Summary by Futu AI
Viomi Technology Co., Ltd has extended its existing share repurchase plan for an additional 12 months, demonstrating its commitment to enhancing shareholder value. The plan, initially approved on October 25, 2022, allows the company to repurchase up to $10 million worth of its American Depositary Shares (ADSs) until October 24, 2025.To date, Viomi has purchased $901,258 worth of ADSs in the open market. The company plans to continue funding the repurchases using its existing cash balance. This extension reaffirms Viomi's confidence in its long-term growth prospects and dedication to maximizing shareholder returns.Viomi, a leading technology company for home water solutions in China, operates under the mission "AI for Better Water." The company leverages AI technology and a distinctive "Equipment + Consumables" business model to simplify filter replacement and enhance water quality monitoring. Viomi's world-leading "Water Purifier Gigafactory" enables economies of scale and accelerates the global popularization of residential water filtration.