Vesync Co Ltd
02148: XHKG (HKG)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| HKD 2.90 | Hwj | Yptqskw |
Vesync’s 2022 Net Loss Mainly Attributable to Impact of Voluntary Recall; Recovery Expected in 2023
/s3.amazonaws.com/arc-authors/morningstar/2a921230-1c64-42c5-8f93-672d46002cce.jpg)
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.