Huami Technology released its financial results for Q3 (third quarter) of 2021 this afternoon. According to the company revealed, the revenue was 1,6 billion yuan (200 million euros), while the total revenue for the first three quarters was 4,589 billion yuan, a slight increase from 4,461 billion yuan (600 million euros) in the same period last year.
Huami publishes Q3 financial results: shipments grow by 90%
Huang Wang, founder, president and CEO of Huami Technology, said that while global supply chains and chip shortages brought huge challenges to most companies, Huami still met expectations in the third quarter. The volume of shipments of the Amazfit and Zepp brands achieved substantial growth of 89% year-on-year, which shows that the brand continues to expand globally.
Huang Wang also said that recently, the best-selling urban fashion series smartwatches just launched a new generation that includes Amazfit GTS 3, Amazfit GTR 3 and Amazfit GTR 3 Pro; all equipped with a new operating system developed in house, Zepp OS.
Deng Cheng, CFO of Huami Technology, said that due to delayed launches of Xiaomi's new wearables, global supply chain strain and chip shortage, this quarter's revenue was impacted to some extent. but the company's brand products nevertheless achieved good results.
It is understood that Huami Technology's board of directors also approved a $ 20 million share repurchase plan today.
In this regard, Huang Wang said the share buyback plan launched this time is entirely consistent with the commitment to maximize value for all shareholders. It reflects the company's confidence in its sustainable growth and long-term strategy.
Finally, regarding financial performance in the fourth quarter of 2021, the company's management currently expects revenue to be between RMB 1,75 billion and RMB 2 billion (€ 276 million).
Huami no longer exists, now it's called Zepp Health 😉