The following is a summary of the Viomi Technology Co., Ltd (VIOT) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Viomi reported Q4 2023 net revenues of RMB1,189 million, down from RMB1,596.4 million for the same period in 2022.

• The company increased its gross profit margin to 23.8% in Q4 2023, up from 1.6% in the second half of 2022.

• Operating expenses fell by 33.4% to RMB344.3 million, with net loss attributable to ordinary shareholders decreasing by 84% to RMB28.7 million, reflecting improved operational efficiency.

Business Progress:

• Viomi increased revenue contribution from home water solutions and consumable products by optimizing the product mix, resulting in a higher contribution of 36.8% compared to 32.2% year-on-year.

• The company successfully reorganized its business structure, creating two major business units, AI Water and AIoT@Home.

• Viomi expanded both offline and online distribution networks and made strides in overseas market expansion.

• The company launched the IoT Technology Park and applied for over 1,300 patents in the field of water purification, additionally unveiling new products like the Alpha X and the Master 3 MAX intelligent door lock.

More details: Viomi Technology IR

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