Beijing Roborock Technology (688169.SH) has gained worldwide attention with its outstanding performance during "Black Friday", demonstrating its high growth in multiple regions and highlighting its international strength.

Against the backdrop of intensifying competition in the global smart home market, Beijing Roborock Technology (688169.SH) delivered impressive results during the "Black Friday" global sales event in 2024 with a total shipment of 450,000 units, achieving high growth in multiple regional markets. The high growth in multiple regions in the overseas market is attributed to Beijing Roborock Technology's precise positioning in both product and channel strategies, which not only demonstrates its competitive advantage in the global smart home market, but also validates the results of its technological innovation, high-end product strategy, and channel development. North American Market: Leading with high-end products, comprehensive breakthrough in channel performance According to data from Beijing Roborock Technology's "Black Friday" sales, the company achieved a 63% year-on-year increase in online GMV, a 330% year-on-year increase in channel GMV, and a 68% year-on-year increase in official store GMV in the North American market. The Stone Qrevo Curv (P20 Pro in China) became the NO.1 product category on Amazon in North America during Black Friday, while the Stone Q5 Pro ranked first in the best-selling products on Amazon in North America, and the S8 MaxV Ultra ranked first in Amazon's best sellers in the above thousand-dollar category. The success in the North American market is attributed to Beijing Roborock Technology's precise positioning of high-end products. The Beijing Roborock Technology S8 MaxV Ultra, with its leading AI technology and outstanding cleaning performance, has firmly captured the preference of North American consumers for high-quality smart home products. Many consumers have given top-rated reviews. The market performance of products like the Q5 Pro and Qrevo Curv validates Beijing Roborock Technology's success in diversifying its product line. This comprehensive coverage from flagship products to mid-range models not only solidifies Beijing Roborock Technology's foothold in the high-end market, but also allows it to reach more consumer groups through pricing strategies. European Market: Increase in high-end market share, steady position as market leader In the Nordic region, Beijing Roborock Technology's market share in core channels reaches 90%, with a 94% year-on-year increase in sales of high-end models and a 42% year-on-year increase in GMV. In the German market, Beijing Roborock Technology saw a 38% year-on-year increase in GMV online, ranking first in market share on Amazon and with a core channel market share of over 50%. Additionally, Beijing Roborock Technology has 7 products in the top 10 best sellers on Amazon. Products like the Q5 Pro, Qrevo S, and Qrevo Pro have long dominated the top three spots in Amazon's Best Sellers list, while the S8 MaxV Ultra and Qrevo Master have entered the top 3 in the Black Friday Deal category. This impressive performance is a result of Beijing Roborock Technology's long-term channel development and brand building in the European market. Through sustained investment in the high-end market, the company has not only gained consumer recognition for its technological performance, but also strengthened brand loyalty through product upgrades and localized services. In addition, the outstanding performance on mainstream platforms like Amazon reflects the company's absolute advantage in online channels in Europe. It is worth noting that German consumers are highly sensitive to brand trust and product performance, and Beijing Roborock Technology's long-standing reputation and diversified product portfolio have continuously reinforced its leadership position in the German market. It can be said that Beijing Roborock Technology's success in the German market also demonstrates its strong competitive barriers in the overall European market. Emerging Markets: Localized operations drive rapid expansion and breakthrough in multiple categories The Australian market also showed remarkable performance, with Beijing Roborock Technology experiencing a 270% year-on-year increase in GMV and a 443% year-on-year increase in floor washing machine sales, with products like the Q8 Max+, Qrevo, and Flexi Lite ranking in the top three on the Best Sellers list on Amazon Australia. As an emerging market in the smart home field, Australian consumers have a strong demand for multi-functional cleaning devices. Beijing Roborock Technology's significant growth in the Australian market is mainly attributed to the explosive growth of the company's floor washing machine products, with a 443% year-on-year growth reflecting the company's success in expanding into new product categories. The popularity of products like the Q8 Max+ also indicates that the company has received positive market feedback