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Zepp Health Corporation Reports First Quarter 2025 Unaudited Financial Results

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MILPITAS, Calif., May 19, 2025 /PRNewswire/ — Zepp Health Corporation (“Zepp” or the “Company”) (NYSE: ZEPP) today announced its unaudited financial results for the first quarter of 2025.

First Quarter 2025 Financial and Operating Highlights:

Revenue reached US$39 million, out of which Amazfit-branded products grew by 10.2% year-over-year.Gross margin was 37.3% compared with 36.8% in the same period of last yearCash balance was 104 million, after repayment of US$11.5 million short-term debt in the first quarter of 2025.The U.S.-China reached deal to temporarily reduce tariffs; the company has proactively established a dual-sourcing supply chain strategy with production bases in both China and Vietnam.For the second quarter of 2025, the Company’s management currently expects net revenues to be between US$50 million and US$55 million, which would represent an increase of approximately 23% to 35% from US$40.6 million in the second quarter of 2024.

Mr. Wang ‘Wayne’ Huang, Chairman and CEO of Zepp, commented, “In the first quarter of 2025, we are happy to see that our Amazfit revenue grew 10% year over year as we execute against a difficult macro backdrop while sharpening our operating model for long–term resilience. Tariff relief on key smartwatch categories in the United States and our dual–sourcing strategy between China and Vietnam helped cushion some external cost pressures, and the additional Vietnam capacity we brought online further de–risked the supply chain. Fixed expenses were not fully absorbed in the low season, which limited gross–margin leverage, but the progress we have made on mix upgrade keeps us firmly on the path toward sustained profitability.”

Wayne added, “Over the past four months, we successfully launched the Amazfit Active 2 and Bip 6. These smartwatches frequently rank among the top 10 on Amazon’s smartwatch category in major countries with ratings exceeding 4.6 on Amazon in the U.S. They also received enthusiastic acclaim within the Reddit community. With sales on a consistent upward trend and production – delivery challenges on the brink of full resolution, we anticipate even higher sales for the Active 2 and Bip 6 series in the upcoming quarters.

We remain committed to leveraging open-source technologies such as Llama. Recently, we enhanced the responsiveness of Zepp Flow voice commands on our smartwatches, achieving a 17-fold improvement in speed. Additionally, by adopting a hybrid AI solution combining OpenAI and Google Gemini, we reduced the cost of food recognition in our app’s food log by 90%. This enabled us to expand the service across a wider region in Europe and double the daily usage allowance for users.”

Wayne concluded, “To amplify the brand, we deepened our presence in the HYROX community via events in Chicago, Taipei and Shanghai, and welcomed global athlete partners like five-time Olympic medallist Gabby Thomas and Italian tennis star Jasmine Paolini. Last weekend, Jasmine made history by becoming the first Italian woman in 40 years to win the Rome Open. She, wearing the Active 2 watch, is inspiring sports enthusiasts in the spotlight. Such moments build brand voice and user connection. Strong sales of our budget-friendly products lay the groundwork for mid-to-high-end launches, strengthen partner confidence, broaden our user base, and expand the sales funnel. As these efforts begin to yield in results, second quarter we expect our first year-over-year overall sales growth since 2021 as new products scale up, partnerships expand, and our global footprint broadens. We’ll remain vigilant of external challenges, keep optimizing the supply chain, and invest in AI-driven unique experiences to keep Zepp Health leading in the wearable market. With all the new product roadmaps lined up, and we believe 2025 will be a fruitful year for Zepp Health.”

Zepp Health’s CFO, Mr. Leon Deng, said, “Our results in the first quarter of 2025 tracked closely with guidance. We are pleased to report that Amazfit products revenue has returned to growth after a two-year transformation period. This marks a significant milestone in our ongoing strategy toward a more brand-driven growth model. The strong performance reflects continued momentum in our core markets and the successful launches of key products, which have outperformed prior models in terms of sales velocity and market reception. Total gross margin stood at 37.3%, higher than both the fourth and the first quarter of 2024, even after absorbing foreign currency and tariffs headwinds. Furthermore, our total operating expense was US$32.7 million, and adjusted operating expenses[1] of US $31.5 million in the first quarter were up modestly from both the prior quarter and prior year same quarter, reflecting disciplined investments in research and development expenses, as well as targeted brand and marketing investments around product launches and new athlete sponsorships. As a result, our net loss is US$19.7 million, and our adjusted net loss[2] was US$18.1 million, as the first quarter is traditionally the lowest sales season for consumer electronics industry, which could not absorb our cost base in full. Despite this, our cash balance was US$104 million, compared to US$110 million at the fourth quarter of 2024, thanks to our enhanced working capital management and improved cash conversion cycle. Following the refinancing completed in February, long–term borrowings now represent about 70% of our total debt, and we have retired US$67.8 million of debt since early 2023, with another US$11.5 million repaid in the first quarter 2025. For the second quarter, we project revenue of US$50 million to US $55 million, representing 23% to 35% growth of revenues compared with second quarter of 2024. Our share‑repurchase program remains in place for the remainder of 2025, underscoring confidence in Zepp Health’s outlook. “

[1] Adjusted operating expenses represent operating expenses excluding (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. See “Reconciliation of GAAP and non-GAAP results” at the end of this press release.

