Viomi Technology Co., Ltd Q4 FY2025 earnings call

• In 2025 second half, with national subsidy situation and strategic investment in overseas, achieved 9.5 billion yuan sales income and ~21.25 million yuan gross profit. Full year total sales income 24.3 billion yuan. - In North American market, Amazon channel performance outstanding, second half last year had triple-digit growth in sales, products ranked 19th in water purifier category and 4th in under-sink RO technique segment during black five. - In Southeast Asian market, working with main channels in Malaysia for strategic cooperation, launching localized products. - Brand building: Inviting famous actors/singers as brand directors, introducing new brand image in April 2026, commencing full operations of overseas premium production line in Wyoming. - By end of 2025, global patent broke through 1,950 in 14 countries and regions. - In 2026, plan to focus on overseas, deepen strategic markets, stick to difference-making route in domestic market, deepen AI and technology integration, strengthen collaborations with strategic partners.

Second half of 2025: Net revenue of 950.6 million RMB, net income attributable to ordinary shareholders of 21.2 million RMB. Revenues from home water system were 628.2 million RMB (decrease of 32.1% from same period 2024), consumables were 112.2 million RMB (decrease of 17.9% from same period 2024), kitchen appliances and others were 210.2 million RMB (decrease of 4.5% from same period 2024). Full year 2025: Total revenue of 2.4 billion RMB (increase of 14.6% year-over-year). Revenues from home water systems were 1.686 billion RMB (increase of 12.6% from 2024), consumables were 235 million RMB (decrease of 14.2% from 2024), kitchen appliances and others were 506.2 million RMB (increase of 47.6% from 2024). Gross profit in second half of 2025 was 223.8 million RMB (compared to 289.5 million RMB same period 2024), full year gross profit was 615 million RMB (compared to 548.7 million RMB 2024).

• In 2026, expect triple-digit growth in overseas revenue. - Anticipate 2026 to return to category's normal growth rate for water purifier despite domestic market challenges in first half due to high base in 2025. - Partnership with China Gas and others in 2026 to be a pilot year with expected incremental growth. - Anticipate company has potential to enter low double-digit growth in 2027.

Q: Share overall performance of company's self-owned brand Valmy in 2025 and key investment priorities for brand building this year.

A: In 2025, brand revenue primarily from domestic online channels, ranked 10th on Jindong annual brands and 19th on Amazon USA. Moving forward, adapt differentiated strategy in North America by launching distinct brands and positionings on online and offline channels, participate in WOC in Senegal and WQA in Miami in April 2026.

Q: Differences in market strategies between U.S. and Malaysia markets, key challenges encountered, plans to mitigate and overseas expansion goals for 2026.

A: In U.S., will launch series of new products for whole house, not just RU system; in Malaysia, mainly focus on offline with product form based on platform and adding ice water feature. Overseas market has uncertainties like geopolitics. 2026 expects triple-digit growth in overseas revenue.

Q: Core pathways for enhanced profitability in 2026 and beyond.

A: Extend overseas markets and accelerate growth in Viomi branded business, improve consumables revenue as long-term driver of margin improvements, increase free brand revenue contribution through overseas expansion and product portfolio expansion, broaden product lineup with higher margin products.