Le Lézard
Classified in: Science and technology, Business
Subjects: ERN, CCA, ERP

Huami Corporation Reports Third Quarter 2019 Unaudited Financial Results


BEIJING, Nov. 12, 2019 /PRNewswire/ -- Huami Corporation ("Huami" or the "Company") (NYSE: HMI), a biometric and activity data-driven company with significant expertise in smart wearable technology, today announced its unaudited financial results for the third quarter ended September 30, 2019.

Third Quarter 2019 Financial and Operating Highlights

First Nine Months 2019 Financial and Operating Highlights

[1] Adjusted net income is a non-GAAP measure, which excludes share-based compensation expenses. See "Reconciliation of GAAP and Non-GAAP Results" at the end of this press release.

[2] Adjusted net income attributable to ordinary shareholders of Huami Corporation is a non-GAAP measure, which excludes share-based compensation expenses attributable to ordinary shareholders of Huami Corporation and deemed dividend for preferred shares, and is used as the numerator in computation of adjusted basic and diluted net income per ADS attributable to ordinary shareholders of Huami Corporation.

"Our persistent execution of strategic initiatives focused on product diversification, brand elevation, and international expansion, continues to pay off, driving outstanding top-line and bottom-line growth in the third quarter," said Wang Huang, Chairman and CEO. "Our revenue performance was primarily the result of the strong sales of both the Mi-Band 4 and our newly released Amazfit products, as both brand categories become increasingly recognized by consumers. Our international shipments keep on climbing, underpinned by our first international product launch event in Berlin, Germany and numerous global product design awards we received. We view the overseas marketing campaign as an essential strategy for our growth with additional global product launches being planned for future dates.

"In the third quarter, we leveraged our expertise in smart wearable hardware and big data analytics to further optimize algorithms for our cloud-based healthcare services. The accuracy and effectiveness of our healthcare service offering has been testified by top physicians in China. A recent research published at the 2019 Asia Pacific Heart Rhythm Society by Peking University First Hospital, showed that Huami smart wearables manage to detect atrial fibrillation at an accuracy rate of approximately 94%, similar to the accuracy of professional physicians. Looking ahead, we will continue investing in and improving our R&D capabilities as well as seek new strategic partnerships, all while maintaining our close relationship with Xiaomi. With all of these efforts, we strive to provide users a better experience in sports and healthcare services, as they integrate our smart products and services into their daily lives." 

David Cui, Chief Financial Officer, said, "We are very pleased with the robust financial results in the third quarter, with revenues growing 73.3% year-over-year and net income attributed to Huami Corporation also increasing strongly year-over-year at 78.7%, as we benefited from strong unit sales, particularly with increasing global demand for both Mi-Band 4 and our newly launched Amazfit products. During this quarter, we shipped 13.7 million total units, up 67.1% from the same period last year.

"Along with revenue expansion, our operating efficiency also improved in the quarter, with operating expense as a percentage of revenues at 13.5% during the quarter, declining 4.3 and 1.4 percentage points respectively from the second quarter 2019 and the third quarter last year, despite our increasing investment in R&D capabilities and brand equity during the quarter. As we further diversify our product lines, strengthen our service offerings, form  and solidify strategic alliances, and grow our global footprint, we are confident in our ability to continue delivering healthy financial and operating performance going forward."

Third Quarter 2019 Financial Results

Revenues increased by 73.3% to RMB1,862.5 million (US$260.6 million) from RMB1,074.7 million for the third quarter of 2018, driven by continued sales growth of Xiaomi and self-branded wearable products, an increase in overall brand recognition and the global rise in the adoption of smart wearable products.

Cost of revenues increased by 76.8% to RMB1,392.7 million (US$194.8 million) from RMB787.8 million for the third quarter of 2018. The increase was in line with the sales growth of Xiaomi and self-branded wearable products.

