BEIJING, March 26, 2018 /PRNewswire/ -- Huami Corporation
("Huami" or the "Company") (NYSE: HMI), a biometric and activity
data-driven company with significant expertise in smart wearable
technology, today announced its unaudited financial results for the
fourth quarter and full year ended December
31, 2017.
Fourth Quarter 2017 Financial and
Operating Highlights
- Revenues reached RMB752.6
million (US$115.7 million),
representing an increase of 22.8% from the fourth quarter of
2016.
- Gross margin reached 22.2%, increasing from 20.2% in the
fourth quarter of 2016.
- Net income attributable to Huami Corporation was
RMB72.3 million (US$11.1 million), up 68.2% from the fourth
quarter of 2016.
- Basic and diluted net income per share attributable
to ordinary shareholders of Huami Corporation was RMB0.33 (US$0.05)
and RMB0.32 (US$0.05), respectively, compared with basic and
diluted net income per share of RMB0.18 and RMB0.17, respectively, for the fourth quarter of
2016.
- Pro forma basic and diluted net income per share
attributable to ordinary shareholders of Huami Corporation
was RMB0.39 (US$0.06) and RMB0.37 (US$0.06),
respectively, for the fourth quarter of 2017.[1]
- Adjusted net income attributable to Huami Corporation
was RMB86.5 million (US$13.3 million), up 50.8% from the fourth
quarter of 2016.
- Total units shipped reached 6.5 million, compared with
6.0 million in the fourth quarter of 2016.
- Mobile App MAUs reached
11.0 million as of December 31, 2017,
increased from 8.5 million as of December
31, 2016.
Full Year 2017 Financial and Operating Highlights
- Revenues reached RMB2,048.9
million (US$314.9 million),
representing an increase of 31.6% from the full year of 2016.
- Gross margin reached 24.1%, increasing from 17.7% for
the full year of 2016.
- Net income attributable to Huami Corporation was
RMB167.7 million (US$25.8 million), up 600.3% from net income of
RMB23.9 million for the full year of
2016.
- Basic and diluted net income per share attributable
to ordinary shareholders of Huami Corporation was RMB0.68 (US$0.10)
and RMB0.65 (US$0.10), respectively, compared with basic and
diluted net loss per share of RMB0.22
and RMB0.22, respectively, for the
full year of 2016.
- Pro forma basic and diluted net income per share
attributable to ordinary shareholders of Huami Corporation was
RMB0.90 (US$0.14) and RMB0.86 (US$0.13),
respectively, for the full year of 2017.
- Adjusted net income attributable to Huami Corporation
was RMB230.5 million (US$35.4 million), up 182.2% from RMB81.7 million for the full year of 2016.
- Total units shipped reached 18.1 million, compared with
17.8 million in the full year 2016.
[1]
Adjusted net income is a non-GAAP measure. Please refer to the
section "Use of Non-GAAP Measures" below for explanation of the
calculation of these measures. Pro forma basic and diluted net
income per share reflects the changes in our share capital that
occurred subsequent to our balance sheet date upon our initial
public offering. Refer to the section "Pro forma net income per
share" for further details.
|
"We are pleased to report strong full year 2017 results in our
first reporting quarter as an NYSE-listed company," said
Wang Huang, Chairman and
CEO. "Revenues grew by 31.6% in 2017 year-over-year and
were driven by strong sales of Xiaomi wearable products and the
launch of new products in our own Amazfit-branded product
line. We sold over 1 million Amazfit products in 2017, which
accounted for approximately 20% of
our total revenue.
"Our investments in research and development bore fruit in 2017,
and more importantly position us well for the future," Mr. Huang
continued. "As one example, our Amazfit Health Band was among
the first commercially available ECG-enabled wearable products that
was approved by the Chinese FDA, and allowed us to successfully
enter the healthcare vertical. We continue to look for ways to
further penetrate healthcare, public transportation, smart home and
office, and mobile payment as part of our extensive product and
service development.
"We are competitively well positioned and are excited about our
prospects in 2018 as we further develop our Chinese presence and
explore international market opportunities," Mr. Huang
concluded. "Our relationship with Xiaomi as its sole partner
for smart wearables is strong, and we remain committed to
developing cutting edge, affordable products under both the Xiaomi
and Amazfit brands including the expected launch of the Mi Band 3
in 2018. In addition, we continue to identify ways to leverage
relationships with millions of active users through the increased
functionality of our products which serves to strengthen our brand
in all markets we serve."
