Viomi Showcases AI-Driven Water Purification Technology at Investor Day

Viomi showcases water purification tech at investor day By Investing.com

GUANGDONG, China - Viomi Technology Co., Ltd (NASDAQ:VIOT) recently hosted its 2024 Investor Day, where it presented its advanced water purification technologies and manufacturing capabilities to over twenty investor representatives. The event, held on September 26, included tours of the Viomi Tech Park and the Water Purifier Gigafactory, as well as interactive sessions and discussions about the company's market strategy and product innovations. The company's CEO, Xiaoping Chen, and the head of Capital and Strategy, Sam Yang, led the presentations, highlighting Viomi's progress in intelligent home water solutions. The event showcased the company's tankless large-flux water purifiers and its ERO electrodialysis technology, which allows users to adjust water quality. Viomi also introduced its latest product, the Viomi Kunlun Mineral AI Water Purifier, which features a mineralizing filter technology. Investors were given a tour of the Water Purifier Gigafactory, where they observed the integrated industrial chain layout and automated production lines. The factory's annual production capacity is impressive, with the ability to produce 5 million water purifier units and 30 million filter cartridges. During the Q&A session, discussions focused on Viomi's competitive position, R&D, business model, and market strategy. The company emphasized its commitment to leveraging AI technology to enhance home water purification solutions. Viomi reported an increase in gross margin to 24.8% for the first half of 2024, up from 22.0% in the previous year. The company also saw a reduction in operating expenses by 19.2% year-over-year, which contributed to a net income of RMB 5.6 million and a non-GAAP net income of RMB 16.1 million. Furthermore, Viomi maintains a strong cash position with free cash assets totaling RMB 914.3 million. The company provided full-year guidance in its recent earnings release, estimating revenues from continuing businesses to be between RMB 1.7 billion and RMB 1.9 billion, with income from operations projected between RMB 110 million and RMB 130 million. This information is based on a press release statement from Viomi Technology Co., Ltd. In other recent news, Viomi Technology has reported a year-over-year revenue increase of 13% in its core home water solution products. The company's rigorous cost control measures have led to a 19.2% decrease in operating expenses, contributing to a net profit of RMB5.6 million. Despite a decline in revenues from its IoT @ Home portfolio and small appliances design orders, Viomi maintains a positive outlook for the year, projecting revenues between RMB1.7 billion and RMB1.9 billion. In the midst of a major business reorganization focusing on water purification, Viomi introduced the Quanxian AI water purifier, targeting cost advantages over bottled water. The company's expansion into international markets, particularly North America, is also noteworthy. Viomi Technology's balance sheet remains robust with RMB701.6 million in cash and cash equivalents. The company's commitment to innovation and meeting the evolving needs of consumers worldwide is evident in these recent developments. Despite some bearish highlights, such as a 6.2% increase in general and administrative expenses, the company's overall outlook remains positive. Viomi Technology's recent Investor Day event and financial performance align with several key metrics and insights from InvestingPro. The company's focus on innovation and market strategy is reflected in its financial position and stock performance. According to InvestingPro data, Viomi's market capitalization stands at $100.98 million, with a revenue of $306.73 million for the last twelve months as of Q2 2024. This revenue figure, however, represents a decline of 23.15% compared to the previous period, which may explain the company's emphasis on new product launches and manufacturing capabilities during the Investor Day. An InvestingPro Tip highlights that Viomi holds more cash than debt on its balance sheet, which corroborates the company's reported strong cash position of RMB 914.3 million. This financial stability could support Viomi's ongoing R&D efforts and market expansion plans. Another relevant InvestingPro Tip indicates that the stock has shown a strong return over the last three months, with data showing a 60.87% price total return over this period. This positive momentum might be attributed to investor optimism following the company's strategic initiatives and improved gross margins. For investors seeking a more comprehensive analysis, InvestingPro offers 9 additional tips that could provide further insights into Viomi's financial health and market position.

Focus on AI Water, Completed Strategic Reorganization - Viomi Investor Day By Investing.com

Guangdong, China, Sept. 27, 2024 (GLOBE NEWSWIRE) -- On September 26, 2024, Viomi Technology Co., Ltd (NASDAQ: 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 introduced in details about the production and operation, R&D and innovation, market layout, etc., and had an interactive Q&A session with investor representatives. Investors experienced 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. In the past 10 years, Viomi has continued to lead the industry in technological breakthroughs. We developed tankless large-flux water purifiers that provide fresh drinking water 24/7. By upgrading the water flux up to 2000G, we expanded purified water usage scenarios from drinking to cooking, washing vegetables, and more. In addition, we implemented ERO electrodialysis technology to offer adjustable water quality, ranging from pure water to natural mineral water, setting new trends in healthy living. At the Viomi Spring Water Purifier New Product Launch in March 2024, we 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 are impressed by Viomi's strong production and R&D capabilities and rich product matrix. During the event, investors also visited Viomi's Water Purifier Gigafactory, intuitively witnessing 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. When they learned that the annual production capacity of the gigafactory can reach 5 million units of the water purifier and 30 million filter cartridges, they marveled at the absolute strength of the company's advanced manufacturing. 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 carry out in-depth exchanges and 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. Using our 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 has successfully completed the major strategic 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. In the meantime, the Company implemented rigorous ~Focus' strategy in the first half of 2024, prioritizing high-quality development and consistently enhancing the operating performance. 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 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, we maintained a strong cash position, with free cash assets totaling RMB914.3 million. We also issued the full year guidance in our 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 our innovative achievements, gained a deeper understanding of Viomi's development history, and felt our R&D and manufacturing strength. Looking forward, we 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, increase investor trust and confidence in Viomi, providing long-term returns for investors, and sharing a promising future.