GUANGZHOU, China, Aug. 31,
2024 /PRNewswire/ -- Viomi Technology Co., Ltd
("Viomi" or the "Company") (NASDAQ: VIOT), a leading
technology company for home water solutions in China, today announced that all the conditions
precedent to the divestment of certain businesses and assets
related to IoT@Home portfolio products, as previously announced on
July 19, 2024 (the
"Transaction"), have been satisfied, and the Transaction has
successfully completed.
The completion of the Transaction enables the Company to embrace
a new mission, "AI for Better Water," and strive to utilize AI
technology to provide better drinking water solutions for
households worldwide.
Mr. Xiaoping Chen, Founder and
CEO of Viomi, commented: "In the first half of 2024, we achieved
preliminary improvements in earnings by rigorously implementing our
'Focus' strategy. Going forward, we will primarily focus on our
home water solution businesses, fully leveraging the competitive
advantages of our Water Purifier Gigafactory. Actively expanding
into key overseas markets will advance Viomi's global strategy,
helping us achieve our vision of 'Global Water.' We believe this
reorganization will further position us to attain sustainable
financial health and profitable growth, benefiting our users and
shareholders."
For more information about the previously announced Transaction,
please visit here.
About Viomi Technology
Viomi's mission is "AI for Better Water," utilizing AI
technology to provide better drinking water solutions for
households worldwide.
As an industry-leading technology company in home water
solutions, Viomi has developed a distinctive "Equipment +
Consumables" business model. By leveraging its expertise in AI
technology, intelligent hardware and software development, the
Company simplifies filter replacement and enhances water quality
monitoring, thereby increasing the filter replacement rate. Its
continuous technological innovations extend filter lifespan and
lower user costs, promoting the adoption of water purifiers and
supporting a healthy lifestyle while effectively addressing the
rising global demand for cleaner, fresher and healthier drinking
water. The Company operates a world-leading "Water Purifier
Gigafactory" with an integrated industrial chain that boasts
optimal efficiency and facilitates continuous breakthroughs in
water purification. This state-of-the-art facility enables Viomi to
achieve economies of scale and accelerate the global popularization
of residential water filtration.
For more information, please visit: https://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
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SOURCE Viomi Technology Co., Ltd