0001493152-26-018435 | 20-F | XBRL Viewer

Short term borrowings

$ 5,720

¥ 40,000

¥ 50,000

Bank of China [Member]

Industrial and Commercial Bank of China [Member]

Short term borrowings

30,000

^[1]

¥ 30,000

30,000

^[1]

Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]

Short term borrowings

¥ 10,000

^[2]

¥ 10,000

¥ 20,000

^[2]

[1]	On January 8, 2025, the Group entered into a loan agreement with Bank of China to borrow RMB30.0 million as working capital for one year. The loan was withdrawn on January 15, 2025 and as a maturity date in January 15, 2026. The loan has a fixed interest rate of 2.85% per annum. The loan was fully repaid upon maturity.
[2]	On March 25, 2025, the Group entered into a loan agreement with Industrial and Commercial Bank to borrow RMB10.0 million as working capital for one year, with a maturity date of March 26, 2026. These loans have a fixed interest rate of 2.75% per annum. The loan was fully repaid upon maturity.

SUMMARY OF ASSETS MEASURED AT FAIR VALUE ON RECURRING BASIS (Details) - Fair Value, Recurring [Member] - CNY (¥)
¥ in Thousands

Dec. 31, 2025

Dec. 31, 2024

Fair Value, Inputs, Level 1 [Member]

¥ 82,598

¥ 72,500

Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]

Fair Value, Inputs, Level 2 [Member]

^[1]

48,187

Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]

Fair Value, Inputs, Level 3 [Member]

^[2]

82,598

24,313

Fair Value, off-Balance-Sheet Risks, Disclosure Information [Line Items]

[1]	These short-term investments represent mainly company securities, and the Company values these short-term investments based on unadjusted quoted prices from active markets of these securities at the end of each period, and accordingly, the Company classifies the valuation techniques that use these inputs as Level 1.
[2]	These short-term investments represent mainly company securities and structured deposits, and the Company values these short-term investments based on quoted prices of similar products provided by banks at the end of each period, and accordingly, the Company classifies the valuation techniques that use these inputs as Level 2.

Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method.

SCHEDULE OF CURRENT AND DEFERRED COMPONENTS

INCOME TAX EXPENSES (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

The current and deferred components of income taxes appearing in the consolidated statements of comprehensive (loss) income are as follows:

	2023		2024			2025
	Year ended December 31,
	2023		2024			2025
	RMB		RMB			RMB
Current tax expenses		11,544		21,686			11,295
Deferred tax expenses (benefit)		2,044		(4,773	)		1,363
Income tax expenses		13,588		16,913			12,658

SCHEDULE OF RECONCILIATION INCOME TAX EXPENSES

Reconciliation between the income tax expenses computed by applying the PRC enterprise tax rate to income before income taxes and actual provision were as follows:

	2023					2024					2025
	Year ended December 31,
	2023					2024					2025
	RMB			%		RMB			%		RMB			%
Income from operations in the PRC		126,692					177,311					157,704
Income (loss) from overseas entities		3,371					(15,713	)				(3,117	)
Income before income tax		130,063					161,598					154,587
Tax expense from overseas entities at PRC enterprise income tax rate		32,515		25.0	%		40,400		25.0	%		38,647		25.0	%
Effect of income tax in jurisdictions other than the PRC		(2,625	)	(2.0	)%		(311	)	(0.2	)%		(3,759	)	(2.4	)%

Nontaxable or nondeductible items
Income tax on tax holiday⁽¹⁾		(14,952	)	(11.5	)%		(20,298	)	(12.6	)%		(17,545	)	(11.3	)%
Tax effect of permanent differences⁽²⁾		(12,860	)	(9.9	)%		(13,572	)	(8.4	)%		(16,382	)	(10.6	)%

Change in valuation allowance⁽³⁾		11,494		8.8	%		8,227		5.1	%		9,585		6.2	%
Effect of share-based compensation		16		0.0	%		2,467		1.5	%		2,112		1.4	%
Income tax expenses		13,588		10.4	%		16,913		10.4	%		12,658		8.3	%

(1)

The income tax on tax holidays represents the effect of preferential income tax rate enjoyed by Guangdong Lizi and Yunmi Hulian. Guangdong Lizi applied for HNTE qualification renewal in 2023. It entitled to enjoy the preferential tax rate of 15% as an HNTE for three years starting from 2023 and should apply for HNTE qualification renewal in 2026. Yunmi Hulian applied for the HNTE qualification and obtained approval in December 2021. It is entitled to enjoy the preferential tax rate of 15% as an HNTE for three years starting from 2022, and its HNTE status ceased at the end of 2023.

(2)

The permanent book-tax differences mainly consisted of R&D super deductions.

(3)

Valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Group considered factors including future taxable income exclusive of reversing temporary differences and tax loss carry forwards. Valuation allowance for the years ended December 31, 2023, 2024, and 2025 were provided for net operating loss carry forward of certain group entities which reported loss because it was more likely than not that such deferred tax assets would not be realized based on the Group’s estimate of their future taxable income. If events occur in the future that allow the Group to realize more of its deferred income tax than the presently recorded amounts, an adjustment to the valuation allowances will result in a decrease in tax expense when those events occur.

SCHEDULE OF PER SHARES EFFECT OF TAX

The per share effect of the tax holidays were as follows:

SCHEDULE OF PER SHARES EFFECT OF TAX

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Net income per share effect – basic		0.07		0.10		0.09
Net income per share effect – diluted		0.07		0.10		0.08

SCHEDULE OF DEFERRED TAX ASSETS

The significant components of the Group’s deferred tax assets were as follows:

SCHEDULE OF DEFERRED TAX ASSETS

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Accrued expenses and others		9,363			8,343
Net operating loss carry forwards		39,905			49,541
Inventories write downs		388			120
Deferred income		74			28
Total deferred tax assets		49,730			58,032
Less: valuation allowance		(40,032	)		(49,617	)
Deferred tax assets, net		9,698			8,415

SCHEDULE OF MOVEMENT OF VALUATION ALLOWANCE

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Balance at beginning of the year		20,358		31,852		40,032
Provided		11,494		8,180		9,585
Balance at end of the year		31,852		40,032		49,617

RESTRICTED CASH

12 Months Ended

Dec. 31, 2025

Restricted Cash

RESTRICTED CASH

6.	RESTRICTED CASH

As of December 31, 2024 and 2025, the Group held restricted cash of RMB141,292 and RMB164,431, respectively, in designated bank accounts, which were composed of the deposit required for issuing bank acceptance bills of RMB62,108 and RMB77,332, respectively, capital deposit of RMB770 and RMB770, and the foreign exchange deposits of RMB78,414 and RMB79,717, respectively.

ORDINARY SHARES

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

ORDINARY SHARES

17.	ORDINARY SHARES

The Company adopts a dual-class ordinary share structure. Pursuant to the resolution of the shareholders of the Company on August 23, 2018, the Company’s authorized share capital became US$50,000 divided into 5,000,000,000 shares comprising of (i) 4,800,000,000 class A ordinary shares of a par value of US$0.00001 each (“Class A Ordinary Shares”), (ii) 150,000,000 class B ordinary shares of a par value of US$0.00001 each (“Class B Ordinary Shares”) and (iii) 50,000,000 shares of a par value of US$0.00001 each of such class or classes (however designated) as the board of directors may determine in accordance with post-offering amended and restated memorandum and articles of association. In respect of all matters subject to a shareholder vote, each Class A ordinary share is entitled to one vote, and each Class B Ordinary Share is entitled to ten (10) votes, voting together as one class. Each Class B Ordinary Share is convertible into one Class A Ordinary Share at any time by the holder thereof. Class A Ordinary Shares are not convertible into Class B Ordinary Shares under any circumstances. Upon any transfer of Class B Ordinary Shares by a holder to any person or entity other than holders of Class B Ordinary Shares or their affiliates, such Class B Ordinary Shares shall be automatically and immediately converted into the equivalent number of Class A Ordinary Shares.

Immediately prior to the completion of the IPO, 16,145,454 issued Class A Ordinary Shares held by certain key management founders, 33,818,182 issued Pre-IPO Class B Ordinary Shares held by Red Better, and 67,636,364 issued Pre-IPO Class B Ordinary Shares held by Mr. Chen’s wholly-owned entity Viomi Limited was automatically converted by way of re-designation and re-classification into Class B Ordinary Shares on a one-for-one basis, and the rest of the outstanding 4,000,000 Class A Ordinary Shares, the rest of the outstanding 33,818,182 Pre-IPO Class B Ordinary Shares, and all outstanding 18,181,818 Series A Preferred Shares was automatically converted by way of re-designation and re-classification into Class A Ordinary Shares on a one-for-one basis. Upon the completion of the Company’s IPO in 2018, 34,200,000 Class A Ordinary Shares were issued, and the Company had 90,200,000 Post-IPO Class A Ordinary Shares and 117,600,000 Post-IPO Class B Ordinary Shares outstanding, respectively.

As of December 31, 2022, the Company had 104,539,463 Class A Ordinary Shares and 102,854,550 Class B Ordinary Shares outstanding, respectively, following the option exercises into Class A Ordinary Shares, conversions of Class B Ordinary Shares to Class A Ordinary Shares as well as the repurchase of Class A Ordinary Shares following the IPO during the previous years.

During the year ended December 31, 2023, 176,883 Class A Ordinary Shares were issued for the exercised share options. In addition, 90,000 Class B Ordinary Shares were converted into Class A Ordinary Shares. Moreover, 2,903,802 Class A Ordinary Shares were repurchased by the Group. As of December 31, 2023, the Company had 101,902,544 Class A Ordinary Shares and 102,764,550 Class B Ordinary Shares outstanding.

During the year ended December 31, 2024, 355,542 Class A Ordinary Shares were issued for the exercised share options. In addition, 1,198,542 Class A Ordinary Shares were repurchased by the Group. As of December 31, 2024, the Company had 101,059,544 Class A Ordinary Shares and 102,764,550 Class B Ordinary Shares outstanding.

During the year ended December 31, 2025, 1,218,363 Class A Ordinary Shares were issued for the exercised share options. In addition, 3,077,262 Class A Ordinary Shares were repurchased by the Group. 4 Class A Ordinary Shares and 2 Class B Ordinary Shares were cancelled by the Group. As of December 31, 2025, the Company had 99,200,641 Class A Ordinary Shares and 102,764,548 Class B Ordinary Shares outstanding.

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)

The entire disclosure for equity.

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Property, Plant and Equipment [Abstract]

LEASES

12 Months Ended

Dec. 31, 2025

Leases

LEASES

22.

LEASES

The Group’s operating leases are principally for office space and facilities. At December 31, 2024 and 2025, The Group’s operating leases had a weighted average discount rate of 4.75% and 4.75% and a weighted-average remaining term of 2.3 years and 1.4 years, respectively. The components of lease expense were as follow：

SUMMARY OF COMPONENTS OF LEASE EXPENSE

	2024		2025
	Year ended December 31,
	2024		2025
	RMB		RMB
Lease cost
Operating lease expense		2,193		2,147
Short-term lease expense ⁽ⁱ⁾		1,147		340
Total lease cost		3,340		2,487

(i)	Includes leases with a term of one year or less.

Supplemental cash flow information for leases was as follows:

	2024		2025
	Year ended December 31,
	2024		2025
	RMB		RMB
Operating cash flows relating to operating leases		1,991		1,949
Lease liabilities arising from obtaining right-of-use assets		2,568		1,006

As of December 31, 2025, the aggregate future minimum rental payments under non-cancelable agreement were as follows:

	RMB
2026		1,356
2027		304
2028		131
Total future minimum rental payment		1,791
Less amount representing imputed interest		(60	)
Present value of future minimum rental payments		1,731
Less current portion, recorded in other current liabilities		1,310
Long-term lease liabilities, recorded in other long-term liabilities		421

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)

PROPERTY, PLANT, AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2025

SCHEDULE OF PROPERTY, PLANT, AND EQUIPMENT, NET

Property, plant, and equipment, net consisted of the following:

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Buildings		258,910			258,910
Computers and equipment		140,465			171,989
Vehicle		2,692			3,038
Construction in progress		7,343			-
Total		409,410			433,937
Less: accumulated depreciation		(94,101	)		(128,505	)
Property, plant, and equipment, net		315,309			305,432

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Basis of presentation

(a)

Basis of presentation

The consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) to reflect the financial position, results of operations and cash flows of the Group. Significant accounting policies followed by the Group in the preparation of the consolidated financial statements are summarized below.

Consolidation

(b)

Consolidation

The Group’s consolidated financial statements include the financial statements of the Company, its subsidiaries and VIEs for which the Company or its subsidiaries are the primary beneficiaries. All transactions and balances among the Company, its subsidiaries and VIEs have been eliminated upon consolidation.

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting powers; or has the power to appoint or remove the majority of the members of the board of directors; or to cast a majority of votes at the meeting of directors; or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.

A VIE is an entity in which the Company, or its subsidiaries, through contractual agreements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity, and therefore the Company or its subsidiaries are the primary beneficiary of the entity. In determining whether the Company or its subsidiaries are the primary beneficiary, the Company considered whether it has the power to direct activities that are significant to the VIE’s economic performance, and also the Company’s obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. Lequan, Zhumeng Hulian and ultimately the Company hold all the variable interests of the VIE and have been determined to be the primary beneficiaries of the VIE. As a result of the transaction to Mr. Chen on August 31, 2024, the Group no longer consolidates the results of Foshan Yunmi and its subsidiaries.

Use of estimates

(c)

Use of estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Significant accounting estimates reflected in the Group’s consolidated financial statements include sales returns, inventory valuation, product warranties, variable consideration, share-based compensation, allowance for credit losses, and the valuation allowance for deferred tax assets. Actual results could differ from those estimates, and such differences may be material to the 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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

Foreign currency translation

(d)

Foreign currency translation

The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its subsidiaries incorporated in Hong Kong and British Virgin Islands are United States dollar (“US$”), while the functional currency of the Group’s entities in the PRC is RMB, which is their respective local currency. In the consolidated financial statements, the financial information of the Company and its subsidiaries in Hong Kong and British Virgin Islands, which use US$ as their functional currency, have been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, and incomes are translated using the average exchange rate for the period. Translation adjustments arising from these are reported as foreign currency translation adjustments and are shown as a component of other comprehensive (loss) income in the statements of comprehensive (loss) income.

Foreign currency transactions denominated in currencies other than functional currency are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are remeasured at the applicable rates of exchange in effect at that date. Foreign exchange gains and losses resulting from the settlement of such transactions and from remeasurement at year-end are recognized in Foreign currency translation adjustment in the consolidated statements of comprehensive (loss) income.

Convenience translation

(e)

Convenience translation

Translations of balances in the consolidated balance sheets, consolidated statements of comprehensive (loss) income and consolidated statements of cash flows from RMB into US$ as of and for the year ended December 31, 2025 are solely for the convenience of the reader and were calculated at the noon buying rate of US$1.00 = RMB6.9931 on December 31, 2025 as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2025, or at any other rate.

Restricted cash

(f)

Cash and cash equivalents

Cash includes currency on hand and deposits held by financial institutions that can be added to or withdrawn without limitation. Cash equivalents represent short-term and highly liquid investments placed with banks, and all highly liquid investments with original maturities of three months or less, which have both of the following characteristics:

i) Readily convertible to known amounts of cash throughout the maturity period;

ii) So near their maturity that they present insignificant risk of changes in value because of changes in interest rates.

(g)

Restricted cash

Cash that is restricted as to withdrawal or for use or pledged as security is reported separately on the face of the consolidated balance sheets. Restricted cash is included in the total cash and cash equivalents and restricted cash in the consolidated statements of cash flows when reconciling the beginning-of-period and end-of-period total amounts shown on the statements of cash flows. The Group’s restricted cash mainly represents security deposits held in designated bank accounts for issuance of bank acceptance notes and foreign exchange deposits in the bank of mainland China.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

Short-term deposits

(h)

Short-term deposits

Short-term deposits represent time deposits placed with banks with original maturities of more than three months but less than one year. Interest earned is recorded as interest income in the consolidated statements of comprehensive (loss) income.

Property, plant, and equipment, net

(i)

Short-term investments

In accordance with ASC 825, for investments in financial instruments with a variable interest rate indexed to the performance of underlying assets, the Group elected the fair value method at the date of initial recognition and carried these investments subsequently at fair value. Changes in fair values are reflected in the consolidated statements of comprehensive (loss) income.

Accounts receivable

(j)

Accounts receivable

Accounts receivable are stated at the historical carrying amount net of allowance for credit losses. On January 1, 2020, the Group adopted ASC326, “Financial Instruments—Credit Losses” using modified retrospective transition approach. The Group provides an allowance against accounts receivable to the amount management reasonably believe will be collected. The Group writes off trade receivable when they are deemed uncollectible.

The Group maintains an allowance for credit losses which reflects its best estimate of amounts that potentially will not be collected. Accounts receivable have been grouped based on shared credit risk characteristics and days past due to estimate, taking into consideration various factors including but not limited to historical collection experience and credit-worthiness of the debtors.

Inventories, net

(k)

Inventories, net

Inventories are stated at the lower of cost or net realizable value (“NRV”). Inventory costs are calculated on the actual cost basis including expenses that are directly or indirectly incurred in the purchase, and production of manufactured product. Expenses include the cost of materials, consignment manufacturing cost and other direct costs. Cost is determined using the weighted average method. The Group assesses the valuation of inventory and periodically writes down the value for inventories when their costs are lower than the NRV. The NRV is determined based on the estimated net selling prices less the estimated costs to completion and other costs necessary to make the sale. Determination of estimated net selling prices of finished goods, estimated costs to completion and other costs necessary to make the sale requires significant management judgements, taking into consideration historical actual information and expected future market trends.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

Long-term deposits

(l)

Long-term deposits

Long-term deposits represent time deposits placed with banks with original maturities of more than one year. Interest earned is recorded as interest income in the consolidated statements of comprehensive (loss) income.

(m)

Property, plant, and equipment, net

Property, plant, and equipment are carried at cost less accumulated depreciation and impairment losses, if any. Depreciation is calculated on a straight-line basis over the following estimated useful lives and residual value. Residual rate is determined based on the economic value of the property, plant and equipment at the end of the estimated useful lives as a percentage of the original cost.

	Estimated useful lives	Residual rate
Buildings	20 years		5	%
Computers and equipment	1-10 years		0%-5	%
Vehicle	4 - 5 years		5	%

Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of property, plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statements of comprehensive (loss) income.

Construction in progress represents property, plant, and equipment under construction and pending installation and is stated at cost less accumulated impairment losses, if any. Completed assets are transferred to their respective asset classes and depreciation begins when an asset is ready for its intended use. Interest expense on outstanding debt is capitalized during the period of significant capital asset construction. Capitalized interest expense on construction-in-progress is included within property, plant, and equipment and is amortized over the life of the related assets.

Impairment of long-lived assets

(n)

Impairment of long-lived assets

The Group reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Group measures impairment by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets, the Group would recognize an impairment loss, which is the excess of carrying amount over the recoverable amount of the assets, using the expected future discounted cash flows. No impairments of long-lived assets were recognized as of December 31, 2024 and 2025.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

Long-term investment

(o)

Long-term investment

For an investee over which the Group has the ability to exercise significant influence, but does not own a majority equity interest or otherwise control, the Group accounted for those using the equity method. Significant influence is generally considered to exist when the Group has an ownership interest in the voting stock of the investee between 20% and 50%. Other factors, such as representation on the investee’s board of directors, voting rights and the impact of commercial arrangements, are also considered in determining whether the equity method of accounting is appropriate. Under the equity method of accounting, the Group’s share of the investee’s results of operations is included in interest and investment income, net in the consolidated statements of comprehensive (loss) income.

Land use right, net

(p)

Land use right, net

Land use right is recorded at cost less accumulated amortization and impairment losses, if any. Amortization is calculated on a straight-line basis over the estimated useful lives which are 50 years that represent the terms of land use right certificate.

Intangible assets, net

(q)

Intangible assets, net

Intangible assets mainly consist of software and license. Identifiable intangible assets are carried at acquisition cost less accumulated amortization and impairment losses, if any. Finite-lived intangible assets are tested for impairment if impairment indicators arise. Amortization of finite-lived intangible assets is computed using the straight-line method over their estimated useful lives, which are as follows:

		Estimated useful lives
Software		1 - 10 years
License		6 years

Leases

(r)

Leases

Lessee accounting

The Group categorizes leases with contractual terms longer than twelve months as either operating or finance. Finance leases are generally those leases that allow lessees to substantially utilize or pay for the entire asset over its estimated life. Assets acquired under finance leases are recorded in property, plant and equipment, net. All other leases are categorized as operating leases. All the leases recognized by the Group were classified as operating leases for the years presented.

Lease liabilities are recognized at the present value of the fixed lease payments using a discount rate based on similarly secured borrowings available to us. Lease assets are recognized based on the initial present value of the fixed lease payments plus any direct costs from executing the leases or lease prepayments reclassified from “Prepayments and other current assets” upon lease commencement. Costs associated with operating lease assets are recognized on a straight-line basis within operating expenses over the term of the lease.

