Exhibit
99.1
Viomi
Technology Co., Ltd Reports Second Half and Full Year 2025 Unaudited Financial Results and Announces Special Dividend
GUANGZHOU,
China, March 25, 2026 – Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT), a leading
technology company for home water solutions in China, today announced its unaudited financial results for the second half and full year
ended December 31, 2025, and declared a special cash dividend.
Second
Half 2025 Financial Overview1
| ● | Net
revenues were RMB950.6 million (US$135.9 million), representing a decrease of 25.9% from
RMB1,282.4 million for the same period of 2024. |
| ● | Net
income attributable to ordinary shareholders of the Company was RMB21.2 million (US$3.0
million), representing a decrease of 70.2% from RMB71.3 million for the same period of 2024. |
Full
Year 2025 Financial Overview
| ● | Net
revenues were RMB2,428.2 million (US$347.2 million), representing an increase of 14.6%
from RMB2,119.0 million for 2024. |
| ● | Net
income attributable to ordinary shareholders of the Company was RMB141.6 million (US$20.3
million), representing a slight decrease of 1.9% from RMB144.4 million for 2024. |
Mr.
Xiaoping Chen, Founder and CEO of Viomi, commented, “In the second half of 2025, amid the phase-down of national subsidy scheme
for home appliance trade-ins and the Company’s strategic investments in overseas market expansion, new product development, and
brand building, we delivered total revenue of RMB950.6 million and net income attributable to ordinary shareholders of the Company of
RMB 21.2 million. For the full year, our core business remained solid, achieving total revenue of RMB2.4 billion, representing a year-on-year
increase of 14.6%. Net income attributable to ordinary shareholders of the Company stood at RMB141.6 million, with a net profit margin
of 5.8%.
“Over
the past year, Viomi’s ‘Global Water’ strategy has continued to gain momentum, highlighted by the establishment of
a multinational professional team covering North America, Southeast Asia, and Europe. Empowered by a global perspective across technology
R&D, market expansion, and business development, we have consistently achieved technological breakthroughs addressing users’
diverse drinking water needs. By leveraging AI technology to enhance user product experiences, we’re establishing Viomi as a world-leading
water technology company.
“In
the North American market, our Amazon channel delivered an outstanding performance in the second half of the year, achieving triple-digit
growth in sales on a sequential basis. During the Black Friday promotional season, our products ranked 19th in the water purifier category
and fourth in the under-sink RO tankless segment. Our premium flagship product, the M1 mineral water purifier, equipped with 9-stage
precision filtration and an AI-powered interactive faucet, further enriched our product portfolio.
1
In August 2024, Viomi completed a strategic reorganization, divesting the Company’s IoT@Home portfolio products, excluding range
hoods, gas stoves, and water heaters (the “Divested Business”). As a result, the Divested Business has been deconsolidated
from the Company, and its historical financial results are reported as discontinued operations in the Company’s consolidated financial
statements. The financial information and non-GAAP financial information disclosed in this press release are presented based on continuing
operations, unless specifically stated otherwise.
“In
the Southeast Asian market, we continued to deepen our strategic cooperation with offline channels in Malaysia through the launch of
the compact INNO mineral water dispenser, tailored for the local market and featuring both mineralization and cooling functions. Viomi’s
brand ambassador in Malaysia, celebrated singer Shila Amzah, attended the launch event for this innovative product integrating healthy
hydration and smart technology.
“In
terms of brand building, we continued to strengthen our ‘Technology + Health’ brand image. In 2025, we were honored to engage
renowned actress Huang Shengyi to serve as Viomi’s brand ambassador in China and Shila Amzah in Malaysia. We also partnered with
Olympic champion Tian Liang as a brand friend and invited well-known artist Ye Yiqian to serve as our product experience officer. In
April 2026, we will unveil our new brand series at the WQA Convention & Exposition in Miami, USA, showcasing our latest AI technologies
and innovations at one of the most influential professional events in the global water treatment industry. Through our smarter, healthier,
and more eco-friendly water solutions, we will present Viomi’s redefined vision of ‘Better Water’ to partners in North
America and around the world.
“On
the manufacturing and R&D front, we continued to solidify our core competitiveness. We achieved a key milestone in the global expansion
of Viomi’s ‘Water Purifier Gigafactory,’ commencing full operations of our overseas premium production line. The first
batch of new products is expected to be ready for mass production in the second quarter of 2026. This production line integrates modular
functions such as instant heating, instant cooling, and ice making, providing agile supply chain support to meet the differentiated needs
of markets in North America, Europe, and Southeast Asia. On the technology side, our ‘Advanced Technology’ laboratory continues
to drive innovation. Meanwhile, our ‘Product Compliance’ laboratory has established testing protocols aligned with authoritative
certification systems in Europe, America, Southeast Asia, and other regions, further strengthening market trust in our products sold
overseas. As of the end of 2025, our global patent applications had surpassed 1,950, spanning 14 countries and regions. We have built
highly competitive technological capabilities in areas such as AI-driven water quality algorithms, precision mineral control, and intelligent
self-cleaning, laying a solid foundation for the continued expansion of our global business.
