Core Viewpoint - The article highlights the significant turnaround of Huami Technology, transitioning from dependency on Xiaomi to establishing its own brand Amazfit, leading to renewed market interest and projected revenue growth of 30% year-on-year in Q2 2025 after three years of stagnation [1][2]. Group 1: Company Transformation - Huami Technology's journey began in 2014 as a partner in Xiaomi's ecosystem, achieving rapid growth through the Xiaomi Mi Band, but faced challenges due to over-reliance on Xiaomi, with revenue from Xiaomi products exceeding 70% for years [3]. - The company initiated a strategic shift towards developing its own brand, Amazfit, starting in 2015, which now accounts for 100% of its revenue as of Q1 2025, although the absolute revenue from this brand initially struggled to fill the gap left by the exit from Xiaomi [3][4]. Group 2: Product Strategy - Huami has adopted a multi-tiered product strategy, creating a clear product pyramid that includes a "light smart" series under 1000 CNY for the mass market, a "sports series" priced between 1000-2000 CNY for serious athletes, and a premium outdoor product line above 2000 CNY [4]. - This strategy has led to an increase in gross margin from 12.34% in 2015 to 38.46% in 2024, indicating improved profitability as the company scales [4]. Group 3: Market Positioning - Huami differentiates itself in the wearable market by focusing on "professionalism" and "full-scene adaptability," offering advanced health monitoring and dynamic tracking for various sports, which positions its products as essential tools rather than mere gadgets [5][6]. - The company has built a strong technical foundation over the past decade, leveraging vast user data for algorithm development and investing in proprietary chip technology to enhance device functionality [6]. Group 4: Competitive Landscape - Huami's flagship product, the T-Rex3, offers competitive features at a significantly lower price point compared to Garmin's Fenix 8, showcasing Huami's ability to deliver high-quality products at accessible prices [7]. - The company has established a global marketing strategy utilizing social media platforms to enhance brand visibility and credibility, including partnerships with professional athletes [6][8]. Group 5: Industry Outlook - The wearable device market is positioned as a critical component of the broader health ecosystem, facilitating proactive health management and connecting various stakeholders in the healthcare industry [12]. - Despite the potential for growth, the capital market has yet to fully recognize the transformative changes within Huami, as evidenced by its current market valuation of approximately 1.9 billion USD, significantly lower than competitors like Garmin [14][15][17].