Vesync Co., Ltd Provides Earnings Guidance for the Six Months Ended June 30, 2023
July 28, 2023 at 04:40 am
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Vesync Co. Ltd. provided earnings guidance for the six months ended June 30, 2023. For the period, the company expects to record an increase of approximately 70% to 120% in the profit attributable to owners of the parent.
The expected increase in profit attributable to owners of the parent Company for the Relevant Period was mainly attributable to the (i) increase in sales of the Group in both Amazon and non-Amazon channels; (ii) cost reductions of the Group resulting from lower international freight rates and other cost savings as compared to that of the first half of 2022; and (iii) enhancement in operational efficiency of the Group.
Vesync Co., Ltd is an investment holding company. The Company is engaged in the small home appliance online market. The Company is principally engaged in research and development, manufacture and sale of smart household appliances and smart home devices. It primarily designs, develops and sells small home appliances under its three core brands, namely, Levoit for home environment appliances; Etekcity for smart home gadgets, health monitoring devices, outdoor recreation products and personal care products; and Cosori for kitchen appliances and dining ware. Its products include Etekcity Smart WiFi Fitness Scale, Cosori Smart Air Fryer, and Levoit Cordless Stick Vacuum, among others. Its VeSync App enables users to achieve centralized control of smart home devices for the home automation experience. Its products are manufactured in the Peopleâs Republic of China (the PRC) and sold to customers in the United States, Canada, the United Kingdom, France, Germany, Spain, Italy, and Japan.
VESYNC CO., LTD 
