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Viomi Technology Co., Ltd Enters Definitive Agreements to Divest Certain IoT@Home Businesses in an Effort to Strategically Focus on Home Water Solution Businesses

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GUANGZHOU, China, July 19, 2024 /PRNewswire/ — Viomi Technology Co., Ltd (“Viomi” or the “Company”) (NASDAQ: VIOT) today announced that, to implement its “Focus” strategy for home water solution businesses, it has entered into definitive agreements with Mr. Xiaoping Chen, the Company’s Founder, Chairman of the Board of Directors, and CEO, and an  entity controlled by Mr. Chen, to divest the Company’s businesses and assets involving certain IoT@Home portfolio products for a total consideration of RMB65 million in cash.

The sale of the IoT@Home portfolio products (excluding range hoods, gas stoves, and water heaters) (the “Divested Business”) to Mr. Chen will be effected through termination, at closing, of the existing variable interest entity (“VIE”) contractual arrangements between Yunmi Hulian Technology (Guangdong) Co., Ltd. and Foshan Yunmi Electric Appliances Technology Co., Ltd. (“Foshan Viomi”), which will result in Foshan Viomi’s shareholder, Mr. Chen, fully controlling Foshan Viomi and its subsidiaries, including Foshan Xiaoxian Hulian Electric Appliances Technology Co. Ltd., Foshan Qutansuo Electric Technology Co., Ltd., Guangdong AI Touch Technology Co., Ltd., and Zhuawa Technology (Guangdong) Co., Ltd. As part of a pre-closing reorganization, Zhumeng Hulian Technology (Guangdong) Co., Ltd. and Guangzhou Interconnect Technology Co., Ltd. (“Guangzhou Interconnect”) will enter into a new set of VIE contractual arrangements, as a result of which the Company will control Guangzhou Interconnect and consolidate its financial results.

Mr. Chen will pay the RMB65 million purchase price through Foshan Viomi in the form of a registered capital increase to Guangzhou Interconnect at closing.

The special committee of the board of directors of the Company (“the Board”), consisting of Ms. Jinling Zhang, Mr. Weijiang Wu, and Mr. Jun Li, each of whom is an independent and disinterested director of the Board, led the evaluation and negotiation of the transaction on behalf of the Company. Kroll LLC served as an independent financial advisor to the special committee and issued a fairness opinion. The Board, acting upon the unanimous recommendation of the special committee, resolved that the proposed transaction is in the Company’s best interest and is fair to the Company from a financial point of view and approved the transaction. The transaction is subject to certain closing conditions and is expected to close by the end of August 2024.

Once the transaction is completed, the Company will strategically focus on its home water solution business and related products, using AI technology to provide better drinking water solutions for household users.

About Viomi Technology

Viomi’s mission is to redefine the future home via the concept of IoT @ Home.

Viomi has developed a unique IoT @ Home platform consisting of an ecosystem of innovative IoT-enabled smart home products, together with a suite of complementary consumable products and value-added businesses. This platform provides an attractive entry point into the consumer home, enabling consumers to intelligently interact with a broad portfolio of IoT products in an intuitive and human-like manner to make daily life more convenient, efficient and enjoyable, while allowing Viomi to grow its household user base and capture various additional scenario-driven consumption events in the home environment.

For more information, please visit: http://ir.viomi.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Viomi’s strategic and operational plans, contain forward-looking statements. Viomi may also make written or oral forward-looking statements in its periodic reports to the United States Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to Fourth parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; the cooperation with Xiaomi, the recognition of the Company’s brand; trends and competition in global IoT-enabled smart home market; development and commercialization of new products, services and technologies; governmental policies and relevant regulatory environment relating to the Company’s industry and/or aspects of the business operations and general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Viomi Technology Co., Ltd
Claire Ji
E-mail: ir@viomi.com.cn

