Viomi Technology Co., Ltd Extends its Share Repurchase Plan

Core Viewpoint - Viomi Technology Co., Ltd has extended its share repurchase plan for an additional 12 months, reaffirming its commitment to enhancing shareholder value [1]. Share Repurchase Plan - The original share repurchase plan, approved on October 25, 2022, allowed for the repurchase of up to US$10 million worth of American Depositary Shares (ADSs) from October 25, 2022, to October 24, 2024 [1]. - The extension allows the company to repurchase up to US$10 million worth of its ADSs between October 25, 2022, and October 24, 2025 [1]. - To date, the company has repurchased an aggregate of US$901,258 worth of its ADSs in the open market [1]. Funding for Repurchases - The company plans to fund the share repurchases using its existing cash balance [2]. Company Overview - Viomi's mission is "AI for Better Water," focusing on utilizing AI technology to provide improved drinking water solutions for households globally [3]. - The company operates under a distinctive "Equipment + Consumables" business model, leveraging AI technology and intelligent hardware to enhance water quality monitoring and filter replacement rates [4]. - Viomi has developed a state-of-the-art "Water Purifier Gigafactory," which supports its integrated industrial chain and facilitates breakthroughs in water purification [4].