GUANGZHOU, China, Aug. 17,
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 it has
received a written notification letter (the "Compliance Notice")
from the Listing Qualifications Department of the Nasdaq Stock
Market ("Nasdaq") dated August 16,
2024, informing the Company that it has regained compliance
with the Nasdaq Listing Rule 5450(a)(1) (the "Minimum Bid Price
Requirement").
As previously announced, on March
26, 2024, Viomi received a notification letter from
Nasdaq indicating that the Company was not in compliance with the
Minimum Bid Price Requirement, as the closing bid price of the
Company's American Depositary Shares (the "ADSs") was below
US$1.00 per ADS for 30 consecutive
business days. According to the Compliance Notice, the closing bid
price of the Company's ADSs has been at $1.00 per ADS or greater for ten consecutive
business days from August 1 to August 15,
2024, and the Company has regained compliance with the
Minimum Bid Price Requirement and the matter is closed.
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 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
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SOURCE Viomi Technology Co., Ltd