Gross profit increased by 63.8% to RMB469.9 million (US$65.7 million) from RMB286.9 million for the third quarter of 2018. Gross margin of 25.2% for the third quarter of 2019, compared with 26.7% for the third quarter of 2018.

Total operating expenses increased to RMB250.7 million (US$35.1 million) from RMB160.3 million for the third quarter of 2018.

Research and development expenses increased by 107.7% to RMB124.5 million (US$17.4 million) from RMB60.0 million for the third quarter of 2018, primarily due to an increase in the number of R&D staff and a rise in testing costs associated with future products.

General and administrative expenses increased to RMB69.6 million (US$9.7 million) from RMB68.0 million for the third quarter of 2018, primarily due to an increase in personnel-related expenses and professional fees related to business expansion, offset by a decrease in share-based compensation.

Selling and marketing expenses increased by 75.1% to RMB56.6 million (US$7.9 million) from RMB32.3 million for the third quarter of 2018, primarily due to an increase in advertising and promotional expenses for new self-branded products and growth in personnel-related expenses.

Operating income was RMB219.1 million (US$30.7 million), compared with RMB126.6 million for the third quarter of 2018.

Income before income tax was RMB228.1 million (US$31.9 million), compared with RMB129.4 million for the third quarter of 2018.

Income tax expenses were RMB27.5 million (US$3.9 million), compared with RMB21.1 million for the third quarter of 2018.

Net income attributable to Huami Corporation totaled RMB203.3 million (US$28.4 million), compared with RMB113.8 million for the third quarter of 2018.

Net income attributable to ordinary shareholders of Huami Corporation increased to RMB203.3 million (US$28.4 million), compared with RMB109.1 million for the third quarter of 2018.

Basic and diluted net income per ADS attributable to ordinary shareholders of Huami Corporation was RMB3.31 (US$0.46) and RMB3.15 (US$0.44), respectively. Each ADS represents four (4) Class A ordinary shares.

Adjusted net income attributable to Huami Corporation, which excludes share-based compensation expenses, increased by 56.3% to RMB209.8 million (US$29.4 million) from RMB134.2 million for the third quarter of 2018.

Adjusted basic and diluted net income per ADS attributable to ordinary shareholders of Huami Corporation was RMB3.41 (US$0.48) and RMB3.25 (US$0.45), respectively. Each ADS represents four (4) Class A ordinary shares.

As of September 30, 2019, the Company had cash and cash equivalents of RMB1,719.8 million (US$240.6 million), compared with RMB1,441.8 million as of December 31, 2018.

First Nine Months 2019 Financial Results

Revenues increased by 52.9% to RMB3,700.8 million (US$517.8 million) from RMB2,420.8 million in the first nine months of 2018, due to the growth of Xiaomi and self-branded wearable products, an increase in overall brand recognition and the global rise in the adoption of smart wearable products.

Cost of revenues increased by 52.8% to RMB2,736.2 million (US$382.8 million) from RMB1,790.3 million in the first nine months of 2018. The increase was in line with accelerating sales growth of both Xiaomi and self-branded wearable products.

Gross profit increased by 53.0% to RMB964.6 million (US$135.0 million) from RMB630.5 million in the first nine months of 2018. Gross margin increased to 26.1% from 26.0% in the first nine months of 2018.

Total operating expenses increased to RMB575.8 million (US$80.6 million) from RMB396.0 million in the first nine months of 2018.

Research and development expenses increased by 63.2% to RMB290.7 million (US$40.7 million) from RMB178.2 million in the first nine months of 2018, primarily due to an increase in personnel-related expenses and a rise in testing costs associated with future products.

General and administrative expenses increased by 10.6% to RMB165.9 million (US$23.2 million) from RMB150.0 million in the first nine months of 2018, primarily due to an increase in personnel-related expenses, professional fees related to business expansion, offsetting by the decrease of share-based compensation.

