v3.26.1
RELATED PARTY TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
SUMMARY OF RELATED PARTY TRANSACTION RELATIONSHIP

SUMMARY OF RELATED PARTY TRANSACTION RELATIONSHIP  

Name  Relationship with the Group
Mr. Xiaoping Chen  Founder
Foshan Viomi and its subsidiaries (“Foshan Viomi”)*  Controlled by a principal shareholder of the Company
Xiaomi  Shareholder of the Group

 

*Due to the Disposal as mentioned above (See Note 1), the existing VIE contractual arrangements between Yunmi Hulian and Foshan Viom was terminated on July 19, 2024, which resulted in Foshan Viomi’s shareholder, Mr. Chen, fully controlling Foshan Viomi and its subsidiaries. As a result, Foshan Viomi and its subsidiaries became to the Group’s related parties since August 31, 2024.
SUMMARY OF RELATED PARTY TRANSACTIONS

SUMMARY OF RELATED PARTY TRANSACTIONS 

(1)Amount due from/to related parties

 

       
   As of December 31, 
   2024   2025 
   RMB   RMB 
Accounts receivable from related parties:          
Xiaomi(a)   591,221    304,078 
Foshan Viomi (c)   -    36,095 
Total   591,221    340,173 
           
Other receivables from related parties:          
Other receivables from Xiaomi   100    200 
Other receivables from Foshan Viomi   11,134    - 
Total   11,234    200 
           
Amounts due to related parties:          
Purchase and other payable to Xiaomi(a)   835    596 
Total   835    596 

 

(2)Purchase from related parties

 

          
   Year ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Foshan Viomi(c)   -    17,144    9,763 
Xiaomi(a)   26,341    13,546    - 
Total   26,341    30,690    9,763 

 

 

VIOMI TECHNOLOGY CO., LTD

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2023, 2024 AND 2025

(Amounts in thousands, except shares, ADS, per share and per ADS data)

 

20.RELATED PARTY TRANSACTIONS (Continued)

 

(3)Revenue from related parties

 

          
   Year ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Xiaomi(a)   1,292,880    1,752,246    2,174,895 
Foshan Viomi(c)   -    66,852    39,894 
Total   1,292,880    1,819,098    2,214,789 

 

(4) Research and development expenses

 

          
   Year ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Xiaomi(a)   716    273    - 

 

(5) Selling and marketing expenses

 

          
   Year ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Other expenses charged by Foshan Viomi(d)   -    400    9,861 
Commission expenses charged by Xiaomi (b)   24,511    20,399    48,594 
Other expenses charged by Xiaomi(b)   797    -    - 
Total   25,308    20,799    58,455 

 

(6) Other income and expenses

 

          
   Year ended December 31, 
   2023   2024   2025 
   RMB   RMB   RMB 
Interest income(e)   -    1,902    - 
Interest expense(f)   -    485    - 
Total   -    2,387    - 

 

(a)The Group both sells water purifiers and other products to and purchase Xiaomi branded products and certain raw materials from Xiaomi. The amount due from Xiaomi represents receivable arising from sales of water purifiers and other products. The balance due to Xiaomi represents payable arising from purchase of Xiaomi branded products and certain raw materials.

 

(b)The Group sells its own brand products on the E-platform of Xiaomi, which charges the Group commission and technical service fees, also Xiaomi provides advertising and promotion service. The amount due from Xiaomi represents sales receivable net of commission, advertising and promotion service.
   
  Certain amounts in prior periods have been reclassified to conform with current period presentation. These reclassifications had no impact on the Group’s consolidated financial statements.

 

 

VIOMI TECHNOLOGY CO., LTD

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2023, 2024 AND 2025

(Amounts in thousands, except shares, ADS, per share and per ADS data)

 

20.RELATED PARTY TRANSACTIONS (Continued)

 

  (c) The Group purchases certain raw materials from Foshan Viomi and its subsidiaries. The Group also sells its own branded products to Foshan Viomi, and provides rental services, and other services to Foshan Viomi and its subsidiaries.
     
  (d) The Group’s related party provides transportation services, maintenance services, promotion services as well as installation services for the Group.
     
  (e) On July 1, 2024, the Company entered into a loan agreement with Foshan Viomi to lend USD20.0 million for its working capital needs with maturity date on November 20, 2028. The loan has a fixed interest rate of 4.0% per annum. The loan was fully collected from Foshan Viomi as of December 31, 2024.
     
  (f) On February 14, 2019, Guangdong Lizi entered into a loan agreement with Foshan Viomi to borrow RMB10.0 million. The loan has a fixed interest rate of 4.8% per annum. The loan was fully repaid by Guangdong Lizi on November 28, 2024.