Viomi Technology Co., Ltd Announces Management Change

Rhea-AI Summary

Viomi Technology Co., Ltd (NASDAQ: VIOT) has announced the immediate resignation of Chief Financial Officer, Mr. Shun Jiang, for personal reasons. The company is actively seeking a replacement and interim financial oversight will be managed by Mr. Xiaoping Chen, the Founder and CEO. In a statement, Chen expressed gratitude for Jiang's contributions. Viomi aims to innovate within the IoT @ Home sector, enhancing smart home technology for consumers.

Positive

• Viomi is committed to quickly filling the CFO position, ensuring continuity in financial leadership.
• The company continues to focus on expanding its IoT @ Home platform, which could drive future growth.

Negative

• Leadership changes can create uncertainty, potentially impacting investor confidence.
• A sudden resignation without succession planning may disrupt financial operations temporarily.

GUANGZHOU, China, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT), a leading IoT @ Home technology company in China, today announced that Mr. Shun Jiang has tendered his resignation as Chief Financial Officer of the Company for personal reasons, effective immediately. The Company has commenced the search for Mr. Jiang’s replacement and is committed to moving quickly to fill the role. The Company’s finance team will report to Mr. Xiaoping Chen, Founder, Chairman of the Board of Directors and Chief Executive Officer of Viomi, in the interim.

Mr. Xiaoping Chen commented, “On behalf of the Board of Directors and management team, I want to thank Mr. Jiang for his contributions to Viomi and wish him all the best in his future endeavors.”

About Viomi Technology

Viomi’s mission is to redefine the future home via the concept of IoT @ Home.

Viomi has developed a unique IoT @ Home platform consisting an ecosystem of innovative IoT-enabled smart home products, together with a suite of complementary consumable products and value-added businesses. This platform provides an attractive entry point into the consumer home, enabling consumers to intelligently interact with a broad portfolio of IoT products in an intuitive and human-like manner to make daily life more convenient, efficient and enjoyable, while allowing Viomi to grow its household user base and capture various additional scenario-driven consumption events in the home environment.

For more information, please visit: http://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 relating to the Company’s industry 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 and in the attachments 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
Cecilia Li
E-mail: ir@viomi.com.cn

The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: viomi@tpg-ir.com

In the United States:

The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: viomi@tpg-ir.com

 

FAQ

Who has resigned from Viomi Technology as CFO?

Mr. Shun Jiang has resigned from his position as Chief Financial Officer of Viomi Technology.

What is the effective date of Mr. Jiang's resignation?

Mr. Jiang's resignation is effective immediately as of November 30, 2020.

Who will oversee financial operations at Viomi after the CFO resignation?

Mr. Xiaoping Chen, the Founder and CEO, will oversee financial operations in the interim.

What are the implications of Mr. Jiang's resignation for Viomi Technology?

Mr. Jiang's resignation could create temporary uncertainty and potential disruptions in financial management.

What is Viomi Technology's focus in the market?

Viomi Technology focuses on the IoT @ Home market, developing smart home products and technologies.