A global gateway to merchant BIoT and AI transformation; initiate with Buy

研报英文原文证据摘录

A global gateway to merchant BIoT and AI transformation; initiate with Buy

30 June 2026

Other Financial Services

Sunmi

An open and compatible platform for developers

Sunmi provides developers with various tools and services that cover the entire

development lifecycle, from coding and deployment to operations and

maintenance.

Its BIoT PaaS platform and SUNMI App Store offer features like gradual application

rollout, remote updates, and data analytics, enabling continuous software

refinement without complex backend infrastructure. SUNMI OS has approximately

800 highly compatible APIs that standardize diverse hardware specifications,

allowing business application developers to easily adapt their applications to over

60 types of smart devices. This broad compatibility ensures businesses can

smoothly transition to next-generation smart devices while maintaining

performance.

Distribution channels

Sunmi primarily attracts customers and sells products through offline channels,

including advertisements, participating in tenders, collaborating with industrial

associations and chambers of commerce, and product displays at SUNMI Home

and various conferences. While the company also maintains online sales via its self-

operated flagship stores on e-commerce platforms, its offline strategy

encompasses both direct sales and distribution networks (1,139 distributors

worldwide). Notably, approximately 74% of Sunmi's revenue is derived from direct

sales for FY25.

Figure 13: Direct sales is the primary distribution channel Figure 14: Number of offline distributors

for SUNMI

Revenue by online and offline channels Number of offline distributors

100%

1200 1139

90%

80% 1000

70% 801

60% 800

50%

40%

30% 400

20%

10% 200

0%

2023 2024 2025

Online channels Direct sales Sales to distributors