Dreame Technology Founder Refutes Bankruptcy Rumors, Cites Strong Cash Flow
Yu Hao, the founder of Dreame Technology, has publicly dismissed recent rumors suggesting that the company is facing bankruptcy. In a statement made on Thursday, he affirmed that the firm maintains strong cash flow and stable operational status. To demonstrate confidence in the business, Yu revealed that he and the company have invested approximately five billion yuan (about $702 million) over the past two years to repurchase existing shares. This strategic move has increased his personal stake in the company from 45% to 70%. Furthermore, Dreame Technology reported robust financial performance for the current year, with first-half revenue already surpassing its total revenue for the entire year of 2024. The company continues to expand its global footprint, with products now available in more than 100 countries and regions. Additionally, Dreame’s offerings are sold through over 6,000 offline retail stores worldwide, indicating a strong physical presence alongside its digital sales channels. This announcement serves as a direct counter to market speculation regarding the financial health of the prominent smart home appliance manufacturer.
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Dreame Technology Founder Refutes Bankruptcy Rumors, Cites Strong Cash Flow
Yu Hao, the founder of Dreame Technology, has publicly dismissed recent rumors suggesting that the company is facing bankruptcy. In a statement made on Thursday, he affirmed that the firm maintains strong cash flow and stable operational status. To demonstrate confidence in the business, Yu revealed that he and the company have invested approximately five billion yuan (about $702 million) over the past two years to repurchase existing shares. This strategic move has increased his personal stake in the company from 45% to 70%. Furthermore, Dreame Technology reported robust financial performance for the current year, with first-half revenue already surpassing its total revenue for the entire year of 2024. The company continues to expand its global footprint, with products now available in more than 100 countries and regions. Additionally, Dreame’s offerings are sold through over 6,000 offline retail stores worldwide, indicating a strong physical presence alongside its digital sales channels. This announcement serves as a direct counter to market speculation regarding the financial health of the prominent smart home appliance manufacturer.
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