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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) has updated its share repurchase program, aiming to buy back up to US$10 million worth of Class A ordinary shares. Since the program's announcement on October 14, 2021, the company has repurchased US$1.2 million in shares between December 1 and December 13, 2021. Repurchases, funded from existing cash, may occur through various means depending on market conditions and share prices, reflecting the company's confidence in enhancing shareholder value.
Viomi Technology Co., Ltd. (NASDAQ: VIOT) reported Q3 2021 net revenues of RMB1,056.5 million (US$164.0 million), down from RMB1,486.7 million in Q3 2020, largely due to decreased Xiaomi-branded sweeper robot sales. Gross margin improved to 22.7% from 17.1%. The company experienced a net loss of RMB29.3 million (US$4.5 million) compared to a profit of RMB34.9 million in the previous year. Looking ahead, Viomi expects Q4 revenues between RMB1.2 billion and RMB1.3 billion, with ongoing challenges in the sweeper robot segment.
Viomi Technology Co., Ltd (NASDAQ: VIOT) has announced the scheduled release of its third quarter 2021 unaudited financial results on November 24, 2021, prior to U.S. market opening. An earnings conference call will take place at 7:30 AM ET on the same day. The event can be accessed through various dial-in options provided. Viomi is focused on IoT @ Home technologies, offering a range of smart home products to enhance consumer interaction and convenience.
Viomi Technology Co. Ltd (NASDAQ: VIOT) announced a share repurchase program authorized by its Board of Directors, allowing for the buyback of up to US$10 million worth of Class A ordinary shares over the next twelve months. The CEO, Xiaoping Chen, expressed confidence in the company's business outlook and financial health, stating that this initiative will enhance shareholder value. Repurchases may occur in various forms, including open market purchases and block trades, funded by existing cash reserves.
Viomi Technology has launched its best-budget Lidar robot vacuum-mop, the V3 Max, in the U.S. market, marking a significant debut on its official Amazon store. This device offers advanced cleaning capabilities with three modes, including a unique Y-pattern mopping feature. The V3 Max boasts high-end technologies such as 360° LIDAR mapping and a powerful 5200mAh battery, enabling a runtime of 300 minutes. Viomi aims to enhance user experience with voice control compatibility through Google Home and Alexa, all while providing a cleaner and healthier home environment.
Viomi Technology Co., Ltd (NASDAQ: VIOT) announced its Q2 2021 financial results, with net revenues of RMB1,658.9 million (US$256.9 million), down 1.5% year-over-year. Gross margin improved to 21.2%, up from 14.3% a year ago. The net income attributable to shareholders surged 367.4% to RMB46.1 million (US$7.1 million). The company is focused on enhancing its IoT @ Home portfolio, expanding its product offerings, and optimizing retail strategies. For Q3 2021, Viomi anticipates revenues between RMB1.0 billion and RMB1.1 billion, driven by growth in its own-branded sweeper robot business.
Viomi Technology (NASDAQ: VIOT) announces its Q2 2021 unaudited financial results will be reported on August 25, 2021, prior to U.S. market opening. An earnings conference call is scheduled for 8:00 AM ET the same day, allowing investors to gain insights into the company's performance in the IoT @ Home sector. The call can be accessed via multiple international dial-in numbers and will be available on Viomi's investor relations website.
Viomi Technology Co., Ltd. (NASDAQ: VIOT) reported a strong Q1 2021 with net revenues reaching RMB1,255.6 million (US$191.6 million), a 64.0% year-over-year increase. Gross margin improved to 21.1%, up from 18.8% in Q1 2020. Net income attributable to ordinary shareholders surged by 173.2% to RMB49.1 million (US$7.5 million). The company expanded its IoT product offerings and successfully launched new AI-based products such as water purifiers and smart toilets. Looking ahead, Viomi expects Q2 2021 net revenues between RMB1.72 billion and RMB1.85 billion, representing 2.1% to 9.8% growth.
Viomi Technology Co., Ltd (NASDAQ: VIOT) announced an earnings call scheduled for May 27, 2021 at 8:00 AM ET to discuss its first quarter 2021 unaudited financial results.
The conference call will be accessible via dial-in numbers for various regions and will also have a live and archived webcast. Viomi continues to focus on its IoT @ Home platform, emphasizing innovative smart home products aimed at enhancing consumer experiences and interaction.
Viomi Technology hosted its "AI: Helpful" Spring Strategic New Product Launch Event on April 28, 2021, in Guangzhou, China. The company unveiled a variety of smart home products, including the Alpha 2 Pro robot vacuum, EROx water purifier, and Space air conditioner, all enhanced with AI technology. Nobel Laureate George F. Smoot participated as chief scientist. Viomi aims to address consumer needs with innovative solutions, while continuing to develop its IoT @ Home platform. The company has expanded its product range with capabilities in 5G IoT smart connections.
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