$VIOT

Viomi Technology Co., Ltd

CIK:0001742770|SEC Filings

Consolidated Statements of Comprehensive (Loss) Income ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Net revenues:
Total net revenues	$ 347,232	¥ 2,428,226	¥ 2,118,982	¥ 1,638,736
Cost of revenues	(259,288)	(1,813,226)	(1,570,276)	(1,116,720)
Gross profit	87,944	615,000	548,706	522,016
Operating expenses
Research and development expenses	(23,679)	(165,593)	(142,884)	(148,879)
Selling and marketing expenses	(39,708)	(277,681)	(211,173)	(214,610)
General and administrative expenses	(12,315)	(86,123)	(70,807)	(57,346)
Total operating expenses	(75,702)	(529,397)	(424,864)	(420,835)
Other income, net	6,142	42,951	32,492	8,887
Income from operations	18,384	128,554	156,334	110,068
Interest income and short-term investment income, net	3,794	26,533	5,264	16,831
Other non-operating income (loss)	(71)	(500)		3,164
Income before income tax expenses	22,107	154,587	161,598	130,063
Income tax expenses	(1,810)	(12,658)	(16,913)	(13,588)
Net income from continuing operations	20,297	141,929	144,685	116,475
Net loss from discontinued operations			(82,341)	(205,808)
Net (loss) income	20,297	141,929	62,344	(89,333)
Less: Net (loss) income attributable to the non-controlling interest shareholders	41	285	(1,070)	(4,659)
Net (loss) income attributable to ordinary shareholders of the Company	20,256	141,644	63,414	(84,674)
Net income from continuing operations attributable to ordinary shareholders of the Company	20,256	141,644	144,364	116,768
Net loss from discontinued operations attributable to ordinary shareholders of the Company			(80,950)	(201,442)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment	(1,910)	(13,359)	16,607	10,007
Total comprehensive (loss) income attributable to ordinary shareholders of the Company	$ 18,346	¥ 128,285	¥ 80,021	¥ (74,667)
Net (loss) income per share attributable to ordinary shareholders of the Company
-Basic \| (per share)	$ 0.10	¥ 0.69	¥ 0.31	¥ (0.41)
Continuing Operations \| (per share)	0.10	0.69	0.70	0.57
Discontinued Operations \| (per share)	(0)		(0.39)	(0.98)
-Diluted \| (per share)	0.10	0.67	0.31	(0.41)
Continuing Operations \| (per share)	0.10	0.67	0.70	0.56
Discontinued Operations \| (per share)			¥ (0.39)	¥ (0.97)
Weighted average number of ordinary shares used in calculating net (loss) income per share
Continuing Operations	203,997,871	203,997,871	204,787,786	206,387,105
Discontinued Operations			204,787,786	206,387,105
Continuing Operations	210,920,493	210,920,493	206,690,917	207,667,763
Discontinued Operations			206,690,917	207,667,763
Related Party [Member]
Net revenues:
Total net revenues	$ 316,711	¥ 2,214,789	¥ 1,819,098	¥ 1,292,880
Operating expenses
Selling and marketing expenses \| ¥		(58,455)	(20,799)	(25,308)
Nonrelated Party [Member]
Net revenues:
Total net revenues	$ 30,521	¥ 213,437	¥ 299,884	¥ 345,856