“In
2026, we will pursue our ‘Global Water’ vision with even greater determination, targeting breakthroughs in four key areas:
First, for overseas markets, we will deepen our presence in core strategic markets such as North America and Southeast Asia, while actively
expanding into more countries and regions. Second, to advance our differentiation in the domestic market, we will further strengthen
the health-centric positioning of the Kunlun series with its ‘alkaline mineral’ concept. Through technological differentiation
and product innovation, we will strive to lead quality upgrades and enhance Viomi’s industry standing in the water purification
market. Third, on the technology front, we will deepen the integration of AI across water purification scenarios, making technological
innovation the core engine that enables Viomi to navigate market cycles and achieve sustained growth. Fourth, we will continue to strengthen
collaborations with global strategic partners, fully leveraging the scale effect of the ‘Water Purifier Gigafactory’ to elevate
both scale and efficiency. Through this committed, long-term approach, Viomi will continue to create value for global users and deliver
sustainable returns to our shareholders,” Mr. Chen concluded.
Second
Half 2025 Financial Results
REVENUES
Net
revenues were RMB950.6 million (US$135.9 million), a decrease of 25.9% from RMB1,282.4 million for the same period of 2024, primarily
due to the decrease in the home water systems.
| - | Home
water systems. Revenues from home water systems were RMB628.2 million (US$89.8 million),
a decrease of 32.1% from RMB925.7 million for the same period of 2024, primarily due to the
decline in national subsidies for water purifiers. |
| | | |
| - | Consumables.
Revenues from consumables were RMB112.2 million (US$16.0 million), a decrease of 17.9% from
RMB136.7 million for the same period of 2024, primarily due to decreased sales of water purifier
filters to Xiaomi. |
| | | |
| - | Kitchen
appliances and others. Revenues from kitchen appliances and others were RMB210.2 million
(US$30.1 million), a decrease of 4.5% from RMB220.0 million for the same period of 2024,
primarily due to a reduction in orders from Xiaomi, as well as a contraction of Viomi-branded
products in this category. |
GROSS
PROFIT
Gross
profit was RMB223.8 million (US$32.0 million), compared to RMB289.5 million for the same period of 2024. Gross margin was 23.5%, compared
to 22.6% for the same period of 2024. The slight increase in gross margin was mainly due to the elimination of the impact of one-off
costs incurred during the divestment of certain IoT@Home businesses and assets.
OPERATING
EXPENSES
Total
operating expenses were RMB248.0 million (US$35.5 million), an increase of 12.0% from RMB221.5 million for the same period of 2024, due
to increased selling and marketing expenses, partially offset by a decrease in general and administrative expenses.
Research
and development expenses were RMB76.3 million (US$10.9 million), an increase of 12.7% from RMB67.7 million for the same period of
2024, mainly attributable to an increased investment in new product development.
Selling
and marketing expenses were RMB148.6 million (US$21.3 million), an increase of 29.8% from RMB114.6 million for the same period of
2024, mainly due to an increase in brand promotion investment, as well as higher personnel costs resulting from channel expansion.
General
and administrative expenses were RMB23.1 million (US$3.3 million), a decrease of 41.2% from RMB39.3 million for the same period of
2024, primarily due to decreased employee compensation costs and allowance for credit losses.
INCOME
FROM OPERATIONS
Income
from operations was RMB9.7 million (US$1.4 million), compared to RMB83.8 million for the same period of 2024.
Non-GAAP
operating income2 was RMB16.6 million (US$2.4 million), compared to RMB89.7 million for the same period of 2024.
2
“Non-GAAP operating income” is defined as income from operations excluding share-based compensation expenses. See “Use
of Non-GAAP Measures” and “Reconciliation of GAAP and Non-GAAP Results” included in this press release.
NET
INCOME3
Net
income attributable to ordinary shareholders of the Company was RMB21.2 million (US$3.0 million), a decrease of 70.2% from RMB71.3 million
for the same period of 2024, mainly due to the decline in scale combined with increased investment in market expansion and brand building.
Non-GAAP
net income attributable to ordinary shareholders4 of the Company was RMB28.2 million (US$4.0 million), a decrease of 63.5%
from RMB77.2 million for the same period of 2024.
BALANCE
SHEET
As
of December 31, 2025, the Company had cash and cash equivalents of RMB806.6 million (US$115.3 million), restricted cash of RMB164.4 million
(US$23.5 million), short-term deposits of RMB258.0 million (US$36.9 million), and short-term investments of RMB82.6 million (US$11.8
million), compared to RMB1,026.2 million, RMB141.3 million, RMB115.0 million, and RMB72.5 million, respectively, as of December 31, 2024.
Full
Year 2025 Financial Results
REVENUES
Net
revenues were RMB2,428.2 million (US$347.2 million), an increase of 14.6% from RMB2,119.0 million for 2024.
| - | Home
water systems. Revenues from home water systems were RMB1,686.6 million (US$241.2 million),
an increase of 12.6% from RMB1,498.4 million for 2024. |
| | | |
| - | Consumables.