Selling and marketing expenses increased by 75.9% to RMB119.2 million (US$16.7 million) from RMB67.8 million in the first nine months of 2018, primarily due to an increase in advertising and promotional expenses for self-branded products as well as personnel-related expenses.

Operating income was RMB388.8 million (US$54.4 million), compared with RMB234.5 million in the first nine months of 2018.

Income before income tax was RMB414.9 million (US$58.0 million), compared with RMB247.2 million in the first nine months of 2018.

Income tax expenses were RMB50.6 million (US$7.1 million), compared with RMB39.7 million in the first nine months of 2018.

Net income attributable to Huami Corporation totaled RMB368.0 million (US$51.5 million), compared with RMB214.1 million in the first nine months of 2018.

Net income attributable to ordinary shareholders of Huami Corporation improved to RMB365.9 million (US$51.2 million), compared with a net loss of RMB0.3 million in the first nine months of 2018, which included the impact of deemed dividend to preferred shareholders.

Basic and diluted net income per ADS attributable to ordinary shareholders of Huami Corporation was RMB6.03 (US$0.84) and RMB5.73 (US$0.80), respectively. Each ADS represents four (4) Class A ordinary shares.

Adjusted net income attributable to Huami Corporation, which excludes share-based compensation expenses, increased by 26.9% to RMB416.6 million (US$58.3 million) from RMB328.3 million in the first nine months of 2018.

Adjusted basic and diluted net income per ADS attributable to ordinary shareholders of Huami Corporation was RMB6.83 (US$0.96) and RMB6.49 (US$0.91), respectively, compared with RMB5.92 and RMB5.30, respectively, in the first nine months of 2018. Each ADS represents four (4) Class A ordinary shares.

Outlook

For the fourth quarter of 2019, the management of the Company currently expects:

-  Net revenues to be between RMB1.93 billion and RMB1.95 billion, which would represent an increase of approximately 57.6% to 59.2% from RMB1,224.6 million for the fourth quarter of 2018.

The above outlook is based on the current market conditions and reflects the Company management's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

Conference Call

The Company's management will hold a conference call at 7:30 a.m. Eastern Standard Time on Tuesday, November 12, 2019 (8:30 p.m. Beijing Time on November 12, 2019) to discuss financial results and answer questions from investors and analysts. Listeners may access the call by dialing:

US (Toll Free):

1-888-346-8982

International:

1-412-902-4272

Mainland China (Toll Free):

400-120-1203

Hong Kong (Toll Free):

800-905-945

Hong Kong:

852-3018-4992

Participants should dial-in at least 10 minutes before the scheduled start time and ask to be connected to the call for "Huami Corporation."

Additionally, a live and archived webcast of the conference call will be available at http://www.huami.com/investor.

A telephone replay will be available two hours after the call until November 19, 2019 by dialing:

US Toll Free:

+1-877-344-7529

International:

+1-412-317-0088

Replay Passcode:

10136554

About Huami Corporation

Huami is a biometric and activity data-driven company with significant expertise in smart wearable technology. Since its inception in 2013, Huami has quickly established its global market leadership and recognition by shipping millions of units of smart wearable devices. In 2018, Huami shipped 27.5 million units of smart wearable devices. Huami has one of the largest biometric and activity databases in the global smart wearables industry. Huami's mobile apps work hand in hand with its smart wearable devices and provide users with a comprehensive view and analysis of their biometric and activity data.

Use of Non-GAAP Measures

We use adjusted net income, a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. Adjusted net income represents net income excluding share-based compensation expenses, and such adjustment has no impact on income tax. Adjusted net income attributable to ordinary shareholders of Huami Corporation is a non-GAAP measure, which excludes share-based compensation expenses attributable to ordinary shareholders of Huami Corporation and deemed dividend for preferred shares, and is used as the numerator in computation of adjusted net income per share attributable to ordinary shareholders of Huami Corporation .

