Viomi Technology Co (VIOT) has released an update.
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Viomi Technology Co., Ltd, a leader in home water solutions in China, has announced a return to profitability with a net income of RMB5.6 million for the first half of 2024, representing a significant turnaround from the net loss in the previous year. The company’s gross margin improved to 24.8%, aided by a strategic focus on high-quality development and stringent cost controls. Despite a strategic shift causing a decrease in overall net revenues, the company saw an increase in its home water solutions revenue by 12.9% and expects further growth following a business reorganization aimed at concentrating on their core strengths.
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