Zepp Health Corp. (China)

The Company primarily engages in the business of developing and manufacturing smart, wearable technological devices in the People's Republic of China (“PRC”), and sells the products in PRC and overseas.
The Company s mission is to connect health with technology. In pursuit of that mission, the Company has developed substantial proprietary technology, which has enabled its company to become a significant global player in producing consumer health and fitness devices.
The Company offers smart bands, watches, and scales; and smart hearable products, home treadmill, sportswear, home appliances, and smart watch accessories under the Xiaomi and Amazfit brands. It provides charts and graphs to display analysis of the activity and biometric data collected from users through its Zepp Life and Zepp mobile apps.
The Company identified two operating segments: Xiaomi wearable products and Self-branded products and others.
- The Xiaomi wearable products segment comprise of sales of Xiaomi-branded products.
- The self-branded products and others segment comprises of self-branded products. Both Xiaomi wearable product and Self-branded products and others have been identified as reportable segments.
HISTORY
2013 The Company commenced operations in December 2013 through Anhui Huami Information Technology Co., Ltd., or Anhui Huami, to develop, manufacture and sell smart wearable devices.
2014 In July 2014, the Company incorporated Huami (Beijing) Information Technology Co., Ltd., or Beijing Huami, to expand its operation.
In December 2014, the Company incorporated Huami Corporation in Cayman Islands as our offshore holding company to facilitate financing and offshore listing. Shortly following its incorporation, Huami Corporation established a wholly-owned Hong Kong subsidiary, Huami HK Limited.
From December 2014 to April 2015, its Cayman holding company Huami Corporation issued ordinary shares and preferred shares to the holding vehicles of the then shareholders of Anhui Huami, in proportion to these shareholders' then respective equity interest percentages in Anhui Huami.
2015 Hong Kong Zepp Holding Limited established a wholly-owned subsidiary in China, Beijing Shunyuan Kaihua Technology Co., Ltd., which it refers to as Shunyuan Kaihua or its WFOE in this annual report in February 2015
2018 The Company s ADSs commenced trading on the NYSE under the symbol “HMI” on February 8, 2018.
2019 The Company completed a registered follow-on offering of its ADSs, raising US 6.6 million in net proceeds after deducting underwriting commissions and discounts and the offering expenses payable by the Company in April 2019.
2021 The Company, through Anhui Shunyuan Xinke Management Consulting Partnership (Limited Partnership), one of its subsidiaries in China, acquired 29.99 of the total outstanding shares of Jiangsu Yitong, a PRC company listed in Shenzhen Stock Exchange, for an aggregate consideration of RMB959.7 million in cash to expand the healthcare ecosystem for Chinese market in the long term in February 2021.
Effective February 25, 2021, the Company changed its corporate name from “Huami Corporation” to “Zepp Health Corporation,” and its trading symbol at the New York Stock Exchange from “HMI” to “ZEPP.”
2022 The Company, through Anhui Shunyuan Xinke Management Consulting Partnership (Limited Partnership), acquired another 0.01 of the total outstanding shares of Jiangsu Yitong for an aggregate consideration of RMB232,847 in May 2022.