David Cui, Chief Financial
Officer, said, "In addition to solid top-line results, we also
reported robust growth in net income attributable to Huami
Corporation for 2017, which reached RMB167.7
million, up 600.3% from 2016. Our gross margin for the
year also showed healthy improvement climbing to 24.1% from 17.7%
in 2016. Strong demand for the Mi Band 2 lengthened the
product cycle, and benefits from supply chain efficiencies and
economies of scale were the drivers for margin improvement. As we
look to 2018 and expanding the products in our portfolio, we will
do so with a keen eye on cost control and managing
efficiencies."
Fourth Quarter 2017 Financial Results
Revenues increased by 22.8% to RMB752.6 million (US$115.7
million) from RMB613.0 million
in the fourth quarter of 2016, primarily due to an increase in the
sales of self-branded products.
Cost of revenues increased by 19.8% to RMB585.8 million (US$90.0
million) from RMB489.1million
in the fourth quarter of 2016. The increase was largely in line
with the rapid sales growth of self-branded products.
Gross profit increased by 34.7% to RMB166.8 million (US$25.6
million) from RMB123.9 million
in the fourth quarter of 2016. Gross margin increased to 22.2% from
20.2% in the fourth quarter of 2016. The increase was driven
by improved economies of scale as a result of the lengthened
product cycle of the Mi Band 2 as well as supply chain
efficiencies.
Total operating expenses increased by 13.7% to
RMB92.0 million (US$14.1 million) from RMB80.9 million in the fourth quarter of
2016.
Research and development expenses increased by 31.9% to
RMB45.2 million (US$7.0 million) from RMB34.3 million for the fourth quarter of 2016,
primarily due to an increase in expenditures for mobile application
development.
General and administrative expenses decreased by 3.6% to
RMB32.5 million (US$4.9 million) from RMB33.6 million for the fourth quarter of 2016,
primarily due to a decrease in foreign exchange loss.
Selling and marketing expenses increased by 10.2% to
RMB14.3 million (US$2.2 million) from RMB13.0 million for the fourth quarter of 2016,
primarily due to an increase in expenses to promote self-branded
products through e-commerce platforms.
Operating income was RMB74.8
million (US$11.5 million),
representing a 74.3% increase from RMB42.9
million for the fourth quarter of 2016.
Income before income tax increased by 58.3% to
RMB79.9 million (US$12.3 million) from RMB50.5 million for the fourth quarter of
2016.
Income tax expenses was RMB12.1
million (US$1.9 million),
compared with RMB6.8 million for the
fourth quarter of 2016.
Net income attributable to Huami Corporation
totaled RMB72.3 million (US$11.1 million), up 68.2% from RMB43.0 million for the fourth quarter of
2016.
Basic and diluted net income per share attributable to
ordinary shareholders of Huami Corporation was
RMB0.33 (US$0.05) and RMB0.32 (US$0.05),
respectively, compared with basic and diluted net income per share
of RMB0.18 and RMB0.17, respectively, for the fourth quarter of
2016.
Pro forma basic and diluted net income per share
attributable to ordinary shareholders of Huami
Corporation was RMB0.39
(US$0.06) and RMB0.37 (US$0.06),
respectively, for the fourth quarter of 2017.
Adjusted net income attributable to Huami Corporation,
which excludes share-based compensation expenses, increased by
50.8% to RMB86.5 million
(US$13.3 million) from RMB57.4 million for the fourth quarter of
2016.
Full Year 2017 Financial Results
Revenues increased by 31.6% to RMB2,048.9 million (US$314.9 million) from RMB1,556.5 million in the full year of 2016,
primarily due to an increase in the sales of both self-branded
products and Xiaomi wearable products.
Cost of revenues increased by 21.4% to RMB1,554.2 million (US$238.9 million) from RMB1,280.3 million in full year of 2016. This
increase was in line with the rapid growth of sales of
products.
Gross profit increased by 79.1% to RMB494.7 million (US$76.0
million) from RMB276.2 million
in the full year of 2016. Gross margin increased to 24.1% from
17.7% in the full year 2016. The increase in gross margin was
primarily attributable to improved economies of scale as a result
of the lengthened product cycle of the Mi Band 2, improved supply
chain efficiencies and a change in the product mix.
Total operating expenses increased by 19.0% to
RMB312.7 million (US$48.1 million) from RMB262.8 million for the full year of 2016.