Revenues from consumables were RMB235.4 million (US$33.7 million), a decrease of 15.2% from
RMB277.7 million for 2024. |
| | | |
| - | Kitchen
appliances and others. Revenues from kitchen appliances and others were RMB506.2 million
(US$72.4 million), an increase of 47.6% from RMB342.9 million for 2024. |
GROSS
PROFIT
Gross
profit was RMB615.0 million (US$87.9 million), compared to RMB548.7 million for 2024. Gross margin was 25.3%, compared to 25.9% for 2024.
OPERATING
EXPENSES
Total
operating expenses were RMB529.4 million (US$75.7 million), an increase of 24.6% from RMB424.9 million for 2024.
Research
and development expenses were RMB165.6 million (US$23.7 million), an increase of 15.9% from RMB142.9 million for 2024.
Selling
and marketing expenses were RMB277.7 million (US$39.7 million), an increase of 31.5% from RMB211.2 million for 2024.
General
and administrative expenses were RMB86.1 million (US$12.3 million), an increase of 21.6% from RMB70.8 million for 2024.
3
The year-over-year data are all presented in the continuing operations basis, unless otherwise specified.
4
“Non-GAAP net income attributable to ordinary shareholders of the Company” is defined as net income attributable to ordinary
shareholders of the Company excluding share-based compensation expenses. See “Use of Non-GAAP Measures” and “Reconciliation
of GAAP and Non-GAAP Results” included in this press release.
INCOME
FROM OPERATIONS
Income
from operations was RMB128.6 million (US$18.4 million), compared to RMB156.3 million for 2024.
Non-GAAP
operating income was RMB142.6 million (US$20.4 million), compared to RMB172.8 million for 2024.
NET
INCOME5
Net
income attributable to ordinary shareholders of the Company was RMB141.6 million (US$20.3 million), a decrease of 1.9% from RMB144.4
million for 2024.
Non-GAAP
net income attributable to ordinary shareholders of the Company was RMB155.7 million (US$22.3 million), a decrease of 3.2% from RMB160.8
million for 2024.
DIVIDEND
The
Company today announced that its Board of Directors has approved a special cash dividend of US$0.022 per ordinary share on its outstanding
shares to shareholders of record as of the close of trading on April 06, 2026.
Holders
of American Depositary Shares (“ADS”), each representing three ordinary shares of the Company, are accordingly entitled to
a cash dividend of US$0.066 per ADS. Deutsche Bank Trust Company Americas, the depositary bank for the Company’s ADS program, expects
to pay out this dividend to ADS holders on or about April 15, 2026.
Conference
Call
The
Company’s management will host a conference call at 8:00 a.m. Eastern Time on Wednesday, March 25, 2026 (8:00 p.m. Beijing/Hong
Kong time on March 25, 2026) to discuss financial results and answer questions from investors and analysts.
For
participants who wish to join the conference using dial-in numbers, please complete online registration using the link provided below
prior to the scheduled call start time.
Registration
link: https://register-conf.media-server.com/register/BI0c8f62d3a4804d04b0015510ab07d952
Upon
registration, each participant will receive details for the conference call, including dial-in numbers, and a unique access PIN. To join
the conference, please dial the provided number, enter your PIN, and you will join the conference.
Additionally,
a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.viomi.com.
An archived replay will remain available for 12 months following the live session.
5
The year-over-year data are all presented in the continuing operations basis, unless otherwise specified.
About
Viomi Technology
Viomi’s
mission is “AI for Better water,” utilizing AI technology to provide better drinking water solutions for households worldwide.
As
an industry-leading technology company in home water systems, Viomi has developed a distinctive “Equipment + Consumables”
business model. By leveraging its expertise in AI technology, intelligent hardware and software development, the Company simplifies filter
replacement and enhances water quality monitoring, thereby increasing the filter replacement rate. Its continuous technological innovations
extend filter lifespan and lower user costs, promoting the adoption of water purifiers and supporting a healthy lifestyle while effectively
addressing the rising global demand for cleaner, fresher and healthier drinking water. The Company operates a world-leading “Water
Purifier Gigafactory” with an integrated industrial chain that boasts optimal efficiency and facilitates continuous breakthroughs
in water purification. This state-of-the-art facility enables Viomi to achieve economies of scale and accelerate the global popularization
of residential water filtration.
For
more information, please visit: http://ir.viomi.com.
Use
of Non-GAAP Measures
The
Company uses non-GAAP operating income/(loss), non-GAAP net income/(loss), and non-GAAP net income/(loss) attributable to ordinary shareholders
of the Company, in evaluating its operating results and for financial and operational decision-making purposes. Non-GAAP operating income/(loss)
is income/(loss) from operations excluding share-based compensation expenses. Non-GAAP net income/(loss) is net income/(loss) excluding
share-based compensation expenses. Non-GAAP net income/(loss) attributable to ordinary shareholders of the Company is net income/(loss)
attributable to ordinary shareholders excluding share-based compensation expenses. The non-GAAP adjustments do not have any tax impact
as share-based compensation expenses are non-deductible for income tax purposes.