The Group has elected not to present short-term leases on the consolidated balance sheets as these leases have a lease term of 12 months or less at commencement date of the lease and do not include options to purchase or renew that the Group is reasonably certain to exercise. The Group recognizes lease expenses for such short-term lease generally on a straight-line basis over the lease term.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(r)

Leases (Continued)

Lessor accounting

The Group rents out its premises to its related parties and third parties, which is classified as an operating lease in accordance with Topic 842. The revenue from an operating lease is recognized in revenue in the consolidated statements of comprehensive (loss) income on a straight-line basis over the term of the lease.

Revenue recognition

(s)	Revenue recognition

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”) and subsequently, the FASB issued several amendments which amend certain aspects of the guidance in ASC 2014-09 (ASU No. 2014-09 and the related amendments are collectively referred to as “ASC 606”). According to ASC 606, revenue is recognized when control of the promised good or service is transferred to the customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for those goods or services. The Group will enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for returns and any taxes collected from customers, which are subsequently remitted to governmental authorities. The Group adopted ASC 606 for all periods presented.

The Group’s revenue is primarily derived from (i) Home water systems, which are composed of smart water purification systems, kettles and heaters, (ii) consumable products complementary to the Group’s Home water systems, such as water purifier filters, (iii) Kitchen appliances and others. Refer to Note 15 to the consolidated financial statements for disaggregation of the Group’s revenue by type of product and service for the years ended December 31, 2023, 2024, and 2025.

The Group conducts its business through various contractual arrangements.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(s)

Revenue recognition (Continued)

Sales to Xiaomi

The Group generated a substantial portion of its revenues from sales of products to Xiaomi.

Under the cooperation agreement entered into between the Group and Xiaomi, the Group is responsible for design, research, development, production, and delivery of designated products using the brand name of “Xiaomi” (“Xiaomi-branded products”). Xiaomi is responsible for commercial distributions and sales.

Revenue is recognized upon acceptance by this customer, which is considered at the time the control of the products is transferred to Xiaomi. Revenue does not meet the criteria to be recognized over time since 1) even if the products use “Xiaomi” brand, it does not require significant rework to make them suitable to be sold to other customers, 2) under the cooperation agreement, the Group does not have the right of payment for the work performed to date.

For a majority of types of products sold to this customer, the selling price is a fixed amount as agreed by both parties. For other types of products sold to this customer, the sales arrangement includes two installment payments. The first installment is priced to recover the costs incurred by the Group in developing, producing, and shipping the products to this customer and is payable to the Group upon acceptance by the customer after delivery. The Group is also entitled to receive a potential second installment payment calculated as certain portion of the future gross profits from commercial sales made by this customer. Accordingly, the Group determines the sales price as the fixed first installment payment plus the variable second installment payment to the extent that it is probable that revenue reversal will not occur when settling with the customer subsequently. The Group estimates the variable consideration using the expected value method. In assessing the variable second installment payment, the Group takes into consideration of the historical experience with the customer, selling price of the same or similar products as at the report date as well as the recent market trend. For the years ended December 31, 2023, 2024, and 2025, net revenues earned from second installment payment arrangement represented 3.4%, 10.5% and 10.2% of total revenue from Xiaomi, respectively.

Sales to third-party customers, including: sales to leading e-commerce platforms and offline stores; and sales to customers directly through the online platforms operated by Xiaomi, third parties and the Group.

The Group recognizes revenue for the sales to third-party customers in accordance with the applicable revenue recognition method for each of the distinct performance obligation identified. Sales of products is recognized upon acceptance by customers after delivery. Installation services revenues are recognized when the services are rendered.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(s)

Revenue recognition (Continued)

- Sales to leading e-commerce platforms and offline experience stores

Pursuant to the contracts between the Group and the leading e-commerce platforms/offline experience stores (“e-commerce platforms and stores”), the e-commerce platforms and stores have legal title and physical possession of the products upon acceptance and they would bear the risk of loss due to physical damage before the products are transferred and accepted by end customers. The e-commerce platforms and stores are responsible for delivering the products to end customers and can direct the use of the products and obtain the remaining benefits from the products by reselling the products. The e-commerce platforms and stores have flexibility in determining the retail sales price within relatively broad price range set by the Group. Based on these indicators, the Group determined the e-commerce platforms and stores (as opposed to the end customers) as its customers according to ASC 606-10-55-39. The Group recognizes revenue equal to the sales price to the e-commerce platforms and stores when control of the inventory is transferred.

- Sales to customers directly through the online platforms operated by Xiaomi, third parties and the Group

Under the cooperation agreements entered between the Group and online platforms, the platforms’ responsibilities are limited to offering an online marketplace, while the Group is primarily obligated in a sales transaction and takes inventory risk and has latitude in determining prices. The platforms charged the Group commission fees at pre-determined amounts or a fixed rate based on the sales amounts. Commission fees are recognized as selling expenses. The Group determined the end customers (as opposed to the platforms) as its customers and recognizes revenue equal to the sales price to the end customers when control of the inventory is transferred.

- Rendering of services

The Group provides installation service to end customers for designated Viomi-branded products without separate charge. The end customers have the right, not the obligation, to ask the Group to provide installation service. The installation service is considered being distinct and accounted for as a separate performance obligation as the products and installation services are not inputs into a combined item the end customer has contracted to receive. In addition, the Group does not provide any significant integration, modification, or customization services. It can fulfill its obligation to transfer each of the products or services separately. End customers do not always exercise their rights to ask for installation services as the installation may not be complicated and could be done by end customers themselves. Therefore, the Group expects to be entitled to a breakage amount in the contract liabilities related to installation services. The Group estimates the breakage portion based on historical customers’ requests and recognizes estimated breakage as revenue in proportion to the pattern of rights exercised by end customers on a semi-annually basis. Changes in estimated breakage should be accounted for by adjusting contract liabilities to reflect the remaining rights expected to be exercised.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(s)

Revenue recognition (Continued)

Judgment is required to determine standalone selling price for each distinct performance obligation. The Group allocates the arrangement consideration to the separate accounting of each distinct performance obligation based on their relative standalone selling price. The standalone selling price of the products is determined based on adjusted market assessment approach by estimating the price the customer is willing to pay for the product without installation service. For the standalone selling price of the installation services, the Group semi-annually determines it by using a cost-plus margin approach by referring to actual installation costs charged by the third-party vendors, plus an estimated profit margin of 5% based on consideration of both company specific and relevant market factors.

2)	Sales returns and sales incentives

- Sales to leading e-commerce platforms

The Group’s sales to leading e-commerce platforms started in 2018. As stipulated in the contracts, slow-moving goods are those unsold products after they are controlled by the e-commerce platforms for more than 30 days or 45 days or 60 days, depending on the different categories of products. The Group shall coordinate with the e-commerce platforms to sell the slowing-moving products to end customers through promotions within 30 or 60 days, otherwise, the e-commerce platforms can (i) return such slow-moving products, or (ii) sell on discount as determined by the e-commerce platforms. The Group shall bear all losses caused by such discounted sales. Based on the Group’s history of cooperation with the e-commerce platforms and the pattern that the e-commerce platforms dealt with slow-moving goods, the Group estimates that slow-moving goods will be returned to the Group instead of being sold through discounted sales by the e-commerce platforms. Under ASC 606, a right of return is not a separate performance obligation, but it affects the estimated transaction price for transferred goods. Revenue is only recognized for those products that are not expected to be returned. The estimate of expected returns should be determined in the same way as other variable consideration. Based on historical information and other relevant evidence, including the expected sales and inventory level of the e-commerce platforms, the Group assesses if it is probable there will be no significant reversal of cumulative revenue, and recognizes those sales as revenue. For the years ended December 31, 2023, 2024, and 2025, the expected sales return was RMB24, RMB198 and RMB114, respectively. Accordingly, the Group recognizes an expected return asset of RMB88 and RMB63 and a refund liability of RMB224 and RMB129 as of December 31, 2024 and 2025, respectively. The Group would update its estimate of expected returns at each period end. The expected return asset is presented and assessed for impairment separately from the refund liability. The Group would assess the expected return asset for impairment, and adjust the value of the asset if it becomes impaired. Further, the Group might provide various consideration to the e-commerce platforms, such as gross margin guarantee, advertising and promotion fees, in the form of cash, or directly reducing amounts owed to the Group by the e-commerce platforms. The Group evaluates each type of incentives or fees to be paid in accordance with ASC 606. Considering that the Group either does not receive any service from the e-commerce platforms or cannot elect to engage another vendor to provide similar advertising services on a standalone basis, the Group reduces the transaction price for the sale of products by the amount of various consideration payable to the e-commerce platforms.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(s)

Revenue recognition (Continued)

- 7 days unconditional sales return

Under the consumer protection law, end customers have an unconditional right to return the products purchased through online platforms within 7 days. The Group bases its estimates of sales return on historical results. For the years ended December 31, 2023, 2024, and 2025, the amount of sales return was insignificant. The Group may provide sales incentives in the forms of discounts to end customers through online platforms for a group of products. Revenue, recognized on a net basis after such sales incentives, are allocated based on the relative standalone selling prices for respective products.

Warranty

The Group offers product warranty pursuant to standard product quality required by consumer protection law. The warranty period is calculated starting from the date when products are sold to the end customers. The Group has the obligation, at the customer’s sole discretion, to either repair or replace the defective product. The customers cannot separately purchase the warranty and the warranty doesn’t provide the customer with additional service other than assurance that the product will function as expected. Therefore, these warranties are accounted for in accordance with ASC 460 Guarantees. At the time revenue is recognized, an estimate of warranty expenses is recorded. The reserves established are regularly monitored based upon historical experience and any actual claims charged against the reserve. Warranty reserves are recorded as cost of revenues.

4)	Value added taxes

Value added taxes (“VAT”) on sales is calculated at 13% after April 1, 2019. The Group reports revenue net of VAT. Subsidiaries and VIEs that are VAT general taxpayers are allowed to offset qualified VAT paid against their output VAT liabilities.

5)	Contract balances

Key customers, including Xiaomi and third-party customers, are entitled to a credit term. The expected length of time between the products being transferred to customers and when they pay for those products is short. There is no difference between the amount of promised consideration and the cash selling price of the promised products. Therefore, the Group concludes that the contracts with these key customers generally do not include a significant financing component. The allowance for credit losses reflects the Group’s best estimate of probable losses inherent in the accounts receivable balance. The Group determines the allowance based on known troubled accounts, historical experience, and other currently available evidence. The amount of the allowance for credit losses is recognized as expenses.

As of December 31, 2024 and 2025 accounts and notes receivable were RMB626,290 and RMB371,458, respectively. During the years ended December 31, 2024 and 2025, the Group recognized impairments, net of recoveries, for accounts receivable from customers amounted to RMB1,306 and RMB2,927, respectively.

The Group does not have contract assets as of December 31, 2024 and 2025. Contract liabilities consist of deferred revenue related to the Group’s provision of installation services, where there is still an obligation to be fulfilled by the Group. The contract liabilities will be recognized as revenue when all of the revenue recognition criteria are met.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(s)

Revenue recognition (Continued)

As of December 31, 2024 and 2025, deferred revenue were RMB1,864 and RMB416, respectively. During the years ended December 31, 2024 and 2025, the Group recognized revenue of installation services amounted to RMB1,763 and RMB1,864, respectively, that was included in the corresponding contract liability balance at the beginning of the years. The Group expects to recognize RMB416 of the unearned amount for the Group’s remaining performance obligations related to installation services in 2026. During the years ended December 31, 2024 and 2025, the Group does not have any arrangement where the performance obligations have already been satisfied in the past period, but the corresponding revenue is only recognized in a later period.

Research and development expenses

(t)

Cost of revenues

Cost of revenues consists primarily of material costs, warranty, consignment manufacturing cost, salaries and benefits for staff engaged in production activities and related expenses that are directly attributable to the production of products.

(u)

Research and development expenses

Research and development expenses primarily consist of salaries and benefits as well as share-based compensation for research and development personnel, materials, general expenses and depreciation expenses associated with research and development activities.

General and administrative expenses

(v)

Selling and marketing expenses

Selling and marketing expenses consist primarily of (i) advertising and market promotion expenses, (ii) shipping expenses and (iii) salaries and welfare for sales and marketing personnel. The advertising and market promotion expenses amounted to RMB62,107, RMB53,234 and RMB95,462 for the years ended December 31, 2023, 2024, and 2025, respectively. The shipping expenses amounted to RMB66,870, RMB50,416 and RMB43,670 for the years ended December 31, 2023, 2024, and 2025, respectively.

(w)

General and administrative expenses

General and administrative expenses consist primarily of (i) salaries and welfare for general and administrative personnel, (ii) professional services expenses, (iii) share-based compensation for management and administrative personnel, and (iv) rental expenses.

Government subsidies

(x)

Government subsidies

Government subsidies represent tax refund and government grants received from local government authorities to encourage the Group’s technology and innovation. The Group records such government subsidies as other income in the consolidated statements of comprehensive (loss) income when it has fulfilled all of its obligation related to the subsidy. The Group recorded RMB8,641, RMB36,213 and RMB28,272 of subsidy income for the years ended December 31, 2023, 2024, and 2025, respectively.

Employee benefits

(y)

Employee benefits

Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries and VIEs of the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Group has no legal obligation for the benefits beyond the contributions made. The total amounts of such employee benefit expenses, which were expensed as incurred, were approximately RMB18,857, RMB14,188 and RMB25,565 for the years ended December 31, 2023, 2024, and 2025, respectively.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

Share-based compensation

(z)

Share-based compensation

Share-based compensation expenses arise from share-based awards, mainly including share options for the purchase of ordinary shares for the periods presented. The Group accounts for share-based awards granted to the employees in accordance with ASC 718 Stock Compensation.

For share options for the purchase of ordinary shares granted to employees determined to be equity classified awards, the related share-based compensation expenses are recognized in the consolidated financial statements based on their grant date fair values which are calculated using the binomial option pricing model. The determination of the fair value is affected by the share price as well as assumptions regarding a number of complex and subjective variables, including the expected share price volatility, actual and projected employee share option exercise behavior, risk-free interest rates and expected dividends. Share-based compensation expenses are recorded net of estimated forfeitures using graded-vesting method during the service period requirement, such that expenses are recorded only for those share-based awards that are expected to ultimately vest.

Current expected credit losses

(aa)	Current expected credit losses

The Group’s accounts and notes receivable and other receivables from related parties and third parties are within the scope of ASC Topic 326. The Group has identified the relevant risk characteristics of its customers and the related accounts and notes receivable and other receivables based on their credit rating. Receivables with similar risk characteristics have been grouped into pools. For each pool, the Group considers the historical credit loss experience, current economic conditions, supportable forecasts of future economic conditions, and any recoveries in assessing the lifetime expected credit losses. Other key factors that influence the expected credit loss analysis include payment terms offered in the normal course of business to customers and industry-specific factors that could impact the Group’s receivables. Additionally, macroeconomic factors are also considered. This is assessed at each period based on the Group’s specific facts and circumstances. For the years ended December 31, 2023, 2024, and 2025, the Group recorded expected credit losses of RMB2,563, RMB(4,360), and RMB(1,288), respectively in general and administrative expenses. As of December 31, 2024 and 2025, the expected credit loss provision for the accounts and notes receivable and other receivables is RMB10,965 and RMB6,750, respectively. The decrease is primarily attributable to the reversal of allowance for expected credit loss.

The following table summarizes the activity in the allowance for credit losses related to accounts and notes receivable and other receivables from related parties for the years ended December 31, 2024 and 2025:

	Year ended December 31,
	2024			2025
	RMB			RMB
Balance at beginning of the year		16,631			10,965
Current year provision		264			1,522
Reversals		(4,624	)		(2,810	)
Write-off		(1,306	)		(2,927	)
Balance at end of the year		10,965			6,750

Income taxes

(bb)

Income taxes

Current income taxes are provided on the basis of net income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are accounted for using an asset and liability method. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purpose. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statements of comprehensive (loss) income in the period of change. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion of, or all of the deferred tax assets will not be realized.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(bb)

Income taxes (Continued)

Uncertain tax positions

The guidance on accounting for uncertainties in income taxes prescribes a more likely than not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Guidance was also provided on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. Significant judgment is required in evaluating the Group’s uncertain tax positions and determining its provision for income taxes. The Group recognizes interests and penalties, if any, under accrued expenses and other current liabilities on its consolidated balance sheets and under other expenses in its consolidated statements of comprehensive (loss) income. The Group did not recognize any interest and penalties associated with uncertain tax positions for the years ended December 31, 2023, 2024, and 2025. As of December 31, 2024 and 2025, the Group did not have any significant unrecognized uncertain tax positions.

Comprehensive (loss) income

(cc)

Comprehensive (loss) income

Comprehensive (loss) income consists of two components, net (loss) income and other comprehensive (loss) income, net of tax. Other comprehensive (loss) income refers to revenue, expenses, and gains and losses that are recorded as an element of shareholders’ equity but are excluded from net (loss) income. The Group’s other comprehensive income consists of foreign currency translation adjustments from its entities not using the RMB as their functional currency. Comprehensive (loss) income is reported in the consolidated statements of comprehensive (loss) income.

Statutory reserves

(dd)

Statutory reserves

The Company’s subsidiaries and VIEs established in the PRC are required to make appropriations to certain non-distributable reserve funds.

In accordance with the laws applicable to the Foreign Investment Enterprises established in the PRC, the Company’s subsidiaries registered as wholly-owned foreign enterprise have to make appropriations from their annual after-tax profits (as determined under generally accepted accounting principles in the PRC (“PRC GAAP) to reserve funds including general reserve fund, enterprise expansion fund and staff bonus and welfare fund. The appropriation to the general reserve fund must be at least 10% of the annual after-tax profits calculated in accordance with PRC GAAP. Appropriation is not required if the general reserve fund has reached 50% of the registered capital of the company. Appropriations to the enterprise expansion fund and staff bonus and welfare fund are made at the respective company’s discretion.

In addition, in accordance with the PRC Company Laws, the Group’s VIEs registered as Chinese domestic company must make appropriations from its annual after-tax profits as determined under the PRC GAAP to non-distributable reserve funds including statutory surplus fund and discretionary surplus fund. The appropriation to the statutory surplus fund must be 10% of the annual after-tax profits as determined under PRC GAAP. Appropriation is not required if the statutory surplus fund has reached 50% of the registered capital of the company. Appropriation to the discretionary surplus fund is made at the discretion of the company.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(dd)

Statutory reserves (Continued)

The use of the general reserve fund, enterprise expansion fund, statutory surplus fund and discretionary surplus fund are restricted to offsetting of losses or increasing of the registered capital of the respective company. The staff bonus and welfare fund are a liability in nature and is restricted to fund payments of special bonus to employees and for the collective welfare of all employees. None of these reserves are allowed to be transferred to the Company in terms of cash dividends, loans or advances, nor can they be distributed except under liquidation.

The appropriations to statutory reserve funds amounted to nil and RMB26,493 during the years ended December 2024 and 2025. Statutory reserve funds amounting to RMB12,517 and RMB39,010 were recognized in additional paid-in capital as of December 31, 2024 and 2025, respectively.

Income per share

(ee)

Income per share

Basic income per share is computed by dividing net income attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period using the two-class method. Under the two-class method, net income is allocated between ordinary shares and other participating securities based on their participating rights. Net losses are not allocated to other participating securities if based on their contractual terms they are not obligated to share the losses.

Diluted income per share is calculated by dividing net income attributable to ordinary shareholders, as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of ordinary shares issuable upon the exercise of share options using the treasury stock method. Ordinary equivalent shares are not included in the denominator of the diluted income per share calculation when inclusion of such shares would be anti-dilutive.

Related parties

(ff)

Related parties

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation.

Discontinued operations

(gg)

Discontinued operations

In accordance with ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale. When all of the criteria to be classified as held for sale are met, including management, having the authority to approve the action, commits to a plan to sell the entity, the major current assets, other assets, current liabilities, and non-current liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes benefit, shall be reported as a component of net loss separate from the net loss of continuing operations in accordance with ASC 205-20-45. For a component that meets the criteria of discontinued operations, the historical financial results are reflected in the Group’s consolidated financial statements as discontinued operations.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

Segment reporting

(hh)

Segment reporting

In November 2023, the FASB issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment’s profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The Group adopted this ASU commencing January 1, 2024 which was applied retrospectively to all prior periods presented, and the adoption of the ASU did not have a material impact on the Group’s consolidated financial statements.

ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s Chief Operating Decision Maker (“CODM”) organizes segments within the Group for making operating decisions assessing performance and allocating resources. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company. The Group’s CODM has been identified as the Chairman of the Board of Directors/CEO, who reviews consolidated results including revenue, gross profit and operating profit at a consolidated level only. The Group does not distinguish between products and services for the purpose of making decisions about resources allocation and performance assessment. Therefore, the Group has only one operating segment and one reportable segment. Management determined the Group’s operations constitute a single reportable segment. This reflects the fact that the Group’s CODM continues to evaluate its financial information and resources, and continues to assess the performance of these resources, on a consolidated basis. All required financial segment information is therefore included in the Group’s consolidated financial statements.

