SCHEDULE: Viomi Tech Founder Boosts Control to 35.9% Voting Power

Xiaoping Chen and affiliated entities report beneficial ownership of 35.9% of Viomi Technology Co., Ltd.'s ordinary shares, representing 61.2% of total voting power.

Summary

• Xiaoping Chen, along with Viomi Limited and VioCloud Limited, collectively reported beneficial ownership of 72,493,045 ordinary shares of Viomi Technology Co., Ltd. as of December 31, 2025.
• This aggregate ownership represents 35.9% of the total outstanding ordinary shares.
• Due to the dual-class share structure, this ownership translates to 61.2% of the total outstanding voting power.
• Xiaoping Chen directly and indirectly controls Viomi Limited and VioCloud Limited, which hold significant portions of these shares.
• Viomi Limited beneficially owns 69,836,364 shares (34.6% of class, 60.2% voting power), consisting of 2,200,000 Class A and 67,636,364 Class B ordinary shares.
• VioCloud Limited beneficially owns 569,964 Class A ordinary shares (0.3% of class, 0.1% voting power).
• Class B ordinary shares are convertible to Class A on a one-for-one basis and carry ten votes per share, while Class A shares carry one vote per share.
• The total outstanding ordinary shares used for calculation were 201,965,189 as of December 31, 2025, comprising 99,200,641 Class A and 102,764,548 Class B ordinary shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, confirming significant and stable founder control, which can provide long-term strategic stability but also raises corporate governance considerations for minority shareholders.

Positives

• High insider ownership by founder Xiaoping Chen, which can align management's long-term interests with the company's success.
• The founder's significant control provides strategic stability and continuity in leadership.

Negatives

• The dual-class share structure, with Class B shares carrying ten votes per share compared to Class A's one vote, concentrates voting power significantly with Xiaoping Chen.
• Concentrated voting power may limit the influence of minority shareholders on corporate decisions.

Risks

• The dual-class share structure inherently creates a disparity in voting rights, potentially allowing the controlling shareholder to make decisions that may not always align with the interests of all shareholders.
• Concentration of voting power with Xiaoping Chen could reduce accountability to public shareholders.

Future Outlook

This filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

StockSavvy.ai notes that high insider ownership, especially by founders, is a common characteristic in technology companies, particularly those with dual-class share structures. This structure is often implemented to allow founders to maintain strategic control and pursue long-term visions without immediate pressure from public markets.

Comparison to Industry Standards

• Dual-class share structures are prevalent in the technology sector, seen in companies like Google (Alphabet), Meta Platforms, and Alibaba, where founders retain significant control despite public listings.
• Viomi's Class B shares carrying ten votes per share is a high ratio, comparable to structures adopted by companies like Meta Platforms, which aims to solidify founder control over strategic direction.

Corporate Governance

Related Party Transactions

• The filing details that Viomi Limited is wholly owned by a trust established for the benefit of Xiaoping Chen and his family, and VioCloud Limited is wholly owned by Foshan Yunmi Electric Appliances Technology Co., Ltd., which is controlled by Xiaoping Chen. These entities' holdings are therefore related party dealings in the context of Xiaoping Chen's overall beneficial ownership.

Stakeholder Impact

• Shareholders, particularly holders of Class A ordinary shares, are impacted by the concentrated voting power, which may reduce their ability to influence corporate decisions.
• The strong control by the founder may provide stability and a clear strategic direction, potentially benefiting long-term investors who align with the founder's vision.

Key Dates

Recommendation

This filing is a routine disclosure of beneficial ownership and does not introduce new financial or operational information that would fundamentally alter the investment thesis. It confirms the founder's significant and established control, which is a known structural characteristic of the company. Therefore, a 'hold' recommendation is appropriate as there's no new catalyst for a change in investment stance based solely on this report.

Keywords

Viomi Technology, Xiaoping Chen, Schedule 13G, Beneficial Ownership, Class A shares, Class B shares, Voting Power, Insider Ownership, Corporate Governance, China, Smart Home