Viomi Technology Co., Ltd (“Viomi” or the “Company”)
(NASDAQ: VIOT), a leading IoT @ Home technology company in China,
today announced its unaudited financial results for the second
quarter ended June 30, 2020.
Second Quarter 2020 Financial and
Operating Highlights
- Net revenues
reached RMB1,684.4 million (US$238.4 million), an increase of 45.2%
from the second quarter of 2019.
- Gross margin was
14.3%.
- Net income was
RMB10.3 million (US$1.5 million).
- Non-GAAP net
income1 was RMB41.5 million (US$5.9 million).
- Number of cumulative
household users reached more than 4.2 million, compared to
approximately 3.7 million as of the end of the first quarter of
2020 and approximately 2.3 million as of the end of the second
quarter of 2019.
- Percentage of household
users with at least two connected products reached 19.0%,
compared to 18.4% as of the end of the first quarter of 2020 and
16.1% as of the end of the second quarter of 2019.
- Number of Viomi offline
experience stores remained steady at approximately
1,500.
1 “Non-GAAP net income” is defined as net income
excluding share-based compensation expenses. See “Reconciliation of
GAAP and Non-GAAP Results” at the end of this press release.
“We saw meaningful improvements in operating
conditions in the second quarter as both the industry and the
overall economy continued to rebound from the impact of COVID-19
earlier this year. Driven by a robust ‘618’ sales season, combined
with successful new product launches such as our Viomi-branded air
conditioning systems, we are pleased to report that our second
quarter growth was significantly stronger than expected,” said Mr.
Xiaoping Chen, Founder, Chairman of the Board of Directors and
Chief Executive Officer of Viomi.
“The backbone of our growth over the years has
been our continued product innovation and new product launches
under our IoT @ Home strategic framework. With the recent
successful introductions of our Viomi-branded air conditioning
systems and our 21Face Interactive Smart Screen (TV), we now have a
comprehensive presence across the entire range of major scenarios
in the home environment. We also achieved positive advancements in
developing additional content partnerships for our flagship 21Face
large-screen refrigerators, having entered into a strategic
collaboration agreement with Kugou Music, a leading interactive
digital music-related services provider in China and subsidiary of
Tencent Music Entertainment Group. This partnership is in line with
our 5G IoT strategy, and will enrich our content offerings as well
as enhance the cross-scenario and cross-screen interactivity of
Viomi’s large-screen products,” added Mr. Chen. “To provide
innovative and exciting content for the imminent 5G + IoT era, we
continue to seek strategic partnerships with entertainment and
social media platforms. We believe these collaborations will help
further increase our user stickiness, create additional potential
monetization channels and further differentiate us from our
peers.
“The recent ‘618’ online shopping festival and
related promotional events were positive signs of an overall
recovery trend in the industry. Looking ahead to the second half,
the broader rebound in market demand, together with the ramp-up of
many of our newly launched products, including air conditioning
systems as well as the next-generation Viomi-branded water
purifiers and various small appliances products, will provide us
with the foundation to further strengthen our industry positioning,
enhance our brand recognition and deliver attractive returns.
Having successfully navigated these unprecedented and challenging
market conditions in the first half of 2020, we will continue to
execute our long-term strategies with a focus on high-quality
growth, stable cash flows and prudent risk control, while
positioning our Company to realize greater operational efficiencies
and economies of scale,” concluded Mr. Chen.
“Despite the lingering impact of COVID-19 as
well as ongoing macro uncertainties, we achieved year-over-year net
revenues growth of 45.2%, significantly exceeding our expectations
and again demonstrating the resilience of our business and our
ability to identify and capture attractive growth opportunities.
Our profitability remained relatively stable as compared to the
first quarter, as we continued the implementation of cost and
expense control initiatives during the quarter, mitigating the
margin impact of promotional campaigns and sales events such as the
‘618’ online shopping festival,” Mr. Shun Jiang, Chief Financial
Officer of Viomi, commented.
“While future industry-wide uncertainties and
challenges will be difficult to fully predict, based on our
assessment of the latest trends, we are cautiously optimistic that
our financial strength, operational flexibility and strategic
direction will allow us to continue delivering robust growth in the
second half,” Mr. Jiang concluded.
