GUANGZHOU, China, Oct. 25,
2022 /PRNewswire/ -- Viomi Technology Co., Ltd
("Viomi" or the "Company") (NASDAQ: VIOT), a leading IoT @ Home
technology company in China, today
announced that as a part of the Company's continuous commitment to
enhancing shareholder value, its board of directors has approved a
new share repurchase plan under which the Company may repurchase up
to US$10 million worth of its
American depositary shares over the next 12 months, ending on
October 24, 2023. The Company's
previous 12-month share repurchase plan as originally announced on
October 14, 2021, has expired.
The share repurchases under the new share repurchase plan may be
effected from time to time on the open market at prevailing market
prices, in privately negotiated transactions, in block trades
and/or through other legally permissible means, depending on market
conditions and will be implemented in accordance with applicable
rules and regulations. The Company expects to fund the repurchases
out of its existing cash balance.
Mr. Xiaoping Chen, Founder,
Chairman and Chief Executive Officer of Viomi, said, "the Company's
new share repurchase program demonstrates our confidence in our
business outlook and reflects our commitment to maximizing
long-term shareholder value. We believe this program will benefit
the Company's development and create value for our consumers and
shareholders in the long run."
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 third 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 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
The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: viomi@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: viomi@tpg-ir.com
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SOURCE Viomi Technology Co., Ltd