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Thursday, February 08, 2018 3:27:05 PM

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IPO issued February 8, 2018
Website: http://www.huami-usa.com/
link to financials: http://secfilings.nasdaq.com/filingFrameset.asp?FilingID=12517955&RcvdDate=2/5/2018&CoName=HUAMI%20CORP&FormType=F-1/A&View=html

or
https://www.nasdaq.com/symbol/hmi/sec-filings

Recent Developments

The following sets forth our selected unaudited financial data for the two months ended November 30, 2017 and certain operating data for the fourth quarter of 2017. We have provided the preliminary results described below for the purpose of providing the investors with the most current information that our company is able to provide under the time constraints. The below summary of financial data is not a comprehensive statement of our financial results for the two months ended November 30, 2017 or 2016. Because our company’s 2017 fiscal year has only recently ended, we are still in the process of completing our annual year-end financial statements. Therefore, it is possible that normal annual adjustments will be made.



• Revenues . Our revenues for the two months ended November 30, 2017 were RMB476.7 million (US$71.6 million), consisting of RMB345.0 million (US$51.9 million) of Xiaomi Wearable Products segment revenues and RMB131.7 million (US$19.8 million) of self-branded products and others segment revenues, as compared to revenues of RMB399.2 million, consisting of RMB363.0 million of Xiaomi Wearable Products segment revenues and RMB36.2 million of self-branded products and others segment revenues, for the two months ended November 30, 2016. The increase was primarily attributable to an increase in average revenue per unit and an increase in shipment volume of our self-branded products.


• Cost of revenues . Our cost of revenues for the two months ended November 30, 2017 was RMB355.4 million (US$53.4 million), as compared to cost of revenues of RMB336.8 million for the two months ended November 30, 2016.


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• Gross profit . Our gross profit for the two months ended November 30, 2017 was RMB121.3 million (US$18.2 million), as compared to gross profit of RMB62.4 million for the two months ended November 30, 2016.


• Research and development expenses . Our research and development expenses for the two months ended November 30, 2017 were RMB19.6 million (US$2.9 million), as compared to research and development expenses of RMB16.1 million for the two months ended November 30, 2016. The increase was primarily attributable to an increase in personnel-related costs associated with an increase of average compensation level.


• General and administrative expenses . Our general and administrative expenses for the two months ended November 30, 2017 was RMB30.3 million (US$4.6 million), as compared to general and administrative expenses of RMB22.4 million for the two months ended November 30, 2016. The increase was primarily attributable to an increase in advisory and professional service fees related to this offering.


• Selling and marketing expenses . Our selling and marketing expenses for the two months ended November 30, 2017 was RMB7.7 million (US$1.2 million), as compared to selling and marketing expenses of RMB8.7 million for the two months ended November 30, 2016. The decrease was primarily attributable to a decrease in spending on advertising as we increasingly utilize e-commerce platforms for marketing and promotion of our products.


• Net income . Our net income for the two months ended November 30, 2017 was RMB52.2 million (US$7.9 million), as compared to net income of RMB14.0 million for the two months ended November 30, 2016.


• Adjusted net income . Our adjusted net income, which excludes share-based compensation expenses, was RMB61.9 million (US$9.3 million) for the two months ended November 30, 2017, as compared to adjusted net income of RMB23.6 million for the two months ended November 30, 2016.


• Shipment volume . We shipped 6.5 million units of smart wearable devices in the fourth quarter of 2017.
The above selected unaudited financial data for the two months ended November 30, 2017 and certain operating data for the fourth quarter of 2017 are generally consistent with the trends for the nine months ended September 30, 2017 as disclosed in “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

Our selected unaudited financial data for the two months ended November 30, 2017 and certain operating data for the fourth quarter of 2017 may not be indicative of our financial results for future interim periods or for the full year ended December 31, 2017. Please refer to “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this prospectus for information regarding trends and other factors that may affect our results of operations.
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