Viomi Announces Investment Plan for Comprehensive IoT Technology Park

GUANGZHOU, China, Feb. 28, 2020 (GLOBE NEWSWIRE) -- Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT), a leading IoT @ Home technology company in China, announced this week that is has entered into a memorandum of understanding with the local government in Shunde, Guangdong Province, for a planned investment of approximately RMB1 billion, earmarked for the development of Viomi IoT Technology Park, a comprehensive high-tech industrial campus. The planned facilities, consisting of Viomi’s future headquarters and IoT development and manufacturing sites, aim to enhance the Company’s supply chain capabilities and promote resource optimization. This investment and development plan will be executed with the strong support of the local government.

The Viomi IoT Technology Park will be located on an approximate 254-mu (42-acre) parcel of land and is expected to be completed in two phases over an up to ten-year period. The first phase, geared towards approximately 54 mu (9 acres), is expected to include the Company’s multi-functional headquarters, including a product experience center, research and development center, smart manufacturing center, and centralized hub for sales and customer service functions. The second phase, of approximately 200 mu (33 acres), is expected to focus on and accommodate additional product development and manufacturing facilities for the Company’s IoT products, serving as a focal point of Viomi’s expanded supply chain capabilities, while attracting more upstream and downstream corporate and business opportunities.  

“This investment demonstrates our commitment to strengthening our IoT supply chain resources and provides the necessary underpinning to support manufacturing and research and development capabilities we will need, in order to thrive in the upcoming 5G and IoT era. With this new industrial park, we will be ideally positioned to capture the growing number of exciting opportunities before us over the long term,” said Mr. Xiaoping Chen, Founder, Chairman of the Board of Directors and Chief Executive Officer of Viomi. “We look forward to benefiting from Shunde’s advantageous industrial environment and its local policies and further promoting the overall industrial upgrades in China’s next growth phase.”