We believe that adjusted net income and adjusted net income attributable to ordinary shareholders help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses and deemed dividend that we include in net income and net income attributable to ordinary shareholders. We believe that adjusted net income and adjusted net income attributable to ordinary shareholders provides useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.

Adjusted net income and adjusted net income attributable to ordinary shareholders, should not be considered in isolation or construed as an alternative to net income, basic and diluted net income per share attributable to ordinary shareholders of Huami Corporation or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted net income and adjusted net income attributable to ordinary shareholders, presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

Exchange Rate

The Company's business is primarily conducted in China and the significant majority of revenues generated are denominated in Renminbi ("RMB"). This announcement contains currency conversions of RMB amounts into U.S. dollars ("US$") solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB 7.1477 to US$1.00, the effective noon buying rate for September 30, 2019 as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on September 30, 2019, or at any other rate.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the cooperation with Xiaomi, the recognition of the Company's self-branded products; the Company's growth strategies; trends and competition in global wearable technology market; changes in the Company's revenues and certain cost or expense accounting policies; governmental policies relating to the Company's industry and general economic conditions in China and the global. Further information regarding these and other risks is included in the Company's filings with the United States Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
Huami Corporation
Grace Yujia Zhang
E-mail: ir@huami.com

The Piacente Group, Inc.
Ross Warner
Tel: +86-10-6508-0677
E-mail: huami@tpg-ir.com

In the United States:
Brandi Piacente
Tel: +1-212-481-2050
E-mail:??huami@tpg-ir.com

 

 

 

HUAMI CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)









As of December 31,


As of September 30,



2018


2019



RMB


RMB


US$








Assets







Current assets:







Cash and cash equivalents


1,441,802


1,719,807


240,610

Restricted cash


10,010


498


70

Term deposit


96,969


-


-

Accounts receivable


58,925


111,877


15,652

Amounts due from related parties, current


656,399


1,226,396


171,579

Inventories


484,622


854,010


119,480

Short-term investments


50,482


22,102


3,092

Prepaid expenses and other current assets


58,247


43,049


6,023

Total current assets


2,857,456


3,977,739


556,506








Property, plant and equipment, net


40,042


56,171


7,859

Intangible asset, net


63,722


87,926


12,301

Goodwill


5,930


5,930


830

Long-term investments


208,949


407,382


56,995

Deferred tax assets


75,032


106,344


14,878

Other non-current assets


7,350


10,816


1,513

Noncurrent operating lease right-of-use assets


-


112,109


15,685

Total assets


3,258,481


4,764,417


666,567

 

 

 

HUAMI CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)









As of December 31, 


As of September 30,



2018


2019



RMB


RMB


US$








Liabilities







Current liabilities:







Accounts payable


1,064,106


1,887,379


264,054

Advance from customers


5,943


41,307


5,779

Amount due to related parties, current


10,695


13,170


1,843

Accrued expenses and other current liabilities


213,975


236,660


33,110

Income tax payables


54,037


53,059


7,423

Notes payable


18,936


1,245


174

Bank borrowings


20,000


-


-

Current operating lease liabilities


-


30,017


4,200

Total current liabilities


1,387,692


2,262,837


316,583

Deferred tax liabilities


4,962


5,648


790

Other non-current liabilities


56,249


111,856


15,649

Noncurrent operating lease liabilities


-


80,181


11,218

Total liabilities


1,448,903


2,460,522


344,240

 

 

 

HUAMI CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)









As of December 31,


As of September 30,



2018


2019



RMB


RMB


US$








Equity







Ordinary shares


151


154


22

Additional paid-in capital


1,373,577


1,472,299


205,982

Accumulated retained earnings


340,046


703,493


98,422

Accumulated other comprehensive income


97,141


130,300


18,230

Total Huami Corporation shareholders' equity


1,810,915


2,306,246


322,656

Non-controlling interests


(1,337)


(2,351)


(329)

