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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.
Viomi Technology Co., Ltd (NASDAQ: VIOT) will report its third quarter 2022 unaudited financial results on November 23, 2022, before U.S. markets open. The management will host an earnings call at 7:30 AM ET on the same day. Dial-in numbers for the call have been provided for participants in the U.S., Hong Kong, and Mainland China. A live and archived webcast will also be available on the company's investor relations website. Viomi aims to revolutionize the home environment with its IoT @ Home technology, enhancing consumer interaction with smart home products.
Viomi Technology Co., Ltd (NASDAQ: VIOT) has announced a new share repurchase plan, allowing for the buyback of up to US$10 million of its American depositary shares over the next 12 months, concluding on October 24, 2023. This initiative follows the expiration of the previous buyback plan. The company aims to enhance shareholder value and expects to fund the repurchases from its existing cash balance. CEO Xiaoping Chen expressed confidence in the company's outlook and commitment to maximizing long-term shareholder value.
Viomi Technology Co., Ltd (NASDAQ: VIOT) reported its Q2 2022 financial results, with net revenues of RMB 924.2 million (US$138.0 million), a significant decline from RMB 1,658.9 million in Q2 2021. However, gross margin improved to 22.1% from 21.2% in the prior year, despite ongoing sales challenges due to COVID-19. The number of cumulative household users reached approximately 7.2 million. The company forecasts Q3 2022 revenues between RMB 740 million and RMB 840 million, reflecting ongoing market uncertainties.
Viomi Technology Co. Ltd (NASDAQ: VIOT) is set to report its Q2 2022 unaudited financial results on August 22, 2022, before U.S. market opening. An earnings call will follow at 8:00 a.m. ET. The call will be accessible via multiple dial-in options, including toll-free numbers for the U.S. and Hong Kong. Viomi, a leader in the IoT @ Home technology sector in China, aims to redefine home living with its innovative IoT-enabled products. A live webcast of the call will be available on their investor relations website.
Viomi Technology Co., Ltd. (NASDAQ: VIOT) announced its Q1 2022 financial results, reporting net revenues of RMB712.1 million (US$112.3 million), down from RMB1,255.6 million in Q1 2021. The gross margin improved to 26.3% from 21.1% year-over-year. Despite the revenue decline, the company continues to invest in R&D, with a 47% increase in R&D personnel and 5,232 cumulative patent applications. The outlook for Q2 2022 estimates revenues between RMB850 million and RMB1.05 billion, reflecting challenges from previous Xiaomi sweeper robot sales.
Viomi Technology Co., Ltd (NASDAQ: VIOT) announced that it will release its first quarter 2022 unaudited financial results on May 27, 2022, before the U.S. market opens. The management will hold an earnings conference call at 8:00 a.m. ET on the same day, providing insights into the company's financial performance. Details for dial-in options and a live webcast are available on the company's investor relations website. Viomi focuses on IoT @ Home technology, aiming to enhance consumer interaction with smart home products, thus expanding its household user base.
Viomi Technology Co., Ltd (NASDAQ: VIOT) filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the U.S. SEC on April 27, 2022. The report is available on Viomi's investor relations website and the SEC's website. Shareholders can request hard copies free of charge, but due to COVID-19 disruptions, electronic downloads are recommended. Viomi aims to redefine home living with its IoT @ Home ecosystem, offering smart products and consumables to enhance convenience and efficiency in daily life.
Viomi Technology reported Q4 2021 net revenues of RMB1,332.8 million (US$209.1 million), falling from RMB1,889.0 million in Q4 2020. Despite a revenue decline, gross margin improved to 25.6% from 23.5% year-over-year. Net income attributable to shareholders was RMB22.7 million (US$3.6 million), significantly lower than RMB110.6 million in Q4 2020. For FY 2021, total revenues decreased to RMB5,303.8 million (US$832.3 million). Looking ahead, Viomi expects Q1 2022 revenues between RMB680 million and RMB730 million, reflecting a high base from the previous year.
Viomi Technology Co., Ltd (NASDAQ: VIOT) will report its fourth quarter and full year 2021 unaudited financial results on March 28, 2022, before U.S. markets open. Management will host an earnings conference call at 8:00 AM EST on the same day. The call will be accessible via various international dial-in numbers, and a replay will be available shortly after the live call until April 4, 2022. Viomi continues its mission to innovate in the IoT @ Home sector, enhancing consumers' daily lives through smart technology.
Viomi Technology Co., Ltd has announced its 2022 strategic new product launch plan aimed at expanding its overseas market. The company introduces innovative IoT home solutions, including the Alpha 2 Pro robot vacuum with advanced detection capabilities, an ultra-thin washer-dryer, the Blues Pro smart water purifier, and the 21Face large-screen refrigerator. Additional AI-enabled kitchen appliances and air care solutions will also be part of the lineup. These products focus on enhancing user convenience and experience while integrating with the Mi Home app and supporting voice control via Alexa and Google Home.
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