Viomi Technology Co (VIOT) has released an update.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Viomi Technology Co., Ltd, an IoT @ Home tech leader, reported a decrease in second-half and full-year 2023 revenues, with net revenues dropping to RMB1.189 billion from RMB1.596 billion in the previous year. Despite the revenue decline, the company achieved a higher gross margin of 23.8% and reduced its net loss margin significantly due to strategic restructuring, cost optimizations, and increased operational efficiency. Additionally, Viomi has expanded its global distribution network and solidified its position in the water purification sector, establishing two major business segments and strengthening its R&D and production capabilities.
For further insights into VIOT stock, check out TipRanks’ Stock Analysis page.