[2] Adjusted net income/(loss) attributable to Zepp Health Corporation represents net income/(loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, and (vi) tax effects of the above non-GAAP adjustments. See “Reconciliation of GAAP and non-GAAP results” at the end of this press release.

First Quarter 2025 Financial Results

Revenues

Revenues for the first quarter of 2025 reached US$38.5 million, a decrease by 3.6% from the first quarter of 2024. The decrease was primarily due to the US$5.0 million decrease in the sales of Xiaomi wearable products. In the first quarter of 2025, sales of Amazfit-branded products grew 10.2% year over year, marking a return to growth since the first quarter of 2022. This was preceded by a strong quarter over quarter growth of 43.4% from the third quarter to the fourth quarter of 2024. The increase was mainly driven by the successful launch of Amazfit Active 2, Bip 6, while we are still facing some supply constrains especially on the Amazfit Active 2 premium version, and it should be fully resolved in the second quarter of 2025. Compared with fourth quarter of 2024, revenue decline is driven by the seasonality while the first quarter is the lowest quarter of the year and supply constrains especially on the long lead-time components for Amazfit Bip 6 and Active 2 premium version, which resulted the Bip 6’s launch was postponed to the end of March 2025. Looking at the second quarter of 2025, we are expecting the Amazfit-branded sales continue to grow, with many new products launches in the pipeline.

Gross Margin

Gross margin in the first quarter of 2025 was 37.3%, which was higher than first and fourth quarter of 2024, We are impacted by the additional 20% tariffs imposed on China-made products in the first quart of 2025, excluding that the gross margin is 38.4%. The higher gross margin of Amazfit-branded products was mainly driven by the higher gross margin of newly- launched products.

Research and Development Expenses

Research and development expenses in the first quarter of 2025 were US$12.4 million, a decrease by 7.8% year-over-year. The decrease was as a result of our refined research and development approaches, as we consistently evaluated resource efficiency to ensure maximum return on investment and productivity. We are committed to investing in new technologies and AI to maintain our competitive edge against our peers.

Selling and Marketing Expenses

Selling and marketing expenses in the first quarter of 2025 were US$13.8 million, an increase by 28.5% year-over-year. The increase was primarily due to US$1.7 million in digital campaigns and product launch events for new products, and US$1.4 million in sales channel investments. At the same time, we consistently pushed on retail profitability and channel mix improvement. We are committed to investing efficiently in marketing and branding to ensure our sustainable growth.

General and Administrative Expenses

General and administrative expenses were US$6.5 million in the first quarter of 2025, compared with US$6.4 million in the same period of 2024, an increase by 1.5% year-over-year. The increase was largely attributable to foreign exchange rate fluctuations of US$1.0, offset by a US$0.8 million decrease in share-based compensation expenses. 

Operating Expenses

Total operating expenses for the first quarter of 2025 were US$32.7 million, an increase by 6.9% year-over-year. Adjusted operating expenses, which exclude share-based compensation and amortization of intangible assets resulting from acquisitions and business cooperation agreements, were US$31.5 million, compared with US$27.8 million in the same period of 2025. The increase was primarily due to foreign exchange rate fluctuations of US$1.0 million, US$1.7 million in digital campaigns and product launch events for new products, and US$1.4 million in sales channel investments. We will maintain our cost-conscious approach, aiming for operating expenses of US$25 to US$27 million in the upcoming quarters. Concurrently, we remain committed to investing in R&D and marketing activities to ensure our long-term competitiveness.

Operating Income/(Loss)

Operating loss for the first quarter of 2025 was US$18.4 million, which resulted in an inability to fully cover operating expenses, compared to operating loss of US$15.9 million for the first quarter of 2024. Adjusted operating loss[3] for the first quarter of 2025 was US$17.2 million, compared to adjusted operating loss of US$13.1 million for the same period of 2024. The variance was mainly due to foreign exchange rate fluctuations of US$1.0 million, US$1.7 million in digital campaigns and product launch events for new products, and US$1.4 million in sales channel investments.

[3] Adjusted operating income/(loss) represents operating income/(loss) excluding: (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. See “Reconciliation of GAAP and non-GAAP results” at the end of this press release.

Net Income/(Loss)

Net loss attributable to Zepp Health Corporation for the first quarter of 2025 was US$19.7 million, compared to net loss of US$14.8 million in the first quarter of 2024. Adjusted net loss attributable to Zepp Health Corporation was US$18.1 million, compared to adjusted net loss of US$13.6 million in the first quarter of 2024. The first quarter is typically the season with the lowest sales, which resulted in an inability to fully cover operating expenses.

Liquidity and Capital Resources

As of March 31, 2025, the Company had cash and cash equivalents and restricted cash of US$103.8 million, compared with US$110.7 million of cash balance as of December 31, 2024, the result was driven by the net loss for the first quarter of 2025, offset by US$12.8 million tighter working capital management. This cash position provides ample runway for the Company to invest and seize potential market opportunities.

