GUANGZHOU, China, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Viomi Technology Co., Ltd ("Viomi" or the "Company") $(VIOT)$, a leading technology company for home water solutions in China, today announced its unaudited financial results for the six months ended June 30, 2025.
First Half 2025 Financial Highlights(1)
-- Net revenues reached RMB1,477.6 million (US$206.3 million), representing
an increase of 76.6% from RMB836.6 million for the same period of 2024.
-- Net income attributable to ordinary shareholders of the Company was
RMB120.4 million (US$16.8 million), representing an increase of 64.7%
from RMB73.1 million for the same period of 2024.
(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.
Mr. Xiaoping Chen, Founder and CEO of Viomi, commented: "In the first half of 2025, we sustained our strong growth momentum following our strategic reorganization, achieving another record-high performance in revenue. Our total net revenues reached RMB1.48 billion, representing a year-over-year increase of 76.6%. Our net income reached RMB120.5 million with a net margin of 8.2%. These results underscore the vision and effectiveness of our strategic focus on the home water solutions. We have entered a new stage of high-quality, sustainable growth where we simultaneously grow scale and expand profitability."
"Amid rising global demand for healthy drinking water, we remain committed to our mission of 'AI for Better water.' We are growing our home water solutions business globally through three key engines: product innovation, market expansion, and brand enhancement. In the first half of the year, revenues from our core business 'Home Water Systems' increased by 84.8% year over year, serving as the primary driver of our scale expansion. Operational efficiency also improved significantly."
"Regarding product innovation, we launched a series of industry-leading solutions tailored to meet the diverse needs of different markets globally. In North America, we successfully introduced the MASTER M1, our first smart under-sink water purifier equipped with a 9-stage RO filtration system and an AI-powered touchscreen faucet that provides real-time monitoring of water quality, volume, and filter status. Our Vortex series also delivered strong results, ranking sixth in the under-sink tankless water purifier category on Amazon and receiving positive reviews from users. In Malaysia, we launched the INNO Mineral Water Purifier in partnership with a leading local channel distributor. With its compact design and advanced mineral water technology, the product meets Southeast Asian households' demand for both efficient space utilization and healthy drinking water. In China, we launched the Kunlun 4 Pro AI alkaline mineral water purifier, combining mineralization filters and AI-based regulation technology to simulate the composition of natural mineral water and enable dynamic pH control, allowing users to enjoy fresh, mildly alkaline mineral water at home."
"On the brand development front, we continued to strengthen Viomi's brand image of 'Technology + Health.' We are delighted to have the renowned Chinese actress Ms. Shengyi Huang join us as our brand spokesperson. Her healthy and graceful image aligns perfectly with our brand philosophy of 'making water better.' In addition, we joined hands with Olympic champion Mr. Liang Tian as our brand partner to advocate for a healthy water drinking lifestyle. In Malaysia, we invited famous singer Ms. Shila Amzah to serve as our local brand ambassador, leveraging her extensive local influence to accelerate our local market penetration and strengthen user awareness."
"With respect to manufacturing and R&D, our Water Purifier Gigafactory continued to advance its platform-based modularization strategy. By leveraging scalable functional module designs and flexible production lines, we were able to iterate products rapidly and respond to evolving global demand with agility. We are keenly focused on the launch of our overseas boutique factories. By integrating diversified functional modules, including instant heating, instant cooling, and ice-making, we will be able to expand our product portfolio and cater to regional water drinking preferences across North America, Europe, Southeast Asia, and beyond. To further strengthen our innovation, we continued to enhance two core laboratory systems: 'Cutting-edge Technologies' and 'Product Compliance & Reliability.' These laboratory systems ensure that our R&D processes comply with global certification standards and enable the rapid adoption of cutting-edge technologies. To date, Viomi has filed nearly 1,850 patents worldwide, establishing systemic technological barriers in critical areas such as AI water quality algorithms, mineral control, and energy-efficient water purification, laying a solid foundation to provide our users globally with a smarter and healthier water drinking experience."
"Looking ahead, we will continue to deepen our 'Global Water' strategy, aiming to drive breakthroughs in four key aspects. First, we will accelerate overseas channel expansion to continuously strengthen our global influence by focusing on key international markets. Second, we will further fortify the differentiated positioning of the Kunlun Series, continuing to emphasize its healthy product positioning as 'mineral water' to lead a quality upgrade in China's water purification consumption. Third, we will continue to advance technological iteration and product innovation through our modular platform by integrating new technologies, expanding our product portfolio, and meeting the personalized, scenario-specific drinking water needs of users worldwide. Lastly, we will deepen our collaboration with key strategic partners such as Xiaomi, JD.com, and Senheng, fully leveraging the scale advantages of our Gigafactory to deliver smarter, healthier water solutions and generate long-term, sustainable value for our shareholders, " Mr. Chen concluded.