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Cash flows from operating activities
Net (loss) income	$ 20,297	¥ 141,929	¥ 62,344	¥ (89,333)
Net loss from discontinued operations			82,341	205,808
Net loss from discontinued operations			82,341	205,808
Adjustment to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	6,024	42,127	28,978	36,941
Inventory write-down	56	390	(10,079)	9,363
Share-based compensation	2,013	14,080	16,450	106
Allowance (recovery of allowance) for credit losses	(184)	(1,288)	(4,359)	1,242
Loss of disposal of property and equipment	200	1,401	364	1,378
Deferred income tax expenses (benefits)	195	1,363	(4,773)	2,044
Investment loss (income)	1,457	10,189	(50)	462
Gain on early termination of right-of-use asset	(6)	(44)
Foreign currency exchange losses (gains), net	325	2,272	(225)
Changes in operating assets and liabilities:
Accounts and notes receivable from third parties	(46)	(321)	18,264	11,677
Accounts receivable from related parties	36,068	252,227	(588,030)	(4,370)
Inventories	(2,137)	(14,944)	55,057	13,841
Prepaid expenses and other current assets	(9,598)	(67,123)	22,497	(7,448)
Other receivables from related parties	1,578	11,034	452,950	5,217
Amounts due to related parties	(34)	(239)	(2,609)	1,089
Accounts and notes payable	(36,361)	(254,273)	454,697	(148,737)
Advances from customers	(198)	(1,384)	(18,296)	(7,102)
Income tax payables	(1,198)	(8,377)	8,088	1,124
Accrued expenses and other liabilities	3,972	27,774	8,666	12,667
Lease liabilities	(308)	(2,155)	(1,280)	(4,650)
Net cash provided by continuing operating activities	22,115	154,638	580,995	41,319
Net cash (used in) provided by discontinued operating activities			135,033	(144,547)
Net cash (used in) provided by operating activities	22,115	154,638	716,028	(103,228)
Cash flows from investing activities
Purchase of equipment	(5,886)	(41,164)	(28,606)	(103,372)
Purchase of lease hold improvement	(25)	(175)	(928)	(415)
Purchase of intangible assets	(47)	(330)		(653)
Purchase of short-term investments	(30,804)	(215,416)	(87,430)	(39,694)
Maturity of short-term investments	27,640	193,291	34,241	28,973
Disposal of property and equipment	60	420	416	898
Placement of long-term investments	(572)	(4,000)
Placement of long-term deposits	(24,310)	(170,000)
Maturities of long-term deposits	21,450	150,000
Placement of short-term deposits	(121,225)	(847,737)	(406,828)	(176,686)
Maturities of short-term deposits	100,420	702,247	470,459
Cash receipt from disposals of discontinued operations			65,000
Cashout due to the unconsolidated of discontinued operations			(348,136)
Net cash used in continuing investing activities	(33,299)	(232,864)	(301,812)	(290,949)
Net cash provided by discontinued investing activities			136,918	92,023
Net cash used in investing activities	(33,299)	(232,864)	(164,894)	(198,926)
Cash flows from financing activities
Proceeds from exercise of vested share options	49	344	110	19
Receipt of borrowing	5,880	41,118	58,513	49,091
Repayment of borrowing	(11,388)	(79,636)	(59,998)	(27,128)
Dividend Paid	(6,000)	(41,959)
Purchase of non-controlling interests	(1,105)	(7,728)
Capital injection in subsidiaries from an investor or a non-controlling shareholder			1,000	115
Repurchase of ordinary shares	(2,525)	(17,659)	(4,283)	(6,440)
Net cash provided by (used in) continuing financing activities	(15,089)	(105,520)	(4,658)	15,657
Net cash provided by (used in) discontinued financing activities			(30,000)	100,000
Net cash provided by (used in) financing activities	(15,089)	(105,520)	(34,658)	115,657
Effect of exchange rate changes on cash and cash equivalents	(1,819)	(12,704)	14,649	9,643
Net (decrease) increase in cash and cash equivalents and restricted cash	(28,092)	(196,450)	531,125	(176,854)
Cash and cash equivalents and restricted cash at the beginning of the year	166,947	1,167,480	636,355	813,209
Cash and cash equivalents and restricted cash at the end of the year	138,855	971,030	1,167,480	636,355
Less: cash, cash equivalents and restricted cash held for sales at end of the year				(411,028)
Cash, cash equivalents and restricted cash of continuing operations, end of the year	138,855	971,030	1,167,480	225,327
Cash and cash equivalents of continuing operations at the end of the year	115,342	806,599	1,026,188	206,405
Restricted cash of continuing operations at the end of the year	23,513	164,431	141,292	18,922
Supplemental disclosures of cash flow information:
Cash paid for income tax, net	(2,954)	(20,657)	(2,226)	(187)
Cash paid for interest expense	(853)	(5,968)	(5,734)	(5,644)
Acquisition of equipment in form of other payable	375	2,624	40,183	50,158
Obtaining a right-of-use asset in exchange for a lease liability	144	1,006
Decrease in a right-of-use asset due to remeasurement of lease terms	$ 128	¥ 896

