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What is 1Q19 Miss and 2Q19 Guidance Raise Questions about?

Viomi Technology Co., Ltd. reported 1Q19 net revenues of RMB 676.2mm, a 104% year-over-year increase but 22% below estimates, with concerns about a slowdown reflected in 2Q19 guidance projecting only 66% growth. Despite the miss, the company saw growth in value-added businesses and an increase in unique households using its products. The report also highlights new product launches and an expansion in offline stores, but overall revenue estimates for FY19 and FY20 have been revised downward.

Author

lynn.angli

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EN