First Half 2025 Financial Results
REVENUES
Net revenues were RMB1,477.6 million (US$206.3 million), an increase of 76.6% from RMB836.6 million for the same period of 2024, primarily attributable to the growth in the home water systems.
-- Home water systems. Revenues from home water systems were RMB1,058.3
million (US$147.8 million), an increase of 84.8% from RMB572.7 million
for the same period of 2024, primarily due to increased demand for home
water system products.
-- Consumables. Revenues from consumables were RMB123.2 million (US$17.2
million), a decrease of 12.6% from RMB141.0 million for the same period
of 2024, primarily due to technological iterations that have extended
filter lifespans and reduced replacement frequency.
-- Kitchen appliances and others. Revenues from kitchen appliances and
others were RMB296.1 million (US$41.3 million), an increase of 140.9%
from RMB122.9 million for the same period of 2024, primarily due to
increased sales of kitchen appliances to Xiaomi.
GROSS PROFIT
Gross profit was RMB391.2 million (US$54.6 million), compared to RMB259.2 million for the same period of 2024. Gross margin was 26.5%, compared to 31.0% for the same period of 2024. The decrease was primarily due to a change in product mix, as revenue contribution from kitchen appliances and other lower-margin products increased while the contribution from higher-margin consumables declined.
OPERATING EXPENSES
Total operating expenses were RMB281.4 million (US$39.3 million), an increase of 38.4% from RMB203.3 million for the same period of 2024, due to increased marketing and promotion expenditures, in addition to employee compensation costs from business expansion.
Research and development expenses were RMB89.3 million (US$12.5 million), an increase of 18.8% from RMB75.2 million for the same period of 2024, mainly attributable to an increase in employee compensation costs.
Selling and marketing expenses were RMB129.0 million (US$18.0 million), an increase of 33.6% from RMB96.6 million for the same period of 2024, mainly due to higher spending on marketing and promotions, coupled with increased employee compensation expenses.
General and administrative expenses were RMB63.0 million (US$8.8 million), an increase of 100.1% from RMB31.5 million for the same period of 2024, primarily due to increased employee compensation costs and a higher allowance for credit losses resulting from a higher accounts receivable balance.
INCOME FROM OPERATIONS
Income from operations was RMB118.8 million (US$16.6 million), compared to RMB72.5 million for the same period of 2024.
Non-GAAP operating income(2) was RMB126.0 million (US$17.6 million), compared to RMB83.1 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 INCOME(3)
Net income attributable to ordinary shareholders of the Company was RMB120.4 million (US$16.8 million), an increase of 64.7% from RMB73.1 million for the same period of 2024, which was in line with the revenue expansion.
Non-GAAP net income attributable to ordinary shareholders(4) of the Company was RMB127.6 million (US$17.8 million), an increase of 52.5% from RMB83.7 million for the same period of 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.
BALANCE SHEET
As of June 30, 2025, the Company had cash and cash equivalents of RMB709.2 million (US$99.0 million), restricted cash of RMB340.5 million (US$47.5 million), short-term deposits of RMB376.8 million (US$52.6 million), and short-term investments of RMB108.0 million (US$15.1 million), compared to RMB1,026.2 million, RMB141.3 million, RMB115.0 million, and RMB72.5 million, respectively, as of December 31, 2024.