The Company continued to manage its working capital and inventory efficiently and recorded inventory of US$64.1 million as of March 31, 2025. It went up a bit due to preparation for product launch, but the Company managed to improve big time on accounts receivable collection and accounts payable management. The Company will continue to manage working capital tightly.

By February 2025, we have successfully refinanced majority of our short-term debts maturing in 2025 to a multi-year long-term debt maturing in 2027 and beyond with a lower interest rate. Starting the first quarter of 2023, we have initiated the retirement of our short/long-term debt portfolio. As of the first quarter of 2025, the Company has retired a total of US$67.8 million of debt since early 2023, with US$11.5 million repaid in the first quarter of 2025. As our operating cash flow continues to strengthen, we will continue to optimize the capital structure for the company.

Shares Outstanding

As of March 31, 2025, the Company had a total of 229.9 million ordinary shares outstanding, representing the equivalent of 14.4 million ADSs assuming the conversion of all ordinary shares into ADSs.

Share Repurchase Program Update

The Company announced in its third quarter 2021 earnings release that the board had authorized a share repurchase program of up to US$20 million through November 2022. On November 21, 2022, the board authorized a 12-month extension of the Company’s share repurchase program. On November 20, 2023, the board further authorized the Company to extend its share repurchase program for another 12 months. On November 18, 2024, the board further authorized the Company to extend its share repurchase program for another 24 months. Pursuant to the extended share repurchase program, the Company may repurchase its shares in the form of ADSs and/or ordinary shares through November 2026 with an aggregate value equal to the remaining balance under the share repurchase program. As of March 31, 2025, the Company had used US$15.4 million to repurchase approximately 2.0 million ADSs. The Company expects to fund the repurchases under the extended share repurchase program out of its existing cash balance.

Outlook

For the second quarter of 2025, the Company’s management currently expects net revenues to be between US$50 million and US$55 million, which would represent an increase of approximately 23% to 35% from US$40.6 million in the second quarter of 2024.

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

Conference Call

The Company’s management team will hold a conference call at 9:00 p.m. Eastern Time on Wednesday, May 19, 2025 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 “Zepp Health Corporation”.

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

A telephone replay will be available one hour after the call until May 26, 2025 by dialing:

US Toll Free:           

+1-877-344-7529

International:

+1-412-317-0088

Replay Passcode:

5798726

About Zepp Health Corporation

Zepp Health Corporation (NYSE: ZEPP) is a global smart wearable and health technology leader, empowering users to live their healthiest lives by optimizing their health, fitness, and wellness journeys through its leading consumer brands, Amazfit, Zepp Clarity and Zepp Aura. Powered by its proprietary Zepp Digital Management Platform, which includes the Zepp OS, AI chips, biometric sensors and data algorithms, Zepp delivers cloud-based 24/7 actionable insights and guidance to help users attain their wellness goals. To date, Zepp has shipped over 200 million units, and its products are available in more than 90 countries and regions. Founded in 2013 as Huami Corp., the Company changed its name to Zepp Health Corporation in February 2021 to emphasize its health focus with a name that resonates across languages and cultures globally. Zepp has team members and offices across globe, especially in Europe and USA regions.

Use of Non-GAAP Measures

We use adjusted net income/(loss), a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. Adjusted operating expenses represent operating expenses excluding (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. Adjusted operating income/(loss) represents operating income/(loss) excluding: (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. Adjusted EBIT[4] represents net income/(loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, (vi) income tax (benefit)/expense, and (vii) interest income and interest expense. Adjusted net income/(loss) attributable to Zepp Health Corporation is a non-GAAP measure, which excludes (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, and (vi) tax effects of the above non-GAAP adjustments, and is used as the numerator in computation of adjusted net income/(loss) per share and per ADS attributable to Zepp Health Corporation.

We believe that adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in net income/(loss) and net income/(loss) attributable to Zepp Health Corporation. We believe adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation 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 EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation, should not be considered in isolation or construed as an alternative to net income/(loss), basic and diluted net income/(loss) per share and per ADS attributable to Zepp Health 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 EBIT and adjusted net income/(loss) 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.

[4] Adjusted EBIT is a non-GAAP financial measure, which is defined as net loss, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, (vi) income tax (benefit)/ expense, and (vii) interest income and interest expense.

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 recognition of the Company’s Amazfit-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 around the globe. 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:
Zepp Health Corporation
Grace Yujia Zhang
Email: ir@zepp.com 

Piacente Financial Communications
Tel: +86-10-6508-0677
Email: zepp@tpg-ir.com 

Zepp Health Corporation

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands of U.S. dollars (“US$”)

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

As of December 31,

As of March 31,

2024

2025

US$

US$

Assets

Current assets:

Cash and cash equivalents

91,069

76,429

Restricted cash

19,666

27,408

Accounts receivable, net

62,965

52,896

Amounts due from related parties

2,663

2,581

Inventories, net

56,789

64,136

Short-term investments

997

1,002

Prepaid expenses and other current assets

17,415

18,003

Total current assets

251,564

242,455

Property, plant and equipment, net

6,898

6,506

Intangible asset, net

7,091

15,220

Goodwill

9,581

9,581

Long-term investments

225,910

218,035

Deferred tax assets

17,465

17,488

Amount due from related parties, non-current

2,019

2,031

Other non-current assets

4,607

4,386

Operating lease right-of-use assets

3,458

3,051

Total assets

528,593

518,753

 

