Viomi Technology Co., Ltd (NASDAQ: VIOT) shares gained sharply at the outset Friday. The company, a leading technology company for home water solutions in China, today announced that it will report its unaudited financial results for the six months ended June 30, 2025 on November 10, before the open of the U.S. markets.
In addition, as a part of its continuous commitment to enhancing shareholder value, the Company’s board of directors has approved a new share repurchase plan under which the Company may repurchase up to US$20 million worth of its American depositary shares, ending on December 31, 2027.
CEO Xiaoping Chen commented, “The Company’s new share repurchase program underscores our confidence in Viomi’s business outlook and our commitment to maximizing long-term shareholder value. We believe this program will support the Company’s development while creating sustainable value for our consumers and shareholders in the long run.”
The share repurchases under the new share repurchase plan “may be effected from time to time on the open market at prevailing market prices, in privately negotiated transactions,” according to this morning’s news release, “in block trades and/or through other legally permissible means, depending on market conditions, and will be implemented in accordance with applicable rules and regulations. The Company expects to fund the repurchases out of its existing cash balance.”
VIOT shares began Friday’s session up 55 cents, or 19.6%. to $3.35.
