Vesync Co Ltd
02148: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$9.40 | Pfm | Qnzvkry |
Vesync’s 2022 Net Loss Mainly Attributable to Impact of Voluntary Recall; Recovery Expected in 2023
Business Strategy and Outlook
Vesync focuses on online marketing and sales of self-designed and self-developed small home appliances and smart home devices, mainly through Amazon (more than 80% of sales in 2022). According to NPD Group, in 2022, Vesync’s Levoit air purifier ranked number 1 in the United States in terms of sales volume and sales value, with market share of 33% and 23%, respectively.