 

Zepp Health Corporation

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS – CONTINUED

(Amounts in thousands of U.S. dollars (“US$”)

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

As of December 31, 

As of March 31,

2024

2025

US$

US$

Liabilities

Current liabilities:

Accounts payable

51,077

60,742

Advance from customers

197

237

Amount due to related parties

2,477

1,036

Accrued expenses and other current liabilities

37,576

35,259

Income tax payables

508

506

Notes payable

61,679

78,452

Short-term bank borrowings

41,853

36,105

Total current liabilities

195,367

212,337

Deferred tax liabilities

3,117

3,090

Long-term borrowings

75,241

69,495

Other non-current liabilities

133

134

Non-current operating lease liabilities

2,007

1,662

Total liabilities

275,865

286,718

 

 

Zepp Health Corporation

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS – CONTINUED

(Amounts in thousands of U.S. dollars (“US$”)

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

As of December 31,

As of March 31,

2024

2025

US$

US$

Equity

Ordinary shares

26

26

Additional paid-in capital

278,116

278,775

Treasury stock

(14,993)

(15,450)

Accumulated retained earnings

28,618

8,877

Accumulated other comprehensive loss

(40,178)

(40,193)

Total Zepp Health Corporation shareholders’ equity

251,589

232,035

Noncontrolling interest

1,139

Total equity

252,728

232,035

Total liabilities and equity

528,593

518,753

 

 

Zepp Health Corporation

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands of U.S. dollars (“US$”)

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

For the Three Months Ended March 31,

2024

2025

US$

US$

Revenues

39,957

38,537

Cost of revenues

(25,257)

(24,176)

Gross profit

14,700

14,361

Operating expenses:

Selling and marketing

(10,769)

(13,841)

General and administrative

(6,420)

(6,518)

Research and development

(13,421)

(12,377)

Total operating expenses

(30,610)

(32,736)

Operating loss

(15,910)

(18,375)

Other income and expenses:

Interest income

1,012

581

Interest expense

(1,443)

(1,358)

Other income/(expense), net

68

4

Gain/(loss) from fair value change of long-term investments

2,103

(125)

Loss before income tax and loss from equity method investments

(14,170)

(19,273)

Income tax expenses

(72)

(110)

Loss before loss from equity method investments

(14,242)

(19,383)

Net loss from equity method investments

(559)

(358)

Net loss

(14,801)

(19,741)

Less: Net loss attributable to noncontrolling interest

(32)

Net loss attributable to Zepp Health Corporation

(14,769)

(19,741)

Basic and diluted net loss per share attributable to Zepp Health
Corporation

(0.06)

(0.08)

Basic and diluted net loss per ADS (16 ordinary shares equal to 1
ADS) 

(0.91)

(1.23)

Weighted average number of shares used in computing basic and
diluted net loss per share

259,525,679

256,410,171

 

 

Zepp Health Corporation

Reconciliation of GAAP and Non-GAAP Results

(Amounts in thousands of U.S. dollars (“US$”)

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

For the Three Months Ended March 31,

2024

2025

US$

US$

Total operating expenses

(30,610)

(32,736)

Share-based compensation expenses

2,283

589

Amortization of intangible assets resulting from acquisitions
and business cooperation agreements

567

635

Total adjusted operating expenses

(27,760)

(31,512)

Operating loss

(15,910)

(18,375)

Share-based compensation expenses

2,283

589

Amortization of intangible assets resulting from acquisitions
and business cooperation agreements

567

635

Adjusted operating loss

(13,060)

(17,151)

Net loss

(14,801)

(19,741)

Share-based compensation expenses

2,283

589

Amortization of intangible assets resulting from acquisitions
and business cooperation agreements

567

635

(Gain)/loss from fair value change of long-term investments

(2,103)

125

Loss from equity method investments

559

358

Income tax expenses

72

110

Interest income

(1,012)

(581)

Interest expense

1,443

1,358

Adjusted EBIT

(12,992)

(17,147)

Net loss attributable to Zepp Health Corporation

(14,769)

(19,741)

Share-based compensation expenses

2,283

589

Amortization of intangible assets resulting from acquisitions
and business cooperation agreements

567

635

(Gain)/loss from fair value change of long-term investments

(2,103)

125

Loss from equity method investments

559

358

Tax effects on non-GAAP adjustments

(91)

(103)

Adjusted net loss attributable to Zepp Health Corporation

(13,554)

(18,137)

Adjusted basic and diluted net loss per share attributable to 
Zepp Health Corporation[5]

 

(0.05)

 

(0.07)

Adjusted basic and diluted net loss per ADS (16 ordinary
shares equal to 1 ADS) 

 

(0.84)

 

(1.13)

Weighted average number of shares used in computing
adjusted basic and diluted net loss per share

 

259,525,679

 

256,410,171

Share-based compensation expenses included are follows:

Selling and marketing

250

42

General and administrative

1,060

286

Research and development

973

261

Total

2,283

589

[5] Adjusted diluted net income/(loss) is the abbreviation of adjusted net (loss)/income attributable to Zepp Health Corporation,
which is a non-GAAP measure and excludes (i) share-based compensation expenses, (ii) amortization of intangible assets
resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment,
(iv) impairment loss from long-term investments, and (v) income/(loss) from equity method investments, and (vi) tax effects of
the above non-GAAP adjustments, and is used as the numerator in computation of adjusted basic and diluted net loss per ADS
attributable to Zepp Health Corporation.

