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Viomi Technology Completes Strategic Divestment, Aims for Global Expansion
GUANGZHOU, China, Aug. 31, 2024 /PRNewswire/ — Viomi Technology Co., Ltd, a prominent player in the home water solutions industry in China, has announced the successful completion of the divestment of certain businesses related to its IoT@Home portfolio. This move, originally communicated in a press release on July 19, 2024, marks a significant step in the company’s strategic evolution.
With this transaction’s completion, Viomi is set to embark on a new mission titled “AI for Better Water.” The company plans to harness advanced AI technology to enhance drinking water solutions for households around the world.
Xiaoping Chen, the Founder and CEO of Viomi, noted the company’s preliminary earnings improvements in the first half of 2024, following the rigorous implementation of its ‘Focus’ strategy. He stated, “Our primary direction will now center on our home water solution segment, leveraging our competitive edge through the Water Purifier Gigafactory. Additionally, we are keen on expanding into key international markets as part of our broader global strategy, ultimately guiding us toward our ‘Global Water’ vision. We are confident that this reorganization will bolster our financial health and foster increased profitability, benefiting both our users and shareholders.”
To learn more about the previously announced divestment, visit this link.
About Viomi Technology
Viomi’s core mission revolves around the concept of “AI for Better Water,” aimed at delivering superior drinking water solutions through cutting-edge AI technology.
As a leader in the home water solutions sector, Viomi has pioneered a unique “Equipment + Consumables” business model. The company leverages its expertise in AI technology as well as intelligent hardware and software design to streamline filter replacements and enhance water quality monitoring. This approach not only increases the efficiency of filter replacements but also extends the lifespan of filters while reducing costs for users. Such innovations cater to the rising global demand for fresh and healthy drinking water. Viomi is equipped with a state-of-the-art “Water Purifier Gigafactory,” which features a fully integrated industrial chain aimed at achieving optimal production efficiency. This facility supports continuous advancements in water purification technology, allowing Viomi to scale operations quickly and help popularize residential water filtration globally.
For more details, visit: https://ir.viomi.com.
Legal Disclaimer
This announcement contains statements that may be considered forward-looking as defined by the U.S. Private Securities Litigation Reform Act of 1995. Such statements often include terms like “will,” “expects,” or “believes” and represent Viomi’s future business outlook, management commentary, and strategic plans. These forward-looking statements involve inherent risks and uncertainties, and actual results may differ significantly due to various factors, including market trends, competition, regulatory changes, and economic conditions both in China and globally.
Further details on these risks can be found in the company’s filings with the SEC. All information provided is current as of the date of this announcement, and Viomi is not obliged to update any forward-looking statements unless required by law.
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