Shanghai Securities News China Securities Network News Roborock (688169), a leading domestic intelligent cleaning equipment company, recently released its 2024 annual report, and the company's annual operating income was 11.945 billion yuan, a year-on-year increase of 38.03%; The net profit attributable to the parent company was 1.977 billion yuan, and the contribution of overseas markets continued to expand. During the reporting period, the company achieved breakthroughs in both domestic and foreign businesses through the upgrading of product matrix, optimization of channel structure and deepening of globalization strategy, and its global market share ranked first in the industry.

According to the data, Roborock's global shipment market share will reach 16% in 2024, accounting for 22.3% of sales, surpassing iRobot to become the world's No. 1 for the first time. In the North American market, the company's market share has climbed to 57%, covering 1,398 Target stores and 900 Bestbuy stores. By entering international retail giants such as Amazon and Home Depot, and simultaneously expanding offline channels, the proportion of the company's overseas self-operated channels has increased significantly, and its brand influence has continued to increase.

Product-side innovation has become the core driving force for growth. The company's new robotic arm flagship products have accelerated the industry's upgrade to embodied robots, and multi-price products cover low, medium and high-end markets. The revenue in the fourth quarter of 2024 surged by 65.94% year-on-year, and the single-quarter revenue was close to the sum of the second and third quarters, indicating the successful transformation of the market strategy from high net profit margin to scale expansion.

Kaiyuan Securities analysis pointed out that benefiting from domestic policy support and overseas consumption recovery, the company's revenue growth in the first quarter of 2025 is expected to further increase. As of February 2025, the volume and price of domestic sweeper online channels have risen; In the overseas market, the sales of Meiya and Deya platforms increased by 30% and 78% respectively in January, confirming the effectiveness of global layout.

In terms of technological innovation, Roborock has put forward the strategic direction of "non-inductive cleaning". Qian Qijie, president of the company's cleaning product BU, said that in the future, sweeping robots will realize independent planning and active service, and users can complete the whole process of cleaning without intervention. This technological leap from "passive execution" to "active perception" marks that the industry is moving towards a higher stage of intelligence.

With the increasing penetration rate of smart homes, Roborock has built a differentiated competitive advantage through R&D investment and global layout. In 2024, the company's R&D expenses will increase by 28.5% year-on-year, and it will continue to make breakthroughs in AI algorithms, navigation technology and other fields. Industry insiders pointed out that in the context of intensified competition in the industry, Roborock is expected to consolidate its leading position in the global market and bring consumers a smarter cleaning experience by virtue of product innovation and channel advantages. (Chen Xi).