Viomi Technology reports 2H of 2023 (RMB 0.15) vs (RMB 0.87) last year

Reports 1H of 2023 revenue $167.5M. Xiaoping Chen, Founder and CEO of Viomi, commented: “In 2023, despite the slowdown in consumption, we implemented our ‘Focus’ strategy, optimizing our product mix and improving our operational performance. Driven by the restructuring of our product mix, the revenue contribution from home water solutions and consumable products increased to 36.8% in 2023 from 32.2% in 2022. By implementing cost optimization and enhancing operating efficiency, we achieved a 2.2 percentage point increase in our gross margin, alongside a 33.4% reduction in operating expenses for the second half of 2023 compared to the corresponding period in 2022, leading to a significantly reduced net loss margin of 2.7%”