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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 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.
Viomi Technology Co., Ltd (NASDAQ: VIOT) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the U.S. Securities and Exchange Commission (SEC) on April 26, 2021. The report is accessible on the Company's investor relations website and the SEC's website. Viomi focuses on IoT @ Home technology, aiming to enhance the consumer experience with its ecosystem of smart home products. Shareholders can request free hardcopies of the report.
Viomi Technology Co., Ltd (NASDAQ: VIOT) reported a strong fourth quarter of 2020 with net revenues of RMB1,889 million (US$289.5 million), an 8.5% increase year-over-year. The gross margin improved to 23.5%, driven by higher-margin product shifts. Net income attributable to ordinary shareholders rose 23.3% to RMB110.6 million (US$16.9 million). For the full year, revenues reached RMB5,826 million (US$892.8 million), a 25.3% increase, though annual gross margin decreased to 18.6%. The company expects Q1 2021 revenues to be between RMB900 million and RMB950 million, reflecting a year-over-year growth of 17.6% to 24.1%.
Viomi Technology Co., Ltd (NASDAQ: VIOT) will announce its fourth quarter and full year 2020 unaudited financial results on March 25, 2021, prior to U.S. market opening. Management will conduct an earnings call at 8:00 a.m. ET the same day. This call is an opportunity for investors to hear about the company's performance and outlook. Dial-in information is provided for both U.S. and international participants. Viomi specializes in IoT @ Home technology, aiming to innovate smart home solutions designed for improved convenience and efficiency for consumers.
Viomi Technology Co., Ltd (NASDAQ: VIOT) has announced the immediate resignation of Chief Financial Officer, Mr. Shun Jiang, for personal reasons. The company is actively seeking a replacement and interim financial oversight will be managed by Mr. Xiaoping Chen, the Founder and CEO. In a statement, Chen expressed gratitude for Jiang's contributions. Viomi aims to innovate within the IoT @ Home sector, enhancing smart home technology for consumers.
Viomi Technology Co. reported a 39.0% increase in net revenues for Q3 2020, reaching RMB 1,486.7 million (US$ 219.0 million), surpassing prior guidance. The gross margin stood at 17.1%, down from 22.3% the previous year. Net income attributable to shareholders was RMB 34.9 million (US$ 5.1 million), a decrease from RMB 72.9 million year-over-year. The company anticipates Q4 revenues between RMB 1.90 billion and RMB 2.00 billion, reflecting a 9.1% to 14.8% year-over-year growth.
Viomi Technology (NASDAQ: VIOT) will report its third quarter 2020 unaudited financial results on November 25, 2020, before U.S. market open. A conference call will follow at 7:30 AM ET on the same day. The call can be accessed via several dial-in numbers, with a replay available until December 2, 2020. Viomi focuses on IoT @ Home technology, aiming to transform future homes through its innovative platform that combines smart home products and consumable goods.
Viomi Technology reported Q2 2020 financial results with net revenues of RMB1,684.4 million (US$238.4 million), a 45.2% year-over-year increase. Gross margin declined to 14.3%, down from 26.6% in Q2 2019. Net income decreased to RMB10.3 million (US$1.5 million), significantly lower than RMB88.9 million in Q2 2019. The company maintains a positive outlook for Q3 2020, expecting net revenues of RMB1.40 to RMB1.45 billion, with 30.8%-35.5% growth. The total number of household users grew to 4.2 million with 19.0% using multiple connected products.
Viomi Technology Co., Ltd (NASDAQ: VIOT) announced its second quarter 2020 unaudited financial results will be reported on August 24, 2020, before U.S. market opening. An earnings conference call will take place on the same day at 8:00 AM U.S. Eastern Time. Investors can participate via specified phone numbers or access a webcast on Viomi's investor relations website. The company focuses on IoT @ Home technology, aiming to enhance consumer interaction with smart home products.
Viomi Technology Co., Ltd. (NASDAQ: VIOT) reported its unaudited financial results for Q1 2020, revealing net revenues of RMB765.5 million (US$108.1 million), up 13.2% year-over-year. However, net income dropped to RMB17.8 million (US$2.5 million) from RMB41.3 million in Q1 2019. Gross margin declined to 18.8% from 28.0% due to a shift in product mix and lower selling prices. Despite challenges from COVID-19, household users grew to over 3.7 million. The company anticipates Q2 2020 revenue between RMB1.25 billion and RMB1.28 billion, reflecting a growth outlook of 7.7% to 10.3%.
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