Viomi Technology reported H1 2024 net revenues of RMB1.04 billion, with gross margin improving to 24.8% from 22.0% YoY. The company achieved a turnaround with net income of RMB5.6 million, compared to a net loss of RMB57.3 million in H1 2023. Operating expenses decreased by 19.2% YoY to RMB292.3 million due to rigorous cost control measures.The company announced a major business reorganization to divest its IoT@Home portfolio products (excluding range hoods, gas stoves, and water heaters) by end of August 2024. Post-reorganization, Viomi will focus on its core home water solutions business, which generated estimated revenues over RMB800 million with operating income exceeding RMB50 million in H1 2024.Looking ahead, Viomi expects full-year 2024 revenues from continuing businesses to reach RMB1.7-1.9 billion, with operating income between RMB110-130 million. The company maintains a strong financial position with total cash and cash equivalents of RMB914.3 million as of June 30, 2024.

Viomi Technology reported H1 2024 net revenues of RMB1.04 billion, with gross margin improving to 24.8% from 22.0% YoY. The company achieved a turnaround with net income of RMB5.6 million, compared to a net loss of RMB57.3 million in H1 2023. Operating expenses decreased by 19.2% YoY to RMB292.3 million due to rigorous cost control measures.The company announced a major business reorganization to divest its IoT@Home portfolio products (excluding range hoods, gas stoves, and water heaters) by end of August 2024. Post-reorganization, Viomi will focus on its core home water solutions business, which generated estimated revenues over RMB800 million with operating income exceeding RMB50 million in H1 2024.Looking ahead, Viomi expects full-year 2024 revenues from continuing businesses to reach RMB1.7-1.9 billion, with operating income between RMB110-130 million. The company maintains a strong financial position with total cash and cash equivalents of RMB914.3 million as of June 30, 2024.