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 RMB7.1636 to US$1.00, the effective noon buying rate for June 30, 2025, as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on for June 30, 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:
Viomi Technology Co., Ltd
Claire Ji
E-mail: ir@viomi.com.cn
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 June 30,
------------------ ------------------
2024 2025 2025
RMB RMB US$
Assets
Current assets
Cash and cash
equivalents 1,026,188 709,217 99,003
Restricted cash 141,292 340,540 47,538
Short-term deposits 115,014 376,771 52,595
Short-term
investments 72,500 108,009 15,077
Accounts and notes
receivable from
third parties 24,105 36,409 5,083
Accounts receivable
from related
parties 591,221 777,785 108,575
Other receivables
from related
parties 11,234 3,077 430
Inventories, net 112,325 114,378 15,967
Prepaid expenses and
other current
assets 71,363 68,000 9,492
------------------ --------- -------
Total current assets 2,165,242 2,534,186 353,760
------------------ --------- -------
Non-current assets
Prepaid expenses and
other non-current
assets 18,053 7,057 985
Property, plant and
equipment, net 315,309 314,876 43,955
Deferred tax assets 9,698 11,292 1,576
Intangible assets,
net 8,524 6,812 951
Right-of-use assets,
net 3,382 2,592 362
Land use rights, net 57,904 57,268 7,994
Long-term investment 7,588 7,517 1,049
------------------ --------- -------
Total non-current assets 420,458 407,414 56,872
------------------ --------- -------
Total assets 2,585,700 2,941,600 410,632
------------------ --------- -------
Liabilities and
shareholders' equity
Current liabilities
Accounts and notes
payable 772,151 983,264 137,258
Advances from
customers 11,537 12,800 1,787
Amount due to
related parties 835 8,212 1,146
Accrued expenses and
other liabilities 168,127 210,073 29,326
Short-term borrowing 50,000 40,000 5,584
Income tax payables 9,736 12,522 1,748
Lease liabilities
due within one
year 2,037 1,822 254
Long-term borrowing
due within one
year 29,300 27,400 3,825
Total current liabilities 1,043,723 1,296,093 180,928
------------------ --------- -------
Non-current liabilities
Accrued expenses and
other liabilities
-- non-current
portion 14,492 14,394 2,009
Long-term borrowing 75,945 64,146 8,954
Lease liabilities 1,783 962 134
Total non-current
liabilities 92,220 79,502 11,097
------------------ --------- -------
Total liabilities 1,135,943 1,375,595 192,025
------------------ --------- -------
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 June 30,
------------------ -------------------
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
101,104,970
shares issued
and outstanding
as of December
31, 2024 and
June 30, 2025,
respectively) 6 6 1
Class B Ordinary
Shares
(US$0.00001 par
value;
150,000,000
shares
authorized;
102,764,550 and
102,764,550
shares issued
and outstanding
as of December
31, 2024 and
June 30, 2025,
respectively) 6 6 1
Treasury stock (85,426) (85,426) (11,925)
Additional
paid-in capital 1,374,451 1,380,954 192,774
Retained earnings 153,125 266,612 37,218
Accumulated other
comprehensive
income (loss) 2,279 (1,596) (223)
Total equity
attributable to
shareholders of the
Company 1,444,441 1,560,556 217,846
------------------ --------- -------
Non-controlling
interests 5,316 5,449 761
------------------ --------- -------
Total shareholders'
equity 1,449,757 1,566,005 218,607
------------------ --------- -------
Total liabilities and
shareholders' equity 2,585,700 2,941,600 410,632
------------------ --------- -------
VIOMI TECHNOLOGY CO., LTD
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
(All amounts in thousands, except shares, ADS, per
share and per ADS data)
Six Months Ended
-------------------------------------------
June 30, 2024 June 30, 2025 June 30, 2025
RMB RMB US$
Net revenues:
Related parties 672,650 1,360,966 189,984
Third parties 163,974 116,653 16,284
------------ ------------ ------------
Total net revenues 836,624 1,477,619 206,268
Cost of revenues (577,413) (1,086,467) (151,665)
------------ ------------ ------------
Gross profit 259,211 391,152 54,603
------------ ------------ ------------
Operating expenses
Research and
development
expenses (75,202) (89,313) (12,468)
Selling and marketing
expenses (96,610) (129,034) (18,012)
General and
administrative
expenses (31,506) (63,029) (8,799)
------------ ------------ ------------
Total operating
expenses (203,318) (281,376) (39,279)
------------ ------------ ------------
Other income, net 16,620 9,071 1,266
------------ ------------ ------------
Income from
operations 72,513 118,847 16,590
------------ ------------ ------------
Interest income and
short-term
investment income,
net 9,277 18,687 2,609
Income before income
tax expenses 81,790 137,534 19,199
------------ ------------ ------------
Income tax expenses (8,560) (17,006) (2,374)
------------ ------------ ------------
Net income from
continuing
