Hong Kong, March 29, 2024 (ots/PRNewswire) – Record-breaking financial success and historic high in total assets
Roborocka global leader in highly intelligent household robotics that simplifies everyday life, today announced its financial results for the fiscal year ended December 31, 2023.
Roborock achieved remarkable financial success during the period, recording revenue of 8.65 billion yuan ($1.22 billion), a significant increase of 30.55% year-on-year. The company reported net profit of 2.05 billion yuan (US$288 million), achieving an annual growth rate of 73.32%.
Roborock’s total assets reached an all-time high of 14.38 million yuan ($2.02 billion), representing a year-on-year growth of 32.71%. These achievements solidify Roborock’s position as a leading player in the smart vacuum industry. The company also posted impressive overseas sales with a growth rate of 21.42%, while total shipments of robot vacuum cleaners surpassed 2 million units.
“Since founding Roborock in 2014, our long-term mindset and relentless commitment to delivering real value to our customers have gotten us to where we are today. It’s been an amazing journey and we’re really proud to emerge as the global leader in smart vacuum cleaners,” said Richard Chang, founder and CEO of Roborock.
“As we approach our 10th anniversary, we are excited to introduce more of our innovative vacuum cleaners, including the S8 MaxV Ultra, which we unveiled at CES 2024. This flagship innovation is our most technologically advanced one-stop cleaning solution to date and underscores our focus on enriching future lifestyles within the smart home ecosystem to improve the quality of life for our customers worldwide.”
Financial Performance Highlights
Sales and net profit
- Total revenue was 8.65 billion yuan (1.22 billion US$)
- Of this, Roborock’s overseas business accounts for 4,23 billion yuan (US$595 million), which accounts for 49% of total sales
- Roborock’s overseas business reported 21.42% year-on-year revenue growth
- The company achieved a net profit of 2.05 billion yuan (US$288 million), with an annual growth rate of 73.32%.
- Roborock’s total assets reached an all-time high of 14.38 billion yuan ($2.02 billion), marking a remarkable 32.71% year-on-year growth.
Growth in all product categories
- Roborock’s total shipments of robot vacuum cleaners exceeded 2 million units, generating income of 8.09 billion yuan ($1.14 billion), and achieving annual growth of 27.14%.
- Roborock recorded rapid growth in all new product categories (product portfolios excluding robot vacuum cleaners), with income of 554 million yuan (US$78 million) and a year-on-year growth of 109.4%.
Research and Development
- Research and development expenditure was 619 million yuan (US$87 million), accounting for 7.15% of total revenue. This corresponds to an increase of 26 69% compared to the previous year.
- In the reporting period, 522 new patents were registered at home and abroad.
Key accounting data and financial indicators for the last 3 years
(Unit: Yuan; Currency: RMB)
2023 2022 Year-on-year growth (%)
Total assets 14,376,641 10,833,053 32.71
614 890
Net assets, 11,380,526 9,556,378 September 19th
122 416
that the
shareholders of the
attributed to listed companies
Revenue 8,653,783 6,628,716 30.55
788 402
Net profit, 2,051,217 1,183,476 73.32
414 942
the the
shareholders of the
attributed to listed companies
Net profit, 1,826,089 1,197,719 52.46
668 439
the the
shareholders of the
listed companies
is attributed, after deduction
more unique
Profits and losses
Netto-Cashflow 2 185 931 1 120 467 95.09
368 567
from operational activities
Information about Roborock
Roborock is committed to innovation in researching, developing and manufacturing household cleaning equipment, especially robots, cordless vacuum cleaners and wet/dry vacuum cleaners. Every Roborock product is designed to solve real problems so Roborock customers can live better lives. Roborock is currently available in more than 40 countries, including the USA, Germany, France and Spain. The company operates from four locations, with offices in Beijing, Shanghai, Shenzhen and Hong Kong. For more information, see https://us.roborock.com/.
Information about exchange rates
This announcement contains the conversion of certain RMB amounts into US dollars at a specified rate for the convenience of the reader. Unless otherwise stated, all conversions from RMB to US dollars and from US dollars to RMB will be made at a rate of 7 1132 Yuan to US$ 1 00, the spot foreign exchange rate as of the annual reporting date of December 31, 2023. The Company makes no representation , that the mentioned RMB or US dollar amounts at a certain rate
or can be converted into US dollars or RMB at all.
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