Research and development expenses increased by 16.3% to
RMB153.8 million (US$23.6 million) for the full year of 2017 from
RMB132.3 million for the full year of
2016. The increase was primarily due to an increase in
share-based compensation and personnel related costs expenses to
retain the technology-related personnel as well as expenditures on
application development.
General and administrative expenses increased by 11.9% to
RMB114.9 million (US$17.7 million) from RMB102.6 million for the full year of 2016,
primarily due to an increase in professional service fees,
personnel-related costs and government fees and charges.
Selling and marketing expenses increased by 58.2% to
RMB44.0 million (US$6.8 million) from RMB27.8 million for the full year of 2016,
primarily due to an increase in personnel-related costs and an
increase in expenses to promote self-branded products through
e-commerce platforms.
Operating income was RMB182.0
million (US$28.0 million),
representing a 1,259.7% increase
from RMB13.4 million from the full
year of 2016.
Income before income tax increased by 564.9% to
RMB191.9 million (US$29.5 million) from RMB28.9 million for the full year of 2016.
Income tax expense was RMB27.6
million (US$4.2 million)
compared with RMB3.1 million for the
full year of 2016. The increase was attributable to an increase in
taxable income.
Net income totaled RMB167.1
million (US$25.7 million), up
597.8% from RMB23.9 million for the
full year of 2016.
Net income attributable to Huami Corporation was
RMB167.7millon (US$25.8 million), compared with RMB23.9 million for the full year of 2016.
Basic and diluted net income per share
attributable to ordinary shareholders of Huami Corporation was
RMB0.68 (US$0.10) and RMB0.65 (US$0.10),
respectively, compared with basic and diluted net loss per share of
RMB0.22 and RMB0.22, respectively, for the full year of
2016.
Pro forma basic and diluted net income per share
attributable to ordinary shareholders of Huami Corporation
was RMB0.90 (US$0.14) and RMB0.86 (US$0.13),
respectively, for the full year of 2017.
Adjusted net income attributable to Huami Corporation,
which excludes share-based compensation expenses, increased by
182.2% to RMB230.5 million
(US$35.4 million), from RMB81.7 million for the full year of
2016.
As of December 31, 2017, the
Company had cash and cash equivalents of RMB366.3 million (US$56.3
million), compared with RMB153.2
million as of December 31,
2016.
Outlook
For the first quarter of 2018, the Company currently
expects:
- Net revenues to be between RMB530.0
million to RMB550.0 million,
which would represent an increase of approximately 60.1% to 66.1%
from RMB331.1 million for the first
quarter of 2017.
The above outlook is based on the current market conditions and
reflects the Company's current and preliminary estimates of market
and operating conditions and customer demand, which are all subject
to change.
Conference Call
Management will hold a conference call at 8:00 a.m. Eastern Time on Monday, March 26, 2018
(8:00 p.m. Beijing Time on
March 26, 2018) to discuss financial
results and answer questions from investors and analysts. Listeners
may access the call by dialing:
US Toll
Free:
|
+1-888-346-8982
|
International:
|
+1-412-902-4272
|
Mainland
China:
|
400-120-1203
|
Hong Kong (Toll
Free):
|
800-905-945
|
Hong Kong:
|
+852-3018-4992
|
Passcode:
|
10118200
|
Participants should dial-in at least 5 minutes before the
scheduled start time and ask to be connected to the call for "Huami
Corporation."
A telephone replay will be available two hours after the call
until April 2, 2018 by dialing:
US Toll
Free:
|
+1-877-344-7529
|
International:
|
+1-412-317-0088
|
Canada Toll
Free:
|
855-669-9658
|
Replay
Passcode:
|
10118200
|
Additionally, a live and archived webcast of the conference call
will be available at http://ir.huami.com/.
About Huami Corporation
Huami is a biometric and activity data-driven company with
significant expertise in smart wearable technology. Since its
inception in 2013, Huami has quickly established its global market
leadership and recognition by shipping millions of units of smart
wearable devices. In the first nine months of 2017, Huami shipped
11.6 million units of smart wearable devices, more than any other
company in the world. Huami has one of the largest biometric and
activity databases in the global smart wearables industry. Huami's
mobile apps work hand in hand with its smart wearable devices and
provide users with a comprehensive view and analysis of their
biometric and activity data. In addition to designing,
manufacturing and selling smart bands and watches under its own
Amazfit brand, Huami is the sole partner of Xiaomi, a leading
mobile internet company and global consumer electronics brand, to
design and manufacture Xiaomi-branded smart bands, watches
(excluding children watches and quartz watches), scales and
associated accessories.