Piacente Financial Communications
Hui Fan
Tel: +86-10-6508-0677
E-mail: viomi@tpg-ir.com  

In the United States:

Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: viomi@tpg-ir.com  

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SOURCE Viomi Technology Co., Ltd

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AIRAmed and Memory Treatment Centers (Bonita Springs and Jacksonville, Florida) have launched a research partnership aimed at studying Alzheimer’s disease in cognitively impaired individuals undergoing anti-amyloid therapy

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As the global Alzheimer’s community enters a new era of drug treatments, we at MTC are excited to announce our collaboration with AIRAmed. This partnership will provide enhanced tools for the diagnosis and treatment of Alzheimer’s patients. AIRAmed’s cutting-edge technology allows patients to monitor their brain health through serial MRIs, which are conducted regularly during anti-amyloid therapy.

BONITA SPRINGS, Fla., Sept. 27, 2024 /PRNewswire/ — AIRAmed, a software company dedicated to the earlier detection of neurodegenerative diseases, more precise diagnoses, personalized treatments, and improving the quality of life for affected patients, is pleased to announce a research collaboration with Memory Treatment Centers. In partnership with Dr. Donald McCarren (DO, FAAN, FAANEM), Dr. Samuel Giles (MD), Dr. Robert Mannel (MD) and Dr. Jamie Plante (MD), the study will focus on quantitative brain volume measurements in cognitively impaired individuals receiving anti-amyloid treatment.

AIRAmed and Memory Treatment Centers have launched a research partnership studying Alzheimer’s disease.

Dr Tobias Lindig, Managing Director, AIRAmed said, “AIRAmed’s vision and mission is to continuously improve patient care with cutting edge technology – especially in the field of neurodegenerative diseases. We dedicate ourselves to early detection of disease. We developed our FDA-cleared AI-software AIRAscore – allowing to track changes in regional brain volume not visible to the eye. We are convinced that the partnership with MTC in this new era of treatments for Alzheimer´s disease offers a game-changing quality-of-life change for patients undergoing these new therapies.”

Dr. Donald McCarren, Memory Treatment Centers, said, “we at MTC are eager to partner with AIRAmed and drive forward innovation in patient care. Through this collaboration, we will share HIPAA-compliant, real-world data with the global Neurologic community, helping to enhance our understanding of the disease, improve treatment strategies, and augment patient outcomes. AIRAmed will provide exact volumetric data – enabling us at MTC to get a better understanding for Alzheimer disease; exact quantification of MR imaging data at the same time will allow us to monitor disease under therapy with precision.”

About AIRAmed – Our mission at AIRAmed is to bring the latest findings and possibilities from clinical research to the patient as quickly as possible. In many years as doctors and researchers at the University Hospital of Tuebingen, we have often seen valuable research results disappear into a drawer. With AIRAmed’s innovative software solutions, we want to prevent exactly that, instead bringing innovation into medicine – pushing boundaries of modern radiology.     

For more information, visit https://www.airamed.de/en/home

 About Memory Treatment Centers – At Memory Treatment Centers, we are leaders in innovative treatments and advancing the level and effectiveness of memory diagnosing, treatment, and monitoring. Committed to providing hope and relief to individuals struggling with various forms of cognitive impairment, including Alzheimer’s Disease, our goal is to help patients achieve better health and a higher quality of life. We actively pursue new treatment opportunities and partnerships to enhance memory care and expand patient access to treatment. Additionally, we strive to help and educate individuals and caregivers, ensuring they have the support and knowledge needed on their journey to improved well-being.

For more information, visit https://memorytreatmentcenters.com/

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SOURCE Memory Treatment Centers

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Tencent Music Entertainment Group Releases Inaugural ESG Report

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SHENZHEN, China, Sept. 27, 2024 /PRNewswire/ — Tencent Music Entertainment Group (“TME”, or the “Company”) (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today released its inaugural Environmental, Social and Governance (“ESG”) report. This report highlights the Company’s commitment to sustainable practices and long-term value creation, and details the initiatives and performance in key areas such as responsible platform, employee care, and social responsibility. 