Recently issued accounting pronouncements

(ii)

Recently issued accounting pronouncements

Recently issued accounting pronouncements adopted

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. The Group adopted ASU No. 2023-09 from the annual period beginning from January 1, 2025. The adoption of this standard did not have a material impact to its consolidated financial statements.

Recently issued accounting pronouncements not yet adopted

In November 2024, the FASB issued ASU No. 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures. This ASU requires entities to 1. disclose amounts of (a) purchase of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and, (e) depreciation, depletion, and amortization recognized as part of oil-and gas-producing activities, 2. include certain amounts that are already required to be disclosed under current Generally Accepted Accounting Principles in the same disclosures as other disaggregation requirements, 3. disclose a qualitative description of the amounts remaining in relevant expense captions that are not necessarily disaggregated quantitatively, and 4. disclose the total amount of selling expenses, in annual reporting periods, an entity’s definition of selling expense. The ASU is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. Additionally, in January 2025, the FASB issued ASU No. 2025-01 to clarify the effective date of ASU 2024-03. The standard provides guidance to expand disclosures related to the disaggregation of income statement expenses. The standard requires, in the notes to the financial statements, disclosure of specified information about certain costs and expenses which includes purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption. This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, on a retrospective or prospective basis, with early adoption permitted. The Group plans to adopt this guidance effective January 1, 2027 and the Group is currently evaluating the impact of adopting this ASU on its 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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(ii)

Recently issued accounting pronouncements (Continued)

In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This ASU provides a practical expedient for all entities related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under Topic 606. The standard is effective for annual periods beginning after December 15, 2025. Early adoption of ASU 2025-05 is permitted and should be applied prospectively. The Group plans to adopt this guidance effective January 1, 2026 and the Group is currently evaluating the impact of adopting this ASU on its consolidated financial statements.

In November 2025, the FASB issued ASU 2025-08, Financial Instruments—Credit Losses (Topic 326): Purchased Loans (ASU 2025-08). The amendments expand the population of acquired loans subject to the gross-up approach, treating non-credit-deteriorated loans (excluding credit cards) as “seasoned” if purchased at least 90 days after origination or acquired in a business combination. ASU 2025-08 is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within those annual reporting periods, and the Group is currently evaluating the impact of adopting this ASU on its consolidated financial statements.

In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (ASU 2025-10), introducing U.S. GAAP guidance on the accounting for government grants for business entities. The new standard closely aligns with International Accounting Standard (IAS) 20, Accounting for Government Grants and Disclosure of Government Assistance, covering monetary and tangible nonmonetary assets received from governments while excluding exchange transactions. ASU 2025-10 is effective for annual periods beginning after December 15, 2028 (including interim periods within) and one year later for all other entities, with early adoption permitted. The Group is currently evaluating the impact of adopting this ASU on its consolidated financial statements.

Recently issued ASUs by the FASB, except for the ones mentioned above, are not expected to have a significant impact on the Group’s consolidated results of operations or financial position. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Group does not discuss recent pronouncements that are not anticipated to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows, or disclosures.

CASH AND CASH EQUIVALENTS (Tables)

12 Months Ended

Dec. 31, 2025

Cash and Cash Equivalents [Abstract]

SUMMARY OF CASH AND CASH EQUIVALENTS

Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions. Cash and cash equivalents balance as of December 31, 2024 and 2025 primarily consist of the following currencies:

SUMMARY OF CASH AND CASH EQUIVALENTS

	Amount		RMB equivalent		Amount		RMB equivalent
	As of December 31, 2024				As of December 31, 2025
	Amount		RMB equivalent		Amount		RMB equivalent
RMB		834,573		834,573		642,729		642,729
US$		26,269		188,832		22,589		158,775
Others (i)		935		2,783		107,755		5,095
Cash and cash equivalents				1,026,188				806,599

(i)

As of December 31, 2025, the other currencies consist of Hong Kong Dollar, Euro, Korean Won, Canadian Dollar and Singapore Dollar.

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

SCHEDULE OF PROPERTY PLANT AND EQUIPMENT ESTIMATED USEFUL LIVES AND RESIDUAL RATE

	Estimated useful lives	Residual rate
Buildings	20 years		5	%
Computers and equipment	1-10 years		0%-5	%
Vehicle	4 - 5 years		5	%

SCHEDULE OF AMORTIZATION OF FINITE-LIVED INTANGIBLE ASSETS ESTIMATED USEFUL LIVES

		Estimated useful lives
Software		1 - 10 years
License		6 years

SCHEDULE OF ACTIVITY IN ALLOWANCE FOR CREDIT LOSSES RELATED TO ACCOUNTS AND NOTES RECEIVABLE AND OTHER RECEIVABLES FROM RELATED PARTIES

	Year ended December 31,
	2024			2025
	RMB			RMB
Balance at beginning of the year		16,631			10,965
Current year provision		264			1,522
Reversals		(4,624	)		(2,810	)
Write-off		(1,306	)		(2,927	)
Balance at end of the year		10,965			6,750

SUMMARY OF AGGREGATE FUTURE MINIMUM RENTAL PAYMENTS UNDER NON-CANCELABLE AGREEMENT (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Leases
2026		¥ 1,356
2027		304
2028		131
Total future minimum rental payment		1,791
Less amount representing imputed interest		(60)
Present value of future minimum rental payments		1,731
Less current portion, recorded in other current liabilities	$ 187	1,310	¥ 2,037
Long-term lease liabilities, recorded in other long-term liabilities	$ 60	¥ 421	¥ 1,783

ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

SCHEDULE OF PRINCIPAL SUBSIDIARIES AND VIES

As of December 31, 2025, details of the Company’s principal subsidiaries and VIEs were as follows:

	Place of incorporation	Date of incorporation	Percentage of beneficial ownership			Principal 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:
Guangdong 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,
	2024		2025
	RMB		RMB
Cash and cash equivalents		7,179		334,198
Accounts receivable from third parties (net of allowance of RMB19 and nil as of December 31, 2024 and 2025, respectively)		62		-
Accounts receivable		62		-
Amounts due from Group companies		498,455		173,911
Inventories		68		68
Other assets		6,438		5,163
Total assets		512,202		513,340
Accounts and notes payable		4,320		26
Amounts due to Group companies		168		94
Accrued expenses and other liabilities		1,046		5,853
Other liabilities		186		1,305
Total liabilities		5,720		7,278

	Year ended December 31,
	2023			2024			2025
	RMB			RMB			RMB
Revenue from Group companies ⁽¹⁾		23,344			49,679			1,528
Revenue from a related party and third parties		1,433,072			903,402			170

Cost from Group companies		(790,069	)		(533,402	)		-
Cost from a related party and third parties		(350,185	)		(312,125	)		(1,905	)

Net income (loss)		29,046			8,160			(411	)

(1)

Inter-company revenues between VIEs and other subsidiaries

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.

SCHEDULE OF LONG-TERM BORROWINGS (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Line of Credit Facility [Line Items]
Total		¥ 76,727	¥ 105,245
Less: long-term borrowing-current portion		(25,061)	(29,300)
Long-term borrowing	$ 7,388	51,666	75,945
Line of Credit [Member]
Line of Credit Facility [Line Items]
Total		¥ 76,727	¥ 105,245

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S50
-Paragraph 4
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

2.	SIGNIFICANT ACCOUNTING POLICIES

(a)

Basis of presentation

(b)

Consolidation

(c)

Use of estimates

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(d)

Foreign currency translation

(e)

Convenience translation

(f)

Cash and cash equivalents

i) Readily convertible to known amounts of cash throughout the maturity period;

ii) So near their maturity that they present insignificant risk of changes in value because of changes in interest rates.

(g)

Restricted cash

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(h)

Short-term deposits

(i)

Short-term investments

(j)

Accounts receivable

(k)

Inventories, net

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(l)

Long-term deposits

(m)

Property, plant, and equipment, net

	Estimated useful lives	Residual rate
Buildings	20 years		5	%
Computers and equipment	1-10 years		0%-5	%
Vehicle	4 - 5 years		5	%

(n)

Impairment of long-lived assets

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(o)

Long-term investment

(p)

Land use right, net

(q)

Intangible assets, net

		Estimated useful lives
Software		1 - 10 years
License		6 years

(r)

Leases

Lessee accounting

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(r)

Leases (Continued)

Lessor accounting

(s)	Revenue recognition

The Group conducts its business through various contractual arrangements.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(s)

Revenue recognition (Continued)

Sales to Xiaomi

The Group generated a substantial portion of its revenues from sales of products to Xiaomi.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(s)

Revenue recognition (Continued)

- Sales to leading e-commerce platforms and offline experience stores

- Sales to customers directly through the online platforms operated by Xiaomi, third parties and the Group

- Rendering of services

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(s)

Revenue recognition (Continued)

2)	Sales returns and sales incentives

- Sales to leading e-commerce platforms

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(s)

Revenue recognition (Continued)

- 7 days unconditional sales return

Warranty

4)	Value added taxes

5)	Contract balances

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(s)

Revenue recognition (Continued)

(t)

Cost of revenues

(u)

Research and development expenses

(v)

Selling and marketing expenses

(w)

General and administrative expenses

(x)

Government subsidies

(y)

Employee benefits

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(z)

Share-based compensation

(aa)	Current expected credit losses

	Year ended December 31,
	2024			2025
	RMB			RMB
Balance at beginning of the year		16,631			10,965
Current year provision		264			1,522
Reversals		(4,624	)		(2,810	)
Write-off		(1,306	)		(2,927	)
Balance at end of the year		10,965			6,750

(bb)

Income taxes

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(bb)

Income taxes (Continued)

Uncertain tax positions

(cc)

Comprehensive (loss) income

(dd)

Statutory reserves

The Company’s subsidiaries and VIEs established in the PRC are required to make appropriations to certain non-distributable reserve funds.

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(dd)

Statutory reserves (Continued)

(ee)

Income per share

(ff)

Related parties

(gg)

Discontinued operations

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(hh)

Segment reporting

(ii)

Recently issued accounting pronouncements

Recently issued accounting pronouncements adopted

Recently issued accounting pronouncements not yet adopted

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)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

(ii)

Recently issued accounting pronouncements (Continued)

RESTRICTED NET ASSETS

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

RESTRICTED NET ASSETS

24.	RESTRICTED NET ASSETS

Relevant PRC laws and regulations permit payments of dividends by the Group’s entities incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. In addition, the Company’s entities in the PRC are required to annually appropriate 10% of their net after-tax income to the statutory general reserve fund prior to payment of any dividends, unless such reserve funds have reached 50% of their respective registered capital. As a result of these and other restrictions under PRC laws and regulations, the Company’s entities incorporated in the PRC are restricted in their ability to transfer a portion of their net assets to the Company either in the form of dividends, loans or advances, which restricted portion amounted to RMB97,942 and RMB653,035 as of December 31, 2024 and 2025. Even though the Company currently does not require any such dividends, loans or advances from the PRC entities for working capital and other funding purposes, the Company may in the future require additional cash resources from them due to changes in business conditions, to fund future acquisitions and development, or merely to declare and pay dividends or distributions to its shareholders. Except for the above, there is no other restriction on use of proceeds generated by the Group’s subsidiaries and VIEs to satisfy any obligations of the Company.

For the year ended December 31, 2025, the Company performed a test on the restricted net assets of subsidiaries and VIEs in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that the restricted net assets exceed 25% of the consolidated net assets of the Company as of December 31, 2025 and the condensed financial information of the Company are required to be presented.

Cash transfers from the Company’s PRC subsidiaries to their parent companies outside of China are subject to PRC government control of currency conversion. Shortages in the availability of foreign currency may temporarily restrict the ability of the PRC subsidiaries and VIEs and their subsidiaries to remit sufficient foreign currency to pay dividends or other payments to the Company, or otherwise satisfy their foreign currency denominated obligation.

INVENTORIES, NET (Tables)

12 Months Ended

Dec. 31, 2025

Inventory Disclosure [Abstract]

SCHEDULE OF INVENTORIES

Inventories, net consisted of the followings:

SCHEDULE OF INVENTORIES

	2024		2025
	As of December 31,
	2024		2025
	RMB		RMB
Finished goods		80,853		105,315
Raw materials		31,472		21,564
Inventories, net		112,325		126,879

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2025

Accrued Expenses And Other Liabilities

SCHEDULE OF ACCRUED EXPENSES AND OTHER LIABILITIES

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Accrued payroll and welfare		42,557			62,810
Payment for purchase of property		40,183			42,127
Marketing and promotion expenses		4,187			18,461
Professional fee payables		7,547			14,670
Deposit from suppliers		11,619			11,988
Freight payable		16,879			11,364
Product warranty		40,568			31,035
Other tax payable		6,826			9,871
Installation fee payables		-			335
Refund liabilities		224			129
Other current liabilities		12,029			7,370
Total		182,619			210,160
Less: non-current portion		(14,492	)		(53,117	)
Accrued expenses and other liabilities-current portion		168,127			157,043

SCHEDULE OF PRODUCT WARRANT ACTIVITIES

	Product Warranty
	RMB
Balance at December 31, 2023		5,007
Provided during the year		88,889
Utilized during the year		(46,914	)
Disposed during the year		(6,414	)
Balance at December 31, 2024		40,568
Provided during the year		67,450
Utilized during the year		(76,983	)
Balance at December 31, 2025		31,035

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

21.

FAIR VALUE MEASUREMENTS

Fair value reflects the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the assets or liabilities.

The Group applies a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. This guidance specifies a hierarchy of valuation techniques, which is based on whether the inputs into the valuation technique are observable or unobservable. The hierarchy is as follows:

Level 1—Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured.

Level 2—Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level 2 valuation techniques.

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)

21.

FAIR VALUE MEASUREMENTS (Continued)

Level 3—Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Group’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

The fair value guidance describes three main approaches to measure the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

When available, the Group uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates.

The Group did not have any other financial instruments that were required to be measured at fair value on a recurring basis as of December 31, 2024 and 2025 except for short-term investments (Note 7).

The following table summarizes the Group’s assets that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy as of December 31, 2024 and 2025:

	Level 1⁽ⁱ⁾		Level 2 ⁽ⁱⁱ⁾		Level 3		Total
As of December 31, 2025
Short-term investments		-		82,598		-		82,598
As of December 31, 2024
Short-term investments		48,187		24,313		-		72,500

(i)

These short-term investments represent mainly company securities, and the Company values these short-term investments based on unadjusted quoted prices from active markets of these securities at the end of each period, and accordingly, the Company classifies the valuation techniques that use these inputs as Level 1.

(ii)

These short-term investments represent mainly company securities and structured deposits, and the Company values these short-term investments based on quoted prices of similar products provided by banks at the end of each period, and accordingly, the Company classifies the valuation techniques that use these inputs as Level 2.

Apart from the short-term investments, the Company’s other financial instruments consist principally of cash and cash equivalents, restricted cash, short-term and long-term deposits, accounts and notes receivable, other receivables, amounts due to/from related parties, accounts and notes payable and certain accrued expenses. They are recorded at cost which approximates fair value.

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)

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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SCHEDULE OF PER SHARES EFFECT OF TAX (Details) - ¥ / shares	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Net income per share effect – basic	¥ 0.09	¥ 0.10	¥ 0.07
Net income per share effect – diluted	¥ 0.08	¥ 0.10	¥ 0.07

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) Integer	Dec. 31, 2025 CNY (¥) Integer	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)	Apr. 01, 2019
Product Information [Line Items]
Foreign currency exchange buying rate		6.9931
Impairments of long-lived assets		¥ 0	¥ 0
Estimated useful lives	50 years	50 years
Number of installment payments from customer \| Integer	2	2
Percentage of second installment payment arrangement to total revenue	10.20%	10.20%	10.50%	3.40%
Percentage of estimated profit margin based on consideration of specific and relevant market factors	5.00%	5.00%
Expected sales return		¥ 114,000	¥ 198,000	¥ 24,000
Expected return asset		63,000	88,000
Refund liability		129,000	224,000
Value added tax rate					13.00%
Accounts and notes receivable from key customers		371,458,000	626,290,000
Accounts receivable from customers		2,927,000	1,306,000
Contract assets		0	0
Deferred revenue		416,000	1,864,000
Advertising and market promotion expenses		95,462,000	53,234,000	62,107,000
Shipping expenses		43,670,000	50,416,000	66,870,000
Subsidy income		28,272,000	36,213,000	8,641,000
Allowance for doubtful accounts	$ (184)	(1,288,000)	(4,359,000)	1,242,000
Expected credit loss provision for accounts and notes receivable and other receivables		6,750,000	10,965,000	16,631,000
Uncertain tax positions, interest and penalties recognized		0	0
Statutory reserve funds		26,493,000
Accumulated statutory reserve funds recognized in additional paid-in capital		¥ 39,010,000	12,517,000
Number of operating segment \| Integer	1	1
Number of reportable segments \| Integer	1	1
General and Administrative Expenses [Member]
Product Information [Line Items]
Allowance for doubtful accounts		¥ 1,288,000	4,360,000	2,563,000
PRC Contribution Plan [Member]
Product Information [Line Items]
Employee benefit expenses		25,565,000	14,188,000	¥ 18,857,000
Installation Services [Member]
Product Information [Line Items]
Revenue recognized amount		1,864,000	¥ 1,763,000
Membership Service [Member]
Product Information [Line Items]
Expect to recognize unearned amount for remaining performance obligation in 2026		¥ 416,000

RESTRICTED CASH (Details Narrative) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Restricted Cash
Restricted cash	$ 23,513	¥ 164,431	¥ 141,292	¥ 18,922
Deposit required for issuing bank acceptance bills		77,332	62,108
Capital deposit		770	770
Foreign exchange deposits		¥ 79,717	¥ 78,414

INCOME TAX EXPENSES

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

INCOME TAX EXPENSES

16.	INCOME TAX EXPENSES

Cayman Islands

Under the current tax laws of the Cayman Islands, the Company and its subsidiaries are not subject to tax on income or capital gains. Besides, upon payment of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed.

Hong Kong

Under the current Hong Kong Inland Revenue Ordinance, the subsidiaries of the Group in Hong Kong are subject to 8.25% and 16.5% Hong Kong profit tax on its taxable income within HKD$2 million and beyond HKD$2 million, respectively, generated from operations in Hong Kong. Additionally, payments of dividends by the subsidiaries incorporated in Hong Kong to the Company are not subject to any Hong Kong withholding tax.

PRC

In accordance with the Enterprise Income Tax Law (“EIT Law”), Foreign Investment Enterprises (“FIEs”) and domestic companies are subject to Enterprise Income Tax (“EIT”) at a uniform rate of 25%. The subsidiaries and VIEs of the Group in the PRC are subject to a uniform income tax rate of 25% for years presented except for the entities which are qualified to certified High and New Technology Enterprises (“HNTE”) that are entitled to a favorable statutory tax rate of 15%. According to a policy promulgated by the State Tax Bureau of the PRC and effective from 2008 onwards, enterprises engaged in research and development activities are entitled to claim an additional tax deduction amounting to 50% of the qualified research and development expenses incurred in determining its tax assessable profits for that year. The additional tax deduction has been increased from 50% of the qualified research and development expenses to 75%, effective from 2018 to 2020, according to a new tax incentives policy promulgated by the State Tax Bureau of the PRC in September 2018. The additional tax deduction has been increased from 75% of the qualified research and development expenses to 100%, effective from 2021, according to a new tax incentives policy promulgated by the State Tax Bureau of the PRC in May 2021 (“Super Deduction”).

Withholding tax on undistributed dividends

Under the CIT Law and its implementation rules, the profits of a foreign-invested enterprise arising in 2008 and thereafter that are distributed to its immediate holding company outside the PRC are subject to withholding tax at a rate of 10%. A lower withholding tax rate will be applied if there is a beneficial tax treaty between the PRC and the jurisdiction of the foreign holding company. A holding company in Hong Kong, for example, will be eligible, with approval of the PRC local tax authority, to be subject to a 5% withholding tax rate under the Arrangement Between the PRC and the Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital if such holding company is considered to be a non-PRC resident enterprise and holds at least 25% of the equity interests in the PRC foreign-invested enterprise distributing the dividends. However, if the Hong Kong holding company is not considered to be the beneficial owner of such dividends under applicable PRC tax regulations, such dividend will remain subject to withholding tax at a rate of 10%. Aggregate undistributed earnings of the Group entities located in the PRC that are available for distribution to the Company as of December 31, 2024 and 2025 are approximately nil and RMB334,248, respectively. The Company does not intend to have any of its subsidiaries located in the PRC distribute any undistributed earnings of such subsidiaries in the foreseeable future, but rather expects that such earnings will be reinvested by such subsidiaries for their PRC daily operations. Accordingly, no withholding tax was recorded as of December 31, 2024 and 2025.

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)

16.