 

 

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Technology

LG INSTAVIEW™ REFRIGERATOR SURPASSES 5.3 MILLION IN GLOBAL SALES

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Chosen by Customers Worldwide, LG’s Instaview Refrigerator Innovation Continues to Redefine the Kitchen Experience a Decade After Its Debut

News Summary

LG Electronics’ InstaView™ refrigerator celebrates the 10th anniversary of its 2016 launch by exceeding 5.3 million units in cumulative global sales.LG’s iconic “Knock Twice, See Inside” feature broke convention, offering a blend of user convenience, energy efficiency, and aesthetic value that set a new industry standard.LG InstaView refrigerators continue to gain traction worldwide, leading the refrigerator category in North America while seeing significant growth across Europe, Asia and Latin America.Over the past decade, LG InstaView refrigerator has won numerous prestigious design and innovation awards, including Red Dot, iF, IDEA and CES.

SEOUL, South Korea, July 24, 2026 /PRNewswire/ — LG Electronics’ (LG) InstaView™ refrigerator, which allows users to see inside without opening the door, has reached a major milestone on its 10th anniversary, surpassing 5.3 million units in cumulative global sales since its 2016 launch.

Trusted by Consumers Around the World

Since launching the LG InstaView refrigerator in 2016, LG has sold a remarkable 5.3 million units – equivalent to selling roughly one unit every minute.

LG InstaView refrigerator has seen strong customer demand globally, with North America representing its strongest market and accounting for about 30 percent of cumulative sales to date. In Europe, InstaView refrigerator has also been well received by consumers who place high value on energy efficiency, sustainability and food preservation performance. Sales are also steadily rising in Asia and Latin America, driven by growing demand for premium appliances.

An Innovation That Redefined the Refrigerator

InstaView redefined how consumers interact with their refrigerators by allowing them to see inside without opening the door. This feature allows users to check the fridge’s contents without opening the door and helps reduce unnecessary cold-air loss associated with frequent door opening. Over the past decade, its innovation has been recognized by international media and honored with numerous accolades from major global design and innovation awards, including the Red Dot Design Award, iF Design Award, IDEA, and the CES Innovation Award.

From Functional Benefit to Lifestyle Value

LG’s analysis of global customer reviews shows that consumer appreciation for the InstaView refrigerator and its eponymous feature has evolved over time, shifting from an initial focus on the functional benefits to the overall sense of satisfaction that it provides. While early feedback centered on the convenience of knocking twice to see inside and the reduction of cold air loss, more recent reviews increasingly highlight InstaView’s refined design and the enjoyment it brings to everyday kitchen use.

“For a decade now, LG InstaView refrigerator has stood as a testament to our leadership in the home appliance market and to our deep understanding of customers’ lifestyles,” said Baek Seung-tae, president of the LG Home Appliance Solution Company. “This milestone reflects our success in creating not just an innovative feature, but a more convenient and enjoyable kitchen experience. Building on our advanced AI, refrigeration and food preservation technologies, we will continue to lead the evolution of the kitchen experience with customer-centric innovations.”

About LG Electronics Home Appliance Solution Company

The LG Home Appliance Solution Company (HS) is a global leader in home appliances and AI home solutions. By leveraging industry-leading core technologies, the HS Company is committed to enhancing consumers’ quality of life and promoting sustainability. The company develops thoughtfully designed kitchen and living appliance solutions and has recently integrated LG’s Robot Business Division to incorporate advanced robot technologies into its home solutions. Together, these products offer enhanced convenience, exceptional performance, efficient operation and sustainable lifestyle solutions. For more news on LG, visit www.LG.com/global/newsroom/

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Alpha Ladder Hosts Globalization Forum, Debuts Proprietary AI Platform AgentX

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HONG KONG, July 24, 2026 /PRNewswire/ — On 9 July, Alpha Ladder hosted a tech globalization forum at LEAP East 2026 in Hong Kong under the theme “Connecting Industrial Innovation, Unlocking New Global Growth Opportunities” — and used the occasion to officially unveil AgentX, its proprietary AI‑powered solution.

The session brought together more than a dozen distinguished speakers from sectors spanning artificial intelligence, embodied intelligence, biotechnology, fintech, enterprise services, and legal — all of whom shared first‑hand observations and practical experience navigating global expansion.

Paul Pang, Head of AI at Alpha Ladder, unveiled the Group’s new financial AI agent, AgentX, during the product launch. He observed that the rapid proliferation of AI agents has rendered traditional cross‑border financial delivery models ill‑suited to the evolving AI industry landscape. Conventional local plugin integrations carry significant risks, including code tampering, data leakage, and compromised asset security.