Mr. Cussion Pang, Executive Chairman of TME, commented, “Our inaugural ESG report showcases the steps we are taking to develop and implement a sustainability strategy. Building upon this foundation, we are committed to continuously shaping a sustainable future.”

To access the Company’s inaugural ESG Report, please visit: https://ir.tencentmusic.com/ESG-Reports.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME and HKEX: 1698) is the leading online music and audio entertainment platform in China, operating the country’s highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TME’s mission is to create endless possibilities with music and technology. TME’s platform comprises online music, online audio, online karaoke, music-centric live streaming and online concert services, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit ir.tencentmusic.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact
Tencent Music Entertainment Group
ir@tencentmusic.com
+86 (755) 8601-3388 ext. 818415

View original content:https://www.prnewswire.com/news-releases/tencent-music-entertainment-group-releases-inaugural-esg-report-302260677.html

SOURCE Tencent Music Entertainment Group

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Vantage Foundation Connects V&A Solution with Metta Home for a Day of Fun and Learning

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BANGKOK, Sept. 27, 2024 /PRNewswire/ — Following their recent partnership, the Vantage Foundation has connected V&A Solution AEC Co Ltd (or “V&A Solution”) with Metta Home to host an interactive, engaging, and educational event for the children.

A representative from V&A Solution began the day with a simple talk on how to manage money wisely, offering the children helpful advice on saving and spending responsibly. After the session, the children enjoyed a lunch from McDonald’s, which added to the lively and positive atmosphere of the day.

The event concluded with a range of fun-filled games, including Thai childhood favourites such as Captain’s Ball, a memory game, and a balancing water balloon race. The children enthusiastically participated, filling the afternoon with laughter, teamwork, and excitement. The games not only entertained the children but also encouraged cooperation and strengthened their bonds with each other.

Steven Xie, Executive Director of Vantage Foundation, said, “At Vantage Foundation, we focus on connecting local companies with local charities so they can give back directly to their communities. Facilitating partnerships like the one between V&A Solution and Metta Home allows us to bring positive, lasting experiences to these children and create deeper connections within the community.”

Pomme Natchaphan, Thailand Country Manager for V&A Solution said, “We were thrilled to spend the day with the children at Metta Home. Teaching them about good money habits was just one part of the day, but seeing their excitement during the games and lunch was truly the highlight. It was a pleasure to give back, and we are thankful to Vantage Foundation for connecting us with Metta Home.”

Pakorn Romruen, Head of Home for the Observed Juveniles, Metta Home said, “Today’s activities provided an important balance of education and recreation, contributing to the children’s overall development. Events like this not only help foster essential life skills such as teamwork and social interaction but also bring much-needed positivity to their daily lives. We are thankful to V&A Solution and Vantage Foundation for their support in creating a meaningful and enriching experience for the children in our care.”

By connecting local companies like V&A Solution with Metta Home, the Vantage Foundation continues its mission of raising awareness of invisible challenges, such as depression, anxiety, and loneliness, that often contribute to social immobility and struggle. Through partnerships and meaningful events, the Foundation aims to provide young people with the support and experiences they need to thrive.

For more information on how to support Metta Home, please visit the Department of Juvenile Observation and Protection’s official website.

About Vantage Foundation

Vantage Foundation is an independent charitable organisation launched at the McLaren Technology Centre in the UK in 2023. The foundation has worked with charity organisations around the world, including The iREDE Foundation in Nigeria, Teach For Malaysia in Malaysia, and Instituto Claret in Brazil.

For more information, please visit www.vantage.foundation

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View original content:https://www.prnewswire.co.uk/news-releases/vantage-foundation-connects-va-solution-with-metta-home-for-a-day-of-fun-and-learning-302260119.html

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