ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2024

ORGANIZATION AND PRINCIPAL ACTIVITIES

Schedule of principal subsidiaries and VIEs

As of December 31, 2024, details of the Company’s principal subsidiaries and VIEs were as follows:


			Percentage of
	Place of	Date of	beneficial		Principal
	incorporation	incorporation	ownership		activities
Subsidiaries:
Viomi HK	Hong Kong	January 30, 2015	100	%	Investment holding
Lequan	PRC	May 05, 2015	100	%	Investment holding
Codream HK	Hong Kong	August 20, 2019	100	%	Investment holding
Yunmi Hulian	PRC	December 9, 2019	100	%	Investment holding
Zhumeng Hulian	PRC	October 14, 2020	100	%	Investment holding
Guangdong Lizi	PRC	July 26, 2018	100	%	Home appliance development and sales
VIEs:
Guangzhou Interconnect	PRC	December 7, 2020	100	%	Internet information services
Beijing Viomi	PRC	January 12, 2015	100	%	No substantial business

Schedule of financial statement amounts and balances of VIEs


	As of December 31,
	2023	2024
	RMB	RMB
Cash and cash equivalents	28	7,179
Accounts receivable from third parties (net of allowance of nil and RMB19 as of December 31, 2023 and 2024, respectively)	—	62
Amounts due from Group companies	—	498,455
Inventories	48,794	68
Other assets	42,604	6,438
Total assets	91,426	512,202
Accounts and notes payable	—	4,320
Amounts due to Group companies	—	168
Accrued expenses and other liabilities	43,914	1,046
Other liabilities	14,971	186
Total liabilities	58,885	5,720


	Year ended December 31,
	2022	2023	2024
	RMB	RMB	RMB
Revenue from Group companies ⁽¹⁾	33,574	23,344	49,679
Revenue from a related party and third parties	1,581,464	1,433,072	903,402

Cost from Group companies	(921,869)	(790,069)	(533,402)
Cost from a related party and third parties	(317,877)	(350,185)	(312,125)

Net income (loss)	(54,008)	29,046	8,160

(1)	Inter-company revenues between VIEs and other subsidiaries

VIEs sell certain products and provide marketing services to other subsidiaries. For the years ended December 31, 2022, 2023 and 2024, the inter-company sales recognized by VIEs to Primary beneficiaries of VIEs and their subsidiaries for the years ended December 31, 2022, 2023 and 2024 are RMB33,574, RMB23,344 and RMB49,679, respectively.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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