Viomi Announces US$10 Million Share Repurchase Plan Nasdaq:VIOT
GUANGZHOU, China, March 26, 2020 (GLOBE NEWSWIRE) — Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT), a leading IoT @ Home technology company in China, today announced that the Company’s Board of Directors had approved a share repurchase program whereby the Company is authorized to repurchase up to US$10 million worth of its Class A ordinary shares in the form of American depositary shares over the next twelve-month period.
Mr. Xiaoping Chen, Founder, Chairman of the Board of Directors and Chief Executive Officer of Viomi, said, “the Company’s share repurchase program reflects our confidence in our business outlook and demonstrates our commitment to maximizing long-term shareholder value. Our healthy balance sheet and strong cash-flow generating ability provide us with ample flexibility to effectively implement the share repurchase program while continuing to execute our growth strategies.”