GUANGZHOU, China, March 27,
2024 /PRNewswire/ -- Viomi Technology Co., Ltd
("Viomi" or the "Company") (NASDAQ: VIOT), a leading IoT @ Home
technology company in China, today
announced that it has received a written notification from the
staff of the Listing Qualifications Department of the Nasdaq Stock
Market LLC ("Nasdaq") dated March
26, 2024, indicating that because the closing bid price of
the Company's American Depositary Shares ("ADSs") for the last 30
consecutive business days was below US$1.00 per share, the Company no longer meets
the Nasdaq minimum bid price requirement, set forth in Nasdaq
Listing Rule 5450(a)(1).
Pursuant to the Nasdaq Listing Rules, the Company is provided
with a compliance period of 180 calendar days, or until
September 23, 2024, to regain
compliance. If at any time during the 180-day compliance period,
the closing bid price of the Company's ADSs is at lease
US$1.00 per share for a minimum of
ten consecutive business days, Nasdaq will provide the Company
written confirmation of compliance and that matter will be
closed.
The Nasdaq notification letter will have no effect on the
Company's business operations, and the Company will take all
reasonable measures to regain compliance.
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
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
View original
content:https://www.prnewswire.com/news-releases/viomi-announces-receipt-of-minimum-bid-price-notice-from-nasdaq-302100480.html
SOURCE Viomi Technology Co., Ltd
