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Huami Corporation American Depositary Shares each representing four Class A
Huami's latest results show shipments growth decelerating in Q2, while disappointing Q3 guidance suggests that sales of the Mi Band 5 may have been lackluster.
Huami's gross margin profile has also taken a hit.
Huami blames the coronavirus for the weakening sales in Q2, though its primary Chinese market is among the healthiest in the post-pandemic world.
Huami shares are cheap at a ~10x forward P/E, but this lowball multiple reflects its uncertain growth trajectory.