Pro forma net income per share
Our initial public offering and its accompanying restructuring
of share capital were completed in Feburary 2018. We therefore
separately present here the basic and diluted net income per share
on a pro forma basis to reflect the changes in our share capital
that occurred subsequent to the balance sheet date, specifically
including (i) the automatic conversion of all of our preferred
shares outstanding as of December 31,
2017 into class B ordinary shares on a one-for-one basis,
(ii) the issuance of 12,064,825 class B ordinary shares to
preferred shareholders immediately prior to our initial public
offering, and (iii) the sale of 41,600,000 class A ordinary shares
in the form of ADSs by us in our initial public offering
Use of Non-GAAP Measures
We use adjusted net income, a non-GAAP financial measure, in
evaluating our operating results and for financial and operational
decision-making purposes. Adjusted net income represents net income
excluding share-based compensation expenses, and such adjustment
has no impacts on income tax.
We believe that adjusted net income helps identify underlying
trends in our business that could otherwise be distorted by the
effect of certain expenses that we include in net income. We
believe that adjusted net income provides useful information about
our operating results, enhance the overall understanding of our
past performance and future prospects and allow for greater
visibility with respect to key metrics used by our management in
its financial and operational decision-making.
Adjusted net income, should not be considered in isolation or
construed as an alternative to net income, basic and diluted net
income per share attributable to ordinary shareholders of Huami
Corporation or any other measure of performance or as an indicator
of our operating performance. Investors are encouraged to review
the historical non-GAAP financial measures to the most directly
comparable GAAP measures. Adjusted net income, 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
our data. We encourage investors and others to review our financial
information in its entirety and not rely on a single financial
measure.
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.
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
cooperation with Xiaomi, the recognition of the Company's
self-branded products; the Company's growth strategies; trends and
competition in global wearable technology market; changes in the
Company's revenues and certain cost or expense accounting policies;
governmental policies relating to the Company's industry and
general economic conditions in China and the global. 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:
In China:
Huami Corporation
Grace Yujia Zhang
Tel: +86-10-5940-3255
E-mail: ir@huami.com
The Piacente Group, Inc.
Ross Warner |
Tel: +86-10-5730-6201
E-mail: huami@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Alan Wang
Tel: +1-212-481-2050
E-mail: huami@tpg-ir.com
HUAMI
CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars
("US$")
except for number of shares and per share data, or otherwise
noted)
|
|
|
As of December
31,
|
|
|
2016
|
|
2017
|
|
2017
|
|
|
|
|
Unaudited
|
|
Unaudited
|
|
|
RMB
|
|
RMB
|
|
US$
|
Assets
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
153,152
|
|
366,336
|
|
56,305
|
Restricted
cash
|
|
-
|
|
3,185
|
|
489
|
Accounts receivable
(net of allowance of nil and nil as of
December 31, 2016 and 2017, respectively)
|
|
19,707
|
|
32,867
|
|
5,052
|
Amounts due from
related parties, current (net of
allowance of nil and nil as of December 31, 2016 and
2017, respectively)
|
|
476,698
|
|
578,454
|
|
88,907
|
Inventories
|
|
192,372
|
|
249,735
|
|
38,384
|
Short-term
