Huami Technology listed in US, gets acquisitions offers from European companies

Mar 29, 2018, 1:30 pm

Oindrila B.

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Following its recent listing, Huami Technology held its first communication meeting on 29th March 2018. Commenting on the listing Huawei Technology CEO Huang Wang has said that it will help the company to go global, with overseas mergers and acquisitions being talked of in the near future.

Huami Technology, which officially featured on the New York Stock Exchange in February this year, has already started receiving invitations from many European and American companies.

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Xiaomi Ecological Chain Enterprise, Huami Technology, released the unaudited financial statements for the fourth quarter and the full year of fiscal year 2017 ending December 31 on March 26th, 2018, according to which Huami’s revenue for the fourth quarter was 752.6 million yuan (approximately US$115.7 million), marking an increase of 22.8% over the 610.3 billion yuan of the same period the previous year. The net profit attributed to Huami Technology was 72.3 million yuan, while that attributed to Huami the previous year amounted to 43 million yuan. Furthermore, Huami has shipped 6.5 million smart wearable devices.

Huami Technology’s 2017 revenue increased by 31.6% year-on-year, mainly due to the strong sales of milleable wearables and the promotion of its own Amazfit product line. A staggering number of more than 1 million Amazfit products sold by Huami in 2017 accounted for about 20% of total revenue. While Xiaomi has been Huami’s largest shareholder till now, Huang Wang has said that the company will now carry out more in-depth cooperation with Xiaomi, in order to do more product lines.

Via: iThome

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