INCOME TAX EXPENSES (Continued)

Composition of income tax expense

The current and deferred components of income taxes appearing in the consolidated statements of comprehensive (loss) income are as follows:

	2023		2024			2025
	Year ended December 31,
	2023		2024			2025
	RMB		RMB			RMB
Current tax expenses		11,544		21,686			11,295
Deferred tax expenses (benefit)		2,044		(4,773	)		1,363
Income tax expenses		13,588		16,913			12,658

Reconciliation between the income tax expenses computed by applying the PRC enterprise tax rate to income before income taxes and actual provision were as follows:

	2023					2024					2025
	Year ended December 31,
	2023					2024					2025
	RMB			%		RMB			%		RMB			%
Income from operations in the PRC		126,692					177,311					157,704
Income (loss) from overseas entities		3,371					(15,713	)				(3,117	)
Income before income tax		130,063					161,598					154,587
Tax expense from overseas entities at PRC enterprise income tax rate		32,515		25.0	%		40,400		25.0	%		38,647		25.0	%
Effect of income tax in jurisdictions other than the PRC		(2,625	)	(2.0	)%		(311	)	(0.2	)%		(3,759	)	(2.4	)%

Nontaxable or nondeductible items
Income tax on tax holiday⁽¹⁾		(14,952	)	(11.5	)%		(20,298	)	(12.6	)%		(17,545	)	(11.3	)%
Tax effect of permanent differences⁽²⁾		(12,860	)	(9.9	)%		(13,572	)	(8.4	)%		(16,382	)	(10.6	)%

Change in valuation allowance⁽³⁾		11,494		8.8	%		8,227		5.1	%		9,585		6.2	%
Effect of share-based compensation		16		0.0	%		2,467		1.5	%		2,112		1.4	%
Income tax expenses		13,588		10.4	%		16,913		10.4	%		12,658		8.3	%

(1)

(2)

The permanent book-tax differences mainly consisted of R&D super deductions.

(3)

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)

16.

INCOME TAX EXPENSES (Continued)

The per share effect of the tax holidays were as follows:

SCHEDULE OF PER SHARES EFFECT OF TAX

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Net income per share effect – basic		0.07		0.10		0.09
Net income per share effect – diluted		0.07		0.10		0.08

Deferred tax assets

The significant components of the Group’s deferred tax assets were as follows:

SCHEDULE OF DEFERRED TAX ASSETS

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Accrued expenses and others		9,363			8,343
Net operating loss carry forwards		39,905			49,541
Inventories write downs		388			120
Deferred income		74			28
Total deferred tax assets		49,730			58,032
Less: valuation allowance		(40,032	)		(49,617	)
Deferred tax assets, net		9,698			8,415

Movement of valuation allowance:

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Balance at beginning of the year		20,358		31,852		40,032
Provided		11,494		8,180		9,585
Balance at end of the year		31,852		40,032		49,617

Uncertain tax positions

The Group evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. As of December 31, 2024 and 2025, the Group did not have any significant unrecognized uncertain tax positions.

According to the PRC Tax Administration and Collection Law, the statute of limitations is generally three years and can be extended to five years under special circumstances.

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)

The entire disclosure for income tax.

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-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

SUMMARY OF CONCENTRATION OF RISK

ORDINARY SHARES (Details Narrative) ¥ / shares in Units, ¥ in Thousands		12 Months Ended
	Aug. 23, 2018 CNY (¥) ¥ / shares shares	Dec. 31, 2025 $ / shares shares	Dec. 31, 2024 $ / shares shares	Dec. 31, 2023 shares	Dec. 31, 2022 shares
Class of Stock [Line Items]
Shares issued \| ¥	¥ 50,000
Shates issued	5,000,000,000
Common Stock shares authorized	50,000,000
Common stock, shares authorized \| ¥ / shares	¥ 0.00001
Stock issued during exercised		1,218,363	355,543	176,883
Common Class A [Member]
Class of Stock [Line Items]
Common Stock shares authorized	4,800,000,000	4,800,000,000	4,800,000,000
Common stock, shares authorized \| (per share)	¥ 0.00001	$ 0.00001	$ 0.00001
Common stock shares outstanding		99,200,641	101,059,544
Shares outstanding		99,200,641	101,059,544	101,902,544	104,539,463
Stock issued during exercised		1,218,363	355,542	176,883
Stock issued during repurchased		3,077,262	1,198,542	2,903,802
Common Class A [Member] \| IPO [Member]
Class of Stock [Line Items]
Shates issued		16,145,454
Common stock shares outstanding		4,000,000
Common Class A [Member] \| IPO [Member] \| Two Thousand Eighteen [Member]
Class of Stock [Line Items]
Shates issued		34,200,000
Shates issued		90,200,000
Common Class B [Member]
Class of Stock [Line Items]
Common Stock shares authorized	150,000,000	150,000,000	150,000,000
Common stock, shares authorized \| (per share)	¥ 0.00001	$ 0.00001	$ 0.00001
Common stock shares outstanding		102,764,548	102,764,550
Shares outstanding		102,764,548	102,764,550	102,764,550	102,854,550
Stock issued during exercised				90,000
Common Class B [Member] \| IPO [Member]
Class of Stock [Line Items]
Shates issued		33,818,182
Common Class B [Member] \| IPO [Member] \| Two Thousand Eighteen [Member]
Class of Stock [Line Items]
Shates issued		117,600,000
Common Class B [Member] \| IPO [Member] \| Mr Chens [Member]
Class of Stock [Line Items]
Shates issued		67,636,364
Preferred Class A [Member] \| IPO [Member]
Class of Stock [Line Items]
Common stock shares outstanding		18,181,818

CONCENTRATION AND RISKS (Tables)

12 Months Ended

Dec. 31, 2025

Risks and Uncertainties [Abstract]

Concentration risk of accounts and notes receivable from third parties are presented as below:

SUMMARY OF CONCENTRATION OF RISK

	As of December 31,
	2024				2025
	RMB				RMB
Company A		9,653	40	%		16,070	51	%
Company B		-	-			6,004	19	%
Company C		4,440	18	%		-	-

Concentration risk of accounts receivable from related parties are presented as below:

	As of December 31,
	2024				2025
	RMB				RMB
Xiaomi		591,221	100	%		304,078	89	%
Foshan Viomi		-	-			36,095	11	%

Concentration risk of other receivables from related parties are presented as below:

	As of December 31,
	2024				2025
	RMB				RMB
Xiaomi		100	1	%		200	100	%
Foshan Viomi		11,134	99	%		-	-

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)

4.	CONCENTRATION AND RISKS (Continued)

(c)

Revenue concentration risk

	Year ended December 31,
	2023				2024				2025
	RMB				RMB				RMB
Xiaomi		1,292,880	79	%		1,752,246	83	%		2,174,895	90	%

SUMMARY OF CONCENTRATION OF RISK (Details)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2025

USD ($)

Dec. 31, 2025

CNY (¥)

Dec. 31, 2024

CNY (¥)

Dec. 31, 2023

CNY (¥)

Other receivables from a related party

¥ 371,458

¥ 626,290

45,267

37,236

$ 347,232

2,428,226

2,118,982

¥ 1,638,736

Related Party [Member]

Xiaomi [Member] | Related Party [Member]

$ 316,711

2,214,789

1,819,098

1,292,880

Foshan Viomi [Member] | Related Party [Member]

^[1]

2,174,895

1,752,246

1,292,880

Accounts Receivable [Member] | Credit Concentration Risk [Member] | Xiaomi [Member] | Related Party [Member]

^[2]

¥ 39,894

¥ 66,852

89.00%

100.00%

Accounts Receivable [Member] | Credit Concentration Risk [Member] | Foshan Viomi [Member] | Related Party [Member]

¥ 304,078

¥ 591,221

11.00%

Other Receivables [Member] | Credit Concentration Risk [Member] | Xiaomi [Member] | Related Party [Member]

¥ 36,095

Other receivables from a related party

100.00%

1.00%

¥ 200

¥ 100

Other Receivables [Member] | Credit Concentration Risk [Member] | Foshan Viomi [Member] | Related Party [Member]

Other receivables from a related party

99.00%

¥ 11,134

Revenue Benchmark [Member] | Revenue from Rights Concentration Risk [Member] | Xiaomi [Member] | Related Party [Member]

90.00%

83.00%

79.00%

Company A [Member] | Accounts And Notes Receivable [Member] | Credit Concentration Risk [Member]

¥ 2,174,895

¥ 1,752,246

¥ 1,292,880

Accounts and notes receivable

¥ 16,070

¥ 9,653

Company B [Member] | Accounts And Notes Receivable [Member] | Credit Concentration Risk [Member]

51.00%

40.00%

Accounts and notes receivable

¥ 6,004

Company C [Member] | Accounts And Notes Receivable [Member] | Credit Concentration Risk [Member]

19.00%

Accounts and notes receivable

¥ 4,440

Net (loss) income per share attributable to ordinary shareholders of the Company

18.00%

[1]	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.
[2]	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.

NET INCOME PER SHARE (Tables)

12 Months Ended

Dec. 31, 2025

SUMMARY OF NET INCOME PER SHARE, BASIC AND DILUTED

Basic net income per share is the amount of net income available to each share of ordinary shares outstanding during the reporting period. Diluted net income per share is the amount of net income available to each share of ordinary shares outstanding during the reporting period adjusted to include the effect of potentially dilutive ordinary shares.

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Numerator:
Numerator for basic calculation - Net income attributable to ordinary shareholders of the Company from continuing operations		116,768		144,364		141,644

Denominator:
Denominator for basic calculation - weighted average ordinary shares outstanding		206,387,105		204,787,786		203,997,871
Dilutive effect of share options		1,280,658		1,903,131		6,922,622
Denominator for diluted calculation		207,667,763		206,690,917		210,920,493

Basic net income per ordinary share from continuing operations		0.57		0.70		0.69
Diluted net income per ordinary share from continuing operations		0.56		0.70		0.67

PREPAID EXPENSES AND OTHER ASSETS

12 Months Ended

Dec. 31, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER ASSETS

9.	PREPAID EXPENSES AND OTHER ASSETS

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Advances to suppliers		47,204			96,911
Other receivables		37,236			45,267
Prepayment for equipment		2,367			17,225
Prepaid expenses		1,138			16,101
Lease hold improvement		1,383			584
Expected return assets		88			63
Total		89,416			176,151
Less: non-current portion		(18,053	)		(19,055	)
Prepaid expenses and other assets-current portion		71,363			157,096

LAND USE RIGHT, NET (Tables)

12 Months Ended

Dec. 31, 2025

Land Use Right Net

SUMMARY OF LAND USE RIGHT, NET

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Land use right		63,618			63,618
Less: accumulated amortization		(5,714	)		(6,987	)
Land use right, net		57,904			56,631

SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE FOR LAND USE RIGHTS

The estimated future amortization expense for land use rights is as follows:

Years ending December 31,	RMB
2026		1,273
2027		1,273
2028		1,273
2029		1,273
2030		1,273
Thereafter		50,266
Total		56,631

SCHEDULE OF PROPERTY PLANT AND EQUIPMENT ESTIMATED USEFUL LIVES AND RESIDUAL RATE (Details)	Dec. 31, 2025
Building [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated useful lives	20 years
Property, plant and equipment, Residual rate	5.00%
Computer Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated useful lives	1 year
Property, plant and equipment, Residual rate	0.00%
Computer Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated useful lives	10 years
Property, plant and equipment, Residual rate	5.00%
Vehicle [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Residual rate	5.00%
Vehicle [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated useful lives	4 years
Vehicle [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Estimated useful lives	5 years

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

SUMMARY OF CAPITAL AND OTHER COMMITMENT

Capital expenditures contracted for at the balance sheet dates but not recognized in the consolidated financial statements are as follows:

SUMMARY OF CAPITAL AND OTHER COMMITMENT

	2024		2025
	As of December 31,
	2024		2025
	RMB		RMB
Property, plant, and equipment		40,848		57,147

SUMMARY OF RELATED PARTY TRANSACTIONS (Details) (Parenthetical) - Foshan Viomi [Member] - Related Party [Member] ¥ in Millions, $ in Millions	Jul. 01, 2024 USD ($)	Feb. 14, 2019 CNY (¥)
Loans Receivable [Member]
Related Party Transaction [Line Items]
Related party transaction amount \| $	$ 20.0
Related party transaction rate	4.00%
Loans Payable [Member]
Related Party Transaction [Line Items]
Related party transaction amount \| ¥		¥ 10.0
Related party transaction rate		4.80%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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SCHEDULE OF FINANCIAL STATEMENT AMOUNTS AND BALANCES OF VIES (Details) (Parenthetical) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Accounts receivable from net of allowance			¥ 19
Total net revenues	$ 347,232	2,428,226	2,118,982	¥ 1,638,736
Variable Interest Entity To Variable Interest Entity Primary Beneficiary And Subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Total net revenues		¥ 1,528	¥ 49,679	¥ 23,344

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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SUMMARY OF ASSETS MEASURED AT FAIR VALUE ON RECURRING BASIS

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

The following table summarizes the Group’s assets that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy as of December 31, 2024 and 2025:

	Level 1⁽ⁱ⁾		Level 2 ⁽ⁱⁱ⁾		Level 3		Total
As of December 31, 2025
Short-term investments		-		82,598		-		82,598
As of December 31, 2024
Short-term investments		48,187		24,313		-		72,500

(i)

(ii)

INVENTORIES, NET

12 Months Ended

Dec. 31, 2025

Inventory Disclosure [Abstract]

INVENTORIES, NET

8.	INVENTORIES, NET

Inventories, net consisted of the followings:

SCHEDULE OF INVENTORIES

	2024		2025
	As of December 31,
	2024		2025
	RMB		RMB
Finished goods		80,853		105,315
Raw materials		31,472		21,564
Inventories, net		112,325		126,879

The Group recorded inventory written down amounted to RMB3,104 and RMB805 as of December 31, 2024 and 2025, respectively.

SCHEDULE OF DEFERRED TAX ASSETS (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Accrued expenses and others	¥ 8,343	¥ 9,363
Net operating loss carry forwards	49,541	39,905
Inventories write downs	120	388
Deferred income	28	74
Total deferred tax assets	58,032	49,730
Less: valuation allowance	(49,617)	(40,032)
Deferred tax assets, net	¥ 8,415	¥ 9,698

Cover	12 Months Ended
Cover	Dec. 31, 2025 ¥ / shares shares
Entity Addresses [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2025
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--12-31
Entity File Number	001-38649
Entity Registrant Name	Viomi Technology Co., Ltd
Entity Central Index Key	0001742770
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Wansheng Square, Rm 1302 Tower C
Entity Address, Address Line Two	Xingang East Road
Entity Address, Address Line Three	Haizhu District
Entity Address, City or Town	Guangdong
Entity Address, Country	CN
Entity Address, Postal Zip Code	510220
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Contact Personnel Email Address	chenxp@viomi.com
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	1171
Auditor Opinion [Text Block]	We have audited the accompanying consolidated balance sheets of Viomi Technology Co., Ltd and its subsidiaries (the Company) as of December 31, 2024 and 2025, and the related consolidated statements of comprehensive (loss) income, changes in shareholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2025, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2025, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.
Auditor Name	WWC, P.C.
Auditor Location	San Mateo, California
Common Stock [Member]
Entity Addresses [Line Items]
Entity Common Stock, Shares Outstanding	201,965,189
American Depositary Shares Each Representing Three Class A Ordinary Shares
Entity Addresses [Line Items]
Title of 12(b) Security	American depositary shares, each representing three Class A ordinary shares
Trading Symbol	VIOT
Security Exchange Name	NASDAQ
Class A Ordinary Shares Par Value Us 0.00001 Per Share [Member]
Entity Addresses [Line Items]
Title of 12(b) Security	Class A ordinary shares, par value US$0.00001 per share
No Trading Symbol Flag	true
Security Exchange Name	NASDAQ
Common Class A [Member] \| Common Stock [Member]
Entity Addresses [Line Items]
Entity Common Stock, Shares Outstanding	99,200,641
Entity Listing, Par Value Per Share \| ¥ / shares	¥ 0.00001
Common Class B [Member] \| Common Stock [Member]
Entity Addresses [Line Items]
Entity Common Stock, Shares Outstanding	102,764,548
Entity Listing, Par Value Per Share \| ¥ / shares	¥ 0.00001
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	Wansheng Square, Rm 1302 Tower C
Entity Address, Address Line Two	Xingang East Road
Entity Address, Address Line Three	Haizhu District
Entity Address, City or Town	Guangdong
Entity Address, Country	CN
Entity Address, Postal Zip Code	510220
Country Region	+86
City Area Code	20
Local Phone Number	8930 9496
Contact Personnel Name	Xiaoping Chen

SUMMARY OF RELATED PARTY TRANSACTION RELATIONSHIP (Details)

12 Months Ended

Dec. 31, 2025

Founder [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Relationship with the Group

Founder

Foshan Yunmi Electric Appliances Technology Company Limited [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Relationship with the Group

Controlled by a principal shareholder of the Company

^[1]

Xiaomi [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Relationship with the Group

Shareholder of the Group

[1]

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.

A description of the related party transaction, including transactions to which no amounts or nominal amounts were ascribed and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements. Examples of common related party transactions are, sales, purchases and transfers of realty and personal property, services received or furnished, loans and leases to and from top management and affiliates.

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2025

SUMMARY OF COMPENSATION EXPENSE RECOGNIZED FOR SHARE-BASED AWARDS

Compensation expense recognized for share-based awards was as follows:

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Share-based compensation expenses
—Share options^(a)		106		16,450		14,080

SUMMARY OF ASSUMPTIONS USED TO DETERMINE THE FAIR VALUE OF SHARE OPTIONS GRANTED

The Group calculated the estimated fair value of the options on the respective grant dates using the binomial option pricing model. Assumptions used to determine the fair value of share options granted during 2024 and 2025 are summarized in the following table:

	Year ended December 31,
	2024			2025
Risk-free interest rate		3.90%-4.38	%		4.35%-4.40	%
Expected volatility		59.20%-59.21	%		60.31%-61.13	%
Expected life of option (years)		20			20
Expected dividend yield		-			-
Fair value per ordinary share		0.13-0.53			0.45-1.01

SUMMARY OF STOCK OPTION ACTIVITY

A summary of the stock option activity under the 2015 Share Incentive Plan and 2018 Share Incentive Plan for the years ended December 31, 2023, 2024, and 2025 is included in the table below.

SUMMARY OF STOCK OPTION ACTIVITY

	Number of options			Weighted average exercise price (US$)		Weighted average remaining contractual life (years)		Aggregate intrinsic value (US$)
Outstanding at December 31, 2022		19,742,616			0.81		6.49		22,974
Granted
Forfeited		(5,047,307	)		0.78
Exercised		(176,883	)		0.03
Outstanding at December 31, 2023		14,518,426			0.83		5.58		15,553
Granted		11,920,000			0.11
Forfeited		(1,642,047	)		0.54
Exercised		(355,543	)		0.04
Outstanding at December 31, 2024		24,440,836			0.51		11.43		19,794
Granted		4,880,000			0.11		-		-
Forfeited		(3,065,568	)		0.17		-		-
Exercised		(1,218,363	)		0.82		-		-
Outstanding at December 31, 2025		25,036,905			0.46		11.73		21,353
Exercisable as of December 31, 2025		11,366,907			0.82		3.48		12,840
Expected to vest as of December 31, 2025		13,557,594			0.15		18.59		8,328

LAND USE RIGHT, NET

12 Months Ended

Dec. 31, 2025

Land Use Right Net

LAND USE RIGHT, NET

11.

LAND USE RIGHT, NET

In 2020, the Group obtained a land use right in Foshan from the local authorities. Amortization of the land use right is made over the remaining term of the land use right period from the date when the land was made available for use by the Group. The land use right is summarized as follows:

SUMMARY OF LAND USE RIGHT, NET

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Land use right		63,618			63,618
Less: accumulated amortization		(5,714	)		(6,987	)
Land use right, net		57,904			56,631

The Group had recorded amortization expense of RMB1,272, RMB1,273 and RMB1,273 for the years ended December 31, 2023, 2024, and 2025, respectively.

In addition, the Group also pledged its land use right for the Group’s long-term borrowings (See Note 12).

The estimated future amortization expense for land use rights is as follows:

Years ending December 31,	RMB
2026		1,273
2027		1,273
2028		1,273
2029		1,273
2030		1,273
Thereafter		50,266
Total		56,631

SCHEDULE OF ACCRUED EXPENSES AND OTHER LIABILITIES (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Accrued Expenses And Other Liabilities
Accrued payroll and welfare		¥ 62,810	¥ 42,557
Payment for purchase of property		42,127	40,183
Marketing and promotion expenses		18,461	4,187
Professional fee payables		14,670	7,547
Deposit from suppliers		11,988	11,619
Freight payable		11,364	16,879
Product warranty		31,035	40,568
Other tax payable		9,871	6,826
Installation fee payables		335
Refund liabilities		129	224
Other current liabilities		7,370	12,029
Total		210,160	182,619
Less: non-current portion		(53,117)	(14,492)
Accrued expenses and other liabilities-current portion	$ 22,457	¥ 157,043	¥ 168,127

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2025

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

SUMMARY OF RELATED PARTY TRANSACTIONS

(1)

Amount due from/to related parties

	2024		2025
	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
Accounts receivable from a related party		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
Other receivables from related parties		11,234		200

Amounts due to related parties:
Purchase and other payable to Xiaomi^(a)		835		596
Total		835		596
Amounts due to related parties		835		596

(2)

Purchase from related parties

	2023		2024		2025
	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
Purchase from related parties		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

	2023		2024		2025
	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
Revenue from related parties		1,292,880		1,819,098		2,214,789

(4)

Research and development expenses

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Xiaomi^(a)		716		273		-
Research and development expenses		716		273		-

(5)

Selling and marketing expenses

	2023		2024		2025
	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
Selling and marketing expenses		25,308		20,799		58,455

(6)

Other income and expenses

	2023		2024		2025
	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.