operations 73,230 120,528 16,825
------------ ------------ ------------
Net loss from
discontinued
operations (67,661) - -
------------ ------------ ------------
Net income 5,569 120,528 16,825
------------ ------------ ------------
Less: Net income
(loss) attributable
to the
non-controlling
interest
shareholders (414) 133 19
------------ ------------ ------------
Net income
attributable to
ordinary
shareholders of the
Company 5,983 120,395 16,806
------------ ------------ ------------
Including
Net income from
continuing
operations
attributable to
ordinary
shareholders of the
Company 73,106 120,395 16,806
Net loss from
discontinued
operations
attributable to
ordinary
shareholders of the
Company (67,123) - -
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
-------------------------------------------
June 30, 2024 June 30, 2025 June 30, 2025
RMB RMB US$
Net income
attributable to
ordinary
shareholders of the
Company 5,983 120,395 16,806
Other comprehensive
income (loss), net of
tax:
Foreign currency
translation
adjustment 7,648 (3,875) (541)
------------ ------------ ------------
Total comprehensive
income attributable
to ordinary
shareholders of the
Company 13,631 116,520 16,265
------------ ------------ ------------
Net income (loss) per
ADS(*)
-Basic 0.09 1.77 0.25
Continuing
Operations 1.07 1.77 0.25
Discontinued
Operations (0.98) - -
-Diluted 0.09 1.75 0.24
Continuing
Operations 1.07 1.75 0.24
Discontinued
Operations (0.98) - -
Weighted average
number of ADS used in
calculating net
income (loss) per
ADS
-Basic
Continuing
Operations 68,244,454 67,952,145 67,952,145
Discontinued
Operations 68,244,454 - -
-Diluted
Continuing
Operations 68,562,258 68,621,698 68,621,698
Discontinued
Operations 68,562,258 - -
Net income (loss) per
share attributable to
ordinary shareholders
of the Company
-Basic 0.03 0.59 0.08
Continuing
Operations 0.36 0.59 0.08
Discontinued
Operations (0.33) - -
-Diluted 0.03 0.58 0.08
Continuing
Operations 0.36 0.58 0.08
Discontinued
Operations (0.33) - -
Weighted average
number of ordinary
shares used in
calculating net
income (loss) per
share
-Basic
Continuing
Operations 204,733,363 203,856,436 203,856,436
Discontinued
Operations 204,733,363 - -
-Diluted
Continuing
Operations 205,686,774 205,865,093 205,865,093
Discontinued
Operations 205,686,774 - - *Each ADS represents 3 ordinary shares.
(1) Share-based compensation was allocated in operating expenses as follows:
Six Months Ended
-------------------------------------------
June 30, 2024 June 30, 2025 June 30, 2025
RMB RMB US$
General and administrative
expenses 2,310 3,058 427
Research and development
expenses 5,538 2,992 418
Selling and marketing
expenses 2,702 1,110 155
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
-------------------------------------------
June 30, 2024 June 30, 2025 June 30, 2025
RMB RMB US$
Income from operations 72,513 118,847 16,590
Share-based compensation
expenses 10,550 7,160 1,000
------------ ------------- -------------
Non-GAAP operating income 83,063 126,007 17,590
------------ ------------- -------------
Net income 5,569 120,528 16,825
Share-based compensation
expenses 10,550 7,160 1,000
------------ ------------- -------------
Non-GAAP net income 16,119 127,688 17,825
------------ ------------- -------------
Net income from
continuing operations
attributable to ordinary
shareholders of the
Company 73,106 120,395 16,806
Share-based compensation
expenses 10,550 7,160 1,000
------------ ------------- -------------
Non-GAAP net income from
continuing operations
attributable to ordinary
shareholders of the
Company 83,656 127,555 17,806
------------ ------------- -------------
Non-GAAP net income
(loss) per ADS
-Basic 0.25 1.88 0.26
Continuing Operations 1.23 1.88 0.26
Discontinued Operations (0.98) - -
-Diluted 0.24 1.86 0.26
Continuing Operations 1.22 1.86 0.26
Discontinued Operations (0.98) - -
Weighted average number
of ADS used in
calculating Non-GAAP net
income (loss) per ADS
-Basic
Continuing Operations 68,244,454 67,952,145 67,952,145
Discontinued Operations 68,244,454 - -
-Diluted
Continuing Operations 68,562,258 68,621,698 68,621,698
Discontinued Operations 68,562,258 - -
Non-GAAP net income
(loss) per ordinary
share
-Basic 0.08 0.63 0.09
Continuing Operations 0.41 0.63 0.09
Discontinued Operations (0.33) - -
-Diluted 0.08 0.62 0.09
Continuing Operations 0.41 0.62 0.09
Discontinued Operations (0.33) - -
Weighted average number
of ordinary shares used
in calculating Non-GAAP
net income (loss) per
share
-Basic
Continuing Operations 204,733,363 203,856,436 203,856,436
Discontinued Operations 204,733,363 - -
-Diluted
Continuing Operations 205,686,774 205,865,093 205,865,093
Discontinued Operations 205,686,774 - -
Note: The non-GAAP adjustments do not have any tax impact as share-based compensation expenses are non-deductible for income tax purpose.
(END) Dow Jones Newswires
November 10, 2025 04:00 ET (09:00 GMT)
Comments