The
Company believes that non-GAAP financial measures help identify underlying trends in its business by excluding the impact of share-based
compensation expenses, which are non-cash charges, and these measures provide useful information about the Company’s operating
results, enhance the overall understanding of the Company’s past performance and future prospects and allow for greater visibility
with respect to key metrics used by the Company’s management in its financial and operational decision-making.
Non-GAAP
financial measures should not be considered in isolation or construed as alternative to income from operations, net income, or any other
measure of performance or as an indicator of the Company’s operating performance. Investors are encouraged to review the historical
non-GAAP financial measures to the most directly comparable GAAP measures. Non-GAAP financial measures presented here may not be comparable
to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting
their usefulness as comparative measures to the Company’s data. We encourage investors and others to review its financial information
in its entirety and not rely on a single financial measure. Reconciliations of the Company’s non-GAAP financial measures to the
most directly comparable GAAP measures are included at the end of this press release.
Exchange
Rate
The
Company’s business is primarily conducted in China and the significant majority of revenues generated are denominated in Renminbi
(“RMB”). This announcement contains currency conversions of RMB amounts into U.S. dollars (“US$”) solely for
the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB6.9931 to US$1.00, the
effective noon buying rate for December 31, 2025, as set forth in the H.10 statistical release of the Federal Reserve Board. No representation
is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on for December 31, 2025,
or at any other rate.
Safe
Harbor Statement
This
announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,”
“expects,” “anticipates,” “future,” “intends,” “plans,” “believes,”
“estimates,” “confident” and similar statements. Among other things, the estimated revenue and income from operations
from the Continuing Businesses, the business outlook and quotations from management in this announcement, as well as Viomi’s strategic
and operational plans, contain forward-looking statements. Viomi may also make written or oral forward-looking statements in its periodic
reports to the United States Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press
releases and other written materials and in oral statements made by its officers, directors or employees to Fourth parties. Statements
that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially
from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies;
the cooperation with Xiaomi, the recognition of the Company’s brand; trends and competition in global IoT-enabled smart home market;
development and commercialization of new products, services and technologies; governmental policies and relevant regulatory environment
relating to the Company’s industry and/or aspects of the business operations and general economic conditions in China and around
the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included
in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date
of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable
law.
For
investor and media inquiries, please contact:
In
China:
Viomi
Technology Co., Ltd
Claire
Ji
E-mail:
ir@viomi.com.cn
Piacente
Financial Communications
Jenny
Cai
Tel:
+86-10-6508-0677
E-mail:
viomi@tpg-ir.com
In
the United States:
Piacente
Financial Communications
Brandi
Piacente
Tel:
+1-212-481-2050
E-mail:
viomi@tpg-ir.com
VIOMI
TECHNOLOGY CO., LTD
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(All
amounts in thousands, except shares, ADS, per share and per ADS data)
| | |
As
of
December
31, | | |
As
of
December
31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
US$ | |
| Assets | |
| | | |
| | | |
| | |
| Current assets | |
| | | |
| | | |
| | |
| Cash and cash equivalents | |
| 1,026,188 | | |
| 806,599 | | |
| 115,342 | |
| Restricted cash | |
| 141,292 | | |
| 164,431 | | |
| 23,513 | |
| Short-term deposits | |
| 115,014 | | |
| 257,950 | | |
| 36,886 | |
| Short-term investments | |
| 72,500 | | |
| 82,598 | | |
| 11,811 | |
| Accounts and notes receivable from third parties | |
| 24,105 | | |
| 24,535 | | |
| 3,508 | |
| Accounts receivable from related parties | |
| 591,221 | | |
| 340,173 | | |
| 48,644 | |
| Other receivables from related parties | |
| 11,234 | | |
| 200 | | |
| 29 | |
| Inventories | |
| 112,325 | | |
| 126,879 | | |
