GUANGZHOU, China, Sept. 30, 2024 (GLOBE NEWSWIRE) — Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT), a leading technology company for home water solutions in China, celebrated its 6th anniversary of listing on Nasdaq on September 25, 2024. To mark this milestone, the Company grants approximately 9 million stock options to nearly 40 employees under the 2018 Share Incentive Plan. Recipients include elite employees from research and development, sales and marketing, etc.
The option awards aim to boost the motivation and creativity of core employees, fostering a culture of continuous innovation and success. It also underscores the Company’s dedication to retaining talents and reflects its confidence in future growth and development.
Mr. Xiaoping Chen, Founder and CEO of Viomi, commented: “Over the past decade, Viomi has attracted numerous global talents in the home water solutions industry and secured over 1,600 technology patents related to water purification. In the coming decade, we aim to attract more top global talents to develop advanced AI products and water purification solutions, providing fresh and healthy drinking water to users worldwide. We are dedicated to achieving our vision of ‘Global Water.’”
Following a major strategic reorganization on August 31, 2024, the Company will primarily focus on its AI home water solution businesses. In the first half of 2024, the Company returned to profitability and expects its full-year revenues for the Continuing Businesses1 to be between RMB1.7 billion and RMB1.9 billion. Income from operations of the Continuing Businesses is expected to reach between RMB110 million and RMB130 million.
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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1 As announced on July 19, 2024, the Company has entered into definitive agreements with Mr. Xiaoping Chen to divest the Company’s IoT@Home portfolio products (excluding range hoods, gas stoves, and water heaters) (the “Divested Business”) The transaction has been completed on August 31, 2024. Each of the estimated revenues and income from operations of the Continuing Businesses is based on the Company’s preliminary estimates based on currently available information. In estimating the revenues and income from operations of the Continuing Businesses, the management of the Company has taken into consideration of revenues, cost of revenues, and operating expenses directly attributable to the Continuing Businesses and indirect operating expenses allocated to the Continuing Businesses as deemed appropriate by the management of the Company. The term “Continuing Businesses” refers to the Company’s businesses excluding the Divested Business.