Second Quarter 2020 Financial Results
Net revenues increased by 45.2%
to RMB1,684.4 million (US$238.4 million) from RMB1,160.2 million
for the second quarter of 2019, primarily due to the successful
launch, continued rollout and significant increase in sales of
certain Viomi-branded and Xiaomi-branded products, offsetting the
broader industry-wide impacts of COVID-19.
IoT-enabled smart home products. Revenues from
IoT-enabled smart home products increased by 46.7% to RMB1,329.1
million (US$188.2 million) from RMB906.0 million for the second
quarter of 2019, primarily due to the successful launch and
continued rollout of certain new products.
- Smart water purification systems.
Revenues from smart water purification systems decreased by 22.6%
to RMB266.8 million (US$37.8 million) from RMB344.8 million for the
second quarter of 2019. The decline was primarily due to decreases
in average selling prices, which offset the continued
year-over-year growth in sales volumes.
- Smart kitchen and other smart
products. Revenues from smart kitchen and other smart products
increased by 89.3% to 1,062.3 million (US$150.4 million) from
RMB561.2 million for the second quarter of 2019. The growth was
primarily driven by the successful launch and continued rollout of
certain products, in particular Viomi-branded air conditioning
systems and Xiaomi-branded sweeper robots.
Consumable products. Revenues from consumable
products increased by 24.6% to RMB86.5 million (US$12.2 million)
from RMB69.4 million for the second quarter of 2019, primarily due
to increased demand for the Company’s water purifier filter
products.Value-added businesses. Revenues from value-added
businesses increased by 45.5% to RMB268.8 million (US$38.0 million)
from RMB184.8 million for the second quarter of 2019, primarily due
to new product introductions, together with increased demand for
the Company’s small appliances products.
Cost of revenues increased by
69.4% to RMB1,443.4 million (US$204.3 million) from RMB851.9
million for the second quarter of 2019.
Gross profit was RMB241.0
million (US$34.1 million), compared to RMB308.3 million for the
second quarter of 2019. Gross margin was 14.3%, compared to 26.6%
for the second quarter of 2019. The decline in gross margin was
primarily due to the shifts in the Company’s business and product
mix, including the pilot launch of the Company’s Viomi-branded air
conditioning systems, together with decreases in average selling
prices of certain product categories, such as water purifiers,
during major promotional events in the quarter.
Total operating expenses
increased by 13.3% to RMB239.4 million (US$33.9 million) from
RMB211.3 million for the second quarter of 2019, primarily due to
the growth of the Company’s business and an increase in share-based
compensation expenses of RMB20.9 million (US$3.0 million), which
was partially offset by continued implementation of expense control
initiatives during the quarter.
Research and development expenses were RMB60.7
million (US$8.6 million), compared to RMB59.6 million for the
second quarter of 2019. The increase was primarily due to an
increase in share-based compensation expenses of RMB17.5 million
(US$2.5 million) to attract and retain research and development
personnel, which was partially offset by continued implementation
of expense control initiatives during the quarter.
Selling and marketing expenses increased by
25.2% to RMB162.1 million (US$22.9 million) from RMB129.5 million
for the second quarter of 2019, primarily due to an increase in
logistics and promotional expenses as a result of the growth of the
Company’s business, which was partially offset by continued
implementation of expense control initiatives during the
quarter.
General and administrative expenses decreased by
25.0% to RMB16.7 million (US$2.4 million) from RMB22.2 million for
the second quarter of 2019, primarily due to continued
implementation of expense control initiatives during the quarter,
which offset an increase in share-based compensation expenses of
RMB4.6 million (US$0.7 million) to attract and retain senior
management personnel.
Income from operations was
RMB8.7 million (US$1.2 million), compared to RMB98.9 million for
the second quarter of 2019. Non-GAAP operating income2, excluding
the impact of share-based compensation expenses, was RMB40.0
million (US$5.7 million), compared to RMB109.2 million for the
second quarter of 2019.
Income before income tax
expenses was RMB16.4 million (US$2.3 million), compared to
RMB103.3 million for the second quarter of 2019.
Income tax expenses were RMB6.1
million (US$0.9 million), compared to RMB14.4 million for the
second quarter of 2019.
Net income was RMB10.3 million
(US$1.5 million), compared to RMB88.9 million for the second
quarter of 2019.
Non-GAAP net income was RMB41.5
million (US$5.9 million), compared to RMB99.3 million for the
second quarter of 2019.
