Viomi Technology Co., Ltd Enters Definitive Agreements to Divest Certain IoT@Home Businesses in an Effort to Strategically Focus on Home Water Solution Businesses

July 19, 2024

https://www.prnewswire.com/news-releases/viomi-technology-co-ltd-enters-definitive-agreements-to-divest-certain-iothome-businesses-in-an-effort-to-strategically-focus-on-home-water-solution-businesses-302201572.html

GUANGZHOU, China, July 19, 2024 /PRNewswire/ — Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT) today announced that, to implement its “Focus” strategy for home water solution businesses, it has entered into definitive agreements with Mr. Xiaoping Chen, the Company’s Founder, Chairman of the Board of Directors, and CEO, and an  entity controlled by Mr. Chen, to divest the Company’s businesses and assets involving certain IoT@Home portfolio products for a total consideration of RMB65 million in cash.

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