Zepp Health Corp 6-K, filed Mar 16, 2020

Zepp Health Corp (ZEPP)

6-K 2020-03-16 For: 2020-03-31

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Added on April 06, 2026

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Zepp Health Corp filed this 6-K on March 16, 2020.

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Huami Corporation


By	:	/s/ David Cui
Name	:	David Cui
Title	:	Chief Financial Officer

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

US Toll Free:	1-877-344-7529
International:	1-412-317-0088
Replay Passcode:	10139897

	As of December 31,	As of December 31,
	2018	2019
	RMB	RMB	US$
Assets
Current assets:
Cash and cash equivalents	1,441,802	1,803,117	259,002
Restricted cash	10,010	874	126
Term deposit	96,969	—	—
Accounts receivable	58,925	188,940	27,140
Amounts due from related parties, current	656,399	1,421,170	204,138
Inventories	484,622	893,806	128,387
Short-term investments	50,482	17,187	2,469
Prepaid expenses and other current assets	58,247	67,358	9,675
Total current assets	2,857,456	4,392,452	630,937

Property, plant and equipment, net	40,042	64,350	9,243
Intangible asset, net	63,722	85,753	12,318
Goodwill	5,930	5,930	852
Long-term investments	208,949	406,099	58,332
Deferred tax assets	75,032	102,649	14,745
Other non-current assets	7,350	8,828	1,268
Non-current operating lease right-of-use assets	—	108,682	15,611
Total assets	3,258,481	5,174,743	743,306

	As of December 31,	As of December 31,
	2018	2019
	RMB	RMB	US$
Liabilities
Current liabilities:
Accounts payable	1,064,106	1,999,951	287,275
Advance from customers	5,943	44,793	6,434
Amount due to related parties, current	10,695	14,769	2,121
Accrued expenses and other current liabilities	213,975	319,450	45,887
Income tax payables	54,037	67,854	9,747
Notes payable	18,936	2,184	314
Bank borrowings	20,000	—	—
Current operating lease liabilities	—	32,799	4,711
Total current liabilities	1,387,692	2,481,800	356,489
Deferred tax liabilities	4,962	5,399	776
Other non-current liabilities	56,249	113,596	16,317
Non-current operating lease liabilities	—	76,360	10,968
Total liabilities	1,448,903	2,677,155	384,550

	For the Three Months Ended December 31,
	2018		2019
	RMB		RMB		US$
Revenues	1,224,569		2,111,413		303,286
Cost of revenues	915,574		1,608,288		231,016
Gross profit	308,995		503,125		72,270
Operating expenses:
Selling and marketing	28,753		62,756		9,014
General and administrative	63,929		82,562		11,859
Research and development	85,069		140,153		20,132
Total operating expenses	177,751		285,471		41,005
Operating income	131,244		217,654		31,265
Other income and expenses:
Realized gain from investment	261		1,822		262
Interest income	6,572		10,274		1,476
Other income (expenses), net	(6,536	)	7,744		1,112
Gain from fair value change of long-term investment	7,860		—		—
Income before income tax	139,401		237,494		34,115
Income tax expenses	(12,323	)	(27,335	)	(3,926	)
Income before loss from equity method investments	127,078		210,159		30,189
Loss from equity method investments	(1,920	)	(3,759	)	(540	)
Net income	125,158		206,400		29,649
Less: Net loss attributable to non-controlling interest	(794	)	(811	)	(116	)
Net income attributable to Huami Corporation	125,952		207,211		29,765
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	3,573		—		—
Net income attributable to ordinary shareholders of Huami Corporation	122,379		207,211		29,765
Net income per share attributable to ordinary shareholders of Huami Corporation
Basic income per ordinary share	0.52		0.84		0.12
Diluted income per ordinary share	0.49		0.80		0.12

Net income per ADS (4 ordinary shares equal to 1 ADS)
ADS — basic	2.08		3.36		0.48
ADS — diluted	1.97		3.21		0.46

Weighted average number of shares used in computing net income per share
Ordinary share — basic	234,818,943		246,929,507		246,929,507
Ordinary share — diluted	248,271,059		258,484,867		258,484,867

	Years Ended December 31,
	2018		2019
	RMB		RMB		US$
Revenues	3,645,335		5,812,255		834,878
Cost of revenues	2,705,885		4,344,512		624,050
Gross profit	939,450		1,467,743		210,828
Operating expenses:
Selling and marketing	96,538		181,975		26,139
General and administrative	213,973		248,462		35,689
Research and development	263,220		430,822		61,884
Total operating expenses	573,731		861,259		123,712
Operating income	365,719		606,484		87,116
Other income and expenses:
Realized gain from investment	261		1,822		262
Interest income	11,595		33,478		4,809
Other income, net	1,178		10,586		1,521
Gain from fair value change of long-term investment	7,860		—		—
Income before income tax	386,613		652,370		93,708
Income tax expenses	(52,036	)	(77,887	)	(11,188	)
Income before loss from equity method investments	334,577		574,483		82,520
Income (Loss) from equity method investments	1,743		(1,112	)	(160	)
Net income	336,320		573,371		82,360
Less: Net loss attributable to non-controlling interest	(3,726	)	(1,825	)	(262	)
Net income attributable to Huami Corporation	340,046		575,196		82,622
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	12,210		2,450		352
Net income attributable to ordinary shareholders of Huami Corporation	113,490		572,746		82,270
Net income per share attributable to ordinary shareholders of Huami Corporation
Basic income per ordinary share	0.54		2.35		0.34
Diluted income per ordinary share	0.51		2.24		0.32

Net income per ADS (4 ordinary shares equal to 1 ADS)
ADS — basic	2.14		9.40		1.35
ADS — diluted	2.03		8.95		1.29

Weighted average number of shares used in computing net income per share
Ordinary share — basic	211,873,704		243,648,186		243,648,186
Ordinary share — diluted	225,034,650		255,959,172		255,959,172

	As of December 31,		As of December 31,
	2018		2019
	RMB		RMB		US$
Equity
Ordinary shares	151		155		22
Additional paid-in capital	1,373,577		1,478,902		212,431
Accumulated retained earnings	340,046		910,612		130,801
Accumulated other comprehensive income	97,141		111,081		15,956
Total Huami Corporation shareholders’ equity	1,810,915		2,500,750		359,210
Non-controlling interests	(1,337	)	(3,162	)	(454	)
Total equity	1,809,578		2,497,588		358,756
Total liabilities and equity	3,258,481		5,174,743		743,306