Viomi Technology Announces Strategic Business Reorganization to Enhance Core Competitiveness and Efficiency

Foshan, China, July 25, 2024 (GLOBE NEWSWIRE) -- On July 19, 2024, Viomi Technology Co., Ltd (NASDAQ:VIOT) announced that in order to implement its "Focus" strategy, the Company has signed a business restructuring agreement with Mr. Xiaoping Chen, the founder and CEO, and an entity controlled by Mr. Xiaoping Chen, to divest part of the Company's IoT@Home business and related assets for a total cash consideration of RMB65 million. Upon completion of the reorganization, the Company will mainly focus on its ho ...