Corporate ActionApr 26, 2026, 05:24 AM
ZEPP Changes Reporting Currency to US$; Adjusts ADS Ratio 1:16
AI Summary
Zepp Health Corp. filed its 20-F annual report, announcing a change in its reporting currency from Renminbi to U.S. dollars, effective from Q2 2024, to better reflect its U.S. dollar-exposed sales. The company also effected an ADS ratio change on September 16, 2024, adjusting it from one ADS representing four Class A ordinary shares to one ADS representing 16 Class A ordinary shares. The report details the company's global smart wearable and health technology business, its Cayman Islands holding company structure, and reliance on Variable Interest Entities (VIEs) for operations in China, highlighting associated legal and operational risks, including those related to PRC government oversight and the HFCAA.
Key Highlights
- Reporting currency changed from Renminbi to U.S. dollars effective Q2 2024.
- ADS ratio adjusted on September 16, 2024, from 1:4 to 1:16 Class A ordinary shares per ADS.
- VIEs contributed 40.1% of total revenues in 2023, 18.0% in 2024, and 8.0% in 2025.
- Shipped over 200 million smart wearable devices since inception in 2013.
- Served over 53 million users in over 90 countries.