| 18,143 | |
| Prepaid expenses and other current assets | |
| 71,363 | | |
| 157,096 | | |
| 22,470 | |
| | |
| | | |
| | | |
| | |
| Total
current assets | |
| 2,165,242 | | |
| 1,960,461 | | |
| 280,346 | |
| | |
| | | |
| | | |
| | |
| Non-current assets | |
| | | |
| | | |
| | |
| Prepaid expenses and other non-current assets | |
| 18,053 | | |
| 19,055 | | |
| 2,725 | |
| Property, plant and equipment, net | |
| 315,309 | | |
| 305,432 | | |
| 43,676 | |
| Long-term deposits | |
| - | | |
| 20,101 | | |
| 2,874 | |
| Deferred tax assets | |
| 9,698 | | |
| 8,415 | | |
| 1,203 | |
| Intangible assets, net | |
| 8,524 | | |
| 6,255 | | |
| 894 | |
| Right-of-use assets, net | |
| 3,382 | | |
| 1,646 | | |
| 235 | |
| Land use rights, net | |
| 57,904 | | |
| 56,631 | | |
| 8,098 | |
| Long-term investment | |
| 7,588 | | |
| 12,952 | | |
| 1,852 | |
| | |
| | | |
| | | |
| | |
| Total
non-current assets | |
| 420,458 | | |
| 430,487 | | |
| 61,557 | |
| | |
| | | |
| | | |
| | |
| Total
assets | |
| 2,585,700 | | |
| 2,390,948 | | |
| 341,903 | |
| | |
| | | |
| | | |
| | |
| Liabilities and shareholders’
equity | |
| | | |
| | | |
| | |
| Current liabilities | |
| | | |
| | | |
| | |
| Accounts and notes payable | |
| 772,151 | | |
| 517,878 | | |
| 74,056 | |
| Advances from customers | |
| 11,537 | | |
| 10,153 | | |
| 1,452 | |
| Amount due to related parties | |
| 835 | | |
| 596 | | |
| 85 | |
| Accrued expenses and other liabilities | |
| 168,127 | | |
| 157,043 | | |
| 22,457 | |
| Short-term borrowing | |
| 50,000 | | |
| 40,000 | | |
| 5,720 | |
| Income tax payables | |
| 9,736 | | |
| 1,439 | | |
| 206 | |
| Lease liabilities due within one year | |
| 2,037 | | |
| 1,310 | | |
| 187 | |
| Long-term borrowing due
within one year | |
| 29,300 | | |
| 25,061 | | |
| 3,584 | |
| | |
| | | |
| | | |
| | |
| Total
current liabilities | |
| 1,043,723 | | |
| 753,480 | | |
| 107,747 | |
| | |
| | | |
| | | |
| | |
| Non-current liabilities | |
| | | |
| | | |
| | |
| Accrued expenses and other liabilities –
non-current portion | |
| 14,492 | | |
| 53,117 | | |
| 7,596 | |
| Long-term borrowing | |
| 75,945 | | |
| 51,666 | | |
| 7,388 | |
| Lease liabilities | |
| 1,783 | | |
| 421 | | |
| 60 | |
| | |
| | | |
| | | |
| | |
| Total
non-current liabilities | |
| 92,220 | | |
| 105,204 | | |
| 15,044 | |
| | |
| | | |
| | | |
| | |
| Total
liabilities | |
| 1,135,943 | | |
| 858,684 | | |
| 122,791 | |
VIOMI
TECHNOLOGY CO., LTD
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
(All
amounts in thousands, except shares, ADS, per share and per ADS data)
| | |
As
of
December
31, | | |
As
of
December
31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
US$ | |
| Shareholders’ equity | |
| | | |
| | | |
| | |
| Class A Ordinary Shares (US$0.00001 par value; 4,800,000,000
shares authorized; 101,059,544 and 99,200,641 shares issued and outstanding as of December 31, 2024 and December 31, 2025, respectively) | |
| 6 | | |
| 6 | | |
| 1 | |
| Class B Ordinary Shares (US$0.00001 par value; 150,000,000 shares authorized;
102,764,550 and 102,764,548 shares issued and outstanding as of December 31, 2024 and December 31, 2025, respectively) | |
| 6 | | |
| 6 | | |
| 1 | |
| Treasury stock | |
| (85,426 | ) | |
| (103,085 | ) | |
| (14,741 | ) |
| Additional paid-in capital | |
| 1,374,451 | | |
| 1,414,499 | | |
| 202,271 | |
| Retained earnings | |
| 153,125 | | |
| 226,317 | | |
| 32,363 | |
| Accumulated other comprehensive
(loss) income | |
| 2,279 | | |
| (11,080 | ) | |
| (1,584 | ) |
| | |
| | | |
| | | |
| | |
| Total
equity attributable to shareholders of the Company | |
| 1,444,441 | | |
| 1,526,663 | | |
| 218,311 | |
| | |
| | | |
| | | |
| | |
| Non-controlling interests | |
| 5,316 | | |
| 5,601 | | |
| 801 | |
| | |
| | | |
| | | |
| | |
| Total
shareholders’ equity | |
| 1,449,757 | | |
| 1,532,264 | | |
| 219,112 | |
| | |
| | | |
| | | |
| | |
| Total
liabilities and shareholders’ equity | |
| 2,585,700 | | |
| 2,390,948 | | |
| 341,903 | |
VIOMI
TECHNOLOGY CO., LTD
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE
INCOME
(All
amounts in thousands, except shares, ADS, per share and per ADS data)
| | |
Six
Months Ended | | |
Twelve
Months Ended | |
| | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Net revenues: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| A related party | |
| 1,146,448 | | |
| 853,823 | | |
| 122,097 | | |
| 1,819,098 | | |
| 2,214,789 | | |
| 316,711 | |
| Third parties | |
| 135,910 | | |
| 96,784 | | |
| 13,840 | | |
| 299,884 | | |
| 213,437 | | |
| 30,521 | |
| Total net revenues | |
| 1,282,358 | | |
| 950,607 | | |
| 135,937 | | |
| 2,118,982 | | |