2 “Non-GAAP operating income” is defined as
income from operation excluding share-based compensation expenses.
See “Reconciliation of GAAP and Non-GAAP Results” at the end of
this press release.
Balance Sheet
As of June 30, 2020, the Company had cash and
cash equivalents of RMB634.2 million (US$89.8 million), restricted
cash of RMB45.4 million (US$6.4 million), short-term deposits of
RMB72.6 million (US$10.3 million) and short-term investments of
RMB294.3 million (US$41.7 million).
Outlook
For the third quarter of 2020, the Company
currently expects:
- Net revenues to be between RMB1.40
billion and RMB1.45 billion, representing a year-over-year growth
of approximately 30.8% to 35.5%.
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
The Company’s management will host a conference
call at 8:00 a.m. Eastern Time on Monday, August 24, 2020 (8:00
p.m. Beijing Time on August 24, 2020) 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 (Toll
Free): |
400-120-1203 |
Hong Kong (Toll Free): |
800-905-945 |
Hong Kong: |
+852-3018-4992 |
Conference ID: |
10147261 |
A telephone replay will be available one hour
after the call until August 31, 2020 by dialing:
US (Toll Free): |
+1-877-344-7529 |
International: |
+1-412-317-0088 |
Replay Passcode: |
10147261 |
Additionally, a live and archived webcast of the conference call
will be available at http://ir.viomi.com.
About Viomi Technology
Viomi’s mission is to redefine the future home
via the concept of IoT @ Home.
Viomi has developed a unique IoT @ Home platform
consisting an ecosystem of innovative IoT-enabled smart home
products, together with a suite of complementary consumable
products and value-added businesses. This platform provides an
attractive entry point into the consumer home, enabling consumers
to intelligently interact with a broad portfolio of IoT products in
an intuitive and human-like manner to make daily life more
convenient, efficient and enjoyable, while allowing Viomi to grow
its household user base and capture various additional
scenario-driven consumption events in the home environment.
For more information, please visit:
http://ir.viomi.com.
Use of Non-GAAP Measures
The Company uses non-GAAP operating income,
non-GAAP net income, non-GAAP net income attributable to the
Company, non-GAAP net income attributable to ordinary shareholders,
non-GAAP basic and diluted net income per ordinary shares and
non-GAAP basic and diluted net income per ADS, which are non-GAAP
financial measures, in evaluating its operating results and for
financial and operational decision-making purposes. Non-GAAP
operating income is income from operations excluding share-based
compensation expenses. Non-GAAP net income is net income excluding
share-based compensation expenses. Non-GAAP net income attributable
to the Company is net income attributable to the Company excluding
share-based compensation expenses. Non-GAAP net income attributable
to ordinary shareholders is net income 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
purpose.
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.
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 RMB7.0651 to
US$1.00, the effective noon buying rate for June 30, 2020 as set
forth in the H.10 statistical release of the Federal Reserve Board.
No representation is made that the RMB amounts could have been, or
could be, converted, realized or settled into US$ at that rate on
for June 30, 2020, 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 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
third 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 relating to the Company’s industry 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:
In China:
Viomi Technology Co., LtdCecilia LiE-mail: ir@viomi.com.cn
The Piacente Group, Inc.Emilie WuTel: +86-21-6039-8363 E-mail:
viomi@tpg-ir.com
In the United States:
The Piacente Group, Inc. Brandi PiacenteTel:
+1-212-481-2050E-mail: viomi@tpg-ir.com
VIOMI TECHNOLOGY CO.,
LTDUNAUDITED 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, |
|
|
2019 |
|
2020 |
|
2020 |
|
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Current