from local consumers. In addition, the explosive growth in floor washing machines reflects Beijing Roborock Technology's potential in diversifying its product offerings, which not only expands its revenue sources, but also strengthens its overall competitiveness in the smart home field. In the Middle East region, including markets such as the UAE and Saudi Arabia, GMV increased by 75% year-on-year, with the S7 MaxV Ultra and S8 MaxV Ultra firmly occupying the top two spots in Amazon's Best Sellers list.In fact, in recent years, the Middle East market is experiencing a rapid development period of smart home popularization. Beijing Roborock Technology has captured the market with high-end products, accurately targeting the needs of Middle Eastern consumers, meeting their demands for technological innovation and performance. In addition, by leveraging the advantages of the Amazon platform, the brand's influence has been enhanced, achieving rapid penetration. In the markets of South Korea and Singapore, Beijing Roborock Technology's performance is equally impressive. In the South Korean market, the products of Beijing Roborock Technology ranked first in the South Korean e-commerce annual promotion GMV, with a 32% year-on-year growth. In Singapore, the GMV on the dual e-commerce platforms also achieved the first place in sales. Clearly, Beijing Roborock Technology has further enhanced its brand influence in regional markets through localized operations and efficient channel layout. Globalization and the synergy of technological innovation Beijing Roborock Technology's outstanding performance during Black Friday is the result of the deep integration of its globalization strategy and technological innovation. From the high-end market in North America, to the Wuxi Online Offline Communication Information Technology Co., Ltd. channel in Europe, and to comprehensive penetration in emerging markets, Beijing Roborock Technology has achieved balanced development in multiple regions with its strong R&D capability and precise market strategy. Analyzing Beijing Roborock Technology's financial data over the years shows that the accumulated R&D investment from 2016 to the third quarter of 2024 is 29.06 billion. Meanwhile, the R&D expenses as a percentage of total revenue from 2016 to 2023 were 21.49%, 9.50%, 3.82%, 4.59%, 5.80%, 7.55%, 7.37%, 7.15%. The R&D expenses as a percentage of total revenue in the first three quarters of 2024 is 9.14%. This level of R&D intensity is not only far above the industry average but also places the company in a leading position among A-share small household appliance enterprises, laying a solid foundation for the company's future expansion into multiple categories. With technological innovation at its core, Beijing Roborock Technology continues to introduce industry-leading products. For example, the Z1 series washing and drying machine equipped with molecular sieve low-temperature drying technology has successfully solved the problem of damage to clothes from traditional high-temperature drying, further consolidating the company's competitiveness in the high-end market. At the same time, Beijing Roborock Technology's latest integrated vacuum and mopping product A30 Pro has also entered the best-selling list in the "floor cleaning machine new product" market with its innovative design. These high-value-added products not only demonstrate the company's R&D strength but also successfully avoid the impact of price wars, establishing a clear differentiation in competitive advantage. According to Beijing Roborock Technology's latest released third quarter report in 2024, the company's operating income for the first three quarters was 7.007 billion yuan, a year-on-year increase of 23.17%; the net profit attributable to shareholders of the listed company was 1.472 billion yuan, a year-on-year increase of 8.22%. In addition, Beijing Roborock Technology will continue to deepen its efforts in artificial intelligence, sensor technology, path planning algorithms, and other cutting-edge fields. By June 2024, the company had obtained 2,798 authorized patents at home and abroad, including 262 invention patents. It is worth noting that as of the end of the third quarter of 2024, Beijing Roborock Technology's total current assets reached 10.528 billion yuan, with total cash and tradable financial assets of 6.567 billion yuan, demonstrating strong financial reserves and risk resistance. This deep financial accumulation enables Beijing Roborock Technology to confidently respond to short-term market fluctuations while increasing investment in R&D and channels, building long-term competitiveness for the future. Clearly, driven by the dual engines of technological innovation and global layout, Beijing Roborock Technology has achieved comprehensive success in overseas "Black Friday" promotions, steadily moving towards its further goal in the global smart home field, providing consumers with more high-quality smart living solutions.