REVENUE

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

REVENUE

15.

REVENUE

SCHEDULE OF REVENUE

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Sales of products
- Home water solutions		1,077,858		1,498,368		1,686,566
- Kitchen appliances and others		214,279		337,177		484,565
- Consumables		324,738		277,704		235,388
Total of sales of products		1,616,875		2,113,249		2,406,519
Rendering of services		21,861		5,733		21,707
Total		1,638,736		2,118,982		2,428,226

All the revenue is recognized at a point in time when control of the promised goods is transferred to the customers.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

PREPAID EXPENSES AND OTHER ASSETS (Tables)

12 Months Ended

Dec. 31, 2025

SCHEDULE OF PREPAID EXPENSES AND OTHER ASSETS

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Advances to suppliers		47,204			96,911
Other receivables		37,236			45,267
Prepayment for equipment		2,367			17,225
Prepaid expenses		1,138			16,101
Lease hold improvement		1,383			584
Expected return assets		88			63
Total		89,416			176,151
Less: non-current portion		(18,053	)		(19,055	)
Prepaid expenses and other assets-current portion		71,363			157,096

SUBSEQUENT EVENT (Details Narrative) $ / shares in Units, ¥ in Thousands, $ in Thousands	Mar. 25, 2026 $ / shares	Jan. 07, 2026 CNY (¥)	Jan. 01, 2026 CNY (¥)	Mar. 25, 2025	Jan. 08, 2025	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Subsequent Event [Line Items]
Short-term borrowing						$ 5,720	¥ 40,000	¥ 50,000
Maturity date				Mar. 26, 2026	Jan. 15, 2026
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock dividends, per share declared \| $ / shares	$ 0.022
Loan Agreement with Industrial and Commercial Bank of China [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Short-term borrowing \| ¥		¥ 100	¥ 200
Maturity date		Jan. 21, 2027	Dec. 31, 2026
Fixed interest rate		2.30%	2.25%

COMMITMENTS AND CONTINGENCIES (Details Narrative) ¥ in Thousands	Dec. 31, 2025 CNY (¥)
Commitments and Contingencies Disclosure [Abstract]
Future minimum commitments under non-cancelable agreements	¥ 0

BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

SCHEDULE OF SHORT-TERM BORROWINGS

Short-term bank loans consisted of the following:

SCHEDULE OF SHORT-TERM BORROWINGS

	2024		2025
	As of December 31,
	2024		2025
	RMB		RMB
Bank of China ⁽¹⁾		30,000		30,000
Industrial and Commercial Bank of China ⁽²⁾		20,000		10,000
Total		50,000		40,000
Short term borrowings		50,000		40,000

	(1)	On January 8, 2025, the Group entered into a loan agreement with Bank of China to borrow RMB30.0 million as working capital for one year. The loan was withdrawn on January 15, 2025 and as a maturity date in January 15, 2026. The loan has a fixed interest rate of 2.85% per annum. The loan was fully repaid upon maturity.

	(2)	On March 25, 2025, the Group entered into a loan agreement with Industrial and Commercial Bank to borrow RMB10.0 million as working capital for one year, with a maturity date of March 26, 2026. These loans have a fixed interest rate of 2.75% per annum. The loan was fully repaid upon maturity.

SCHEDULE OF LONG-TERM BORROWINGS

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Agricultural Bank of China		105,245			76,727
Total		105,245			76,727

Less: long-term borrowing-current portion		(29,300	)		(25,061	)

Long-term borrowing		75,945			51,666

SCHEDULE OF FUTURE MATURITIES OF LONG-TERM BORROWINGS

The future maturities of long-term borrowings as of December 31, 2025 were as follows:

12 months ending December 31,	RMB
2026		25,061
2027		24,959
2028		24,959
2029		1,180
2030		568
Total long-term borrowings		76,727

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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SCHEDULE OF MOVEMENT OF VALUATION ALLOWANCE (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Balance at beginning of the year	¥ 40,032	¥ 31,852	¥ 20,358
Provided	9,585	8,180	11,494
Balance at end of the year	¥ 49,617	¥ 40,032	¥ 31,852

BORROWINGS

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

BORROWINGS

12.

BORROWINGS

(1)

Short-term borrowings

Short-term bank loans consisted of the following:

SCHEDULE OF SHORT-TERM BORROWINGS

	2024		2025
	As of December 31,
	2024		2025
	RMB		RMB
Bank of China ⁽¹⁾		30,000		30,000
Industrial and Commercial Bank of China ⁽²⁾		20,000		10,000
Total		50,000		40,000
Short term borrowings		50,000		40,000

	(1)	On January 8, 2025, the Group entered into a loan agreement with Bank of China to borrow RMB30.0 million as working capital for one year. The loan was withdrawn on January 15, 2025 and as a maturity date in January 15, 2026. The loan has a fixed interest rate of 2.85% per annum. The loan was fully repaid upon maturity.

	(2)	On March 25, 2025, the Group entered into a loan agreement with Industrial and Commercial Bank to borrow RMB10.0 million as working capital for one year, with a maturity date of March 26, 2026. These loans have a fixed interest rate of 2.75% per annum. The loan was fully repaid upon maturity.

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)

12.

BORROWINGS (Continued)

The Group incurred interest expenses for short-term borrowings of nil and RMB1,263 and RMB1,182 for the years ended December 31, 2023, 2024, and 2025, respectively. The annual weighted average interest rates were nil and 2.85% and 2.83% for the years ended December 31, 2023, 2024, and 2025, respectively.

(2)

Long-term borrowings

SCHEDULE OF LONG-TERM BORROWINGS

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Agricultural Bank of China		105,245			76,727
Total		105,245			76,727

Less: long-term borrowing-current portion		(29,300	)		(25,061	)

Long-term borrowing		75,945			51,666

On March 8, 2021, The Group entered into a line of credit agreement with Agricultural Bank of China, which is used for the development of Viomi Technology Park, a comprehensive high-tech industrial campus, which was completed in the second half of 2023. The line of credit is effective from March 8, 2021 to March 7, 2026 and the credit limit is RMB310,000. The loan is guaranteed by Foshan Viomi, a related party of the Group. As of December 31, 2025, the Group borrowed, in aggregate, a total of RMB193,489 under the line of credit, with interest rate ranging from 2.75% to 2.90% per annum. The Group repaid a total of RMB116,762, and the outstanding balance of long-term borrowings was RMB76,727 as of December 31, 2025. As of December 31, 2025, the Group had unutilized lines of credit of RMB116,511 under the line of credit agreement with Agricultural Bank of China.

The future maturities of long-term borrowings as of December 31, 2025 were as follows:

12 months ending December 31,	RMB
2026		25,061
2027		24,959
2028		24,959
2029		1,180
2030		568
Total long-term borrowings		76,727

The Group’s building properties with net book values of RMB233,289 and land use right with net book values of RMB56,631 were pledged as collateral to secure these loans as of December 31, 2025.

The Group completed the construction in the second half of 2023, and prior to the completion, the Group capitalized the interest expense as cost of the assets, and after the assets was ready for its intended use, the Group expenses off the interest expenses. The Group capitalized interest expense of RMB5,031 for the year ended December 31, 2023, and the Group recorded interest expenses of RMB4,262 and RMB2,590 for the years ended December 31, 2024, and 2025, respectively.

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)

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2025

COMMITMENTS AND CONTINGENCIES

23.	COMMITMENTS AND CONTINGENCIES

(a)

Operating lease commitments

The operating commitments mainly consist of the short-term lease commitments and leases that have not yet commenced but that create significant rights and obligations for the Company, which are not included in operating lease right-of–use assets and lease liabilities. As of December 31, 2025, there were no future minimum commitments under non-cancelable agreements.

(b)

Capital and other commitment

Capital expenditures contracted for at the balance sheet dates but not recognized in the consolidated financial statements are as follows:

SUMMARY OF CAPITAL AND OTHER COMMITMENT

	2024		2025
	As of December 31,
	2024		2025
	RMB		RMB
Property, plant, and equipment		40,848		57,147

(c)

Legal proceedings

From time to time, the Group is involved in claims and legal proceedings that arise in the ordinary course of business. Based on currently available information, management does not believe that the ultimate outcome of these unresolved matters, individually and in the aggregate, is likely to have a material adverse effect on the Group’s financial position, results of operations or cash flows.

However, litigation is subject to inherent uncertainties and the Group’s view of these matters may change in the future. If an unfavorable outcome were to occur, there exists the possibility of a material adverse impact on the Group’s financial position and results of operations for the periods in which the unfavorable outcome occurs.

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)

SUMMARY OF ASSUMPTIONS USED TO DETERMINE THE FAIR VALUE OF SHARE OPTIONS GRANTED (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate, minimum	4.35%	3.90%
Risk-free interest rate, maximum	4.40%	4.38%
Expected volatility, minimum	60.31%	59.20%
Expected volatility, maximum	61.13%	59.21%
Expected life of option (years)	20 years	20 years
Expected dividend yield
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value per ordinary share	¥ 0.45	¥ 0.13
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value per ordinary share	¥ 1.01	¥ 0.53

CONCENTRATION AND RISKS

12 Months Ended

Dec. 31, 2025

Risks and Uncertainties [Abstract]

CONCENTRATION AND RISKS

4.	CONCENTRATION AND RISKS

(a)

Foreign exchange risk

The revenues and expenses of the Group’s entities in the PRC are generally denominated in RMB and their assets and liabilities are denominated in RMB. The RMB is not freely convertible into foreign currencies. Remittances of foreign currencies into the PRC or remittances of RMB out of the PRC as well as exchange between RMB and foreign currencies require approval by foreign exchange administrative authorities and certain supporting documentation. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into other currencies.

(b)

Credit risk

Financial instruments that potentially expose the Group to credit risk consist primarily of cash and cash equivalents, restricted cash, short-term investments, short-term and long-term deposits, accounts and notes receivable and amounts due from related parties. The Group places its cash and cash equivalents, restricted cash, short-term investments and short-term deposits with financial institutions with high credit ratings and quality. There has been no recent history of default in relation to these financial institutions and credit risk is immaterial.

The Group conducts credit evaluations of third-party customers and related parties, and generally does not require collateral or other security from its third-party customers and related parties. The Group establishes an allowance for credit losses primarily based upon the age of the receivables and factors surrounding the credit risk of specific third-party customers and related parties.

Concentration risk of accounts and notes receivable from third parties are presented as below:

SUMMARY OF CONCENTRATION OF RISK

	As of December 31,
	2024				2025
	RMB				RMB
Company A		9,653	40	%		16,070	51	%
Company B		-	-			6,004	19	%
Company C		4,440	18	%		-	-

Concentration risk of accounts receivable from related parties are presented as below:

	As of December 31,
	2024				2025
	RMB				RMB
Xiaomi		591,221	100	%		304,078	89	%
Foshan Viomi		-	-			36,095	11	%

Concentration risk of other receivables from related parties are presented as below:

	As of December 31,
	2024				2025
	RMB				RMB
Xiaomi		100	1	%		200	100	%
Foshan Viomi		11,134	99	%		-	-

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)

4.	CONCENTRATION AND RISKS (Continued)

(c)

Revenue concentration risk

	Year ended December 31,
	2023				2024				2025
	RMB				RMB				RMB
Xiaomi		1,292,880	79	%		1,752,246	83	%		2,174,895	90	%

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

SUMMARY OF CASH AND CASH EQUIVALENTS (Details)
¥ in Thousands, $ in Thousands

Dec. 31, 2025

USD ($)

Dec. 31, 2025

CNY (¥)

Dec. 31, 2024

USD ($)

Dec. 31, 2024

CNY (¥)

Dec. 31, 2023

CNY (¥)

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

$ 115,342

¥ 806,599

¥ 1,026,188

¥ 206,405

RMB [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

642,729

$ 834,573

834,573

US Dollar [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

22,589

158,775

26,269

188,832

Others [Member]

^[1]

$ 107,755

¥ 5,095

$ 935

¥ 2,783

[1]	As of December 31, 2025, the other currencies consist of Hong Kong Dollar, Euro, Korean Won, Canadian Dollar and Singapore Dollar.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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SCHEDULE OF PRODUCT WARRANT ACTIVITIES (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Accrued Expenses And Other Liabilities
Standard Product Warranty Accrual	¥ 40,568	¥ 5,007
Provided during the year	67,450	88,889
Utilized during the year	(76,983)	(46,914)
Disposed during the year		(6,414)
Standard Product Warranty Accrual	¥ 31,035	¥ 40,568

SCHEDULE OF CURRENT AND DEFERRED COMPONENTS (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Income Tax Disclosure [Abstract]
Current tax expenses		¥ 11,295	¥ 21,686	¥ 11,544
Deferred tax expenses (benefit)	$ 195	1,363	(4,773)	2,044
Income tax expenses	$ 1,810	¥ 12,658	¥ 16,913	¥ 13,588

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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SUMMARY OF COMPONENTS OF LEASE EXPENSE

LEASES (Tables)

12 Months Ended

Dec. 31, 2025

Leases

	2024		2025
	Year ended December 31,
	2024		2025
	RMB		RMB
Lease cost
Operating lease expense		2,193		2,147
Short-term lease expense ⁽ⁱ⁾		1,147		340
Total lease cost		3,340		2,487

SUMMARY OF SUPPLEMENTAL CASH FLOW INFORMATION FOR LEASES

Supplemental cash flow information for leases was as follows:

	2024		2025
	Year ended December 31,
	2024		2025
	RMB		RMB
Operating cash flows relating to operating leases		1,991		1,949
Lease liabilities arising from obtaining right-of-use assets		2,568		1,006

SUMMARY OF AGGREGATE FUTURE MINIMUM RENTAL PAYMENTS UNDER NON-CANCELABLE AGREEMENT

As of December 31, 2025, the aggregate future minimum rental payments under non-cancelable agreement were as follows:

	RMB
2026		1,356
2027		304
2028		131
Total future minimum rental payment		1,791
Less amount representing imputed interest		(60	)
Present value of future minimum rental payments		1,731
Less current portion, recorded in other current liabilities		1,310
Long-term lease liabilities, recorded in other long-term liabilities		421

SHORT-TERM INVESTMENTS (Details Narrative) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Cash and Cash Equivalents [Abstract]
Short-term investments	$ 11,811	¥ 82,598	¥ 72,500

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Tables)

12 Months Ended

Dec. 31, 2025

Condensed Financial Information Disclosure [Abstract]

SUMMARY OF CONDENSED PARENT COMPANY BALANCE SHEETS

CONDENSED PARENT COMPANY BALANCE SHEETS

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
ASSETS
Cash and cash equivalents		164,583			2,918
Short-term investments		-			2,667
Amounts due from Group companies		542,635			501,851
Investments in subsidiaries/VIEs		696,911			471,430
Other assets		132,063			660,149
Total assets		1,536,192			1,639,015

Liabilities
Accounts and notes payable		-			863
Accrued expenses and other liabilities		3,254			4,608
Amounts due to Group companies		88,497			106,881
Total Liabilities		91,751			112,352
Shareholders’ equity
Class A Ordinary Shares (US$0.00001 par value; 4,800,000,000 shares authorized; 101,059,544 and 99,200,641 shares issued and outstanding as of December 31, 2024 and December 31, 2025, respectively)		6			6
Class B Ordinary Shares (US$0.00001 par value; 150,000,000 shares authorized; 102,764,550 and 102,764,548 shares issued and outstanding as of December 31, 2024 and December 31, 2025, respectively)		6			6
Common stock value		6			6
Treasury stock		(85,426	)		(103,085	)
Additional paid-in capital		1,376,730			1,403,419
Retained earnings		153,125			226,317
Total equity attributable to shareholders of the Company		1,444,441			1,526,663
Total liabilities and shareholders’ equity		1,536,192			1,639,015

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)

26.

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Continued)

CONDENSED PARENT COMPANY STATEMENTS OF OPERATIONS

	2023			2024			2025
	Year ended December 31,
	2023			2024			2025
	RMB			RMB			RMB
Operating expenses
General and administrative expenses		(5,072	)		(5,768	)		(4,582	)
Total operating expenses		(5,072	)		(5,768	)		(4,582	)
Other expenses		-			-			(310	)
Equity in (loss) gain of subsidiaries/VIEs		(74,290	)		78,525			127,470
(Loss) Income from operations		(79,362	)		72,757			122,578
Interest and investment (expenses) income, net		(7,006	)		(7,932	)		19,066
Other non-operating income		3,164			-			-
(Loss) Income before income tax expenses		(83,204	)		64,825			141,644
Income tax expenses		-			-			-
Net (loss) income		(83,204	)		64,825			141,644
Net (loss) income from discontinued operations attributable to the Company		(1,470	)		(1,411	)		-
Net (loss) income attributable to ordinary shareholders of the Company		(84,674	)		63,414			141,644

CONDENSED PARENT COMPANY STATEMENTS OF CASH FLOWS

	2023			2024			2025
	Year ended December 31,
	2023			2024			2025
	RMB			RMB			RMB
Net cash (used in) provided by operating activities		(93,378	)		274,797			111,820
Net cash provided by (used in) by investing activities		21,245			(58,936	)		(122,020	)
Net cash used in financing activities		(6,421	)		(82,790	)		(148,551	)
Effect of exchanges rates on cash and cash equivalents		1,122			18,169			(2,914	)
Net (decrease) increase in cash and cash equivalents and restricted cash		(77,432	)		151,240			(161,665	)
Cash and cash equivalents at the beginning of the year		90,775			13,343			164,583
Cash and cash equivalents at the end of the year		13,343			164,583			2,918

SCHEDULE OF PRINCIPAL SUBSIDIARIES AND VIES (Details)	Dec. 31, 2025
Subsidiaries [Member] \| Viomi HK [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of beneficial ownership	100.00%
Subsidiaries [Member] \| Lequan [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of beneficial ownership	100.00%
Subsidiaries [Member] \| Codream H K [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of beneficial ownership	100.00%
Subsidiaries [Member] \| Yunmi Hulian [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of beneficial ownership	100.00%
Subsidiaries [Member] \| Zhumeng Hulian [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of beneficial ownership	100.00%
Subsidiaries [Member] \| Guangdong Lizi [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of beneficial ownership	100.00%
Variable Interest Entity, Primary Beneficiary [Member] \| Guangzhou Interconnect [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of beneficial ownership	100.00%
Variable Interest Entity, Primary Beneficiary [Member] \| Beijing Viomi [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of beneficial ownership	100.00%

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Current assets
Cash and cash equivalents	$ 115,342	¥ 806,599	¥ 1,026,188
Restricted cash	23,513	164,431	141,292
Short-term deposits	36,886	257,950	115,014
Short-term investments	11,811	82,598	72,500
Other receivables from related parties (net of allowance of RMB1 and nil as of December 31, 2024 and December 31, 2025, respectively)	29	200	11,234
Inventories, net	18,143	126,879	112,325
Prepaid expenses and other current assets	22,470	157,096	71,363
Total current assets	280,346	1,960,461	2,165,242
Non-current assets
Prepaid expenses and other non-current assets	2,725	19,055	18,053
Prepaid expenses and other non-current assets	43,676	305,432	315,309
Long-term deposits	2,874	20,101
Deferred tax assets	1,203	8,415	9,698
Intangible assets, net	894	6,255	8,524
Right-of-use assets, net	235	1,646	3,382
Land use rights, net	8,098	56,631	57,904
Long-term investment	1,852	12,952	7,588
Long-term investment	61,557	430,487	420,458
Total assets	341,903	2,390,948	2,585,700
Current liabilities
Accounts and notes payable (including accounts and notes payable of the consolidated variable interest entities and their subsidiaries (“VIEs”) without recourse to the Company of RMB4,320 and RMB26 as of December 31, 2024 and 2025, respectively)	74,056	517,878	772,151
Advances from customers	1,452	10,153	11,537
Amount due to related parties	85	596	835
Accrued expenses and other liabilities (including accrued expenses and other liabilities of the consolidated VIEs without recourse to the Company of RMB1,046 and RMB5,853 as of December 31, 2024 and 2025, respectively)	22,457	157,043	168,127
Short-term borrowing	5,720	40,000	50,000
Income tax payables	206	1,439	9,736
Lease liabilities due within one year	187	1,310	2,037
Long-term borrowing-current portion	3,584	25,061	29,300
Total current liabilities	107,747	753,480	1,043,723
Non-current liabilities
Accrued expenses and other liabilities – non-current portion	7,596	53,117	14,492
Long-term borrowing	7,388	51,666	75,945
Lease liabilities	60	421	1,783
Total non-current liabilities	15,044	105,204	92,220
Total liabilities	122,791	858,684	1,135,943
Commitments and contingencies (Note 23)
Shareholders’ equity
Treasury stock		(103,085)	(85,426)
Additional paid-in capital		1,414,499	1,374,451
Retained earnings		226,317	153,125
Accumulated other comprehensive income (loss)		(11,080)	2,279
Total equity attributable to shareholders of the Company	218,311	1,526,663	1,444,441
Non-controlling interests	801	5,601	5,316
Total shareholders’ equity	219,112	1,532,264	1,449,757
Total liabilities and shareholders' equity	341,903	2,390,948	2,585,700
Common Class A [Member]
Shareholders’ equity
Common stock value	1	6	6
Common Class B [Member]
Shareholders’ equity
Common stock value	1	6	6
Treasury stock \| $	(14,741)
Additional paid-in capital \| $	202,271
Retained earnings \| $	32,363
Accumulated other comprehensive income (loss) \| $	(1,584)
Nonrelated Party [Member]
Current assets
Accounts receivable	3,508	24,535	24,105
Related Party [Member]
Current assets
Accounts receivable	$ 48,644	340,173	591,221
Current liabilities
Amount due to related parties		¥ 596	¥ 835

