhance consumer experience and interaction within the home. The Company aims to expand its household user base and improve user engagement through innovative IoT solutions.
Viomi Technology, a leading IoT @ Home technology company, reported its financial results for Q4 and the full year 2022. Net revenues for Q4 were RMB910.5 million (US$132 million), a decline from RMB1,332.8 million in Q4 2021. Despite challenges, the gross margin improved to 23.0%, from 19.8% quarter-over-quarter and 22.8% for the full year, up from 22.6% in 2021. The company aims to enhance its product lineup and optimize distribution channels while focusing on operational efficiency. However, it faced substantial revenue declines across its IoT portfolio, affecting overall financial performance.
Viomi Technology Co., Ltd (NASDAQ: VIOT) announced it will report its fourth quarter and full year 2022 unaudited financial results on March 27, 2023, before U.S. market open. The earnings conference call is scheduled for 8:00 A.M. ET on the same day. This call will be accessible via multiple dial-in numbers and a live webcast. Viomi focuses on IoT @ Home technology, providing a comprehensive ecosystem of smart home products. Investors can access the archived webcast on the company’s investor relations website.
Viomi Technology Co., Ltd (NASDAQ: VIOT) reported its Q3 2022 financial results, revealing net revenues of RMB685.8 million (US$96.4 million), a 35% decrease from RMB1,056.5 million in Q3 2021. The gross margin fell to 19.8% from 22.7%. The company experienced a net loss of RMB79.6 million (US$11.2 million), up from RMB29.3 million in the previous year. Despite challenges from the COVID-19 pandemic and weak market demand, Viomi reported growth in cumulative household users, reaching 7.4 million, and continued product innovation.
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