Viomi Technology Announces Business Restructuring Agreement To Divest IoT@Home Business For RMB65 Million, Focusing On Core Home Water Solution Business And Enhancing Operational Efficiency
Portfolio Pulse from Benzinga Newsdesk
Viomi Technology has announced a business restructuring agreement to divest its IoT@Home business for RMB65 million. The company will now focus on its core home water solution business and aims to enhance operational efficiency.
July 25, 2024 | 7:02 pm
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Viomi Technology is divesting its IoT@Home business for RMB65 million to focus on its core home water solution business and improve operational efficiency.
The divestment allows Viomi Technology to streamline its operations and concentrate on its core home water solution business, which could lead to improved operational efficiency and potentially higher profitability. This strategic move is likely to be viewed positively by investors.
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