Focus on AI Water, Completed Strategic Reorganization - Viomi Investor Day
27 Septembre 2024 - 7:00PM
On September 26, 2024, Viomi Technology Co., Ltd (NASDAQ: VIOT)
held its 2024 Investor Day in Shunde, Foshan,
where the Founder and CEO Mr. Xiaoping Chen,
Head of Capital and Strategy Sam Yang and the investor
relations team had in-depth exchanges with more than twenty
investor representatives. The open day has several sessions,
including visiting the Viomi Tech Park, immersive experience spaces
for Viomi’s intelligent home water solutions, and the Water
Purifier Gigafactory. The company team introduced in details about
the production and operation, R&D and innovation, market
layout, etc., and had an interactive Q&A session with investor
representatives. Investors experienced the charm of Tech
Fashion, gained an in-depth understanding of Viomi's
industrial layout, and discussed new opportunities for future
development.
At the beginning of the event,
investors visited Viomi's intelligent water purification
showroom to learn about the company's technological breakthroughs
and product innovation history in the field of intelligent water
purification. In the past 10 years, Viomi has continued
to lead the industry in technological breakthroughs. We
developed tankless large-flux water purifiers that provide fresh
drinking water 24/7. By upgrading the water flux up to 2000G, we
expanded purified water usage scenarios from drinking to cooking,
washing vegetables, and more. In addition, we implemented ERO
electrodialysis technology to offer adjustable water quality,
ranging from pure water to natural mineral water, setting new
trends in healthy living. At the Viomi Spring Water Purifier New
Product Launch in March 2024, we unveiled the Viomi Kunlun Mineral
AI Water Purifier. Its innovative mineralizing filter technology
enables the sustained release of beneficial minerals, making the
composition of these minerals in the water almost identical to that
of natural mineral water, allowing our users to enjoy fresh mineral
water at home. Investors are impressed by Viomi’s strong
production and R&D capabilities and rich product matrix.
During the event, investors
also visited Viomi's Water Purifier Gigafactory,
intuitively witnessing the highly integrated and complete
industrial chain layout, highly automated production lines,
high-standard hygiene production environment, as well as
the whole chain traceable
quality control system. When they learned that the
annual production capacity of the gigafactory can reach 5
million units of the water purifier and 30 million filter
cartridges, they marveled at the absolute strength of the company's
advanced manufacturing.
In the interactive Q&A session, investors focused on the
industry's competitive landscape, market layout, R&D
innovation, business model and other topics to carry out in-depth
exchanges and discussions. With the mission of “AI for Better
Water”, Viomi is committed to using AI technology to
provide better home water purification solutions for global
users. Using our professional experience in AI technology
application, intelligent hardware and software development to
redefine household water purification and create a unique
“Equipment + Consumables” business model.
On August 31, 2024, the Company has successfully
completed the major strategic reorganization, and
will mainly focus on its core strengths in the home water solutions
to elevate the Company’s overall operational trajectory. The
reorganization is expected to drive healthy and sustainable
long-term growth for the Company. In the meantime, the
Company implemented rigorous ‘Focus’ strategy in the first
half of 2024, prioritizing high-quality development and
consistently enhancing the operating performance. We concentrated
on our advantageous categories, boosting our core home water
solution products’ revenue while further optimizing our product
structure. As a result, our overall gross margin continued to
improve to 24.8% for the first half of 2024 from 22.0% for the same
period in 2023. Rigorous cost control measures led to a
year-over-year decline in operating expenses by 19.2%, contributing
to a turnaround in net profit with a net income of RMB5.6 million
and a non-GAAP net income of RMB16.1 million. Additionally, we
maintained a strong cash position, with free cash assets totaling
RMB914.3 million. We also issued the full year
guidance in our recent earnings release, with the
estimated revenues from the continuing businesses to be
between RMB1.7 billion to RMB1.9 billion, and
the income from operations between RMB110 million
to RMB130 million.
By holding these open day activities, investors
experienced our innovative achievements, gained a deeper
understanding of Viomi's development history, and
felt our R&D and manufacturing strength. Looking
forward, we will continue to uphold an open and professional
atmosphere, build a closer investor relations network, adhere
to the development path of R&D and innovation-driven,
market-led, and promote the healthy and sustainable
development of the company. In the meantime, increase
investor trust and confidence in Viomi, providing
long-term returns for investors, and sharing a
promising future.
Xuebo Li
Viomi Technology Co., Ltd
marketing at viomi.com
Viomi Technology (NASDAQ:VIOT)
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