| 2,428,226 | | |
| 347,232 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cost of revenues | |
| (992,863 | ) | |
| (726,759 | ) | |
| (103,927 | ) | |
| (1,570,276 | ) | |
| (1,813,226 | ) | |
| (259,288 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Gross
profit | |
| 289,495 | | |
| 223,848 | | |
| 32,010 | | |
| 548,706 | | |
| 615,000 | | |
| 87,944 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Operating expenses | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Research and development expenses | |
| (67,682 | ) | |
| (76,280 | ) | |
| (10,908 | ) | |
| (142,884 | ) | |
| (165,593 | ) | |
| (23,679 | ) |
| Selling and marketing expenses | |
| (114,563 | ) | |
| (148,647 | ) | |
| (21,257 | ) | |
| (211,173 | ) | |
| (277,681 | ) | |
| (39,708 | ) |
| General and administrative
expenses | |
| (39,301 | ) | |
| (23,094 | ) | |
| (3,302 | ) | |
| (70,807 | ) | |
| (86,123 | ) | |
| (12,315 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total
operating expenses | |
| (221,546 | ) | |
| (248,021 | ) | |
| (35,467 | ) | |
| (424,864 | ) | |
| (529,397 | ) | |
| (75,702 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Other income, net | |
| 15,872 | | |
| 33,880 | | |
| 4,845 | | |
| 32,492 | | |
| 42,951 | | |
| 6,142 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Income
from operations | |
| 83,821 | | |
| 9,707 | | |
| 1,388 | | |
| 156,334 | | |
| 128,554 | | |
| 18,384 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Interest (loss) income and short-term investment
income (loss), net | |
| (4,013 | ) | |
| 7,846 | | |
| 1,122 | | |
| 5,264 | | |
| 26,533 | | |
| 3,794 | |
| Other non-operating income | |
| - | | |
| (500 | ) | |
| (71 | ) | |
| - | | |
| (500 | ) | |
| (71 | ) |
| Income
before income tax expenses | |
| 79,808 | | |
| 17,053 | | |
| 2,439 | | |
| 161,598 | | |
| 154,587 | | |
| 22,107 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Income tax credits (expenses) | |
| (8,353 | ) | |
| 4,348 | | |
| 622 | | |
| (16,913 | ) | |
| (12,658 | ) | |
| (1,810 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net
income from continuing operations | |
| 71,455 | | |
| 21,401 | | |
| 3,061 | | |
| 144,685 | | |
| 141,929 | | |
| 20,297 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net loss from discontinued
operations | |
| (14,680 | ) | |
| - | | |
| - | | |
| (82,341 | ) | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net
income | |
| 56,775 | | |
| 21,401 | | |
| 3,061 | | |
| 62,344 | | |
| 141,929 | | |
| 20,297 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Less: Net (loss) income attributable to the
non-controlling interest shareholders | |
| (656 | ) | |
| 152 | | |
| 22 | | |
| (1,070 | ) | |
| 285 | | |
| 41 | |
VIOMI
TECHNOLOGY CO., LTD
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE
INCOME (CONTINUED)
(All
amounts in thousands, except shares, ADS, per share and per ADS data)
| | |
Six
Months Ended | | |
Twelve
Months Ended | |
| | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Net
income attributable to ordinary shareholders of the Company | |
| 57,431 | | |
| 21,249 | | |
| 3,039 | | |
| 63,414 | | |
| 141,644 | | |
| 20,256 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Including： | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income from continuing
operations attributable to ordinary shareholders of the Company | |
| 71,258 | | |
| 21,249 | | |
| 3,039 | | |
| 144,364 | | |
| 141,644 | | |
| 20,256 | |
| Net loss from discontinued
operations attributable to ordinary shareholders of the Company | |
| (13,827 | ) | |
| - | | |
| - | | |
| (80,950 | ) | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Other comprehensive income (loss), net of tax: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Foreign currency translation adjustment | |
| 8,959 | | |
| (9,484 | ) | |
| (1,356 | ) | |
| 16,607 | | |
| (13,359 | ) | |
| (1,910 | ) |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Total
comprehensive (loss) income attributable to ordinary shareholders of the Company | |
| 66,390 | | |
| 11,765 | | |
| 1,683 | | |
| 80,021 | | |
| 128,285 | | |
| 18,346 | |
VIOMI
TECHNOLOGY CO., LTD
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE
INCOME (CONTINUED)
(All
amounts in thousands, except shares, ADS, per share and per ADS data)
| | |
Six
Months Ended | | |
Twelve
Months Ended | |
| | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Net
(loss) income per ADS* | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| -Basic | |
| 0.84 | | |
| 0.31 | | |
| 0.04 | | |
| 0.92 | | |
| 2.08 | | |
| 0.30 | |
| Continuing Operations | |
| 1.04 | | |
| 0.31 | | |
| 0.04 | | |
