Viomi completes divestment, shifts focus to AI-powered water solutions
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Viomi Technology has announced that all the conditions precedent to the divestment of certain businesses and assets related to IoT@Home portfolio products, as previously announced on July 19, 2024, have been satisfied, and the transaction has successfully completed.
The completion of the transaction enables the company to embrace a new mission, “AI for Better Water,” and strive to utilise AI technology to provide better drinking water solutions for households worldwide.
Xiaoping Chen, the founder and CEO of Viomi, said, “In the first half of 2024, we achieved preliminary improvements in earnings by rigorously implementing our ‘Focus’ strategy. Going forward, we will primarily focus on our home water solution businesses, fully using the competitive advantages of our Water Purifier Gigafactory. Actively expanding into key overseas markets will advance Viomi’s global strategy, helping us achieve our vision of ‘Global Water.’ We believe this reorganisation will further position us to attain sustainable financial health and profitable growth, benefiting our users and shareholders.”
For more information about the previously announced Transaction, please visit here.
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