investments
|
|
9,236
|
|
13,721
|
|
2,109
|
Prepaid expenses and
other current assets
|
|
8,678
|
|
51,062
|
|
7,847
|
Total current
assets
|
|
859,843
|
|
1,295,360
|
|
199,093
|
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
10,801
|
|
28,755
|
|
4,420
|
Intangible asset,
net
|
|
1,223
|
|
5,339
|
|
821
|
Goodwill
|
|
-
|
|
5,930
|
|
911
|
Long-term
investments
|
|
78,057
|
|
74,875
|
|
11,508
|
Deferred tax
assets
|
|
22,972
|
|
41,895
|
|
6,439
|
Other non-current
assets
|
|
-
|
|
3,000
|
|
461
|
Total
assets
|
|
972,896
|
|
1,455,154
|
|
223,653
|
HUAMI
CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars
("US$")
except for number of shares and per share data, or otherwise
noted)
|
|
|
As of December
31,
|
|
|
|
2016
|
|
2017
|
|
2017
|
|
|
|
|
|
Unaudited
|
|
Unaudited
|
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
Liabilities
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
Accounts
payable
|
|
524,072
|
|
707,782
|
|
108,784
|
|
Advance from
customers
|
|
5,885
|
|
10,683
|
|
1,642
|
|
Amount due to related
parties, current
|
|
23,500
|
|
8,143
|
|
1,252
|
|
Accrued expenses and
other current liabilities
|
|
47,623
|
|
93,798
|
|
14,416
|
|
Income tax
payables
|
|
20,628
|
|
21,600
|
|
3,320
|
|
Notes
payable
|
|
2,662
|
|
5,243
|
|
806
|
|
Bank
borrowings
|
|
10,000
|
|
30,000
|
|
4,611
|
|
Total current
liabilities
|
|
634,370
|
|
877,249
|
|
134,831
|
|
|
|
|
|
|
|
|
|
Deferred tax
liabilities
|
|
-
|
|
916
|
|
141
|
|
Amount due to a
related party , non-current
|
|
-
|
|
3,076
|
|
473
|
|
Other non-current
liabilities
|
|
-
|
|
4,940
|
|
759
|
|
Total
liabilities
|
|
634,370
|
|
886,181
|
|
136,204
|
|
HUAMI
CORPORATION
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars
("US$")
except for number of shares and per share data, or otherwise
noted)
|
|
|
December
31,
|
|
|
|
2016
|
|
2017
|
|
2017
|
|
|
|
|
|
Unaudited
|
|
Unaudited
|
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
Mezzanine
equity
|
|
|
|
|
|
|
|
Series A convertible
redeemable participating
preferred shares
|
|
23,008
|
|
26,770
|
|
4,114
|
|
Series B-1
convertible redeemable participating
preferred shares
|
|
23,779
|
|
26,906
|
|
4,135
|
|
Series B-2
convertible redeemable participating
preferred shares
|
|
261,560
|
|
295,942
|
|
45,485
|
|
Total mezzanine
equity
|
|
308,347
|
|
349,618
|
|
53,734
|
|
|
|
|
|
|
|
|
|
(Deficit)/Equity
|
|
|
|
|
|
|
|
Ordinary
shares
|
|
56
|
|
56
|
|
9
|
|
Additional paid-in
capital
|
|
50,822
|
|
72,427
|
|
11,132
|
|
Accumulated (deficit)
retained earnings
|
|
(36,490)
|
|
131,192
|
|
20,164
|
|
Accumulated other
comprehensive income
|
|
15,791
|
|
13,291
|
|
2,043
|
|
Total Huami
Corporation shareholders' equity
|
|
30,179
|
|
216,966
|
|
33,348
|
|
Non-controlling
interests
|
|
-
|
|
2,389
|
|
367
|
|
Total
equity
|
|
30,179
|
|
219,355
|
|
33,715
|
|
Total liabilities,
mezzanine equity and equity
|
|
972,896
|
|
1,455,154
|
|
223,653
|
|
HUAMI
CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars
("US$")
except for number of shares and per share data, or otherwise
noted)
|
|
|
For the
three months ended December 31,
|
|
For the year
ended December 31,
|
|
|
2016
|
|
2017
|
|
2017
|
|
2016
|
|
2017
|
|
2017
|
|
|
|
|
Unaudited
|
|
Unaudited
|
|
|
|
Unaudited
|
|
Unaudited
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
Revenues
|
|
612,965
|
|
752,648
|
|
115,680
|
|
1,556,476
|
|
2,048,896
|
|
314,910
|
Cost of
revenues
|
|
489,112
|
|
585,825
|
|
90,040
|
|
1,280,324
|
|
1,554,194
|
|
238,875
|
Gross
profit
|
|
123,853
|
|
166,823
|
|
25,640
|
|
276,152
|
|
494,702
|
|
76,035
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling and
marketing
|
|
13,020
|
|
14,346
|
|
2,205
|
|
27,821
|
|
44,026
|
|
6,767
|
General and
