ORDINARY SHARES |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 | |||
| Equity [Abstract] | |||
| ORDINARY SHARES |
The Company adopts a dual-class ordinary share structure. Pursuant to the resolution of the shareholders of the Company on August 23, 2018, the Company’s authorized share capital became US$50,000 divided into shares comprising of (i) class A ordinary shares of a par value of US$ each (“Class A Ordinary Shares”), (ii) class B ordinary shares of a par value of US$ each (“Class B Ordinary Shares”) and (iii) shares of a par value of US$ each of such class or classes (however designated) as the board of directors may determine in accordance with post-offering amended and restated memorandum and articles of association. In respect of all matters subject to a shareholder vote, each Class A ordinary share is entitled to one vote, and each Class B Ordinary Share is entitled to ten (10) votes, voting together as one class. Each Class B Ordinary Share is convertible into one Class A Ordinary Share at any time by the holder thereof. Class A Ordinary Shares are not convertible into Class B Ordinary Shares under any circumstances. Upon any transfer of Class B Ordinary Shares by a holder to any person or entity other than holders of Class B Ordinary Shares or their affiliates, such Class B Ordinary Shares shall be automatically and immediately converted into the equivalent number of Class A Ordinary Shares.
Immediately prior to the completion of the IPO, issued Class A Ordinary Shares held by certain key management founders, issued Pre-IPO Class B Ordinary Shares held by Red Better, and issued Pre-IPO Class B Ordinary Shares held by Mr. Chen’s wholly-owned entity Viomi Limited was automatically converted by way of re-designation and re-classification into Class B Ordinary Shares on a one-for-one basis, and the rest of the outstanding Class A Ordinary Shares, the rest of the outstanding Pre-IPO Class B Ordinary Shares, and all outstanding Series A Preferred Shares was automatically converted by way of re-designation and re-classification into Class A Ordinary Shares on a one-for-one basis. Upon the completion of the Company’s IPO in 2018, Class A Ordinary Shares were issued, and the Company had Post-IPO Class A Ordinary Shares and Post-IPO Class B Ordinary Shares outstanding, respectively.
As of December 31, 2022, the Company had Class A Ordinary Shares and Class B Ordinary Shares outstanding, respectively, following the option exercises into Class A Ordinary Shares, conversions of Class B Ordinary Shares to Class A Ordinary Shares as well as the repurchase of Class A Ordinary Shares following the IPO during the previous years.
During the year ended December 31, 2023, Class A Ordinary Shares were issued for the exercised share options. In addition, Class B Ordinary Shares were converted into Class A Ordinary Shares. Moreover, Class A Ordinary Shares were repurchased by the Group. As of December 31, 2023, the Company had Class A Ordinary Shares and Class B Ordinary Shares outstanding.
During the year ended December 31, 2024, Class A Ordinary Shares were issued for the exercised share options. In addition, Class A Ordinary Shares were repurchased by the Group. As of December 31, 2024, the Company had Class A Ordinary Shares and Class B Ordinary Shares outstanding.
During the year ended December 31, 2025, Class A Ordinary Shares were issued for the exercised share options. In addition, Class A Ordinary Shares were repurchased by the Group. 4 Class A Ordinary Shares and 2 Class B Ordinary Shares were cancelled by the Group. As of December 31, 2025, the Company had Class A Ordinary Shares and Class B Ordinary Shares outstanding.
VIOMI TECHNOLOGY CO., LTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2023, 2024 AND 2025 (Amounts in thousands, except shares, ADS, per share and per ADS data)
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