| 2.11 | | |
| 2.08 | | |
| 0.30 | |
| Discontinued Operations | |
| (0.20 | ) | |
| - | | |
| - | | |
| (1.19 | ) | |
| - | | |
| - | |
| -Diluted | |
| 0.83 | | |
| 0.30 | | |
| 0.04 | | |
| 0.93 | | |
| 2.01 | | |
| 0.29 | |
| Continuing Operations | |
| 1.03 | | |
| 0.30 | | |
| 0.04 | | |
| 2.10 | | |
| 2.01 | | |
| 0.29 | |
| Discontinued Operations | |
| (0.20 | ) | |
| - | | |
| - | | |
| (1.17 | ) | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Weighted average number of ADS used in calculating
Non-GAAP net (loss) income per ADS | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| -Basic | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Continuing Operations | |
| 68,280,399 | | |
| 68,045,667 | | |
| 68,045,667 | | |
| 68,262,595 | | |
| 67,999,290 | | |
| 67,999,290 | |
| Discontinued Operations | |
| 68,280,399 | | |
| - | | |
| - | | |
| 68,262,595 | | |
| - | | |
| - | |
| -Diluted | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Continuing Operations | |
| 68,967,931 | | |
| 71,019,394 | | |
| 71,019,394 | | |
| 68,896,972 | | |
| 70,306,831 | | |
| 70,306,831 | |
| Discontinued Operations | |
| 68,967,931 | | |
| - | | |
| - | | |
| 68,896,972 | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net (loss) income per share
attributable to ordinary shareholders of the Company | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| -Basic | |
| 0.28 | | |
| 0.10 | | |
| 0.01 | | |
| 0.31 | | |
| 0.69 | | |
| 0.10 | |
| Continuing Operations | |
| 0.35 | | |
| 0.10 | | |
| 0.01 | | |
| 0.70 | | |
| 0.69 | | |
| 0.10 | |
| Discontinued Operations | |
| (0.07 | ) | |
| - | | |
| - | | |
| (0.39 | ) | |
| - | | |
| - | |
| -Diluted | |
| 0.27 | | |
| 0.10 | | |
| 0.01 | | |
| 0.31 | | |
| 0.67 | | |
| 0.10 | |
| Continuing Operations | |
| 0.34 | | |
| 0.10 | | |
| 0.01 | | |
| 0.70 | | |
| 0.67 | | |
| 0.10 | |
| Discontinued Operations | |
| (0.07 | ) | |
| - | | |
| - | | |
| (0.39 | ) | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Weighted average number of ordinary shares
used in calculating net (loss) income per share | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| -Basic | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Continuing Operations | |
| 204,841,197 | | |
| 204,137,000 | | |
| 204,137,000 | | |
| 204,787,786 | | |
| 203,997,871 | | |
| 203,997,871 | |
| Discontinued Operations | |
| 204,841,197 | | |
| - | | |
| - | | |
| 204,787,786 | | |
| - | | |
| - | |
| -Diluted | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Continuing Operations | |
| 206,903,793 | | |
| 213,058,181 | | |
| 213,058,181 | | |
| 206,690,917 | | |
| 210,920,493 | | |
| 210,920,493 | |
| Discontinued Operations | |
| 206,903,793 | | |
| - | | |
| - | | |
| 206,690,917 | | |
| - | | |
| - | |
*Each
ADS represents 3 ordinary shares.
VIOMI
TECHNOLOGY CO., LTD
UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE
INCOME (CONTINUED)
(All
amounts in thousands, except shares, ADS, per share and per ADS data)
| | |
Six
Months Ended | | |
Twelve
Months Ended | |
| | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| (1) Share-based compensation was allocated
in operating expenses as follows: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| General and administrative expenses | |
| 2,269 | | |
| 2,479 | | |
| 354 | | |
| 4,579 | | |
| 5,537 | | |
| 792 | |
| Research and development expenses | |
| 2,613 | | |
| 2,113 | | |
| 302 | | |
| 8,151 | | |
| 5,105 | | |
| 730 | |
| Selling and marketing expenses | |
| 1,018 | | |
| 2,329 | | |
| 334 | | |
| 3,720 | | |
| 3,439 | | |
| 492 | |
VIOMI
TECHNOLOGY CO., LTD
RECONCILIATIONS
OF GAAP AND NON-GAAP RESULTS
(All
amounts in thousands, except shares, ADS, per share and per ADS data)
| | |
Six
Months Ended | | |
Twelve
Months Ended | |
| | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Income from operations | |
| 83,821 | | |
| 9,707 | | |
| 1,388 | | |
| 156,334 | | |
| 128,554 | | |
| 18,384 | |
| Share-based compensation
expenses | |
| 5,900 | | |
| 6,921 | | |
| 990 | | |
| 16,450 | | |
| 14,081 | | |
| 2,014 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Non-GAAP
operating income | |
| 89,721 | | |
| 16,628 | | |
| 2,378 | | |
| 172,784 | | |
| 142,635 | | |
| 20,398 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income | |
| 56,775 | | |
| 21,401 | | |
| 3,060 | | |
| 62,344 | | |
| 141,929 | | |
| 20,297 | |
| Share-based compensation
expenses | |
| 5,900 | | |
| 6,921 | | |
| 990 | | |
| 16,450 | | |
| 14,081 | | |
| 2,014 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Non-GAAP
net income | |
| 62,675 | | |
| 28,322 | | |
| 4,050 | | |
| 78,794 | | |
| 156,010 | | |
