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Zepp Health releases disappointing Q1 figures, share price slumps

Zepp Health increased its Q1 sales to CNY 1.1B (5.4% YoY). Total shipment volume in Q1 was 6.3 million units. Sales of its brands amazfit and Zepp increased 84.4% YoY, with sales of products manufactured for Xiaomi declining 34.3% YoY. Zepp has a very strong historical cooperation with Xiaomi. The company made a loss of CNY 40M (the last Q1, it made a profit of CNY 19.2M). Zepp is a cloud-based healthcare services provider with world-leading smart wearable technology.


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