BEIJING, May 5, 2022
/PRNewswire/ -- Zepp Health Corp. ("Zepp Health" or the "Company")
(NYSE: ZEPP), a cloud-based healthcare services provider with
world-leading smart wearable technology, today announced that the
Company is aware of the fact that it was identified by
the United States Securities and Exchange Commission (the
"SEC") under the Holding Foreign Companies Accountable Act
of the United States (the "HFCAA") on May 4, 2022.
Such identification may have resulted from the Company's filing of
the annual report on Form 20-F for the fiscal year
ended December 31, 2021.
The Company understands that the SEC made such
identification pursuant to the HFCAA and its implementation rules
issued thereunder. This indicates that the SEC has
determined the Company used an auditor, whose working paper cannot
be inspected or investigated completely by the Public Company
Accounting Oversight Board of the United States (the
"PCAOB"), to issue the audit opinion for the Company's financial
statements for the fiscal year ended December 31, 2021.
In accordance with the HFCAA, a company will be delisted from
a U.S. stock exchange if such company has been identified
by the SEC for three consecutive years due to PCAOB's
inability to inspect the auditor working paper related to such
company.
Zepp Health is actively exploring plans
to maintain its listing status and to best protect the interest of
its stakeholders. The Company will continue to comply with
applicable laws and regulations in both China and the U.S.
About Zepp Health Corporation (NYSE: ZEPP)
Zepp Health is a leading global developer of smart health
technology, whose mission is to connect health with technology.
Since its inception in 2013, Zepp Health has developed a platform
of proprietary technology including AI chips, biometric sensors,
data algorithms and operating systems, which drive a broadening
line of smart health devices for consumers, data analytics services
for population health, and industrial medical technology for
diagnostics and care delivery. Zepp Health is one of the largest
global developers of smart wearable health and consumer fitness
devices, shipping 36 million units in 2021. Zepp Health Corp. is
based in Hefei, China, with U.S.
operations, Zepp Health USA, based
in Cupertino, Calif. For more
information, please visit
https://ir.zepp.com/investor/pages/company-profile
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.
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
cooperation with Xiaomi, the recognition of the Company's
self-branded products; the Company's growth strategies; trends and
competition in global wearable technology market; changes in the
Company's revenues and certain cost or expense accounting policies;
governmental policies relating to the Company's industry and
general economic conditions in China and the global.
Further information regarding these and other risks is included in
the Company's filings with the United States Securities and
Exchange Commission. 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:
Zepp Health Corporation
Grace Yujia Zhang
E-mail: ir@zepp.com
The Piacente Group, Inc.
Yang Song
Tel: +86-10-6508-0677
E-mail: zepp@tpg-ir.com
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SOURCE Zepp Health Corp.