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Title: Viomi Issued 2024H1 Unaudited Financial Results: Focus on AI Water, Return to Profit

China, 2nd Sep 2024 - On August 26, 2024, Viomi Technology Co., Ltd (NASDAQ: VIOT) issued its first half of 2024 unaudited financial results. Based on the financial report, the net revenues were US$143.1 million, net income attributable to ordinary shareholders of the Company was US$0.8 million. According to the management’s preliminary estimates, excluding the divested businesses, the estimated revenues from the remained businesses, mainly home water solution businesses and others, were more than US$110 million, with an estimated income from operations of more than US$7 million for the first half of 2024. In the meantime, the Company issued the full year guidance with the estimated revenues from the core home water businesses and others to be between US$240 million to US$260 million, and the income from operations between US$15 million to US$18 million.Focus on AI Water, Returns to Profit On July 19, 2024, the Company announced a major business 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. According to Mr. Xiaoping Chen, Founder and CEO of Viomi, the Company implemented rigorous ‘Focus’ strategy, prioritizing high-quality development and consistently enhancing the operating performance. “Specifically, 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...


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