assets |
|
|
|
|
|
|
Cash and cash equivalents |
|
972,438 |
|
634,163 |
|
89,760 |
Restricted cash |
|
30,567 |
|
45,430 |
|
6,430 |
Short-term deposits |
|
60,000 |
|
72,636 |
|
10,281 |
Short-term investments |
|
316,201 |
|
294,269 |
|
41,651 |
Accounts and notes receivable from third parties (net of allowance
of RMB2,006 and RMB4,216 as of December 31, 2019 and June 30, 2020,
respectively) |
|
316,189 |
|
405,889 |
|
57,450 |
Accounts receivable from a related party (net of allowance of nil
and RMB73 as of December 31, 2019 and June 30, 2020,
respectively) |
|
707,947 |
|
725,017 |
|
102,619 |
Other receivables from related parties (net of allowance of nil and
RMB12 as of December 31, 2019 and June 30, 2020, respectively) |
|
23,944 |
|
124,398 |
|
17,607 |
Inventories |
|
418,015 |
|
412,217 |
|
58,347 |
Prepaid expenses and other current assets |
|
62,314 |
|
82,106 |
|
11,621 |
|
|
|
|
|
|
|
Total current
assets |
|
2,907,615 |
|
2,796,125 |
|
395,766 |
|
|
|
|
|
|
|
Non-current
assets |
|
|
|
|
|
|
Prepaid expenses and other non-current assets |
|
11,170 |
|
33,111 |
|
4,687 |
Property, plant and equipment, net |
|
67,293 |
|
63,112 |
|
8,933 |
Deferred tax assets |
|
12,276 |
|
15,587 |
|
2,206 |
Intangible assets, net |
|
4,357 |
|
5,668 |
|
802 |
Right-of-use assets, net |
|
19,762 |
|
21,989 |
|
3,112 |
Long-term deposits |
|
- |
|
60,000 |
|
8,492 |
|
|
|
|
|
|
|
Total non-current
assets |
|
114,858 |
|
199,467 |
|
28,232 |
|
|
|
|
|
|
|
Total
assets |
|
3,022,473 |
|
2,995,592 |
|
423,998 |
|
|
|
|
|
|
|
Liabilities and
shareholders’ equity |
|
|
|
|
|
|
Current
liabilities |
|
|
|
|
|
|
Accounts and notes payable |
|
1,043,159 |
|
1,113,989 |
|
157,675 |
Advances from customers |
|
103,150 |
|
75,056 |
|
10,623 |
Amount due to related parties |
|
25,106 |
|
27,487 |
|
3,891 |
Accrued expenses and other liabilities |
|
325,042 |
|
286,313 |
|
40,525 |
Short-term borrowing |
|
95,868 |
|
- |
|
- |
Income tax payables |
|
33,522 |
|
21,332 |
|
3,019 |
Lease liabilities due within one year |
|
6,993 |
|
8,476 |
|
1,200 |
Total current
liabilities |
|
1,632,840 |
|
1,532,653 |
|
216,933 |
|
|
|
|
|
|
|
Non-current
liabilities |
|
|
|
|
|
|
Accrued expenses and other liabilities |
|
1,795 |
|
3,872 |
|
548 |
Lease liabilities |
|
13,391 |
|
14,393 |
|
2,037 |
Total non-current
liabilities |
|
15,186 |
|
18,265 |
|
2,585 |
|
|
|
|
|
|
|
Total
liabilities |
|
1,648,026 |
|
1,550,918 |
|
219,518 |
|
|
|
|
|
|
|
VIOMI TECHNOLOGY CO.,
LTDUNAUDITED 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, |
|
|
2019 |
|
2020 |
|
2020 |
|
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
|
Shareholders’
equity |
|
|
|
|
|
|
Class A Ordinary Shares (US$0.00001 par value; 4,800,000,000 shares
authorized; 98,444,732 and 98,927,945 shares issued and outstanding
as of December 31, 2019 and June 30, 2020, respectively) |
|
6 |
|
|
6 |
|
|
1 |
|
Class B Ordinary Shares (US$0.00001 par value; 150,000,000 shares
authorized; 110,850,000 and 110,310,000 shares issued and
outstanding as of December 31, 2019 and June 30, 2020,
respectively) |
|
6 |
|
|
6 |
|
|
1 |
|
Treasury stock |
|
- |
|
|
(14,325 |
) |
|
(2,028 |
) |
Additional paid-in capital |
|
1,192,332 |
|
|
1,241,120 |
|
|
175,669 |
|
Retained earnings |
|
195,596 |
|
|
220,583 |
|
|
31,221 |
|
Accumulated other comprehensive loss |
|
(19,145 |
) |
|
(8,670 |
) |
|
(1,227 |
) |
|
|
|
|
|
|
|
Total equity attributable
to shareholders of the Company |
|
1,368,795 |
|
|
1,438,720 |
|
|
203,637 |
|
|
|
|
|
|
|
|
Non-controlling interests |
|
5,652 |
|
|
5,954 |
|
|
843 |
|
|
|
|
|
|
|
|
Total shareholders’
equity |
|
1,374,447 |
|
|
1,444,674 |
|
|
204,480 |
|
|
|
|
|
|
|
|
Total liabilities and
shareholders’ equity |
|
3,022,473 |
|
|
2,995,592 |
|
|
423,998 |
|
|
|
|
|
|
|
|
|
|
|
Note: On January 1, 2020, the Company adopted
ASC326, “Financial Instruments-Credit Losses” using
modified-retrospective transition approach. Following the adoption
of this guidance, a cumulative-effect adjustment to retained
earnings, amounting to RMB2.4 million, was recognized as of January
1, 2020.
