The company reported a significant increase in revenue and net income compared to the same period last year. Viomi’s strong performance is attributed to its successful execution of its strategic initiatives, including the expansion of its product portfolio, the development of new technologies, and the focus on key markets. Viomi’s revenue for the first half of 2024 reached $120 million, a 30% increase from the same period last year. This growth was driven by strong demand for its smart home appliances, particularly in the Chinese market. The company’s net income also saw a substantial increase, rising to $10 million, compared to $2 million in the first half of 2023.

X, the CEO of the Company, the reorganization will streamline operations, reduce costs, and enhance the company’s competitive advantage. The reorganization will involve a significant shift in the company’s focus, moving away from its previous diversification efforts and concentrating on its core competencies. This shift will be achieved through the following key steps:

1. **Restructuring of the existing product portfolio:** The company will streamline its product offerings, eliminating redundant or less profitable products and focusing on its core strengths in home water solutions. This will involve consolidating existing brands and streamlining production processes. 2. **Optimization of the supply chain:** The company will optimize its supply chain by leveraging technology and data analytics to improve efficiency and reduce costs.

This facility, located in China, is a testament to Viomi’s commitment to innovation and scale. Viomi’s commitment to water purification extends beyond its manufacturing prowess. The company actively engages in research and development, constantly striving to improve existing technologies and develop new ones. This dedication to innovation is evident in its “Water Purifier Innovation Center,” where a team of experts works tirelessly to push the boundaries of water purification technology.