MILPITAS, Calif., Sept. 6,
2024 /PRNewswire/ -- Zepp Health Corporation
("Zepp Health" or the "Company") (NYSE: ZEPP), a global leader in
smart wearables and health technology, today announced that it will
change the ratio of its American depositary shares ("ADSs") to its
Class A ordinary shares (the "ADS Ratio") from one (1) ADS
representing four (4) Class A ordinary shares to one (1) ADS
representing sixteen (16) Class A ordinary shares.
For the Company's ADS holders, the change in the ADS Ratio will
have the same effect as a one-for-four reverse ADS split. A
post-effective amendment to the ADS Registration Statement on Form
F-6 will be filed with the SEC to reflect the change in the ADS
Ratio. The Company anticipates that the change in the ADS Ratio
will be effective on or about September 16, 2024 (U.S.
Eastern Time), subject to the effectiveness of the post-effective
amendment to the ADS Registration Statement on Form F-6 on or
before that date.
Each ADS holder of record at the close of business on the date
when the change in ADS Ratio is effective will be required to
surrender and exchange every four (4) existing ADSs then held for
one (1) new ADS. Deutsche Bank Trust Company Americas, as the
depositary bank for the Company's ADS program, will arrange for the
exchange of the current ADSs for the new ones.
No fractional new ADSs will be issued in connection with the
change in the ADS Ratio. Instead, fractional entitlements to new
ADSs will be aggregated and sold by the depositary bank and the net
cash proceeds from the sale of the fractional ADS entitlements
(after deduction of fees, taxes and expenses, where applicable)
will be distributed to the applicable ADS holders by the depositary
bank. The change in the ADS Ratio will have no impact on the
Company's underlying Class A ordinary shares, and no Class A
ordinary shares will be issued or cancelled in connection with the
change in the ADS Ratio. The Company's ADSs will continue to be
traded on the New York Stock Exchange under the ticker symbol
"ZEPP."
As a result of the change in ADS Ratio, the ADS trading price is
expected to increase proportionately, although the Company can give
no assurance that the ADS trading price after the change in the ADS
Ratio will be equal to or greater than four times the ADS trading
price before the change.
About Zepp Health Corporation
Zepp Health (NYSE: ZEPP), a global smart wearable and health
technology leader, empowers users to live their healthiest lives
through its leading consumer brands, including Amazfit,
Zepp Clarity, and Zepp Aura.
Leveraging its proprietary Zepp Digital Health Management Platform,
Zepp Health delivers actionable insights and guidance to users
worldwide. With a presence in over 90 countries and a robust
ecosystem of products and services, Zepp Health is at the forefront
of advancing wearable intelligence and digital health
technology.
For more information on Zepp Health and its products, please
visit www.zepp.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.
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
cooperation with Xiaomi, the recognition of the Company's
self-branded products; the Company's growth strategies; trends and
competition in global wearable technology market; changes in the
Company's revenues and certain cost or expense accounting policies;
governmental policies relating to the Company's industry and
general economic conditions in China and the global. Further information
regarding these and other risks is included in the Company's
filings with the United States Securities and Exchange Commission.
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:
Zepp Health Corporation
Grace Yujia Zhang
Email: ir@zepp.com
Piacente Financial Communications
Email: zepp@tpg-ir.com
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SOURCE Zepp Health Corp.