VIOMI TECHNOLOGY CO.,
LTDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME(All amounts in
thousands, except shares, ADS, per share and per ADS data)
|
|
Three Months Ended |
|
|
June 30, 2019 |
|
June 30, 2020 |
|
June 30, 2020 |
|
|
|
RMB |
|
RMB |
|
US$ |
|
|
|
|
|
|
Net revenues: |
|
|
|
|
A
related party |
|
487,736 |
|
813,012 |
|
115,074 |
|
Third parties |
|
672,417 |
|
871,352 |
|
123,332 |
|
Total net revenues |
|
1,160,153 |
|
1,684,364 |
|
238,406 |
|
|
|
|
|
|
Cost of revenues (including RMB5,025 and RMB217,482 with related
parties for the three months ended June 30, 2019 and 2020,
respectively) |
|
(851,876 |
) |
(1,443,402 |
) |
(204,301 |
) |
|
|
|
|
|
Gross
profit |
|
308,277 |
|
240,962 |
|
34,105 |
|
|
|
|
|
|
Operating
expenses(1) |
|
|
|
|
Research and development expenses
(including nil and RMB541 with a related party for the three months
ended June 30, 2019 and 2020, respectively) |
|
(59,573 |
) |
(60,670 |
) |
(8,587 |
) |
Selling and marketing expenses
(including RMB22,434 and RMB21,338, with related parties for the
three months ended June 30, 2019 and 2020, respectively) |
|
(129,498 |
) |
(162,107 |
) |
(22,945 |
) |
General and administrative
expenses |
|
(22,219 |
) |
(16,665 |
) |
(2,359 |
) |
|
|
|
|
|
Total operating
expenses |
|
(211,290 |
) |
(239,442 |
) |
(33,891 |
) |
Other income |
|
1,877 |
|
7,220 |
|
1,022 |
|
|
|
|
|
|
Income
from operations |
|
98,864 |
|
8,740 |
|
1,236 |
|
|
|
|
|
|
Interest income and investment
income |
|
4,002 |
|
7,097 |
|
1,005 |
|
Other non-operating
income |
|
435 |
|
594 |
|
84 |
|
|
|
|
|
|
Income before income tax
expenses |
|
103,301 |
|
16,431 |
|
2,325 |
|
|
|
|
|
|
Income tax expenses |
|
(14,364 |
) |
(6,114 |
) |
(865 |
) |
|
|
|
|
|
Net income |
|
88,937 |
|
10,317 |
|
1,460 |
|
|
|
|
|
|
Less: Net income attributable to
the non-controlling interest shareholders |
|
556 |
|
460 |
|
65 |
|
|
|
|
|
|
Net income attributable
to ordinary shareholders of the Company |
|
88,381 |
|
9,857 |
|
1,395 |
|
|
|
|
|
|
VIOMI TECHNOLOGY CO.,
LTDUNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE INCOME
(CONTINUED) (All amounts in thousands, except shares,
ADS, per share and per ADS data)
|
|
|
|
|
Three Months Ended |
|
|
June 30, 2019 |
June 30, 2020 |
|
June 30, 2020 |
|
|
|
RMB |
RMB |
|
US$ |
|
|
|
|
|
|
|
|
Net income attributable to the Company |
|
88,381 |
9,857 |
|
1,395 |
|
|
|
|
|
|
Other comprehensive
(loss)/income, net of tax |
|
|
|
|
Foreign currency translation
adjustment |
|
14,415 |
(839 |
) |
(119 |
) |
|
|
|
|
|
Total
comprehensive income attributable to the
Company |
|
102,796 |
9,018 |
|
1,276 |
|
|
|
|
|
|
Net income per
ADS* |
|
|
|
|
-Basic |
|
1.28 |
0.14 |
|
0.02 |
|
-Diluted |
|
1.23 |
0.14 |
|
0.02 |
|
|
|
|
|
|
Weighted average number of ADS
used in calculating net income per ADS |
|
|
|
|
-Basic |
|
69,266,667 |
69,648,247 |
|
69,648,247 |
|
-Diluted |
