Guangdong, China, Sept. 27, 2024 — 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 provided details about the production and operation, R&D and innovation, market layout, etc., and had an interactive Q&A session with investor representatives. Investors witnessed 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. Over the past decade, Viomi has been at the forefront of technological advancements in the industry. The company developed tankless large-flux water purifiers that provide fresh drinking water 24/7. By increasing the water flux to 2000G, Viomi expanded purified water usage scenarios from drinking to cooking, washing vegetables, and more. Additionally, Viomi implemented ERO electrodialysis technology to offer adjustable water quality, ranging from pure water to natural mineral water, establishing new trends in healthy living. At the Viomi Spring Water Purifier New Product Launch in March 2024, Viomi 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 were impressed by Viomi’s strong production and R&D capabilities and extensive product portfolio.
During the event, investors also visited Viomi’s Water Purifier Gigafactory, gaining firsthand experience of 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. Upon learning that the annual production capacity of the gigafactory can reach 5 million units of the water purifier and 30 million filter cartridges, they were amazed by the company’s advanced manufacturing capabilities.
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 engage in in-depth 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. Leveraging its 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 successfully completed the major strategic reorganization, and will primarily focus on its core strengths in the home water solutions to enhance 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 a rigorous ‘Focus’ strategy in the first half of 2024, prioritizing high-quality development and consistently enhancing the operating performance. Viomi concentrated on its advantageous categories, boosting its core home water solution products’ revenue while further optimizing its product structure. As a result, the company’s 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, Viomi maintained a strong cash position, with free cash assets totaling RMB914.3 million. The company also issued the full year guidance in its 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 Viomi’s innovative achievements, gained a deeper understanding of Viomi’s development history, and witnessed its R&D and manufacturing strength. Looking forward, Viomi 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, Viomi will increase investor trust and confidence in Viomi, providing long-term returns for investors, and sharing a promising future.
CONTACT: Xuebo Li Viomi Technology Co., Ltd marketing at viomi.com