administrative
|
|
33,601
|
|
32,406
|
|
4,981
|
|
102,644
|
|
114,880
|
|
17,657
|
Research and
development
|
|
34,296
|
|
45,237
|
|
6,953
|
|
132,304
|
|
153,827
|
|
23,643
|
Total
operating expenses
|
|
80,917
|
|
91,989
|
|
14,139
|
|
262,769
|
|
312,733
|
|
48,067
|
Operating
income
|
|
42,936
|
|
74,834
|
|
11,501
|
|
13,383
|
|
181,969
|
|
27,968
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
and expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Realized gain
from investments
|
|
-
|
|
38
|
|
6
|
|
-
|
|
2,373
|
|
365
|
Interest
income
|
|
108
|
|
1,540
|
|
237
|
|
754
|
|
3,003
|
|
462
|
Other
income
|
|
7,439
|
|
3,489
|
|
536
|
|
14,726
|
|
4,555
|
|
699
|
Income
before income tax
|
|
50,483
|
|
79,901
|
|
12,280
|
|
28,863
|
|
191,900
|
|
29,494
|
Income tax
expense
|
|
6,819
|
|
12,149
|
|
1,867
|
|
3,088
|
|
27,611
|
|
4,244
|
Income before loss
from
equity method investments
|
|
43,664
|
|
67,752
|
|
10,413
|
|
25,775
|
|
164,289
|
|
25,250
|
(Loss)/income
from equity
method investments
|
|
(673)
|
|
4,228
|
|
650
|
|
(1,829)
|
|
2,806
|
|
431
|
Net
Income
|
|
42,991
|
|
71,980
|
|
11,063
|
|
23,946
|
|
167,095
|
|
25,681
|
Less: Net loss
attributable to
non-controlling interest
|
|
-
|
|
(324)
|
|
(50)
|
|
-
|
|
(587)
|
|
(90)
|
Net income
attributable to
Huami Corporation
|
|
42,991
|
|
72,304
|
|
11,113
|
|
23,946
|
|
167,682
|
|
25,771
|
Less: Accretion
of Series A
Preferred Shares
|
|
842
|
|
976
|
|
150
|
|
3,209
|
|
3,762
|
|
578
|
Less: Accretion
of Series B-1
Preferred Shares
|
|
712
|
|
803
|
|
123
|
|
2,738
|
|
3,127
|
|
481
|
Less: Accretion
of Series B-2
Preferred Shares
|
|
7,831
|
|
8,831
|
|
1,357
|
|
30,121
|
|
34,382
|
|
5,284
|
Less:
Undistributed earnings
allocated to participating
preferred shares and nonvested
restricted shares
|
|
23,354
|
|
37,832
|
|
5,815
|
|
-
|
|
80,291
|
|
12,341
|
Net
income/(loss) attributable
to ordinary shareholders of
Huami Corporation
|
|
10,252
|
|
23,862
|
|
3,668
|
|
(12,122)
|
|
46,120
|
|
7,087
|
Net
income/(loss) per share
attributable to ordinary
shareholders of Huami
Corporation
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
income/(loss) per
ordinary share
|
|
0.18
|
|
0.33
|
|
0.05
|
|
(0.22)
|
|
0.68
|
|
0.10
|
Diluted
income/(loss) per
ordinary share
|
|
0.17
|
|
0.32
|
|
0.05
|
|
(0.22)
|
|
0.65
|
|
0.10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
average number of
shares used in computing net
(loss)/ income per share
|
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary share
- basic
|
|
56,640,889
|
|
71,920,852
|
|
71,920,852
|
|
55,612,626
|
|
67,777,592
|
|
67,777,592
|
Ordinary share
– diluted
|
|
64,750,677
|
|
80,507,984
|
|
80,507,984
|
|
55,612,626
|
|
76,291,901
|
|
76,291,901
|
HUAMI
CORPORATION
Reconciliation of GAAP and Non-GAAP Results
(Amounts in thousands of Renminbi ("RMB") and U.S. dollars
("US$")
except for number of shares and per share data, or otherwise
noted)
|
|
|
For the
three months ended December 31,
|
|
For the year
ended December 31,
|
|
|
2016
|
|
2017
|
|
2017
|
|
2016
|
|
2017
|
|
2017
|
|
|
|
|
Unaudited
|
|
Unaudited
|
|
|
|
Unaudited
|
|
Unaudited
|
|
|
RMB
|
|
RMB
|
|
US$
|
|
RMB
|
|
RMB
|
|
US$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Huami
Corporation
|
|
42,991
|
|
72,304
|
|
11,113
|
|
23,946
|
|
167,682
|
|
25,771
|
Share-based
compensation
expenses
|
|
14,372
|
|
14,212
|
|
2,184
|
|
57,735
|
|
62,787
|
|
9,650
|
Adjusted net
income attributable
to Huami Corporation
|
|
57,363
|
|
86,516
|
|
13,297
|
|
81,681
|
|
230,469
|
|
35,421
|
View original
content:http://www.prnewswire.com/news-releases/huami-corporation-reports-fourth-quarter-and-full-year-2017-unaudited-financial-results-300619231.html
SOURCE Huami Corporation