According to reports in Chinese local media, Huami’s CFO Cui Dawei submitted resignation for personal reasons, effective on October 1, 2020.
After the resignation, Cui will continue to work as company consultant during the transitional period.
Huang Wang, founder, chairman and CEO of Huami, said that they greatly appreciate the contributions that Cui has made to Huami during his tenure with the company, leading their IPO and follow-on offering efforts, providing strong financial leadership to help grow both domestic and international markets, building an experienced public company finance team, and strengthening their rigorous corporate governance and internal controls systems. They respect Cui’s decision and wish him the very best in his future pursuits.
At the same time, Huami has appointed Deng Cheng as new CFO, effective on October 1, 2020. Before joining Huami, Deng worked for Royal Philips, where his latest position was global head of finance for Philips domestic appliances division. Deng served Philips for 17 years and he has experience in accounting, financial management, manufacturing, and international business.
Huami also announced that the company’s performance guidance provided in the second quarter conference call on August 18 was still valid. At that time, Huami predicted that the company’s net operating revenue for the third quarter of 2020 would be between CNY2.1 billion and CNY2.15 billion, representing a year-on-year increase of 12.9% to 15.6%.