Business Context and Reporting Period
This Form 6-K filing by Viomi Technology Co., Ltd. is dated June 17, 2025, covering the month of June 2025. The report announces a change in the Company's independent registered public accounting firm and details specific reportable events necessitating this change. The Company recently completed a business reorganization in August 2024, divesting certain IoT@Home businesses to focus on home water solutions.
Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures for the current or prior periods. The document focuses exclusively on the change of auditors and the status of the audit for the fiscal year ended December 31, 2024, which remains incomplete as of the filing date.
Material Changes and Reportable Events
- Change in Auditor: The Company dismissed PricewaterhouseCoopers Zhong Tian LLP ("PwC") and engaged WWC, P.C. ("WWC") as its independent registered public accounting firm, effective June 17, 2025.
- Re-audit Requirement: WWC will re-audit the consolidated financial statements for fiscal years 2022 and 2023 to facilitate restatements required by the 2024 business reorganization.
- Internal Control Weaknesses: PwC previously identified material weaknesses in internal controls, including insufficient resources for U.S. GAAP reporting and a lack of comprehensive accounting policies.
- Loan Transaction Investigation: PwC identified issues regarding the business purpose and substance of loans totaling HK$16 million extended by a subsidiary to a Hong Kong-incorporated company in early 2024. These loans were repaid in March 2025 at the Company's request.
Outlook, Risks, and Management Commentary
Management has engaged international counsel and a forensic accountant to conduct an independent investigation into the HK$16 million loan transactions, initiated in May 2025. As of June 17, 2025, this investigation is ongoing. The audit for the fiscal year ended December 31, 2024, has not been completed by PwC, and the scope of the audit was not expanded prior to dismissal. The Company has authorized PwC to respond to inquiries from WWC regarding these reportable events.
Key Facts for Investor Verification
- Verify the status and findings of the independent forensic investigation into the HK$16 million loan transactions.
- Monitor the progress of the re-audit of fiscal years 2022 and 2023 by WWC, P.C.
- Confirm the timeline for the completion of the fiscal year 2024 audit and the issuance of restated financial statements.
- Assess the remediation of previously disclosed material weaknesses in internal controls over financial reporting.