ORGANIZATION AND PRINCIPAL ACTIVITIES (Details Narrative) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2025	Jul. 19, 2024	Nov. 30, 2020	Jul. 15, 2015	May 31, 2014
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Entity incorporation date	2015-01
Lequan [Member] \| Subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of annual service fee to be received on annual net income				100.00%
Guangzhou Interconnect [Member] \| Subsidiaries [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of annual service fee to be received on annual net income				100.00%
Zhumeng Hulian and Beijing Viomi [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of annual service fee to be received on annual net income				100.00%
Mr. Chen [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Disposal of cash consideration		¥ 65,000
Mr. Chen [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Equity investments amount					¥ 7,500
Initial equity interest percent					60.00%
Tianjin Jinxing [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Equity investments amount					¥ 5,000
Initial equity interest percent					40.00%
Key Management Founders [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Equity investments amount					¥ 2,500
Sunglow Wealth H K Limited [Member] \| Guangdong Lizi Technology Company Limited [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Equity investments amount			¥ 175
Initial equity interest percent			1.00%

INVENTORIES, NET (Details Narrative) - CNY (¥) ¥ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventory written down	¥ 805	¥ 3,104

Consolidated Statements of Comprehensive (Loss) Income ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Net revenues:
Total net revenues	$ 347,232	¥ 2,428,226	¥ 2,118,982	¥ 1,638,736
Cost of revenues	(259,288)	(1,813,226)	(1,570,276)	(1,116,720)
Gross profit	87,944	615,000	548,706	522,016
Operating expenses
Research and development expenses	(23,679)	(165,593)	(142,884)	(148,879)
Selling and marketing expenses	(39,708)	(277,681)	(211,173)	(214,610)
General and administrative expenses	(12,315)	(86,123)	(70,807)	(57,346)
Total operating expenses	(75,702)	(529,397)	(424,864)	(420,835)
Other income, net	6,142	42,951	32,492	8,887
Income from operations	18,384	128,554	156,334	110,068
Interest income and short-term investment income, net	3,794	26,533	5,264	16,831
Other non-operating income (loss)	(71)	(500)		3,164
Income before income tax expenses	22,107	154,587	161,598	130,063
Income tax expenses	(1,810)	(12,658)	(16,913)	(13,588)
Net income from continuing operations	20,297	141,929	144,685	116,475
Net loss from discontinued operations			(82,341)	(205,808)
Net (loss) income	20,297	141,929	62,344	(89,333)
Less: Net (loss) income attributable to the non-controlling interest shareholders	41	285	(1,070)	(4,659)
Net (loss) income attributable to ordinary shareholders of the Company	20,256	141,644	63,414	(84,674)
Net income from continuing operations attributable to ordinary shareholders of the Company	20,256	141,644	144,364	116,768
Net loss from discontinued operations attributable to ordinary shareholders of the Company			(80,950)	(201,442)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment	(1,910)	(13,359)	16,607	10,007
Total comprehensive (loss) income attributable to ordinary shareholders of the Company	$ 18,346	¥ 128,285	¥ 80,021	¥ (74,667)
Net (loss) income per share attributable to ordinary shareholders of the Company
-Basic \| (per share)	$ 0.10	¥ 0.69	¥ 0.31	¥ (0.41)
Continuing Operations \| (per share)	0.10	0.69	0.70	0.57
Discontinued Operations \| (per share)	(0)		(0.39)	(0.98)
-Diluted \| (per share)	0.10	0.67	0.31	(0.41)
Continuing Operations \| (per share)	0.10	0.67	0.70	0.56
Discontinued Operations \| (per share)			¥ (0.39)	¥ (0.97)
Weighted average number of ordinary shares used in calculating net (loss) income per share
Continuing Operations	203,997,871	203,997,871	204,787,786	206,387,105
Discontinued Operations			204,787,786	206,387,105
Continuing Operations	210,920,493	210,920,493	206,690,917	207,667,763
Discontinued Operations			206,690,917	207,667,763
Related Party [Member]
Net revenues:
Total net revenues	$ 316,711	¥ 2,214,789	¥ 1,819,098	¥ 1,292,880
Operating expenses
Selling and marketing expenses \| ¥		(58,455)	(20,799)	(25,308)
Nonrelated Party [Member]
Net revenues:
Total net revenues	$ 30,521	¥ 213,437	¥ 299,884	¥ 345,856

SHORT-TERM INVESTMENTS

12 Months Ended

Dec. 31, 2025

Cash and Cash Equivalents [Abstract]

SHORT-TERM INVESTMENTS

7.	SHORT-TERM INVESTMENTS

Short-term investments mainly represent company securities and structured deposits. Short-term investments balance as of December 31, 2024 and 2025 is denominated in RMB, amounted to RMB72,500 and RMB82,598, respectively.

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)

SUMMARY OF COMPONENTS OF LEASE EXPENSE (Details) - CNY (¥)
¥ in Thousands

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Lease cost

Operating lease expense

¥ 2,147

¥ 2,193

Short-term lease expense

^[1]

340

1,147

Total lease cost

¥ 2,487

¥ 3,340

[1]	Includes leases with a term of one year or less.

SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE FOR LAND USE RIGHTS (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Land Use Right Net
2026		¥ 1,273
2027		1,273
2028		1,273
2029		1,273
2030		1,273
Thereafter		50,266
Land use right, net	$ 8,098	¥ 56,631	¥ 57,904

SCHEDULE OF FUTURE MATURITIES OF LONG-TERM BORROWINGS (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Debt Disclosure [Abstract]
2026	¥ 25,061
2027	24,959
2028	24,959
2029	1,180
2030	568
Total long-term borrowings	¥ 76,727	¥ 105,245

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

Cash and Cash Equivalents [Abstract]

CASH AND CASH EQUIVALENTS

12 Months Ended

Dec. 31, 2025

CASH AND CASH EQUIVALENTS

5.	CASH AND CASH EQUIVALENTS

SUMMARY OF CASH AND CASH EQUIVALENTS

	Amount		RMB equivalent		Amount		RMB equivalent
	As of December 31, 2024				As of December 31, 2025
	Amount		RMB equivalent		Amount		RMB equivalent
RMB		834,573		834,573		642,729		642,729
US$		26,269		188,832		22,589		158,775
Others (i)		935		2,783		107,755		5,095
Cash and cash equivalents				1,026,188				806,599

(i)

As of December 31, 2025, the other currencies consist of Hong Kong Dollar, Euro, Korean Won, Canadian Dollar and Singapore Dollar.

SUMMARY OF COMPENSATION EXPENSE RECOGNIZED FOR SHARE-BASED AWARDS (Details) - CNY (¥)
¥ in Thousands

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

—Share options

^[1]

¥ 14,080

¥ 16,450

¥ 106

[1]	Share options

SEGMENT REPORTING

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

SEGMENT REPORTING

14.	SEGMENT REPORTING

The Group derives revenue by developing and selling Home water solution businesses products in the PRC. The Group operates as one operating and reportable segment and its sole business activity consists of the design, development, manufacturing and marketing of Home water solution businesses products. The Group provides Home water solution businesses products mainly to its customers in the PRC and manages its business activities on a consolidated basis.

The accounting policies of the segment are the same as those described in Note “2. Summary of Significant Accounting Policies”. The Company’s CODM uses net income to measure segment profit or loss and assesses performance against expectations to make resource allocation decisions. Additionally, the CODM reviews and uses functional expenses included in net income to manage the Group’s operations and assess operating profitability. The Group operates as one operating and reportable segment, and as such the significant segment expenses regularly provided to the CODM are those presented on the consolidated statements of comprehensive (loss) income. These significant segment expenses include cost of revenue, research and development, selling and marketing, and general and administrative expenses. Other segment items that are presented on the consolidated statements of comprehensive (loss) income include other income, net, interest and investment income, net, and other non-operating income (loss), income tax expenses. The Group’s entity-wide disclosures, including the breakout of revenue between products are included in Note “15. Revenue”.

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)

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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SCHEDULE OF ACTIVITY IN ALLOWANCE FOR CREDIT LOSSES RELATED TO ACCOUNTS AND NOTES RECEIVABLE AND OTHER RECEIVABLES FROM RELATED PARTIES (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Accounting Policies [Abstract]
Balance at beginning of the year	¥ 10,965	¥ 16,631
Current year provision	1,522	264
Reversals	(2,810)	(4,624)
Write off	(2,927)	(1,306)
Balance at end of the year	¥ 6,750	¥ 10,965

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2025

SCHEDULE OF DISCONTINUED OPERATIONS

The following tables set forth the statements of operations and cash flows of discontinued operations which were included in the Group’s consolidated financial statements for the years ended December 31, 2023 and 2024 (in thousands):

SCHEDULE OF DISCONTINUED OPERATIONS

	2023			2024
	For the year ended December 31,
	2023			2024
	RMB			RMB
Net revenues:
A related party		24,434			5,821
Third parties		830,216			293,050
Net revenues		830,216			293,050
Total net revenues		854,650			298,871
Cost of revenues		(807,146	)		(297,289	)
Gross profit		47,504			1,582
Operating expenses:
Research and development expenses		(74,032	)		(41,245	)
Selling and marketing expenses		(187,156	)		(54,681	)
General and administrative expenses		(24,162	)		(7,667	)

Total operating expenses		(285,350	)		(103,593	)

Other income, net		8,623			4,320

Loss from operations		(229,223	)		(97,691	)

Interest and investment income, net		13,062			3,846
Other non-operating loss		(1,500	)		-
Loss before income tax expenses		(217,661	)		(93,845	)
Income tax credits		11,853			11,504
Net loss from discontinued operations		(205,808	)		(82,341	)

	2023			2024
	For the year ended December 31,
	2023			2024
	RMB			RMB
Net cash (used in) provided by discontinued operating activities		(144,547	)		135,033
Net cash provided by discontinued investing activities		92,023			136,918
Net cash provided by (used in) discontinued financing activities		100,000			(30,000	)

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Condensed Financial Information Disclosure [Abstract]

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

12 Months Ended

Dec. 31, 2025

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

26.

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

Pursuant to the requirements of Rule 12-04(a), 5-04(c) and 4-08(e)(3) of Regulation S-X, the condensed financial information of the parent company shall be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. The Group performed a test on the restricted net assets of consolidated subsidiaries in accordance with such requirement and concluded that it was applicable to the Company as the restricted net assets of the Company’s PRC subsidiaries exceeded 25% of the consolidated net assets of the Company. Therefore, the condensed financial statements for the parent company are included herein.

For purposes of the above test, restricted net assets of consolidated subsidiaries shall mean that amount of the Company’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of a third party.

The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries. Such investment is presented on the condensed balance sheets as “Investment in subsidiaries/VIEs” and the respective profit or loss as “Equity in (loss) gain of subsidiaries/VIEs” on the condensed statements of operations.

The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S GAAP have been condensed or omitted.

The Company did not pay any dividend for the periods presented. As of December 31, 2024 and 2025, there were no material contingencies, significant provisions for long-term obligations, or guarantees of the Company, except for those which have been separately disclosed in the consolidated financial statements, if any.

CONDENSED PARENT COMPANY BALANCE SHEETS

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
ASSETS
Cash and cash equivalents		164,583			2,918
Short-term investments		-			2,667
Amounts due from Group companies		542,635			501,851
Investments in subsidiaries/VIEs		696,911			471,430
Other assets		132,063			660,149
Total assets		1,536,192			1,639,015

Liabilities
Accounts and notes payable		-			863
Accrued expenses and other liabilities		3,254			4,608
Amounts due to Group companies		88,497			106,881
Total Liabilities		91,751			112,352
Shareholders’ equity
Class A Ordinary Shares (US$0.00001 par value; 4,800,000,000 shares authorized; 101,059,544 and 99,200,641 shares issued and outstanding as of December 31, 2024 and December 31, 2025, respectively)		6			6
Class B Ordinary Shares (US$0.00001 par value; 150,000,000 shares authorized; 102,764,550 and 102,764,548 shares issued and outstanding as of December 31, 2024 and December 31, 2025, respectively)		6			6
Common stock value		6			6
Treasury stock		(85,426	)		(103,085	)
Additional paid-in capital		1,376,730			1,403,419
Retained earnings		153,125			226,317
Total equity attributable to shareholders of the Company		1,444,441			1,526,663
Total liabilities and shareholders’ equity		1,536,192			1,639,015

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)

26.

CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Continued)

CONDENSED PARENT COMPANY STATEMENTS OF OPERATIONS

	2023			2024			2025
	Year ended December 31,
	2023			2024			2025
	RMB			RMB			RMB
Operating expenses
General and administrative expenses		(5,072	)		(5,768	)		(4,582	)
Total operating expenses		(5,072	)		(5,768	)		(4,582	)
Other expenses		-			-			(310	)
Equity in (loss) gain of subsidiaries/VIEs		(74,290	)		78,525			127,470
(Loss) Income from operations		(79,362	)		72,757			122,578
Interest and investment (expenses) income, net		(7,006	)		(7,932	)		19,066
Other non-operating income		3,164			-			-
(Loss) Income before income tax expenses		(83,204	)		64,825			141,644
Income tax expenses		-			-			-
Net (loss) income		(83,204	)		64,825			141,644
Net (loss) income from discontinued operations attributable to the Company		(1,470	)		(1,411	)		-
Net (loss) income attributable to ordinary shareholders of the Company		(84,674	)		63,414			141,644

CONDENSED PARENT COMPANY STATEMENTS OF CASH FLOWS

	2023			2024			2025
	Year ended December 31,
	2023			2024			2025
	RMB			RMB			RMB
Net cash (used in) provided by operating activities		(93,378	)		274,797			111,820
Net cash provided by (used in) by investing activities		21,245			(58,936	)		(122,020	)
Net cash used in financing activities		(6,421	)		(82,790	)		(148,551	)
Effect of exchanges rates on cash and cash equivalents		1,122			18,169			(2,914	)
Net (decrease) increase in cash and cash equivalents and restricted cash		(77,432	)		151,240			(161,665	)
Cash and cash equivalents at the beginning of the year		90,775			13,343			164,583
Cash and cash equivalents at the end of the year		13,343			164,583			2,918

LAND USE RIGHT, NET (Details Narrative) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Land Use Right Net
Amortization of land use rights	¥ 1,273	¥ 1,273	¥ 1,272

SCHEDULE OF AMORTIZATION OF FINITE-LIVED INTANGIBLE ASSETS ESTIMATED USEFUL LIVES (Details)	Dec. 31, 2025
Software and Software Development Costs [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Finite-lived intangible assets, Estimated useful lives	1 year
Software and Software Development Costs [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Finite-lived intangible assets, Estimated useful lives	10 years
License [Member]
Property, Plant and Equipment [Line Items]
Finite-lived intangible assets, Estimated useful lives	6 years

BORROWINGS (Details Narrative) ¥ in Thousands, $ in Thousands		12 Months Ended
	Mar. 08, 2021 CNY (¥)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)
Line of Credit Facility [Line Items]
Interest expenses for short-term borrowings		¥ 1,182	¥ 1,263
Annual weighted average interest rate for short-term borrowings			2.85%		2.83%	2.83%
Land use rights, net			¥ 57,904		$ 8,098	¥ 56,631
Interest expense, borrowings		¥ 2,590	¥ 4,262
Asset Pledged as Collateral [Member] \| Line of Credit [Member]
Line of Credit Facility [Line Items]
Net book value of building properties						233,289
Minimum [Member]
Line of Credit Facility [Line Items]
Interest rate		2.75%
Maximum [Member]
Line of Credit Facility [Line Items]
Interest rate		2.90%
Line of Credit [Member]
Line of Credit Facility [Line Items]
Proceeds from long-term lines of credit	¥ 310,000	¥ 193,489
Total loan amount repaid		¥ 116,762
Outstanding balance of long-term borrowings						76,727
Unutilized lines of credit						¥ 116,511
Capitalized interest expense				¥ 5,031

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

3.	DISCONTINUED OPERATIONS

Disposal of Foshan Viomi and its subsidiaries

On July 19, 2024, the Group entered into definitive agreements with Mr. Chen, and an entity controlled by Mr. Chen (Refer to Note 1). Accordingly, the assets and liabilities of Foshan Viomi and its subsidiaries were classified as “Assets held for sale” and “Liabilities held for sale” within current and non-current assets and liabilities, respectively, on the consolidated balance sheets as of December 31, 2023. The results of operations of Foshan Viomi and its subsidiaries have been reclassified to “net loss from discontinued operations” in the consolidated statements of comprehensive (loss) income for the years ended December 31, 2023 and 2024.

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)

3.	DISCONTINUED OPERATIONS (Continued)

SCHEDULE OF DISCONTINUED OPERATIONS

	2023			2024
	For the year ended December 31,
	2023			2024
	RMB			RMB
Net revenues:
A related party		24,434			5,821
Third parties		830,216			293,050
Net revenues		830,216			293,050
Total net revenues		854,650			298,871
Cost of revenues		(807,146	)		(297,289	)
Gross profit		47,504			1,582
Operating expenses:
Research and development expenses		(74,032	)		(41,245	)
Selling and marketing expenses		(187,156	)		(54,681	)
General and administrative expenses		(24,162	)		(7,667	)

Total operating expenses		(285,350	)		(103,593	)

Other income, net		8,623			4,320

Loss from operations		(229,223	)		(97,691	)

Interest and investment income, net		13,062			3,846
Other non-operating loss		(1,500	)		-
Loss before income tax expenses		(217,661	)		(93,845	)
Income tax credits		11,853			11,504
Net loss from discontinued operations		(205,808	)		(82,341	)

	2023			2024
	For the year ended December 31,
	2023			2024
	RMB			RMB
Net cash (used in) provided by discontinued operating activities		(144,547	)		135,033
Net cash provided by discontinued investing activities		92,023			136,918
Net cash provided by (used in) discontinued financing activities		100,000			(30,000	)

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)

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

INCOME TAX EXPENSES (Details Narrative) ¥ in Thousands	4 Months Ended	8 Months Ended	12 Months Ended
INCOME TAX EXPENSES (Details Narrative) ¥ in Thousands	Apr. 30, 2021	Dec. 31, 2021	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 HKD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Income tax rate			25.00%	25.00%	25.00%	25.00%
Uncertain tax positions \| ¥			¥ 0		¥ 0
Hong Kong Income Tax Within Two Million [Member]
Operating Loss Carryforwards [Line Items]
Investment company tax return of capital distribution \| $				$ 2
Hong Kong Income Tax Beyond Two Million [Member]
Operating Loss Carryforwards [Line Items]
Investment company tax return of capital distribution \| $				$ 2
HONG KONG \| Hong Kong Income Tax Within Two Million [Member]
Operating Loss Carryforwards [Line Items]
Income tax rate			8.25%	8.25%
HONG KONG \| Hong Kong Income Tax Beyond Two Million [Member]
Operating Loss Carryforwards [Line Items]
Income tax rate			16.50%	16.50%
CHINA
Operating Loss Carryforwards [Line Items]
Percentage of qualified research and development expenses enterprises are entitled to claim as additional tax deduction	75.00%	100.00%	50.00%	50.00%			50.00%
Withholding tax rate			10.00%	10.00%
Undistributed earnings available for distribution \| ¥					¥ 334,248
Statute of limitations year			3 years	3 years
Statute of limitations extended period			5 years	5 years
CHINA \| PRC and Hong Kong Special Administrative Region [Member]
Operating Loss Carryforwards [Line Items]
Withholding tax rate			5.00%	5.00%
CHINA \| Arrangement between PRC and Hong Kong Special Administrative Region on Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital [Member]
Operating Loss Carryforwards [Line Items]
Withholding tax rate			10.00%	10.00%
Minimum percentage of equity interests			25.00%	25.00%
CHINA \| Latest Tax Year [Member]
Operating Loss Carryforwards [Line Items]
Percentage of qualified research and development expenses enterprises are entitled to claim as additional tax deduction			75.00%	75.00%
CHINA \| New Technology Enterprises [Member]
Operating Loss Carryforwards [Line Items]
Income tax rate			15.00%	15.00%
CHINA \| Enterprise Income Tax [Member]
Operating Loss Carryforwards [Line Items]
Income tax rate			25.00%	25.00%
CHINA \| Subsidiaries And Variable Interest Entities And Predecessor Operations [Member]
Operating Loss Carryforwards [Line Items]
Income tax rate			25.00%	25.00%

