Summary by Moomoo AI
Viomi Technology reported robust FY2024 results with net revenues increasing 29.3% YoY to RMB2.12 billion, driven by 39% growth in home water systems revenue. The company achieved net income of RMB62.3 million, reversing losses from previous years. Income from operations rose 42% to RMB156.3 million, exceeding guidance.Following its strategic reorganization in August 2024, Viomi divested its IoT@Home portfolio to focus on core water solutions. The company's Vortex series water purifiers successfully launched in North America, achieving strong Kickstarter funding and Amazon sales. The company's "Water Purifier Gigafactory" strengthened manufacturing capabilities with 100% in-house production of core components.Looking ahead, Viomi plans to expand globally through four key initiatives: strengthening domestic market presence through AI innovation, accelerating international expansion in North America and Southeast Asia, maintaining R&D investment in water purification solutions, and deepening strategic partnerships to maximize manufacturing advantages.
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