| 22,311 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income attributable to ordinary shareholders
of the Company | |
| 57,431 | | |
| 21,249 | | |
| 3,039 | | |
| 63,414 | | |
| 141,644 | | |
| 20,255 | |
| Share-based compensation
expenses | |
| 5,900 | | |
| 6,921 | | |
| 990 | | |
| 16,450 | | |
| 14,081 | | |
| 2,014 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Non-GAAP
net income attributable to ordinary shareholders of the Company | |
| 63,331 | | |
| 28,170 | | |
| 4,029 | | |
| 79,864 | | |
| 155,725 | | |
| 22,269 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net income from continuing operations attributable
to ordinary shareholders of the Company | |
| 71,258 | | |
| 21,249 | | |
| 3,039 | | |
| 144,364 | | |
| 141,644 | | |
| 20,255 | |
| Share-based compensation expenses | |
| 5,900 | | |
| 6,921 | | |
| 990 | | |
| 16,450 | | |
| 14,081 | | |
| 2,014 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Non-GAAP net income from
continuing operations attributable to ordinary shareholders of the Company | |
| 77,158 | | |
| 28,170 | | |
| 4,029 | | |
| 160,814 | | |
| 155,725 | | |
| 22,269 | |
VIOMI
TECHNOLOGY CO., LTD
RECONCILIATIONS
OF GAAP AND NON-GAAP RESULTS (CONTINUED)
(All
amounts in thousands, except shares, ADS, per share and per ADS data)
| | |
Six
Months Ended | | |
Twelve
Months Ended | |
| | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | | |
December
31, 2024 | | |
December
31, 2025 | | |
December
31, 2025 | |
| | |
RMB | | |
RMB | | |
US$ | | |
RMB | | |
RMB | | |
US$ | |
| Non-GAAP net (loss) income
per ADS | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| -Basic | |
| 0.84 | | |
| 0.41 | | |
| 0.06 | | |
| 0.92 | | |
| 2.29 | | |
| 0.33 | |
| Continuing Operations | |
| 1.04 | | |
| 0.41 | | |
| 0.06 | | |
| 2.11 | | |
| 2.29 | | |
| 0.33 | |
| Discontinued Operations | |
| (0.20 | ) | |
| - | | |
| - | | |
| (1.19 | ) | |
| - | | |
| - | |
| -Diluted | |
| 0.83 | | |
| 0.40 | | |
| 0.06 | | |
| 0.93 | | |
| 2.21 | | |
| 0.32 | |
| Continuing Operations | |
| 1.03 | | |
| 0.40 | | |
| 0.06 | | |
| 2.10 | | |
| 2.21 | | |
| 0.32 | |
| Discontinued Operations | |
| (0.20 | ) | |
| - | | |
| - | | |
| (1.17 | ) | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Weighted average number of ADS used in calculating
Non-GAAP net (loss) income per ADS | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| -Basic | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Continuing Operations | |
| 68,280,399 | | |
| 68,045,667 | | |
| 68,045,667 | | |
| 68,262,595 | | |
| 67,999,290 | | |
| 67,999,290 | |
| Discontinued Operations | |
| 68,280,399 | | |
| - | | |
| - | | |
| 68,262,595 | | |
| - | | |
| - | |
| -Diluted | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Continuing Operations | |
| 68,967,931 | | |
| 71,019,394 | | |
| 71,019,394 | | |
| 68,896,972 | | |
| 70,306,831 | | |
| 70,306,831 | |
| Discontinued Operations | |
| 68,967,931 | | |
| - | | |
| - | | |
| 68,896,972 | | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Non-GAAP net (loss) income
per ordinary share | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| -Basic | |
| 0.28 | | |
| 0.14 | | |
| 0.02 | | |
| 0.30 | | |
| 0.76 | | |
| 0.11 | |
| Continuing Operations | |
| 0.35 | | |
| 0.14 | | |
| 0.02 | | |
| 0.70 | | |
| 0.76 | | |
| 0.11 | |
| Discontinued Operations | |
| (0.07 | ) | |
| - | | |
| - | | |
| (0.40 | ) | |
| - | | |
| - | |
| -Diluted | |
| 0.27 | | |
| 0.13 | | |
| 0.02 | | |
| 0.31 | | |
| 0.74 | | |
| 0.11 | |
| Continuing Operations | |
| 0.34 | | |
| 0.13 | | |
| 0.02 | | |
| 0.70 | | |
| 0.74 | | |
| 0.11 | |
| Discontinued Operations | |
| (0.07 | ) | |
| - | | |
| - | | |
| (0.39 | ) | |
| - | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Weighted average number of ordinary shares
used in calculating Non-GAAP net (loss) income per share | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| -Basic | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Continuing Operations | |
| 204,841,197 | | |
| 204,137,000 | | |
| 204,137,000 | | |
| 204,787,786 | | |
| 203,997,871 | | |
| 203,997,871 | |
| Discontinued Operations | |
| 204,841,197 | | |
| - | | |
| - | | |
| 204,787,786 | | |
| - | | |
| - | |
| -Diluted | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Continuing Operations | |
| 206,903,793 | | |
| 213,058,181 | | |
| 213,058,181 | | |
| 206,690,917 | | |
| 210,920,493 | | |
| 210,920,493 | |
| Discontinued Operations | |
| 206,903,793 | | |
| - | | |
| - | | |
| 206,690,917 | | |
| - | | |
| - | |
Note:
The non-GAAP adjustments do not have any tax impact as share-based compensation expenses are non-deductible for income tax purpose.
