Zepp Health Corporation provides update on its status under the Foreign Owned Companies Liability Act
BEIJING, May 5, 2022 /PRNewswire/ — Zepp Health Corp. (“Zepp Health” or the “Company”) (NYSE: ZEPP), a provider of cloud-based healthcare services with cutting-edge smart wearable technology, today announced that the company is aware that it has been identified by the Securities and Exchange Commission of United States (the “SEC”) under the name of the United States Holding Foreign Companies Accountable Act (the “HFCAA”) on May 4, 2022. This identification may have resulted from the filing by the Company of the annual report on Form 20- F for the year ended December 31, 2021.
The Company understands that the SEC has made this identification in accordance with the HFCAA and its implementing rules issued thereunder. This indicates that the SEC has determined that the company used an auditor, whose working paper cannot be fully inspected or studied by the United States Public Company Accounting Oversight Board (the “PCAOB”), to issue the audit opinion for the company’s financial statements. for the year ended December 31, 2021.
Pursuant to the HFCAA, a company will be delisted from a US stock exchange if that company has been identified by the SEC for three consecutive years due to the PCAOB’s failure to inspect the auditor’s working paper related to that company.
Zepp Health is actively considering plans to maintain its listing status and to best protect the interests of its stakeholders. The Company will continue to comply with applicable laws and regulations in both China and the United States
About Zepp Health Corporation (NYSE: ZEPP)
Zepp Health is one of the world’s leading developers of smart health technologies, with a mission to connect health with technology. Since its inception in 2013, Zepp Health has developed a proprietary technology platform comprising artificial intelligence chips, biometric sensors, data algorithms and operating systems, which power an expanded range of health devices intelligence for consumers, data analysis services for population health and industrial medicine. technology for diagnosis and care delivery. Zepp Health is one of the world’s largest developers of smart wearable consumer health and fitness devices, shipping 36 million units in 2021. Zepp Health Corp. is based in Hefei, Chinawith operations in the United States, Zepp Health UNITED STATESsituated at Cupertino, California. 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 pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate” , “future”, “intends”, “plans”, “believes”, “estimates”, “confidently”, 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 statements, including, but not limited to, the following: cooperation with Xiaomi, recognition of the society ; the Company’s growth strategies; trends and competition in the global wearable technology market; changes in the Company’s revenues and certain cost or expense accounting policies; government policies relating to the Company’s industry and general economic conditions in China and around the world. 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 statements except as required by applicable law.
For investor and media inquiries, please contact:
Zepp Health Society
Grace Yujia Zhang
E-mail: [email protected]
Piacente Group, Inc.
E-mail: [email protected]
SOURCE Zepp Health Corp.