Total equity


1,809,578


2,303,895


322,327

Total liabilities and equity


3,258,481


4,764,417


666,567

 

 

 

HUAMI CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)










For the Three Months Ended September 30,



2018


2019



RMB


RMB


US$








Revenues


1,074,707


1,862,531


260,578

Cost of revenues


787,811


1,392,670


194,842

Gross profit


286,896


469,861


65,736

Operating expenses:







Selling and marketing


32,341


56,631


7,923

General and administrative


67,971


69,578


9,734

Research and development


59,958


124,538


17,424

Total operating expenses


160,270


250,747


35,081

Operating income


126,626


219,114


30,655

Other income and expenses:







Interest income


1,648


10,911


1,527

Other income (expenses), net


1,086


(1,971)


(276)

Income before income tax


129,360


228,054


31,906

Income tax expenses


(21,095)


(27,518)


(3,850)

Income before loss from equity method investments


108,265


200,536


28,056

Income from equity method investments


4,399


2,878


403

Net income


112,664


203,414


28,459

Less: Net (loss) income attributable to non-controlling interest


(1,148)


77


11

Net income attributable to Huami Corporation


113,812


203,337


28,448

Less: Accretion of Series A Preferred Shares


-


-


-

Less: Accretion of Series B-1 Preferred Shares


-


-


-

Less: Accretion of Series B-2 Preferred Shares


-


-


-

Less: Deemed Dividend for Preferred Shares


-


-


-

Less: Undistributed earnings allocated to participating nonvested
restricted shares


4,759


-


-

Net income attributable to ordinary shareholders of Huami
Corporation


109,053


203,337


28,448

Net income per share attributable to ordinary 

shareholders of Huami Corporation







Basic income per ordinary share


0.47


0.83


0.12

Diluted income per ordinary share


0.45


0.79


0.11








Net income per ADS (4 ordinary shares equal to 1 ADS)







ADS ? basic


1.89


3.31


0.46

ADS ? diluted


1.79


3.15


0.44








Weighted average number of shares used in computing net
income per share







Ordinary share ? basic


231,062,447


245,934,981


245,934,981

Ordinary share ? diluted


244,537,743


258,343,485


258,343,485

 

 

 

HUAMI CORPORATION

Reconciliation of GAAP and Non-GAAP Results

(Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)




For the Three Months Ended September 30



2018


2019



RMB


RMB


US$

Net income attributable to Huami Corporation


113,812


203,337


28,448

Share-based compensation expenses


20,404


6,491


909

Adjusted net income attributable to Huami 
Corporation


134,216


209,828


29,357

















For the Three Months Ended September 30,



2018


2019



RMB


RMB


US$








Net income attributable to ordinary shareholders
of Huami Corporation


109,053


203,337


28,448

Share-based compensation expenses attributable to
ordinary shareholders of Huami Corporation


19,550


6,491


909

Adjusted net income attributable to ordinary 
shareholders of Huami Corporation
[2]


128,603


209,828


29,357








Adjusted net income per share attributable to 
ordinary shareholders of Huami Corporation







Adjusted basic income per ordinary share


0.56


0.85


0.12

Adjusted diluted income per ordinary share


0.53


0.81


0.11








Adjusted net income per ADS (4 ordinary shares equal
to 1 ADS)







ADS ? basic


2.23


3.41


0.48

ADS ? diluted


2.11


3.25


0.45








Weighted average number of shares used in 
computing net income per share







Ordinary share ? basic


231,062,447


245,934,981


245,934,981

Ordinary share ? diluted


244,537,743


258,343,485


258,343,485








Share-based compensation expenses included 
are follows:







Cost of revenues


5


8


1

Selling and marketing


61


647


91

General and administrative


19,340


4,130


578

Research and development


998


1,706


239

Total


20,404


6,491


909

 

 

 

HUAMI CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)










