Amid the rapid development of the global smart home appliance industry, industry leader Beijing Roborock Technology has chosen a steady and innovative long-term path.

Through technological innovation, multi-category expansion, and global layout, Beijing Roborock Technology has not only maintained a leading position in the industry competition but also demonstrated unique advantages in financial stability and strategic foresight. According to the latest quarterly report for 2024 released by Beijing Roborock Technology, the company's revenue for the first three quarters of the year was 7.007 billion yuan, a year-on-year growth of 23.17%; the net income attributable to the shareholders of the listed company was 1.472 billion yuan, a year-on-year growth of 8.22%.

It is worth noting that by the end of the third quarter of 2024, Beijing Roborock Technology's total current assets reached 10.528 billion yuan, with a total of 6.567 billion yuan in cash and cash equivalents and trading financial assets, demonstrating strong financial reserves and risk resistance capability. This deep financial accumulation enables Beijing Roborock Technology to calmly deal with short-term market fluctuations, while increasing investment in research and development and channels to build long-term competitiveness for the future.

Beijing Roborock Technology's founder and CEO, Chang Jing, has stated that the company's competitive advantage mainly relies on technological accumulation. Since the independent research and development of LDS lidar and SLAM algorithms in 2016, Beijing Roborock Technology has been the first to widely apply lidar technology globally, continuously upgrading its obstacle avoidance and navigation technologies. In 2020, the company innovatively introduced AI binocular obstacle avoidance and 3D dual-line structured light technology, applying drone and autonomous driving technology to robotic vacuum cleaners, driving technological innovation in the industry. By 2024, it has introduced the world's first dual-source solid-state lidar navigation, enhancing mapping speed and positioning accuracy. The body is equipped with front and rear 3D ToF solid-state lidar and RGB cameras, achieving rapid obstacle avoidance and precise cleaning products.

With technological accumulation, Beijing Roborock Technology has not only continuously innovated in the field of smart robotic vacuum cleaners but also expanded to new products such as all-in-one washer-dryers and floor washing machines through technical accumulation and product differentiation advantages. Expanding market boundaries with a diversified product matrix. In addition, Beijing Roborock Technology has established a high-end brand image in the domestic and international markets through technology-driven and high-end positioning, with continuous investment and innovation in research and development, leading its products in performance and user experience in the market.

With multiple investments in funding, research and development, and marketing, Beijing Roborock Technology's efforts have begun to show results. During the "Singles' Day" period in 2024, the company's multi-category product sales flourished across different platforms. On the JD platform, the overall sales increased by 196% year-on-year, with floor washing machine and washer-dryer sales increasing by 239% and 282% respectively. On the Tmall platform, washer-dryer sales increased by 408% year-on-year, and multiple products ranked high on the best-selling list. On the Douyin platform, robotic vacuum cleaner, floor washing machine, and washer-dryer sales increased by 105%, 2532%, and 12672% year-on-year respectively, dominating multiple brand and product sales charts.

These achievements indicate that Beijing Roborock Technology's multi-category strategy and marketing layout are unleashing strong market potential, becoming a powerful engine to drive the company's future growth.

Caxin Securities stated that the company's increased investment in overseas market self-operated channels, channel structure adjustments, and early cost investments are impacting current profits: initially, the company entered the European market with high-profit offline distribution channels to strengthen channel control. Starting from the second half of 2023, the company has accelerated the construction of online self-operated channels in overseas markets. At the same time, in the domestic market, with major promotional points overlapping government subsidies, Q4 is expected to see significant improvement month-on-month: to accelerate product popularity, the company further expanded the price bands of its products. In August and September of this year, the company released the popular P20Pro and high-end G20S Ultra models to cover a wider range of customer needs. Since the implementation of government subsidy policies nationwide in August, robotic vacuum cleaners have been included in the scope of home appliance trade-ins for new ones, showing a significant growth in the industry. According to Avicloud data, the online sales growth rates for robotic vacuum cleaners in weeks 41/42/43 of 2024 reached 568%, 1945%, and 583% respectively. Therefore, we believe that the company's domestic sales revenue in the fourth quarter will see a significant boost.