|
72,060,847 |
71,654,656 |
|
71,654,656 |
|
|
|
|
|
|
Net income per share
attributable to ordinary shareholders of the Company |
|
|
|
|
-Basic |
|
0.43 |
0.05 |
|
0.01 |
|
-Diluted |
|
0.41 |
0.05 |
|
0.01 |
|
|
|
|
|
|
Weighted average number of
ordinary shares used in calculating net income per share |
|
|
|
|
-Basic |
|
207,800,000 |
208,944,742 |
|
208,944,742 |
|
-Diluted |
|
216,182,540 |
214,963,969 |
|
214,963,969 |
|
|
|
|
|
|
|
|
*Each ADS represents 3
ordinary shares. |
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Share-based
compensation was allocated in operating expenses as follows: |
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
June 30, 2019 |
June 30, 2020 |
|
June 30, 2020 |
|
|
|
RMB |
RMB |
|
US$ |
|
|
|
|
|
|
|
|
General and administrative
expenses |
|
1,764 |
6,410 |
|
907 |
|
Research and development
expenses |
|
5,431 |
22,945 |
|
3,248 |
|
Selling and marketing
expenses |
|
3,136 |
1,863 |
|
264 |
|
VIOMI TECHNOLOGY CO.,
LTDReconciliations of GAAP And Non-GAAP
Results(All amounts in thousands, except shares, ADS, per
share and per ADS data)
|
|
Three Months Ended |
|
|
June 30, 2019 |
June 30, 2020 |
June 30, 2020 |
|
|
RMB |
RMB |
US$ |
|
|
|
|
|
Income from operations |
|
98,864 |
8,740 |
1,236 |
Share-based compensation
expenses |
|
10,331 |
31,218 |
4,419 |
|
|
|
|
|
Non-GAAP operating
income |
|
109,195 |
39,958 |
5,655 |
|
|
|
|
|
Net income |
|
88,937 |
10,317 |
1,460 |
Share-based compensation
expenses |
|
10,331 |
31,218 |
4,419 |
|
|
|
|
|
Non-GAAP net
income |
|
99,268 |
41,535 |
5,879 |
|
|
|
|
|
Net income attributable to the
Company |
|
88,381 |
9,857 |
1,395 |
Share-based compensation
expenses |
|
10,331 |
31,218 |
4,419 |
|
|
|
|
|
Non-GAAP net income
attributable to the Company |
|
98,712 |
41,075 |
5,814 |
|
|
|
|
|
Net income attributable to
ordinary shareholders |
|
88,381 |
9,857 |
1,395 |
Share-based compensation
expenses |
|
10,331 |
31,218 |
4,419 |
|
|
|
|
|
Non-GAAP net income
attributable to ordinary shareholders |
|
98,712 |
41,075 |
5,814 |
|
|
|
|
|
Non-GAAP net income
per ADS |
|
|
|
|
-Basic |
|
1.43 |
0.59 |
0.08 |
-Diluted |
|
1.37 |
0.57 |
0.08 |
|
|
|
|
|
Weighted average number of ADS
used in calculating Non-GAAP net income per ADS |
|
|
|
|
-Basic |
|
69,266,667 |
69,648,247 |
69,648,247 |
-Diluted |
|
72,060,847 |
71,654,656 |
71,654,656 |
|
|
|
|
|
Non-GAAP net income
per ordinary share |
|
|
|
|
-Basic |
|
0.48 |
0.20 |
0.03 |
-Diluted |
|
0.46 |
0.19 |
0.03 |
|
|
|
|
|
Weighted average number of
ordinary shares used in calculating Non-GAAP net income per
share |
|
|
|
|
-Basic |
|
207,800,000 |
208,944,742 |
208,944,742 |
-Diluted |
|
216,182,540 |
214,963,969 |
214,963,969 |
Note: The non-GAAP adjustments do not have any
tax impact as share-based compensation expenses are non-deductible
for income tax purpose.
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