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Current assets
Cash and cash equivalents	$ 115,342	¥ 806,599	¥ 1,026,188
Restricted cash	23,513	164,431	141,292
Short-term deposits	36,886	257,950	115,014
Short-term investments	11,811	82,598	72,500
Other receivables from related parties (net of allowance of RMB1 and nil as of December 31, 2024 and December 31, 2025, respectively)	29	200	11,234
Inventories, net	18,143	126,879	112,325
Prepaid expenses and other current assets	22,470	157,096	71,363
Total current assets	280,346	1,960,461	2,165,242
Non-current assets
Prepaid expenses and other non-current assets	2,725	19,055	18,053
Prepaid expenses and other non-current assets	43,676	305,432	315,309
Long-term deposits	2,874	20,101
Deferred tax assets	1,203	8,415	9,698
Intangible assets, net	894	6,255	8,524
Right-of-use assets, net	235	1,646	3,382
Land use rights, net	8,098	56,631	57,904
Long-term investment	1,852	12,952	7,588
Long-term investment	61,557	430,487	420,458
Total assets	341,903	2,390,948	2,585,700
Current liabilities
Accounts and notes payable (including accounts and notes payable of the consolidated variable interest entities and their subsidiaries (“VIEs”) without recourse to the Company of RMB4,320 and RMB26 as of December 31, 2024 and 2025, respectively)	74,056	517,878	772,151
Advances from customers	1,452	10,153	11,537
Amount due to related parties	85	596	835
Accrued expenses and other liabilities (including accrued expenses and other liabilities of the consolidated VIEs without recourse to the Company of RMB1,046 and RMB5,853 as of December 31, 2024 and 2025, respectively)	22,457	157,043	168,127
Short-term borrowing	5,720	40,000	50,000
Income tax payables	206	1,439	9,736
Lease liabilities due within one year	187	1,310	2,037
Long-term borrowing-current portion	3,584	25,061	29,300
Total current liabilities	107,747	753,480	1,043,723
Non-current liabilities
Accrued expenses and other liabilities – non-current portion	7,596	53,117	14,492
Long-term borrowing	7,388	51,666	75,945
Lease liabilities	60	421	1,783
Total non-current liabilities	15,044	105,204	92,220
Total liabilities	122,791	858,684	1,135,943
Commitments and contingencies (Note 23)
Shareholders’ equity
Treasury stock		(103,085)	(85,426)
Additional paid-in capital		1,414,499	1,374,451
Retained earnings		226,317	153,125
Accumulated other comprehensive income (loss)		(11,080)	2,279
Total equity attributable to shareholders of the Company	218,311	1,526,663	1,444,441
Non-controlling interests	801	5,601	5,316
Total shareholders’ equity	219,112	1,532,264	1,449,757
Total liabilities and shareholders' equity	341,903	2,390,948	2,585,700
Common Class A [Member]
Shareholders’ equity
Common stock value	1	6	6
Common Class B [Member]
Shareholders’ equity
Common stock value	1	6	6
Treasury stock \| $	(14,741)
Additional paid-in capital \| $	202,271
Retained earnings \| $	32,363
Accumulated other comprehensive income (loss) \| $	(1,584)
Nonrelated Party [Member]
Current assets
Accounts receivable	3,508	24,535	24,105
Related Party [Member]
Current assets
Accounts receivable	$ 48,644	340,173	591,221
Current liabilities
Amount due to related parties		¥ 596	¥ 835