STATEMENT

Statement Regarding Recent Product Incident and Corporate Structure 

We are aware of the recent fan explosion incident reported in South Korea. Smartmi takes product safety very seriously and is currently reviewing the matter internally.

For clarity, Smartmi has operated as an independent company since 2014, developing and managing its own product lines and quality control processes under the Smartmi brand. The product in question was solely manufactured and distributed by Smartmi.

As of now, Xiaomi holds a minority of Smartmi’s shares and is not involved in the production or sale of Smartmi-branded products.

We appreciate the continued support and understanding of our customers.