/C O R R E C T I O N -- Roborock/

In the news release, Roborock Reports 2023 Full Year Financial Results, issued 28-Mar-2024 by Roborock over PR Newswire, we are advised by the company that in the first bullet point of "Growth across Product Categories", the USD amount should read "[billion]" rather than "[million]" as originally issued inadvertently and the photo is also updated. The complete, corrected release follows:

 

Roborock Reports 2023 Full Year Financial Results

Achieving Record-breaking Financial Success and Reaching Historic High in Total Assets

HONG KONG, March 28, 2024 /PRNewswire/ -- Roborock, a global leader in ultra-intelligent home robotics engineered to simplify daily life, today announced its financial results for the full year ending December 31, 2023.

Roborock achieved remarkable financial success during the reporting period, posting revenue of 8.65 billion Yuan (US$1.22 billion), representing a significant 30.55% Year-On-Year increase. The company recorded a 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 billion Yuan (US$2.02 billion), reflecting Year-On-Year growth of 32.71%. These achievements solidify Roborock's position as one of the leading players in the smart vacuum industry. The company also recorded impressive overseas revenue, growing at a rate of 21.42%, while total robot vacuums shipments surpassed 2 million units.

"Ever since we founded Roborock back in 2014, our long-term mindset and unwavering commitment to focusing on delivering true value to our customers is what has gotten us to where we are today. It's been an amazing journey, and we are truly proud to emerge as a global leader in smart vacuums." said Richard Chang, Founder & CEO of Roborock.

"As we approach our 10-year anniversary, we are excited to introduce more of our cutting-edge vacuums, including the S8 MaxV Ultra which we unveiled at CES 2024. This flagship innovation represents our most technologically advanced one-stop cleaning solution to date, underlining our focus on enriching future lifestyles within the smart home ecosystem to enhance the quality of life for our customers worldwide."

Financial Performance Highlights

Sales and Net Profit

• Total revenue recorded was 8.65 billion Yuan (US$1.22 billion)
• Of this, 4.23 billion Yuan (US$595 million) is attributed to Roborock's overseas operations, accounting for 49% of total revenue
• Roborock's overseas operation recorded a revenue growth of 21.42% compared to the previous year
• 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 a historic high of 14.38 billion Yuan (US$2.02 billion), reflecting a remarkable 32.71% Year-On-Year growth

Growth across Product Categories