He also noted that expanding enterprises frequently face a persistent disconnect between their business tools and financial pipelines. Core operational systems — covering expense reimbursement, payroll, and account reconciliation — often operate in silos, isolated from cross‑border payment and treasury management frameworks. The resulting reliance on manual workflows leads to chronic inefficiency and inflated operating costs.

To tackle these industry pain points head‑on, Alpha Ladder introduced AgentX — a purpose‑built platform grounded in its proprietary AI‑native architecture. Powered by the Core Finance skill suite and the standardised MCP protocol, AgentX is compatible with all major large language models and enables AI agents to directly access Alpha Ladder’s full spectrum of cross‑border financial services.

The platform is further equipped with VisionX, an intelligent risk control engine that performs cross‑verification across multiple data sources to significantly sharpen the detection of on‑chain risks. A built‑in regulatory sandbox ensures full segregation of transactions and data within compliance boundaries, effectively closing critical security gaps that have long plagued the industry.

Beyond its core risk and compliance capabilities, AgentX offers extensive ecosystem adaptability, enabling rapid integration with vertical use cases such as travel reimbursement, global payroll, and asset management — creating a unified, closed‑loop framework that bridges business operations and finance. Through its open ecosystem model, AgentX empowers small and mid‑sized enterprises expanding globally by tearing down the silos between operational workflows and cross‑border financial services. In doing so, it delivers one‑stop, intelligent cross‑border financial services and drives comprehensive AI‑driven transformation across globalising industries.

Yao Yuan, Vice President of AgiBot for MENA, Turkey, and Asia Pacific, remarked that 2026 marks the year AgiBot transitions from R&D to commercial deployment. Having spent the previous three years honing its products and technology while consolidating its position in the domestic market, the company is now scaling up commercial operations and accelerating its global expansion.

He articulated three core pillars underpinning AgiBot’s global strategy. First, the company is moving to seize the critical window for mass industrial adoption as the embodied intelligence sector enters a new growth cycle. Second, humanoid robots are emerging as a key enabler of industrial upgrading and national digital transformation strategies across economies. Third, overseas deployment, data accumulation, and localized delivery are creating a valuable feedback loop — one that feeds back into domestic R&D and forms a closed loop connecting global technology development with commercial execution.

Luo Yi, General Manager of 51Aes South China (a subsidiary of 51World), shared that the company was officially listed on the Hong Kong Stock Exchange on 30 December 2025 under the ticker 6651.HK. Guided by its vision to digitally replicate the Earth’s 510 million square kilometres, 51World is committed to building a seamless bridge between the digital and physical worlds.

As the industry enters a new era of Physical AI, physically accurate digital simulation environments have become a fundamental prerequisite for large‑scale training of embodied intelligent systems. Leveraging three core pillars — global spatial foundation models, simulation training platforms, and synthetic data pipelines — the company has built a complete, closed-loop technology system. Its commercial portfolio comprises three flagship offerings: the 51Aes digital twin platform, the 51Sim synthetic data and simulation platform, and the 51Earth digital earth platform.

As the core engine powering Physical AI, 51Sim delivers high‑fidelity simulation training environments and robust synthetic data generation capabilities for embodied intelligence sectors including autonomous driving, smart equipment, and robotics. It enables efficient training and validation of AI systems within virtual environments and currently serves over 100 enterprise clients across autonomous mobility and embodied intelligence verticals. Looking ahead, the company will continue to deepen the integration of AI with the real economy, unlocking greater technological value and industrial impact across broader global markets.

Xu Leyang, Co‑founder of Seekee, observed that vast segments of the global population have yet to gain meaningful access to AI. With “everyday users” at the heart of its mission, Seekee is building accessible, consumer‑facing AI products tailored for the world’s two billion ordinary people.

The team has strategically focused on Latin America — an underserved blue‑ocean market largely overlooked by major tech players. Few leading global large language models have dedicated meaningful R&D or localisation efforts to Spanish and Portuguese, the region’s dominant languages. By capitalising on the region’s distinctive linguistic landscape, local user behaviour patterns, and a proprietary repository of region‑specific language data amassed over time, Seekee has built a competitive moat that is difficult to replicate.

According to Sensor Tower, a mobile analytics platform, Seekee ranked eighth globally in the 2025 generative AI app download charts. Within Latin America, its brand recognition is on par with ChatGPT. Launched just over a year ago, the platform has already amassed tens of millions of monthly active users and demonstrated strong user retention.

Wu Xin, Partner and Global Head of AI Applications at BorderX Lab, delivered a presentation themed “Power of Agent Plus.” Drawing on real‑world deployments within the fashion and luxury sectors, he explained that AI agents are fundamentally reshaping traditional cross‑border industries and unlocking significant efficiency gains across the entire value chain.

E‑commerce, he noted, is undergoing a paradigm shift. Competition has moved beyond capturing user attention to precisely identifying consumer intent, with AI agents emerging as a critical instrument for surfacing latent global consumption demand. Powered by proprietary technology and data infrastructure, BorderX Lab has built a global consumer network that is helping redefine how Chinese cross‑border consumer tech reaches the world.

