Today, Huami Technology released its fourth-quarter and full-year financial report for 2019. In the fourth quarter of 2019, the company's operating income hit $303.3 million, a year-on-year increase of 72.4%. Its net profit hit $30.7 million and shipments also recorded a 59.8 % growth rate. For the full year of 2019, Huami Technology's total revenue for the year is $ 834.9 million, an increase of 59.4% relative to 2018. Its annual net profit is $90.5 million, an increase of 32.8%. In terms of shipments, the total shipment in the fourth quarter is 14.7 million units, a year-on-year increase of 59.8%. The total shipments for 2019 hit 42.3 million units, an increase of 53.8% relative to the 27.5 million units for 2018.
Huang Wang, founder, chairman and CEO of Huami Technology, said that 2019 is a great year for the company. Huami is now a leading smart wearable manufacturer in the industry. In the fourth quarter, Huami's growth was mainly due to the successful launch of new products, sales, and marketing. Its cooperation with third-party channels also helped its expansion in the international market.
Huami's partnership with Xiaomi is strong as ever and we are expecting the Mi Band 5 later this year.
Huami's management is still full of confidence in the forecast for the first quarter of 2020. Its net income is expected to be between $140 million and $145 million, an increase of approximately 22.6% to 26.3% from the $114 million in the first quarter of 2019.
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