Welcome to our dedicated page for Viomi Technology Co., Ltd. news (Ticker: VIOT), a resource for investors and traders seeking the latest updates and insights on Viomi Technology Co., Ltd. stock.
Viomi Technology Co., Ltd (VIOT) drives innovation in IoT-enabled smart home ecosystems and AI-powered water purification systems. This dedicated news hub provides investors and industry observers with essential updates on corporate developments, technological breakthroughs, and market positioning strategies.
Access real-time announcements including quarterly earnings reports, product launch details, strategic partnerships, and operational milestones. Our curated collection ensures you stay informed about VIOT's advancements in smart kitchen appliances, water filtration technologies, and IoT platform expansions.
Key updates cover R&D investments, manufacturing optimizations at Viomi's Gigafactory, and consumer-focused innovations in home automation. Bookmark this page for verified information directly from corporate communications and trusted financial analysis sources.
Viomi Technology Co., (NASDAQ: VIOT) reported its unaudited financial results for the first half of 2024, showing a return to profitability. Key highlights include:
- Net revenues of RMB1,040.2 million (US$143.1 million)
- Gross margin increased to 24.8% from 22.0% in the same period of 2023
- Net income of RMB5.6 million (US$0.8 million), compared to a net loss in 2023
- Non-GAAP net income of RMB16.1 million
- Cumulative household users reached 8.7 million
The company is implementing a 'Focus' strategy, prioritizing home water solutions and divesting certain IoT@Home portfolio products. Viomi's new mission is 'AI for Better Water,' aiming to provide innovative home water solutions globally. The company expects revenues of RMB1.7-1.9 billion and income from operations of RMB110-130 million for the Continuing Businesses in 2024.
Viomi Technology Co., (NASDAQ: VIOT), a leading Chinese home water solutions company, has regained compliance with Nasdaq's minimum bid price requirement. The company received a compliance notice on August 16, 2024, confirming that its American Depositary Shares (ADSs) have maintained a closing bid price of $1.00 or higher for ten consecutive business days from August 1 to August 15, 2024.
This development resolves the non-compliance issue raised on March 26, 2024, when Viomi was notified that its ADS price had fallen below the $1.00 threshold for 30 consecutive business days. With this matter now closed, Viomi has successfully addressed the concerns regarding its listing status on the Nasdaq Stock Market.
Viomi Technology Co., (NASDAQ: VIOT), a leading IoT @ Home technology company in China, has announced it will report its unaudited financial results for the first half of 2024 on Monday, August 26, 2024, before the U.S. markets open. The company will host an earnings conference call at 8:00 A.M. U.S. Eastern Time on the same day.
Investors can access the call via various toll-free and international numbers. A live and archived webcast will be available on Viomi's investor relations website. A replay of the conference call will be accessible by phone for one week after the live call, until September 2, 2024.
Viomi Technology Co., (NASDAQ: VIOT) announced a strategic business reorganization on July 19, 2024. The company will divest part of its IoT@Home business and related assets for RMB65 million to focus on its home water solution business. This restructuring aims to optimize operating structure, improve efficiency, and maximize core advantages. Viomi's CEO, Chen Xiaoping, highlighted four major advantages in the water purification industry:
1. Leading R&D in filtration technology
2. Advanced AI technology applications
3. Integrated Water Purifier Gigafactory
4. Global talent and strong channel expansion
The reorganization is expected to be completed by August 2024, positioning Viomi as a tech company providing AI-driven drinking water solutions globally.
Viomi Technology Co., (NASDAQ: VIOT) has announced a strategic divestment of certain IoT@Home businesses to focus on home water solution businesses. The company has entered into definitive agreements with its Founder, Chairman, and CEO, Mr. Xiaoping Chen, to sell these assets for RMB65 million in cash. The transaction involves terminating existing VIE arrangements and establishing new ones, resulting in Mr. Chen controlling Foshan Viomi and its subsidiaries.
A special committee of independent directors led the evaluation and negotiation, with Kroll serving as an independent financial advisor. The Board has approved the transaction, deeming it in the company's best interest. The deal is expected to close by the end of August 2024, subject to certain conditions. Post-transaction, Viomi will focus on its home water solution business, leveraging AI technology to enhance drinking water solutions for households.
FAQ
What is the current stock price of Viomi Technology Co., Ltd. (VIOT)?
What is the market cap of Viomi Technology Co., Ltd. (VIOT)?