He further observed that agent‑enabled payments will form the bedrock of agent‑driven e‑commerce, and expressed optimism about jointly exploring blue‑ocean opportunities with Alpha Ladder.

Yang Mingyuan, Senior Investment & Financing Manager at QCraft, observed that among the broader Physical AI landscape, autonomous driving stands out as the first segment to achieve mass production at scale, sustainable commercial profitability, and rapid real‑world deployment.

The company’s core competitive advantage lies in its unified, self‑developed technical foundation — one that underpins both its L2+ advanced driver assistance systems and its multi‑scenario L4 autonomous driving capabilities. This homologous architecture also serves as a strategic springboard for QCraft’s broader push into general Physical AI. Its fully in‑house toolchain and data platform form a formidable competitive moat, while the company’s “Autonomous Driving Super Factory” system standardises the entire model training and simulation testing lifecycle — covering the full data pipeline to enable continuous, high‑velocity iteration and optimisation of its algorithm models.

He Liang, Chief Financial Officer of Yidianyun, shared that the company — a leading domestic provider of office IT infrastructure — is now pivoting to become an office AI infrastructure enabler. Its mission is to lower the barrier to AI compute access for enterprises through remanufacturing technology and subscription‑based models.

Yidianyun has built a four‑tier business framework that underpins its cost and service advantages, with a strategic focus on edge‑side AI hardware across AI PCs, AI workstations, and AI servers. He noted that direct procurement of AI hardware entails substantial one‑off capital expenditure for small and medium‑sized enterprises. Subscription models, by contrast, significantly ease funding pressure and hedge against upfront investment risk — a key factor driving the rapid growth of its proprietary AI workstation business.

For overseas expansion, Yidianyun plans to launch pilot cross‑border operations from Hong Kong as its initial hub, with the potential to extend its reach to additional international markets in due course.

Liu Chenxin, Assistant to the Director of the National Institute of Biological Sciences, Beijing (NIBS), shared insights at the forum. With a strong track record in research commercialisation, NIBS has incubated a number of benchmark biopharma companies including Huahui Anjian, Vitaraylon, and Denovo Biotech. Drawing on years of translational experience, the institute has comprehensively upgraded its established commercialisation framework and officially launched BISON — a new innovation incubation hub designed to tackle the persistent high‑risk challenges inherent in biopharmaceutical investment through a unique translational model and commercial logic.

Unlike conventional technology‑driven incubation models, BISON places market demand at the core of its approach. It partners with leading tertiary hospitals to identify clinical pain points at the front end, while aligning with pharmaceutical companies at the back end to reverse‑engineer original drug pipelines based on industry needs. Looking ahead, BISON will continue to leverage its deep foundation in original research to incubate high‑value biopharmaceutical innovations, helping domestically developed first‑in‑class drugs reach global markets and supporting the international expansion of China’s biotech industry.

Lei Zhicheng, Deputy General Manager of Mango Finance Limited, observed that the institutional advantages of Hong Kong’s capital market, combined with deepening economic and trade ties with the Middle East, have opened up new channels for Chinese tech innovators to access global capital. Closely aligned with policy directions and enterprises’ internationalisation ambitions, Mango Finance is focused on listing incubation and cross‑border expansion services, fostering service synergies through close collaboration with a diverse network of professional partners.

As an established securities firm, the company is steadily expanding its digital finance footprint in step with regulatory developments. Lei expressed keen interest in establishing system‑level connectivity with Alpha Ladder, and leveraging AI and cutting‑edge digital technologies to accelerate the digital transformation and upgrade of traditional securities operations.

Kevin Chen, CEO of Boost Bank and Founder of Aicapay, observed that as the Belt and Road Initiative continues to gain momentum, emerging markets across Africa, the Middle East, and Latin America are undergoing rapid economic and industrial transformation. Combined with surging outbound investment and cross‑border trade from China, the cross‑border finance sector in these markets presents enormous growth potential.

Boost Bank specialises in building localised compliance frameworks. Backed by multi‑jurisdictional licences, on‑the‑ground risk control teams, and deep‑rooted local financial resources, the company has established a fully integrated, end‑to‑end cross‑border capital loop — delivering tailored, client‑specific solutions for enterprises expanding globally. Chen underscored the strong strategic complementarity between the two firms and signalled Boost Bank’s intent to join forces with Alpha Ladder in building a fintech service ecosystem that empowers Chinese companies to seize opportunities in emerging markets worldwide.

Yin Li, Partner at Shanghai Landi Law Firm, shared that the firm established its first overseas offices a decade ago, making it one of China’s early legal practices to focus on cross‑border corporate services. It provides Chinese enterprises with full‑spectrum legal support spanning overseas investment filing, intellectual property protection, and cross‑border capital repatriation.

Against a backdrop where overseas expansion has evolved from conventional trade to high‑value industrial globalisation — marked by the coordinated export of technology, production capacity, and capital — and given the strong alignment between Middle Eastern development agendas and the Belt and Road Initiative, Chinese enterprises pursuing comprehensive deployment in the region have generated robust demand for localised legal services. This, he noted, is the key driver behind the firm’s intensified focus on the Middle East market.

