UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2024
Commission File Number: 001-38649
Viomi
Technology Co., Ltd
Wansheng Square, Rm 1302 Tower C, Xingang East
Road, Haizhu District
Guangzhou, Guangdong, 510220
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Exhibit Index
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
VIOMI TECHNOLOGY CO., LTD |
|
|
|
By: |
/s/ Xiaoping Chen |
|
|
Name: |
Xiaoping Chen |
|
|
Title: |
Chief Executive Officer |
Date: July 19, 2024
Exhibit 99.1
Viomi
Technology Co., Ltd Enters Definitive Agreements to Divest Certain IoT@Home Businesses in an Effort to Strategically Focus
on Home Water Solution Businesses
GUANGZHOU,
China, July 19, 2024 – Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT) today
announced that, to implement its “Focus” strategy for home water solution businesses, it has entered into definitive agreements
with Mr. Xiaoping Chen, the Company’s Founder, Chairman of the Board of Directors, and CEO, and an entity controlled by Mr. Chen,
to divest the Company’s businesses and assets involving certain IoT@Home portfolio products for a total consideration of RMB65 million
in cash.
The
sale of the IoT@Home portfolio products (excluding range hoods, gas stoves, and water heaters) (the “Divested Business”) to
Mr. Chen will be effected through termination, at closing, of the existing variable interest entity (“VIE”) contractual arrangements
between Yunmi Hulian Technology (Guangdong) Co., Ltd. and Foshan Yunmi Electric Appliances Technology Co., Ltd. (“Foshan
Viomi”), which will result in Foshan Viomi’s shareholder, Mr. Chen, fully controlling Foshan Viomi and its subsidiaries, including
Foshan Xiaoxian Hulian Electric Appliances Technology Co. Ltd., Foshan Qutansuo Electric Technology Co., Ltd., Guangdong AI Touch Technology
Co., Ltd., and Zhuawa Technology (Guangdong) Co., Ltd. As part of a pre-closing reorganization, Zhumeng Hulian Technology (Guangdong)
Co., Ltd. and Guangzhou Interconnect Technology Co., Ltd. (“Guangzhou Interconnect”) will enter into a new set of VIE contractual
arrangements, as a result of which the Company will control Guangzhou Interconnect and consolidate its financial results.
Mr.
Chen will pay the RMB65 million purchase price through Foshan Viomi in the form of a registered capital increase to Guangzhou Interconnect
at closing.
The
special committee of the board of directors of the Company (“the Board”), consisting of Ms. Jinling Zhang, Mr. Weijiang
Wu, and Mr. Jun Li, each of whom is an independent and disinterested director of the Board, led the evaluation and negotiation of the
transaction on behalf of the Company. Kroll LLC served as an independent financial advisor to the special committee and issued a fairness
opinion. The Board, acting upon the unanimous recommendation of the special committee, resolved that the proposed transaction is in the
Company’s best interest and is fair to the Company from a financial point of view and approved the transaction. The transaction
is subject to certain closing conditions and is expected to close by the end of August 2024.
Once
the transaction is completed, the Company will strategically focus on its home water solution business and related products, using
AI technology to provide better drinking water solutions for household users.
About Viomi Technology
Viomi’s mission is to redefine the future
home via the concept of IoT @ Home.
Viomi has developed a unique IoT @ Home platform
consisting of an ecosystem of innovative IoT-enabled smart home products, together with a suite of complementary consumable products
and value-added businesses. This platform provides an attractive entry point into the consumer home, enabling consumers to intelligently
interact with a broad portfolio of IoT products in an intuitive and human-like manner to make daily life more convenient, efficient and
enjoyable, while allowing Viomi to grow its household user base and capture various additional scenario-driven consumption events in
the home environment.
For more information, please visit: http://ir.viomi.com.
Safe Harbor Statement
This announcement contains forward-looking statements.
These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates,” “confident”
and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Viomi’s
strategic and operational plans, contain forward-looking statements. Viomi may also make written or oral forward-looking statements in
its periodic reports to the United States Securities and Exchange Commission (the “SEC”), in its annual report to shareholders,
in press releases and other written materials and in oral statements made by its officers, directors or employees to Fourth parties.
Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ
materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth
strategies; the cooperation with Xiaomi, the recognition of the Company’s brand; trends and competition in global IoT-enabled smart
home market; development and commercialization of new products, services and technologies; governmental policies and relevant regulatory
environment relating to the Company’s industry and/or aspects of the business operations and general economic conditions in China
and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks
is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as
of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required
under applicable law.
For investor and media inquiries, please contact:
In China:
Viomi Technology Co., Ltd
Claire Ji
E-mail: ir@viomi.com.cn
Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
E-mail: viomi@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: viomi@tpg-ir.com
Viomi Technology (NASDAQ:VIOT)
Historical Stock Chart
From Nov 2024 to Dec 2024
Viomi Technology (NASDAQ:VIOT)
Historical Stock Chart
From Dec 2023 to Dec 2024