On August 29, Yunmi Technology, a subsidiary of Xiaomi Ecological Chain, submitted an IPO application document to the US Securities and Exchange Commission. It plans to raise US$150 million through the initial public offering of the US Stock Exchange. The stock code is 'VIOT'. Following the Xiaomi smart bracelet provider Huami, the second millet eco-chain company to go to the US.
Yunmi Technology to the US IPO
Yunmi Technology was founded in Foshan, Guangdong in 2014. The company's core vision is to create a smart home ecosystem consisting of IoT home appliances. Currently, the company has introduced refrigerators, kitchen appliances, water purifiers, air purifiers, etc. In-home appliances, and extensive use of IoT technology, they are combined into a large system in tandem. For example, Yunmi's refrigerator with voice recognition can receive temperature settings, answer calls, play music and recommend recipes by voice. Wait for the operation.
According to the prospectus, the main income of Yunmi is currently from the sales of its Internet of Things products. The company achieved revenue of approximately US$132 million (approximately 873 million yuan) in 2017, an increase of 179.4% over 2016. The net profit for 2017 increased by 473.5%. %, reaching 14.1 million US dollars (about 93.2 million yuan). The current major shareholders of Yunmi Technology include founder Chen Xiaoping, holding 41.3%; Shun Capital, holding 20.5%; Red Better Limited holding 19.5%; Sequoia Capital holds 6.3%. In view of the fact that Shun Capital and Red Better Limited are controlled by Lei Jun, Xiaomi Technology has actually become the second largest shareholder of Yunmi.
It is reported that the IPO proceeds will be used for cloud rice R&D and marketing plans, as well as for potential strategic investments and acquisitions as well as general corporate purposes.
At present, there are more than 290 Xiaomi ecological chain holding companies, including POS machine R & D manufacturer Shanghai Senmei Technology, rice cooker and kitchen appliance manufacturer Chunmi, smart home appliance manufacturer Zhimi and so on.
Standing on the intelligent air outlet
With the development of artificial intelligence technology, the voice of smart home products is getting higher and higher in the market. IResearch data shows that China's Internet of Things smart home products are expected to grow at a compound annual growth rate of 20% or more, by 2022 or Reached $1308 billion.
As a cloud-based technology that has grown up based on Internet genes, in the eyes of the industry, it is 'have a soul'. Wu Xianjian, deputy secretary-general of the China Household Electrical Appliances Association, said, 'Yunmi is a home appliance, and has got rid of the concept of a single home appliance. The main focus is smart integration, which is the biggest difference between home appliances and traditional brands in the Xiaomi ecological chain.
In fact, 'Xiami' is a self-contained label. Although it was only established for four years, it relies on big trees to enjoy the coolness. In 2018, Yunmi's official flagship store has successively entered platforms such as Tmall, Jingdong and Suning Tesco; At the same time, as of June, Yunmi has opened more than 1,000 'Yanmi Whole House Internet Appliance Experience Center' across the country, covering 34 provinces, municipalities and autonomous regions, 240 prefecture-level cities.
For traditional home appliance manufacturers, enterprises such as Yunmi are like a 'cracking market squid', which brings Internet-based thinking to the industry and brings worries about 'outside barbarians' on the one hand. In the interview space of the China Kitchen and Electricity Summit Forum, some traditional brands of kitchen and bathroom products believe that 'the kitchen and water heater industry still has technical barriers and service barriers compared to white electricity, and temporarily do not have to worry about the cross-border of Xiaomi'. By the time the forum was held in 2018, the Yunmi flagship store had introduced a full line of products including smoke stove washing, burning and electric water heaters in addition to ice washing products.
Wang Xinbiao, the head of Galanz kitchen electric appliance, has long observed the growth path of Xiaomi. He believes that 'Xiami is China's first 'unbounded enterprise', manufacturing, investment, internet, new retail are all involved, but it is difficult to give a specific definition. Xiaomi Ecology The strength is that even if it does not have the accumulation of a certain product technology, it can take advantage of capital, immediately acquire R&D personnel and mature technology, and then open up the upstream and downstream supply chain, and move at a lower cost. This barbaric growth The impact is still very big. '
Cai Xiaojun, deputy general manager of Vantage Marketing, thinks that 'cloud and other companies may have less influence on high-end products. However, there are advantages in low-priced products. On the one hand, Xiaomi has its own flow, and many young people use it. When Xiaomi grew up, it was a thorough 'rice noodles', a new thing under Xiaomi, they are willing to try; on the other hand, for some users who buy low-end products, compared to the small brands that are not known , knockoff goods, they are more willing to believe that companies with brand power, such as Yunmi, at least in quality assurance. '