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Cash flows from operating activities
Net (loss) income	$ 20,297	¥ 141,929	¥ 62,344	¥ (89,333)
Net loss from discontinued operations			82,341	205,808
Net loss from discontinued operations			82,341	205,808
Adjustment to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	6,024	42,127	28,978	36,941
Inventory write-down	56	390	(10,079)	9,363
Share-based compensation	2,013	14,080	16,450	106
Allowance (recovery of allowance) for credit losses	(184)	(1,288)	(4,359)	1,242
Loss of disposal of property and equipment	200	1,401	364	1,378
Deferred income tax expenses (benefits)	195	1,363	(4,773)	2,044
Investment loss (income)	1,457	10,189	(50)	462
Gain on early termination of right-of-use asset	(6)	(44)
Foreign currency exchange losses (gains), net	325	2,272	(225)
Changes in operating assets and liabilities:
Accounts and notes receivable from third parties	(46)	(321)	18,264	11,677
Accounts receivable from related parties	36,068	252,227	(588,030)	(4,370)
Inventories	(2,137)	(14,944)	55,057	13,841
Prepaid expenses and other current assets	(9,598)	(67,123)	22,497	(7,448)
Other receivables from related parties	1,578	11,034	452,950	5,217
Amounts due to related parties	(34)	(239)	(2,609)	1,089
Accounts and notes payable	(36,361)	(254,273)	454,697	(148,737)
Advances from customers	(198)	(1,384)	(18,296)	(7,102)
Income tax payables	(1,198)	(8,377)	8,088	1,124
Accrued expenses and other liabilities	3,972	27,774	8,666	12,667
Lease liabilities	(308)	(2,155)	(1,280)	(4,650)
Net cash provided by continuing operating activities	22,115	154,638	580,995	41,319
Net cash (used in) provided by discontinued operating activities			135,033	(144,547)
Net cash (used in) provided by operating activities	22,115	154,638	716,028	(103,228)
Cash flows from investing activities
Purchase of equipment	(5,886)	(41,164)	(28,606)	(103,372)
Purchase of lease hold improvement	(25)	(175)	(928)	(415)
Purchase of intangible assets	(47)	(330)		(653)
Purchase of short-term investments	(30,804)	(215,416)	(87,430)	(39,694)
Maturity of short-term investments	27,640	193,291	34,241	28,973
Disposal of property and equipment	60	420	416	898
Placement of long-term investments	(572)	(4,000)
Placement of long-term deposits	(24,310)	(170,000)
Maturities of long-term deposits	21,450	150,000
Placement of short-term deposits	(121,225)	(847,737)	(406,828)	(176,686)
Maturities of short-term deposits	100,420	702,247	470,459
Cash receipt from disposals of discontinued operations			65,000
Cashout due to the unconsolidated of discontinued operations			(348,136)
Net cash used in continuing investing activities	(33,299)	(232,864)	(301,812)	(290,949)
Net cash provided by discontinued investing activities			136,918	92,023
Net cash used in investing activities	(33,299)	(232,864)	(164,894)	(198,926)
Cash flows from financing activities
Proceeds from exercise of vested share options	49	344	110	19
Receipt of borrowing	5,880	41,118	58,513	49,091
Repayment of borrowing	(11,388)	(79,636)	(59,998)	(27,128)
Dividend Paid	(6,000)	(41,959)
Purchase of non-controlling interests	(1,105)	(7,728)
Capital injection in subsidiaries from an investor or a non-controlling shareholder			1,000	115
Repurchase of ordinary shares	(2,525)	(17,659)	(4,283)	(6,440)
Net cash provided by (used in) continuing financing activities	(15,089)	(105,520)	(4,658)	15,657
Net cash provided by (used in) discontinued financing activities			(30,000)	100,000
Net cash provided by (used in) financing activities	(15,089)	(105,520)	(34,658)	115,657
Effect of exchange rate changes on cash and cash equivalents	(1,819)	(12,704)	14,649	9,643
Net (decrease) increase in cash and cash equivalents and restricted cash	(28,092)	(196,450)	531,125	(176,854)
Cash and cash equivalents and restricted cash at the beginning of the year	166,947	1,167,480	636,355	813,209
Cash and cash equivalents and restricted cash at the end of the year	138,855	971,030	1,167,480	636,355
Less: cash, cash equivalents and restricted cash held for sales at end of the year				(411,028)
Cash, cash equivalents and restricted cash of continuing operations, end of the year	138,855	971,030	1,167,480	225,327
Cash and cash equivalents of continuing operations at the end of the year	115,342	806,599	1,026,188	206,405
Restricted cash of continuing operations at the end of the year	23,513	164,431	141,292	18,922
Supplemental disclosures of cash flow information:
Cash paid for income tax, net	(2,954)	(20,657)	(2,226)	(187)
Cash paid for interest expense	(853)	(5,968)	(5,734)	(5,644)
Acquisition of equipment in form of other payable	375	2,624	40,183	50,158
Obtaining a right-of-use asset in exchange for a lease liability	144	1,006
Decrease in a right-of-use asset due to remeasurement of lease terms	$ 128	¥ 896

PROPERTY, PLANT, AND EQUIPMENT, NET (Details Narrative) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	¥ 35,239	¥ 22,882	¥ 24,077

Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥) shares	Dec. 31, 2024 CNY (¥) shares
Allowance for doubtful accounts receivable \| ¥		¥ 19
Accounts and notes payable	517,878	772,151
Accrued expenses and other liabilities-current portion	¥ 157,043	¥ 168,127
Common Class A [Member]
Common stock, shares authorized \| shares	4,800,000,000	4,800,000,000
Common stock, shares issued \| shares	99,200,641	101,059,544
Common stock, shares outstanding \| shares	99,200,641	101,059,544
Common Class B [Member]
Common stock, shares authorized \| shares	150,000,000	150,000,000
Common stock, shares issued \| shares	102,764,548	102,764,550
Common stock, shares outstanding \| shares	102,764,548	102,764,550
Variable Interest Entity, Primary Beneficiary [Member]
Accounts and notes payable \| ¥	¥ 26	¥ 4,320
Accrued expenses and other liabilities-current portion \| ¥	5,853	1,046
Nonrelated Party [Member]
Allowance for doubtful accounts receivable \| ¥	6,750	9,786
Related Party [Member]
Allowance for doubtful accounts receivable \| ¥		1,178
Allowance for doubtful other accounts receivable \| ¥		¥ 1

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2025

RELATED PARTY TRANSACTIONS

20.

RELATED PARTY TRANSACTIONS

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

The Group’s relationship with Xiaomi

Xiaomi is the Group’s strategic partner and shareholder.

The Group’s sales to Xiaomi are governed by a business cooperation agreement, pursuant to which Xiaomi is responsible for the distribution and sales of such products through their network and sales channels.

The Group also sells products through Xiaomi’s online e-commerce channel Xiaomiyoupin.com, and is charged of commissions pursuant to a commission sales agreement.

Transaction with Xiaomi

Business cooperation agreement

The current business corporation agreement entered into in 2024 with Xiaomi governs all the Group’s sales to Xiaomi. It will expire in September 2026.

Under the business cooperation agreement, (i) certain products sold to Xiaomi are exclusively designed for and can only be sold to Xiaomi, (ii) Xiaomi shall purchase these products at a price that covers all of the Group’s costs of raw materials, outsourcing manufacture, models, logistics and paid intellectual property licensing fees, in connection with the manufacture and delivery of these products, and (iii) Xiaomi and the Group shall share gross profits, derived from sales of these products, the retail prices of which were set by Xiaomi and the Group together.

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)

Youpin commission sales agreement

The Group has entered into a commission sales agreement with Xiaomi for the sale of the Group’s own branded products on an E-platform operated by Xiaomi, namely Youpin. The commission sales agreement expired on December 31, 2023. The agreement has been renewed in 2024 and it has become non-fixed-term agreement since then. Furthermore, this agreement may be terminated by Xiaomi with 30 days’ written notice.

Under the commission sales agreement, the Group shall pay a service fee, calculated as certain portion of the sales price excluding customers’ refunds or as otherwise agreed by the parties with respect to specific product lines, as well as a deposit to Xiaomi. The retail prices of the Group’s products on Youpin’s platform shall be no higher than the sales price from any other e-commerce merchants or the Group’s official offline sales channel, including in the event of sales or promotion.

Transaction with Mr. Xiaoping Chen

On July 19, 2024, to implement its focus strategy for the Home water solution businesses, the Group entered into definitive agreement with Mr. Xiaoping Chen and Zhuhai Yungui Enterprise Management Consulting Limited Partnership, an entity controlled by Mr. Chen (“Zhuhai Yungui”) (together with Mr. Xiaoping Chen, “Buyer”), to divest the Company’s business involving Internet-of-things-enabled (“IoT-enabled”) smart home portfolio products for a total consideration of RMB65 million in cash. The transaction was closed on August 31, 2024.

Transactions with Foshan Viomi

The Group sells water purifiers and other products to and purchases raw materials from Foshan Viomi. In addition, The Group leases its office premises to Foshan Viomi, and the Group also engages Foshan Viomi for other services such as transportation services, maintenance services as well as installation services etc.

SUMMARY OF RELATED PARTY TRANSACTIONS

(1)

Amount due from/to related parties

	2024		2025
	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
Accounts receivable from a related party		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
Other receivables from related parties		11,234		200

Amounts due to related parties:
Purchase and other payable to Xiaomi^(a)		835		596
Total		835		596
Amounts due to related parties		835		596

(2)

Purchase from related parties

	2023		2024		2025
	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
Purchase from related parties		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

	2023		2024		2025
	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
Revenue from related parties		1,292,880		1,819,098		2,214,789

(4)

Research and development expenses

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Xiaomi^(a)		716		273		-
Research and development expenses		716		273		-

(5)

Selling and marketing expenses

	2023		2024		2025
	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
Selling and marketing expenses		25,308		20,799		58,455

(6)

Other income and expenses

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

(a)

	(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.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 5
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2025

SHARE-BASED COMPENSATION

18.	SHARE-BASED COMPENSATION

Compensation expense recognized for share-based awards was as follows:

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Share-based compensation expenses
—Share options^(a)		106		16,450		14,080

(a)

Share options

On September 17, 2015, the Board of Directors of the Company approved the establishment of 2015 Share Incentive Plan, the purpose of which is to provide an incentive for employees contributing to the Group. The 2015 Share Incentive Plan shall be valid and effective for 10 years from the grant date. The maximum number of shares that may be issued pursuant to all awards (including incentive share options) under 2015 Share Incentive Plan shall be 12,727,272 shares.

In June 2018, the Board of Directors and shareholders of the Company approved the 2018 Share Incentive Plan. As of December 31, 2025, the maximum of shares that may be issued under the 2018 Share Incentive Plan was 32,148,434.

For the year ended December 31, 2023, the Company didn’t grant share options to employees pursuant to the 2018 Share Incentive Plan.

For the year ended December 31, 2024, the Company granted 11,920,000 share options to employees pursuant to the 2018 Share Incentive Plan. Among which, with respect to the share options granted, 40% of the options will be vested after 24 months of the vesting commencement date and the remaining 60% will be vested in three equal installments over the following 36 months.

For the year ended December 31, 2025, the Company granted 4,880,000 share options to employees pursuant to the 2018 Share Incentive Plan. Among which, with respect to the share options granted, 40% of the options will be vested after 24 months of the vesting commencement date and the remaining 60% will be vested in three equal installments over the following 36 months.

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)

18.

SHARE-BASED COMPENSATION (Continued)

	Year ended December 31,
	2024			2025
Risk-free interest rate		3.90%-4.38	%		4.35%-4.40	%
Expected volatility		59.20%-59.21	%		60.31%-61.13	%
Expected life of option (years)		20			20
Expected dividend yield		-			-
Fair value per ordinary share		0.13-0.53			0.45-1.01

(1)

Risk-free interest rate

Risk-free interest rate was estimated based on the yield to maturity of US Treasury Strip with a maturity period close to the contractual term of the options.

(2)

Expected life of option (years)

Expected life of option (years) represents the expected years from the measurement date to the expiration date of the option.

(3)

Volatility

The volatility of the underlying ordinary shares during the life of the options was estimated based on the historical stock price volatility of comparable listed companies over a period comparable to the contractual term of the options.

(4)

Dividend yield

The dividend yield was estimated by the Group based on its expected dividend policy over the contractual term of the options.

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)

18.

SHARE-BASED COMPENSATION (Continued)

A summary of the stock option activity under the 2015 Share Incentive Plan and 2018 Share Incentive Plan for the years ended December 31, 2023, 2024, and 2025 is included in the table below.

SUMMARY OF STOCK OPTION ACTIVITY

	Number of options			Weighted average exercise price (US$)		Weighted average remaining contractual life (years)		Aggregate intrinsic value (US$)
Outstanding at December 31, 2022		19,742,616			0.81		6.49		22,974
Granted
Forfeited		(5,047,307	)		0.78
Exercised		(176,883	)		0.03
Outstanding at December 31, 2023		14,518,426			0.83		5.58		15,553
Granted		11,920,000			0.11
Forfeited		(1,642,047	)		0.54
Exercised		(355,543	)		0.04
Outstanding at December 31, 2024		24,440,836			0.51		11.43		19,794
Granted		4,880,000			0.11		-		-
Forfeited		(3,065,568	)		0.17		-		-
Exercised		(1,218,363	)		0.82		-		-
Outstanding at December 31, 2025		25,036,905			0.46		11.73		21,353
Exercisable as of December 31, 2025		11,366,907			0.82		3.48		12,840
Expected to vest as of December 31, 2025		13,557,594			0.15		18.59		8,328

The weighted average grant date fair value of options granted for the years ended December 31, 2024 and 2025 was RMB3.26 (US$0.45) per option and RMB6.56 (US$0.92) per option, respectively.

As of December 31, 2024 and 2025, there was RMB36,988 and RMB40,415 (US$5,658) of unrecognized compensation expenses related to the options, respectively.

(b)

Restricted shares to an investee

As described in Note 1, the Group established Guangdong Lizi in July 2018 as a subsidiary of the Company. In November 2020, following the Group’s restructuring plan on its water purifiers business, the Group entered into an agreement with Sunglow to sell 1% of equity interest of Guangdong Lizi for a consideration of RMB175. Sunglow has paid up the consideration in December 2021 but is not entitled to any shareholder’s rights of Guangdong Lizi until the fulfilment of certain conditions pursuant to the supplemental agreement in November 2021.

Under the requirement of ASC 718, the Group should recognize share-based compensation if there is a difference between the fair value of Guangdong Lizi’s 1% of equity interest and the consideration paid up by Sunglow on the date of capital injection. The Group calculated the estimated fair value of the options on the respective grant dates using the discounted cash flow model.

As of December 31, 2024, there were RMB10,284 of unrecognized compensation expenses related to restricted shares granted to Sunglow for which the performance conditions had not been met and are expected to be recognized when the performance conditions are achieved under the requirement of ASC718.

During 2025, Sunglow exited the arrangement. Accordingly, there will be no more unrecognized compensation expenses associated with restricted shares granted to Sunglow to be recognized in future periods.

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)

PROPERTY, PLANT, AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT, AND EQUIPMENT, NET

10.

PROPERTY, PLANT, AND EQUIPMENT, NET

Property, plant, and equipment, net consisted of the following:

	2024			2025
	As of December 31,
	2024			2025
	RMB			RMB
Buildings		258,910			258,910
Computers and equipment		140,465			171,989
Vehicle		2,692			3,038
Construction in progress		7,343			-
Total		409,410			433,937
Less: accumulated depreciation		(94,101	)		(128,505	)
Property, plant, and equipment, net		315,309			305,432

The Group had recorded depreciation expense of RMB24,077, RMB22,882 and RMB35,239 for the years ended December 31, 2023, 2024, and 2025, respectively. No impairment was recorded for the years ended December 31, 2023, 2024, and 2025.

In addition, the Group also pledged certain property, plant, and equipment for the Group’s long-term borrowings (See Note 12).

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)

NET INCOME PER SHARE

12 Months Ended

Dec. 31, 2025

Net (loss) income per share attributable to ordinary shareholders of the Company

NET INCOME PER SHARE

19.	NET INCOME PER SHARE

	2023		2024		2025
	Year ended December 31,
	2023		2024		2025
	RMB		RMB		RMB
Numerator:
Numerator for basic calculation - Net income attributable to ordinary shareholders of the Company from continuing operations		116,768		144,364		141,644

Denominator:
Denominator for basic calculation - weighted average ordinary shares outstanding		206,387,105		204,787,786		203,997,871
Dilutive effect of share options		1,280,658		1,903,131		6,922,622
Denominator for diluted calculation		207,667,763		206,690,917		210,920,493

Basic net income per ordinary share from continuing operations		0.57		0.70		0.69
Diluted net income per ordinary share from continuing operations		0.56		0.70		0.67

SUMMARY OF STOCK OPTION ACTIVITY (Details) - CNY (¥)	12 Months Ended
SUMMARY OF STOCK OPTION ACTIVITY (Details) - CNY (¥)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Number of options, Outstanding	24,440,836,000	14,518,426,000	19,742,616,000
Weighted average exercise price, Outstanding	¥ 0.51	¥ 0.83	¥ 0.81
Weighted-average remaining contractual life (years), Outstanding	11 years 8 months 23 days	11 years 5 months 4 days	5 years 6 months 29 days	6 years 5 months 26 days
Aggregate intrinsic value, Outstanding	¥ 19,794	¥ 15,553	¥ 22,974
Number of options, Forfeited	(3,065,568)	(1,642,047)	(5,047,307)
Weighted average exercise price, Forfeited	¥ 0.17	¥ 0.54	¥ 0.78
Number of options, Exercised	(1,218,363)	(355,543)	(176,883)
Weighted average exercise price, Exercised	¥ 0.82	¥ 0.04	¥ 0.03
Number of options, Granted	4,880,000	11,920,000
Weighted average exercise price, Granted	¥ 0.11	¥ 0.11
Number of options, Outstanding	25,036,905,000	24,440,836,000	14,518,426,000	19,742,616,000
Weighted average exercise price, Outstanding	¥ 0.46	¥ 0.51	¥ 0.83	¥ 0.81
Aggregate intrinsic value, Outstanding	¥ 21,353	¥ 19,794	¥ 15,553	¥ 22,974
Number of options, Exercisable	11,366,907
Weighted average exercise price, Exercisable	¥ 0.82
Weighted-average remaining contractual life (years), Exercisable	3 years 5 months 23 days
Aggregate intrinsic value, Exercisable	¥ 12,840,000
Number of options, Expected to vest	13,557,594
Weighted average exercise price, Expected to vest	¥ 0.15
Weighted-average remaining contractual life (years), Expected to vest	18 years 7 months 2 days
Aggregate intrinsic value, Expected to vest	¥ 8,328,000

