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GUANGZHOU - Viomi Technology Co., Ltd (NASDAQ:VIOT), a prominent home water solution technology firm in China with a market capitalization of $91 million, has been notified of non-compliance with NASDAQ’s listing rules due to the delayed filing of its 2024 annual report. According to InvestingPro data, the company maintains strong financial health with more cash than debt on its balance sheet. The NASDAQ Stock Market issued a letter to Viomi on May 21, 2025, indicating the company’s failure to meet the filing deadline for its Form 20-F, which was due for the fiscal year ending December 31, 2024.
The company must now submit a plan to regain compliance within 60 days from the receipt of the Delinquency Letter. If NASDAQ approves Viomi’s compliance plan, it may grant an extension until November 11, 2025, for the company to fulfill the listing requirements. Viomi has expressed its intention to submit the required plan within the 60-day timeframe.
Currently, the Delinquency Letter does not affect the trading of Viomi’s ordinary shares, which are represented by American depositary shares on the Nasdaq Capital Market. Trading at a P/E ratio of 6.4, InvestingPro analysis indicates the stock is currently undervalued compared to its Fair Value. The announcement comes as part of the company’s obligation under NASDAQ Listing Rule 5810(b) to promptly disclose any deficiency notifications. Investors can access detailed valuation metrics and 10+ additional ProTips through InvestingPro’s comprehensive research platform.
Viomi, with its mission "AI for Better Water," focuses on using artificial intelligence to improve household drinking water solutions globally. The company, which reported revenues of $290 million in the last twelve months, has developed a business model that combines equipment and consumables, enhancing filter replacement rates and water quality monitoring. With liquid assets exceeding short-term obligations and a current ratio of 2.07, the company maintains a solid financial foundation for its operations. Viomi’s efforts aim to extend filter lifespan, reduce user costs, and cater to the increasing demand for cleaner drinking water.
The company boasts a "Water Purifier Gigafactory," which it claims to be a world-leading facility with an integrated industrial chain that ensures efficiency and supports continuous innovation in water purification technology. This facility is designed to help Viomi achieve economies of scale and foster the widespread adoption of residential water filtration systems.
This news article is based on a press release statement from Viomi Technology Co., Ltd.
In other recent news, Viomi Technology reported a significant 29.3% increase in net revenue for the full year 2024, reaching RMB 2.119 billion. Despite this impressive revenue growth, the company’s gross margin decreased from 31.9% in 2023 to 25.9%, reflecting potential cost pressures. Viomi managed to achieve a net income of RMB 62.3 million, reversing previous years’ losses, indicating a positive turnaround in their financial performance. The company’s strategic focus on international expansion and product innovation was evident, with revenue from home water systems growing by 39% year-over-year. Additionally, Viomi launched the Kunlun 4 Pro Alkaline Mineral Water Purifier, showcasing their commitment to integrating AI technology into their product offerings. This new product, developed in collaboration with the China University of Geosciences, emphasizes the company’s dedication to enhancing household water solutions. Viomi’s recent strategic reorganization, which included divesting certain IoT at-home businesses, has allowed them to streamline operations and focus more on their core water purification offerings. The company has also renewed its partnership with Xiaomi and is expanding its market presence in North America and Southeast Asia, further solidifying its global footprint.
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