Yin emphasised that proactive compliance is the core moat for enterprises going global. Businesses must conduct thorough assessments of local regulatory and legal frameworks before entering overseas markets. Leveraging its “on‑the‑ground global presence” model — with coordinated teams across China and multiple international jurisdictions — the firm conducts advance due diligence to identify and mitigate legal risks inherent in cross‑border operations.

About Alpha Ladder:

Alpha Ladder is a Singapore-regulated fintech group focused on developing a world-leading, one-stop, fully compliant financial infrastructure — delivering secure, efficient cross-border financial solutions for enterprises going global. The Group holds core licences issued by the Monetary Authority of Singapore (MAS), covering securities, futures, fund management, custody, RWA asset exchange, and Major Payment Institution (MPI). We also maintain regulatory approvals in Canada, and are actively expanding our footprint across key global financial hubs including Switzerland, Dubai, and Hong Kong, building a globally compliant regulatory network. By leveraging AI to reshape compliance, risk management, and treasury operations, Alpha Ladder empowers enterprises to reduce costs, enhance efficiency, and achieve sustainable global growth.

For more information, please visit our official website: www.alphaladder.hk

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UOB Asset Management Highlights Global Resilience Despite Heightened Uncertainty

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SINGAPORE, July 24, 2026 /PRNewswire/ — UOB Asset Management (UOBAM) has released its 3Q 2026 Quarterly Investment Strategy, highlighting the global economy’s resilience in the face of persistent headwinds, including inflation, tariffs, geopolitical tensions and energy market volatility.

Despite repeated challenges over the past 18 months, economic activity has remained robust. Corporate earnings have held up across major regions, labour markets have remained resilient, and continued investment in artificial intelligence (AI) infrastructure is providing a powerful tailwind for growth.

While uncertainty remains elevated, the global economy’s resilience has reinforced confidence that the current expansion remains durable, even as risks continue to evolve.

On interest rates, UOBAM’s base case is that the US Federal Reserve is more likely to remain on an extended pause than embark on a new rate-hiking cycle. Although inflation remains sticky and recent geopolitical developments have raised upside risks, the firm continues to see evidence of moderating underlying inflation pressures, particularly in housing and wages.

Within equities, UOBAM remains positive on Asia and has upgraded Onshore China to overweight from underweight. Despite strong market gains, Asia continues to trade at a valuation discount to global equities, even as earnings growth has accelerated. UOBAM believes this combination of strong earnings momentum and attractive valuations presents a compelling opportunity for investors. In China, improving industrial profits and continued growth in higher-value sectors have strengthened the investment case for selected areas of the market, particularly those linked to AI, semiconductors, energy infrastructure and advanced manufacturing.

Anthony Raza, Head of UOBAM Multi-Asset Strategy, said, “The key story for investors is that the global economy has repeatedly withstood shocks without derailing growth. Despite a more uncertain backdrop, we continue to see attractive opportunities in Asia, where strong earnings growth is supported by compelling valuations, and we maintain gold as a preferred allocation as investors navigate an increasingly complex environment.”

In its asset allocation strategy, UOBAM remains overweight equities, diversified across fixed income and underweight cash. The firm continues to favour the United States and Asia within equities, while retaining a positive outlook on gold. Supported by strong central bank demand and its role as a safe-haven asset during periods of uncertainty, gold remains an important source of portfolio diversification.

For deeper insights across equities, fixed income, currencies and commodities, read the full 3Q 2026 Investment Strategy: https://uobam.com.sg/qis3q26

About UOB Asset Management

UOB Asset Management Ltd (UOBAM) is a wholly-owned subsidiary of United Overseas Bank Limited. Established in 1986, UOBAM has 40 years of experience in managing collective investment schemes and discretionary funds in Singapore, making us among the largest unit trust managers by assets under management. As of 30 June 2026, we manage 63 unit trusts in Singapore and together with our subsidiaries, oversee S$44.3 billion in clients’ assets.

Headquartered in Singapore, UOBAM has a strong presence across Asia, with business and investment offices in Brunei, Indonesia, Japan, Malaysia, Thailand and Vietnam. Our network includes UOB Islamic Asset Management Sdn Bhd in Malaysia, a joint venture with Ping An Fund Management Company Limited (China) and strategic alliances with partners such as Wellington Management Singapore.

UOBAM is one of the region’s most awarded asset managers, with over 380 awards won. In 2025, we were recognised as the Best Regional Asset Management Company by the Asia Asset Management and previously named Best Asset Management House in Asia – 20 Years in 2023. Our digital innovation has also earned top honours, including Best Digital Wealth Management in Asia[1] and Best Robo Advisory Initiative[2] for four consecutive years as of 2025.

As a leader in sustainable investing, UOBAM was awarded Best application of ESG in ASEAN[3] (2023) and has received multiple sustainability accolades in Indonesia and Thailand. Our artificial intelligence capabilities were also recognised with the Most Innovative Application of Artificial Intelligence (ASEAN) for three consecutive years[4].

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[1] Awarded by Asia Asset Management

[2] Awarded by The Digital Banker for the Global Retail Banking Innovations Award

[3] Awarded by Asia Asset Management

[4] As of 2026, by Asia Asset Management

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