Consolidated Statements of Changes in Shareholders' Equity ¥ in Thousands, $ in Thousands	Common Stock [Member] Common Class A [Member] CNY (¥) shares	Common Stock [Member] Common Class B [Member] CNY (¥) shares	Additional Paid-in Capital [Member] CNY (¥)	Treasury Stock, Common [Member] CNY (¥) shares	Retained Earnings [Member] CNY (¥)	AOCI Attributable to Parent [Member] CNY (¥)	Parent [Member] CNY (¥)	Noncontrolling Interest [Member] CNY (¥)	Common Class A [Member] shares	Common Class B [Member] shares	USD ($) shares	CNY (¥) shares
Balance at Dec. 31, 2022	¥ 6	¥ 6	¥ 1,357,397	¥ (74,703)	¥ 174,385	¥ (24,335)	¥ 1,432,756	¥ (3,593)				¥ 1,429,163
Balance, shares at Dec. 31, 2022 \| shares	104,539,463	102,854,550							104,539,463	102,854,550
Treasury stock, common, shares at Dec. 31, 2022 \| shares				8,523,708
Net income attributable to the Company and non-controlling interest shareholders					(84,674)		(84,674)	(4,659)				(89,333)
Share-based compensation related to 2015 and 2018 Share Incentive Plan			106				106					106
Foreign currency translation adjustment						10,007	10,007					10,007
Class B Ordinary shares converted to Class A Ordinary shares
Class B Ordinary shares converted to Class A Ordinary shares, shares \| shares	90,000	(90,000)								90,000
Issuance of ordinary shares for exercised share options			19				19					¥ 19
Issuance of ordinary shares for exercised share options, shares \| shares	176,883								176,883		176,883	176,883
Repurchase of ordinary shares				¥ (6,440)			(6,440)					¥ (6,440)
Repurchase of shares \| shares	(2,903,802)			(2,903,802)					(2,903,802)
Repurchase of shares \| shares	2,903,802			2,903,802					2,903,802
Capital injection in a subsidiary from a non-controlling interest shareholder			(3,888)				(3,888)	4,003				¥ 115
Cancellation of shares \| shares											5,047,307	5,047,307
Balance at Dec. 31, 2023	¥ 6	¥ 6	1,353,634	¥ (81,143)	89,711	(14,328)	1,347,886	(4,249)				¥ 1,343,637
Balance, shares at Dec. 31, 2023 \| shares	101,902,544	102,764,550							101,902,544	102,764,550
Treasury stock, common, shares at Dec. 31, 2023 \| shares				11,427,510
Net income attributable to the Company and non-controlling interest shareholders					63,414		63,414	(1,070)				62,344
Share-based compensation related to 2015 and 2018 Share Incentive Plan			16,450				16,450					16,450
Foreign currency translation adjustment						16,607	16,607					16,607
Issuance of ordinary shares for exercised share options			110				110					¥ 110
Issuance of ordinary shares for exercised share options, shares \| shares	355,542								355,542		355,543	355,543
Repurchase of ordinary shares				¥ (4,283)			(4,283)					¥ (4,283)
Repurchase of shares \| shares	(1,198,542)			(1,198,542)					(1,198,542)
Repurchase of shares \| shares	1,198,542			1,198,542					1,198,542
Capital injection in a subsidiary from a non-controlling interest shareholder								1,000				1,000
Disposal of discontinued operations			4,257				4,257	9,635				¥ 13,892
Cancellation of shares \| shares											1,642,047	1,642,047
Balance at Dec. 31, 2024	¥ 6	¥ 6	1,374,451	¥ (85,426)	153,125	2,279	1,444,441	5,316				¥ 1,449,757
Balance, shares at Dec. 31, 2024 \| shares	101,059,544	102,764,550							101,059,544	102,764,550
Treasury stock, common, shares at Dec. 31, 2024 \| shares				12,626,052
Net income attributable to the Company and non-controlling interest shareholders					141,644		141,644	285			$ 20,297	141,929
Share-based compensation related to 2015 and 2018 Share Incentive Plan			14,080				14,080					14,080
Foreign currency translation adjustment						(13,359)	(13,359)				$ (1,910)	(13,359)
Issuance of ordinary shares for exercised share options			7,203				7,203					¥ 7,203
Issuance of ordinary shares for exercised share options, shares \| shares	1,218,363								1,218,363		1,218,363	1,218,363
Repurchase of ordinary shares				¥ (17,659)			(17,659)					¥ (17,659)
Repurchase of shares \| shares	(3,077,262)			(3,077,262)					(3,077,262)
Repurchase of shares \| shares	3,077,262			3,077,262					3,077,262
Purchase of minor equity interests of a subsidiary			(7,728)				(7,728)					(7,728)
Appropriation to statutory reserves			26,493		(26,493)
Dividends declared					(41,959)		(41,959)					(41,959)
Cancellation of shares
Cancellation of shares \| shares	(4)	(2)									3,065,568	3,065,568
Balance at Dec. 31, 2025	¥ 6	¥ 6	¥ 1,414,499	¥ (103,085)	¥ 226,317	¥ (11,080)	¥ 1,526,663	¥ 5,601			$ 219,112	¥ 1,532,264
Balance, shares at Dec. 31, 2025 \| shares	99,200,641	102,764,548							99,200,641	102,764,548
Treasury stock, common, shares at Dec. 31, 2025 \| shares				15,703,314

SCHEDULE OF SHORT-TERM BORROWINGS (Details) (Parenthetical)
¥ in Thousands, $ in Thousands

Mar. 25, 2025

CNY (¥)

Jan. 08, 2025

CNY (¥)

Dec. 31, 2025

USD ($)

Dec. 31, 2025

CNY (¥)

Dec. 31, 2024

CNY (¥)

Short-term borrowing

$ 5,720

¥ 40,000

¥ 50,000

Maturity date

Mar. 26, 2026

Jan. 15, 2026

Bank of China [Member]

Industrial and Commercial Bank of China [Member]

Short-term borrowing

¥ 30,000

30,000

^[1]

30,000

^[1]

Short term debt term

one year

Fixed interest rate

2.85%

Short-term borrowing

¥ 10,000

^[2]

¥ 20,000

^[2]

Short term debt term

one year

Fixed interest rate

2.75%

[1]	On January 8, 2025, the Group entered into a loan agreement with Bank of China to borrow RMB30.0 million as working capital for one year. The loan was withdrawn on January 15, 2025 and as a maturity date in January 15, 2026. The loan has a fixed interest rate of 2.85% per annum. The loan was fully repaid upon maturity.
[2]	On March 25, 2025, the Group entered into a loan agreement with Industrial and Commercial Bank to borrow RMB10.0 million as working capital for one year, with a maturity date of March 26, 2026. These loans have a fixed interest rate of 2.75% per annum. The loan was fully repaid upon maturity.

SCHEDULE OF REVENUE (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Disaggregation of Revenue [Line Items]
Total	$ 347,232	¥ 2,428,226	¥ 2,118,982	¥ 1,638,736
Sale of Home Water Solutions [Member]
Disaggregation of Revenue [Line Items]
Total		1,686,566	1,498,368	1,077,858
Sale of Kitchen Appliances and Others [Member]
Disaggregation of Revenue [Line Items]
Total		484,565	337,177	214,279
Sale of Consumables [Member]
Disaggregation of Revenue [Line Items]
Total		235,388	277,704	324,738
Product [Member]
Disaggregation of Revenue [Line Items]
Total		2,406,519	2,113,249	1,616,875
Service [Member]
Disaggregation of Revenue [Line Items]
Total		¥ 21,707	¥ 5,733	¥ 21,861

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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-Section 55
-Paragraph 91
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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-Section 55
-Paragraph 91
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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-Section 55
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (g)
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-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2025

Subsequent Events [Abstract]

SUBSEQUENT EVENT

25.	SUBSEQUENT EVENT

On January 1, 2026, the Group entered into a loan agreement with Agricultural Bank of China to borrow RMB20.0 million as working capital for one year, with a maturity date of December 31, 2026. These loans have a fixed interest rate of 2.25% per annum.

On January 7, 2026, the Group entered into a loan agreement with Bank of China to borrow RMB10.0 million as working capital for one year. The loan was withdrawn on January 21, 2026 with a maturity date in January 21, 2027. The loan has a fixed interest rate of 2.30% per annum.

On March 25, 2026, the Company announced that its Board of Directors has approved a special cash dividend of US$0.022 per ordinary share on its outstanding shares to shareholders of record as of the close of trading on April 6, 2026. The special cash dividend has been paid in full as of the issuance date of the consolidated financial statements.

The Group has evaluated the impact of events that have occurred subsequent to December 31, 2025, through April 22, 2026, the issuance date of the consolidated financial statements, and concluded that no other subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements, except for the event as discussed above.

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)

SCHEDULE OF PROPERTY, PLANT, AND EQUIPMENT, NET (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Property, Plant and Equipment [Line Items]
Total		¥ 433,937	¥ 409,410
Less: accumulated depreciation		(128,505)	(94,101)
Property, plant, and equipment, net	$ 43,676	305,432	315,309
Building [Member]
Property, Plant and Equipment [Line Items]
Total		258,910	258,910
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total		171,989	140,465
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total		3,038	2,692
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total			¥ 7,343

SCHEDULE OF FINANCIAL STATEMENT AMOUNTS AND BALANCES OF VIES (Details)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2025

USD ($)

Dec. 31, 2025

CNY (¥)

Dec. 31, 2024

CNY (¥)

Dec. 31, 2023

CNY (¥)

Dec. 31, 2025

CNY (¥)

Accounts and notes payable

$ 115,342

¥ 1,026,188

¥ 206,405

¥ 806,599

Inventories

18,143

112,325

126,879

Total assets

341,903

2,585,700

2,390,948

74,056

772,151

517,878

Total liabilities

122,791

1,135,943

858,684

347,232

¥ 2,428,226

2,118,982

1,638,736

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

(259,288)

(1,813,226)

(1,570,276)

(1,116,720)

Related Party [Member]

Accounts receivable

48,644

591,221

340,173

Variable Interest Entity, Primary Beneficiary [Member]

$ 316,711

2,214,789

1,819,098

1,292,880

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Amounts due from Group companies

7,179

334,198

498,455

173,911

Inventories

Other assets

6,438

5,163

Total assets

512,202

513,340

Accounts and notes payable

4,320

Amounts due to Group companies

168

Accrued expenses and other liabilities

1,046

5,853

Other liabilities

186

1,305

Total liabilities

5,720

7,278

Net income (loss)

(411)

8,160

29,046

Variable Interest Entity, Primary Beneficiary [Member] | Group Companies [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

^[1]

1,528

49,679

23,344

Variable Interest Entity, Primary Beneficiary [Member] | Related Party And Third Party [Member]

(533,402)

(790,069)

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

170

903,402

1,433,072

Variable Interest Entity, Primary Beneficiary [Member] | Related Party [Member]

¥ (1,905)

(312,125)

¥ (350,185)

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Accounts receivable

¥ 62

[1]	Inter-company revenues between VIEs and other subsidiaries

LEASES (Details Narrative)	Dec. 31, 2025	Dec. 31, 2024
Leases
Operating leases, weighted average discount rate	4.75%	4.75%
Operating leases, weighted-average remaining lease term	1 year 4 months 24 days	2 years 3 months 18 days

SCHEDULE OF INVENTORIES (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Inventory Disclosure [Abstract]
Finished goods		¥ 105,315	¥ 80,853
Raw materials		21,564	31,472
Inventories, net	$ 18,143	¥ 126,879	¥ 112,325

SUMMARY OF CONDENSED PARENT COMPANY BALANCE SHEETS (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 USD ($) $ / shares	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Aug. 23, 2018 ¥ / shares shares
ASSETS
Cash and cash equivalents	$ 115,342				¥ 206,405	¥ 806,599	¥ 1,026,188
Short-term investments	11,811					82,598	72,500
Total assets	341,903					2,390,948	2,585,700
Liabilities
Accounts and notes payable	74,056					517,878	772,151
Total liabilities	122,791					858,684	1,135,943
Shareholders’ equity
Common stock par value \| ¥ / shares								¥ 0.00001
Common stock, shares authorized \| shares								50,000,000
Treasury stock						(103,085)	(85,426)
Additional paid-in capital						1,414,499	1,374,451
Retained earnings						226,317	153,125
Total equity attributable to shareholders of the Company	218,311					1,526,663	1,444,441
Total liabilities and shareholders' equity	341,903					2,390,948	2,585,700
Operating expenses
General and administrative expenses	(12,315)	¥ (86,123)		¥ (70,807)	(57,346)
Total operating expenses	(75,702)	(529,397)		(424,864)	(420,835)
Other expenses	6,142	42,951		32,492	8,887
Income from operations	18,384	128,554		156,334	110,068
Interest and investment (expenses) income, net	3,794	26,533		5,264	16,831
Other non-operating income	(71)	(500)			3,164
Income before income tax expenses	22,107	154,587		161,598	130,063
Income tax expenses	(1,810)	(12,658)		(16,913)	(13,588)
Net (loss) income attributable to ordinary shareholders of the Company	20,256	141,644		63,414	(84,674)
Net cash (used in) provided by operating activities	22,115	154,638		716,028	(103,228)
Net cash provided by (used in) by investing activities	(33,299)	(232,864)		(164,894)	(198,926)
Net cash used in financing activities	(15,089)	(105,520)		(34,658)	115,657
Effect of exchanges rates on cash and cash equivalents	(1,819)	(12,704)		14,649	9,643
Net (decrease) increase in cash and cash equivalents and restricted cash	(28,092)	(196,450)		531,125	(176,854)
Cash and cash equivalents and restricted cash at the beginning of the year	166,947	1,167,480		636,355	813,209
Cash and cash equivalents and restricted cash at the end of the year	138,855	971,030	$ 166,947	1,167,480	636,355
Common Class A [Member]
Shareholders’ equity
Common stock value	$ 1					¥ 6	¥ 6
Common stock par value \| (per share)	$ 0.00001		$ 0.00001					¥ 0.00001
Common stock, shares authorized \| shares	4,800,000,000					4,800,000,000	4,800,000,000	4,800,000,000
Common stock, shares issued \| shares	99,200,641					99,200,641	101,059,544
Common stock, shares outstanding \| shares	99,200,641					99,200,641	101,059,544
Common Class B [Member]
Shareholders’ equity
Common stock value	$ 1					¥ 6	¥ 6
Common stock par value \| (per share)	$ 0.00001		$ 0.00001					¥ 0.00001
Common stock, shares authorized \| shares	150,000,000					150,000,000	150,000,000	150,000,000
Common stock, shares issued \| shares	102,764,548					102,764,548	102,764,550
Common stock, shares outstanding \| shares	102,764,548					102,764,548	102,764,550
Treasury stock \| $	$ (14,741)
Additional paid-in capital \| $	202,271
Retained earnings \| $	$ 32,363
Parent Company [Member]
ASSETS
Cash and cash equivalents						¥ 2,918	¥ 164,583
Short-term investments						2,667
Amounts due from Group companies						501,851	542,635
Investments in subsidiaries/VIEs						471,430	696,911
Other assets						660,149	132,063
Total assets						1,639,015	1,536,192
Liabilities
Accounts and notes payable						863
Accrued expenses and other liabilities						4,608	3,254
Amounts due to Group companies						106,881	88,497
Total liabilities						112,352	91,751
Shareholders’ equity
Treasury stock						(103,085)	(85,426)
Additional paid-in capital						1,403,419	1,376,730
Retained earnings						226,317	153,125
Total equity attributable to shareholders of the Company						1,526,663	1,444,441
Total liabilities and shareholders' equity						1,639,015	1,536,192
Operating expenses
General and administrative expenses		(4,582)		(5,768)	(5,072)
Total operating expenses		(4,582)		(5,768)	(5,072)
Other expenses		(310)
Equity in (loss) gain of subsidiaries/VIEs		127,470		78,525	(74,290)
Income from operations		122,578		72,757	(79,362)
Interest and investment (expenses) income, net		19,066		(7,932)	(7,006)
Other non-operating income					3,164
Income before income tax expenses		141,644		64,825	(83,204)
Income tax expenses
Net (loss) income		141,644		64,825	(83,204)
Net (loss) income from discontinued operations attributable to the Company				(1,411)	(1,470)
Net (loss) income attributable to ordinary shareholders of the Company		141,644		63,414	(84,674)
Net cash (used in) provided by operating activities		111,820		274,797	(93,378)
Net cash provided by (used in) by investing activities		(122,020)		(58,936)	21,245
Net cash used in financing activities		(148,551)		(82,790)	(6,421)
Effect of exchanges rates on cash and cash equivalents		(2,914)		18,169	1,122
Net (decrease) increase in cash and cash equivalents and restricted cash		(161,665)		151,240	(77,432)
Cash and cash equivalents and restricted cash at the beginning of the year		164,583		13,343	90,775
Cash and cash equivalents and restricted cash at the end of the year		¥ 2,918		¥ 164,583	¥ 13,343
Parent Company [Member] \| Common Class A [Member]
Shareholders’ equity
Common stock value						¥ 6	¥ 6
Common stock par value \| ¥ / shares						¥ 0.00001	¥ 0.00001
Common stock, shares authorized \| shares	4,800,000,000					4,800,000,000	4,800,000,000
Common stock, shares issued \| shares	99,200,641					99,200,641	101,059,544
Common stock, shares outstanding \| shares							101,059,544
Parent Company [Member] \| Common Class B [Member]
Shareholders’ equity
Common stock value						¥ 6	¥ 6
Common stock par value \| ¥ / shares						¥ 0.00001	¥ 0.00001
Common stock, shares authorized \| shares	150,000,000					150,000,000	150,000,000
Common stock, shares issued \| shares	102,764,548					102,764,548	102,764,550
Common stock, shares outstanding \| shares	102,764,548					102,764,548	102,764,550

SCHEDULE OF RECONCILIATION INCOME TAX EXPENSES (Details)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2025

USD ($)

Dec. 31, 2025

CNY (¥)

Dec. 31, 2024

CNY (¥)

Dec. 31, 2023

CNY (¥)

Income Tax Disclosure [Abstract]

Income from operations in the PRC

¥ 157,704

¥ 177,311

¥ 126,692

Income (loss) from overseas entities

(3,117)

(15,713)

3,371

Income before income tax expenses

$ 22,107

154,587

161,598

130,063

Tax expense from overseas entities at PRC enterprise income tax rate

¥ 38,647

¥ 40,400

¥ 32,515

Tax expense from overseas entities at PRC enterprise income tax rate, percentage

25.00%

Effect of income tax in jurisdictions other than the PRC

¥ (3,759)

¥ (311)

¥ (2,625)

Effect of income tax in jurisdictions other than the PRC, percentage

(2.40%)

(0.20%)

(2.00%)

Income tax on tax holiday

^[1]

¥ (17,545)

¥ (20,298)

¥ (14,952)

Income tax on tax holiday, percentage

(11.30%)

(12.60%)

(11.50%)

Tax effect of permanent differences

^[2]

¥ (16,382)

¥ (13,572)

¥ (12,860)

Tax effect of permanent differences, percentage

(10.60%)

(8.40%)

(9.90%)

Change in valuation allowance

^[3]

¥ 9,585

¥ 8,227

¥ 11,494

Change in valuation allowance, percentage

6.20%

5.10%

8.80%

Effect of share-based compensation

¥ 2,112

¥ 2,467

¥ 16

Effect of share-based compensation, percentage

1.40%

1.50%

0.00%

Income tax expenses

$ 1,810

¥ 12,658

¥ 16,913

¥ 13,588

Income tax expenses, percentage

8.30%

10.40%

[1]	The income tax on tax holidays represents the effect of preferential income tax rate enjoyed by Guangdong Lizi and Yunmi Hulian. Guangdong Lizi applied for HNTE qualification renewal in 2023. It entitled to enjoy the preferential tax rate of 15% as an HNTE for three years starting from 2023 and should apply for HNTE qualification renewal in 2026. Yunmi Hulian applied for the HNTE qualification and obtained approval in December 2021. It is entitled to enjoy the preferential tax rate of 15% as an HNTE for three years starting from 2022, and its HNTE status ceased at the end of 2023.
[2]	The permanent book-tax differences mainly consisted of R&D super deductions.
[3]	Valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Group considered factors including future taxable income exclusive of reversing temporary differences and tax loss carry forwards. Valuation allowance for the years ended December 31, 2023, 2024, and 2025 were provided for net operating loss carry forward of certain group entities which reported loss because it was more likely than not that such deferred tax assets would not be realized based on the Group’s estimate of their future taxable income. If events occur in the future that allow the Group to realize more of its deferred income tax than the presently recorded amounts, an adjustment to the valuation allowances will result in a decrease in tax expense when those events occur.

SUMMARY OF RELATED PARTY TRANSACTIONS (Details)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2025

USD ($)

Dec. 31, 2025

CNY (¥)

Dec. 31, 2024

CNY (¥)

Dec. 31, 2023

CNY (¥)

Dec. 31, 2025

CNY (¥)

Amounts due to related parties

$ 85

¥ 835

¥ 596

Research and development expenses

347,232

¥ 2,428,226

2,118,982

¥ 1,638,736

23,679

165,593

142,884

148,879

39,708

277,681

211,173

214,610

Related Party [Member]

Other receivables from related parties

48,644

591,221

340,173

11,234

200

Amounts due to related parties

835

596

Purchase from related parties

9,763

30,690

26,341

$ 316,711

2,214,789

1,819,098

1,292,880

58,455

20,799

25,308

Interest income

^[1]

1,902

Interest expense

^[2]

485

Total

2,387

Other receivables from related parties

^[3]

591,221

304,078

100

200

Purchase from related parties

^[3]

13,546

26,341

Research and development expenses

^[3]

2,174,895

1,752,246

1,292,880

^[3]

273

716

Amounts due to related parties

^[3]

835

596

^[4]

797

^[4]

48,594

20,399

24,511

Other receivables from related parties

^[5]

36,095

11,134

Purchase from related parties

^[5]

9,763

17,144

^[5]

39,894

66,852

^[6]

¥ 9,861

¥ 400

[1]	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.
[2]	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.
[3]	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.
[4]	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.
[5]	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.
[6]	The Group’s related party provides transportation services, maintenance services, promotion services as well as installation services for the Group.

SUMMARY OF NET INCOME PER SHARE, BASIC AND DILUTED (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Net (loss) income per share attributable to ordinary shareholders of the Company
Numerator for basic calculation - Net income attributable to ordinary shareholders of the Company from continuing operations	$ 20,256	¥ 141,644	¥ 144,364	¥ 116,768
Denominator for basic calculation - weighted average ordinary shares outstanding	203,997,871	203,997,871	204,787,786	206,387,105
Dilutive effect of share options	6,922,622	6,922,622	1,903,131	1,280,658
Denominator for diluted calculation	210,920,493	210,920,493	206,690,917	207,667,763
Basic net income per ordinary share from continuing operations \| (per share)	$ 0.10	¥ 0.69	¥ 0.70	¥ 0.57
Diluted net income per ordinary share from continuing operations \| (per share)	$ 0.10	¥ 0.67	¥ 0.70	¥ 0.56

Amount after tax of income (loss) from continuing operations attributable to the parent.

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

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