Viomi H1 2026 Revenue Halves to RMB740M; Swings to Net Loss Amid Subsidy Phase-Out
VIOT sits 19% above its 52-week low of $0.662.
Summary
Viomi reported H1 2026 revenue down 49.9% to RMB740.0 million and a net loss of RMB26.3 million, driven by the phase-out of Chinese government subsidies for water purifiers. The company is pivoting to overseas markets while maintaining a strong cash position and continuing its share repurchase program.
Key Events · Earnings and Guidance · VIOT
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Revenue Halves on Subsidy Phase-Out
H1 2026 net revenues fell 49.9% year over year to RMB740.0 million (US$109.1 million), driven by the phase-out of national subsidies for water purifiers and a high base effect from 2025.
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Swings to Net Loss
Net loss attributable to ordinary shareholders was RMB26.3 million (US$3.9 million), versus net income of RMB120.4 million in H1 2025. Gross margin declined to 24.0% from 26.5%.
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Segment Declines Broad-Based
Home water systems revenue fell 55.3% to RMB473.4 million and kitchen appliances fell 54.4% to RMB134.9 million. Consumables grew 6.9% to RMB131.7 million, the only segment to expand.
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Overseas Expansion Accelerates
Amazon e-commerce grew triple digits year over year, with the V6 Pro ranking Top 8 in its category during Prime Day. The company entered Singapore and Turkey, expanding beyond its Malaysia base.
Analysis · VIOT · Manufacturing
Viomi's first-half revenue collapsed 49.9% year over year to RMB740.0 million (US$109.1 million) as China's national subsidy phase-out hit its core water purifier category, and the company swung from a RMB120.4 million profit to a RMB26.3 million net loss. The decline is broad-based: home water systems revenue fell 55.3% and kitchen appliances fell 54.4%, while only consumables grew. Gross margin compressed to 24.0% from 26.5% on pricing pressure. Against that backdrop, the company is leaning on overseas expansion — Amazon e-commerce grew triple digits and it entered Singapore and Turkey — but the domestic demand shock is the dominant story. The balance sheet remains liquid with RMB603.8 million in cash, and the company reiterated its buyback program with US$16.2 million remaining, but the operating trajectory has deteriorated sharply.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 35.8% of the 1045 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, VIOT was trading at $0.79 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $51.3M. The 52-week trading range was $0.66 to $3.79. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.