Viomi Technology (NASDAQ: VIOT), a leading Chinese home water solutions company, has announced a 12-month extension of its share repurchase program. The plan, initially approved in October 2022 for up to US$10 million worth of American Depositary Shares (ADSs), will now extend through October 24, 2025. To date, the company has repurchased US$901,258 worth of ADSs in the open market. The company will continue funding the repurchases using its existing cash balance.
Viomi Technology (NASDAQ: VIOT), un’importante azienda cinese di soluzioni per l’acqua domestica, ha annunciato un prolungamento di 12 mesi del suo programma di riacquisto di azioni. Il piano, inizialmente approvato nell’ottobre 2022 per un valore di 10 milioni di dollari USA in azioni di deposito americane (ADS), si estenderà ora fino al 24 ottobre 2025. Fino ad oggi, l’azienda ha riacquistato azioni per un valore di 901.258 dollari USA sul mercato aperto. L’azienda continuerà a finanziare i riacquisti utilizzando il suo attuale saldo di cassa.
Viomi Technology (NASDAQ: VIOT), una destacada empresa china de soluciones de agua para el hogar, ha anunciado una prórroga de 12 meses de su programa de recompra de acciones. El plan, aprobado inicialmente en octubre de 2022 por un monto de 10 millones de dólares estadounidenses en acciones depositarias americanas (ADS), ahora se extenderá hasta el 24 de octubre de 2025. Hasta la fecha, la empresa ha recomprado acciones por un valor de 901,258 dólares estadounidenses en el mercado abierto. La empresa continuará financiando las recompras utilizando su saldo de efectivo existente.
Viomi Technology (NASDAQ: VIOT), 중국의 주요 가정용 수자원 솔루션 회사가 12개월 연장된 자사주 매입 프로그램을 발표했습니다. 이 계획은 2022년 10월에 최대 1천만 달러의 미국 예탁주식(ADS)을 위해 승인되었으며, 이제 2025년 10월 24일까지 연장됩니다. 현재까지 이 회사는 공개 시장에서 901,258달러의 ADS를 재매입했습니다. 회사는 기존 현금 잔액을 사용하여 재매입을 계속 자금 지원할 것입니다.
Viomi Technology (NASDAQ: VIOT), une entreprise chinoise leader dans les solutions d’eau pour le foyer, a annoncé une extension de 12 mois de son programme de rachat d’actions. Le plan, initialement approuvé en octobre 2022 pour un montant allant jusqu’à 10 millions de dollars américains en actions américaines (ADS), sera maintenant prolongé jusqu’au 24 octobre 2025. À ce jour, l’entreprise a racheté pour 901.258 dollars américains d’ADS sur le marché libre. L’entreprise continuera de financer ces rachats en utilisant son solde de trésorerie existant.
Viomi Technology (NASDAQ: VIOT), ein führendes chinesisches Unternehmen für Wasserlösungen im Haushalt, hat eine 12-monatige Verlängerung seines Aktienrückkaufprogramms angekündigt. Der Plan, der ursprünglich im Oktober 2022 für bis zu 10 Millionen US-Dollar an amerikanischen Depotaktien (ADS) genehmigt wurde, wird nun bis zum 24. Oktober 2025 verlängert. Bis heute hat das Unternehmen Aktien im Wert von 901.258 US-Dollar am offenen Markt zurückgekauft. Das Unternehmen wird die Rückkäufe weiterhin mit seinem bestehenden Bargeldbestand finanzieren.
Positive
- Board’s commitment to enhancing shareholder value through share repurchase program
- Company has sufficient cash balance to fund the repurchase program
- Extended timeline provides more flexibility for strategic share repurchases
Negative
- Only US$901,258 of the US$10 million authorization has been utilized since October 2022, indicating slow execution
- Significant portion of authorized repurchase amount remains unused after initial period
Insights
The extension of Viomi’s share repurchase program, with
The three-year timeframe through 2025 provides significant flexibility but also dilutes the potential near-term price support that a more aggressive buyback might offer. Given that only
GUANGZHOU, China, Oct. 23, 2024 (GLOBE NEWSWIRE) — Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT), a leading technology company for home water solutions in China, today announced that as part of the Company’s continuous commitment to enhancing shareholder value, its board of directors (the “Board”) has approved an extension of its existing share repurchase plan for an additional 12 months.
On October 25, 2022, the Board approved the share repurchase plan to repurchase up to US
Under this extended share repurchase plan, the Company may repurchase up to US
The Company plans to continue funding the repurchases under the share repurchase plan using its existing cash balance.
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
FAQ
What is the new expiration date for Viomi Technology’s (VIOT) share repurchase program?
Viomi Technology’s share repurchase program has been extended to October 24, 2025.
How much has Viomi Technology (VIOT) spent on share repurchases to date?
Viomi Technology has purchased US$901,258 worth of its ADSs in the open market to date.
What is the total amount authorized for Viomi’s (VIOT) share repurchase program?
The share repurchase program authorizes the repurchase of up to US$10 million worth of Viomi’s ADSs.
How is Viomi Technology (VIOT) funding its share repurchase program?
Viomi Technology is funding the share repurchases using its existing cash balance.