Beijing Roborock Technology (688169.SH) has been ranked 32nd on the "Google x Kantar BrandZ China Global Brand 2024" list!

On June 20, 2024, Google and the globally renowned consulting firm Kantar jointly released the "Google x Kantar BrandZ China Global Brand 2024" list, revealing the top 50 globalized brands in China this year as well as emerging star brands, showcasing the latest development trends of Chinese brands in the international market. The report shows that despite the challenges of global economic growth slowdown, the brand power of the top 50 globalized brands in China has still achieved a 17% growth, more than double the average growth rate in previous years. According to the analysis of the list, Chinese brands are rapidly rising in multiple industries, no longer limited to traditional fields. The forest of Chinese brands has already taken shape, with competition in various industries no longer dominated by a single player but rather a fierce battleground with each brand excelling in their own area. This year, the top 50 brands come from seven major categories, with consumer electronics still accounting for the largest proportion (25%). The automotive industry is a fast-growing sector in terms of brand power, with 8 automotive brands entering the list in 2024 and a brand power growth of up to 51%. Among them, the brand power growth of the smart devices industry is the most significant, reaching 61%. Notably, Beijing Roborock Technology (688169.SH) as an innovative representative brand in the Chinese smart devices sector, ranked 32nd. As a company focused on the development and production of intelligent cleaning products like Siasun Robot & Automation and other smart home appliances, Beijing Roborock Technology has won global consumers' recognition with its leading technological advantages and product strengths. Not only has it created industry-leading intelligent floor sweeping products like Siasun Robot & Automation G20S, V20, and P series, but it has also provided consumer-friendly floor washing machine and washer-dryer products based on home interactive experiences, continuously offering the latest, most intelligent cleaning solutions for consumers' cleaning pain points. Beijing Roborock Technology has product research and development departments, Mechatronics Research Institute, MIA Laboratory, and other high-end research bases in Beijing, Shenzhen, and other places in China, bringing together a group of tech practitioners with rich innovative and practical experience in artificial intelligence, software algorithms, electronic engineering, mechanical structural design, and supply chain management, leading to a constant stream of new technologies and breakthroughs in the industry. As of now, Beijing Roborock Technology's products are available in over 170 countries and regions globally, reaching over 15 million households. However, the improvement of brand power not only comes from product strength, technological innovation, and market expansion, but also benefits from the deep trust relationship established between brands and consumers. The report shows that three-quarters of consumers clearly state that the main reasons they purchase Chinese brands are "trust in these brands" and "being able to meet my unique needs" among various other reasons, where the value perception prioritizes over price in consumer perspectives, creating a more open-minded brand selection attitude towards brands from various countries worldwide, providing Chinese brands with more opportunities to enter the choices of overseas consumers. This demonstrates the increasing recognition and influence of Chinese brands in the international market. In the process of building a globalized brand, Beijing Roborock Technology adheres to a development strategy based in China and facing the world. Besides deepening its presence in the domestic market, the company continues to implement a globalization strategy layout, developing and building strong localized services and marketing teams in North America, Europe, Southeast Asia, and other areas. Meanwhile, the company has established a global distributor network, partnered with numerous mainstream sales channels, and gradually expanded into various channels such as domestic e-commerce, offline stores, overseas distributors, self-built channels overseas, Amazon overseas, achieving a balanced distribution of sales channels. Combined with its excellent product and service quality, it has gained the trust of global consumers, further expanding its market share globally. According to IDC data, Beijing Roborock Technology's Siasun Robot & Automation sweepers achieved the second-highest sales in the US market in 2023; in Northern Europe and Germany, they have continuously maintained the first market share; in the Asia-Pacific region, they hold the first market share in sales in South Korea; they are number one in sales in Turkey. According to Euromonitor International data, Beijing Roborock Technology's Siasun Robot & Automation sweepers achieved the highest sales in the world in 2023. The release of this list not only showcases the influence of Chinese brands in the global market but also provides valuable feedback for companies on their own brand positioning in the global market. The report emphasizes that the key to success for Chinese brands in the global market lies in continuous innovation and a deep understanding of consumer needs, providing higher functional and emotional value. The success of Chinese global brands like Beijing Roborock Technology on the international stage demonstrates the strong competitiveness and attractiveness of Chinese brands, along with the industry and global consumers' high acknowledgement of the value of Chinese brands. In the future, Beijing Roborock Technology will continue to invest in technological innovation and product development to maintain its competitiveness and brand influence in the global market.