For the Nine Months Ended September 30,



2018


2019



RMB


RMB


US$








Revenues


2,420,766


3,700,842


517,767

Cost of revenues


1,790,311


2,736,224


382,812

Gross profit


630,455


964,618


134,955

Operating expenses:







Selling and marketing


67,785


119,219


16,679

General and administrative


150,044


165,900


23,210

Research and development


178,151


290,669


40,666

Total operating expenses


395,980


575,788


80,555

Operating income


234,475


388,830


54,400

Other income and expenses:







Interest income


5,023


23,204


3,246

Other income, net


7,714


2,842


398

Income before income tax


247,212


414,876


58,044

Income tax expenses


(39,713)


(50,552)


(7,072)

Income before loss from equity method investments


207,499


364,324


50,972

Income from equity method investments


3,663


2,647


370

Net income


211,162


366,971


51,342

Less: Net loss attributable to non-controlling interest


(2,932)


(1,014)


(142)

Net income attributable to Huami Corporation


214,094


367,985


51,484

Less: Accretion of Series A Preferred Shares


177


-


-

Less: Accretion of Series B-1 Preferred Shares


368


-


-

Less: Accretion of Series B-2 Preferred Shares


4,049


-


-

Less: Deemed Dividend for Preferred Shares


209,752


-


-

Less: Undistributed earnings allocated to participating nonvested
restricted shares


-


2,102


294

Net (loss) income attributable to ordinary shareholders of Huami
Corporation


(252)


365,883


51,190

Net income per share attributable to ordinary 

shareholders of Huami Corporation







Basic income per ordinary share


(0.00)


1.51


0.21

Diluted income per ordinary share


(0.00)


1.43


0.20








Net income per ADS (4 ordinary shares equal to 1 ADS)







ADS ? basic


(0.00)


6.03


0.84

ADS ? diluted


(0.00)


5.73


0.80








Weighted average number of shares used in computing net
income per share







Ordinary share ? basic


204,101,485


242,542,392


242,542,392

Ordinary share ? diluted


204,101,485


255,322,189


255,322,189

 

 

 

HUAMI CORPORATION

Reconciliation of GAAP and Non-GAAP Results

(Amounts in thousands of Renminbi ("RMB") and U.S. dollars ("US$")

except for number of shares and per share data, or otherwise noted)




For the Nine Months Ended September 30



2018


2019



RMB


RMB


US$

Net income attributable to Huami Corporation


214,094


367,985


51,484

Share-based compensation expenses


114,211


48,579


6,797

Adjusted net income attributable to Huami 
Corporation


328,305


416,564


58,281

















For the Nine Months Ended September 30,



2018


2019



RMB


RMB


US$








Net (loss) income attributable to ordinary shareholders
of Huami Corporation


(252)


365,883


51,190

Share-based compensation expenses attributable

to ordinary shareholders of Huami Corporation


92,441


48,301


6,758

Deemed Dividend for Preferred shares


209,752


-


-

Adjusted net income attributable to ordinary 
shareholders of Huami Corporation
[2]


301,941


414,184


57,948








Adjusted net income per share attributable to 
ordinary shareholders of Huami Corporation







Adjusted basic income per ordinary share


1.48


1.71


0.24

Adjusted diluted income per ordinary share


1.32


1.62


0.23








Adjusted net income per ADS (4 ordinary shares equal
to 1 ADS)







ADS ? basic


5.92


6.83


0.96

ADS ? diluted


5.30


6.49


0.91








Weighted average number of shares used in 
computing net income per share







Ordinary share ? basic


204,101,485


242,542,392


242,542,392

Ordinary share ? diluted


216,264,202


255,322,189


255,322,189








Share-based compensation expenses included 
are follows:







Cost of revenues


415


47


7

Selling and marketing


4,172


2,557


358

General and administrative


71,403


36,539


5,112

Research and development


38,221


9,436


1,320

Total


114,211


48,579


6,797

 

 

 

SOURCE Huami Corporation


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