Text /KimiMa
Product/new business review
"The present achievement must not be the end of our pursuit, because our journey is a sea of stars."
When going public, CEO Chang Jing of Roborock wrote this sentence in an internal letter, which became a brilliant portrayal of Roborock for more than a year.
On March 29th, the "King of Destruction" in the smart home industry made another appearance with brand-new products.
When encountering, automatically lift the carpet, and be careful not to wet the carpet, but to dry and clean it. Whether it is oil or particulate matter, it can be cleaned up vigorously and automatically returned to the warehouse. This dexterous robot is the stone sweeping robot T7 Plus. T7 Plus, a stone sweeping robot, can be regarded as the technical high point of domestic sweeping robots. In addition to the world's first intelligent control lifting acoustic vibration scrubbing module "VibraRise", the automatic lifting scrubbing module almost perfectly solves the carpet cleaning problem.
Roborock has been on the market for over a year. When 2 1 landed on the Science and Technology Innovation Board last February, its IPO price was 27 1. 12 yuan/share, which was called the "IPO price". At the close of March 26th, 20021year, the share price of Roborock was 108 1.73 yuan, which was 299% higher than the issue price. In the past year, many start-ups landed on the science and technology innovation board, and Roborock ranked in the top ten of the science and technology innovation board by market value and became the "star company" of the science and technology innovation board.
Behind the triumphant progress of the stock market, the brilliant company financial report is its most powerful pillar. Roborock's 2020 annual performance report shows that the operating income in 2020 was 4.53 billion yuan, up 7.74% year-on-year; The total profit was 654.38+0.56 billion yuan, a year-on-year increase of 6.885438+0%. By the end of 2020, Roborock's total assets were 7.852 billion yuan, an increase of 299.33% compared with the beginning of the year, and it has obvious advantages in the field of smart home appliances.
Tamping technology has made Roborock what he is now. Going out to sea all over the world shows its great global ambition.
Roborock has a fairly good market share in many markets in the United States and Europe, and its popularity is also rising. According to the data of jungle scouts, in 2020, Roborock GMV accounted for 13% in the sweeper category of Amazon America Station, second only to iRobot (38%); In Europe, Roborock's share has reached 9%, while Cobos's share is only 6%. Under the influence of the epidemic, the biggest driving force for the continuous growth of Roborock's revenue also comes from the increment of overseas markets.
Under the crown of Roborock smart home, it is the gene of the beating global technology leader.
Firstly, the "background color" of robot Locke is perspective.
Behind becoming a global technology leader, the supremacy of science and technology runs through the growth path of Roborock.
At the beginning of its establishment, Roborock's core R&D team had a solid foundation, with technical experts from Microsoft, Huawei and other technology companies in the town. Up to now, the total number of R&D teams in Roborock accounts for more than half of the total number, and more than 300 technical talents are the technical gatekeepers of Roborock. After 20 17, the annual investment of R&D in Roborock has also exceeded 1 100 million, and kept growing, accounting for more than 20%. Only in 2020 10-9, the accumulated R&D expenditure is 654.38+73 million yuan.
With a strong technical research and development team, Roborock has developed rapidly in terms of technical strength. According to the latest published data, Roborock has obtained 207 patents at home and abroad, including 66 invention patents, which have been recognized by authoritative organizations at home and abroad. Roborock's products apply a number of patented technologies, which makes its products have distinct technical advantages.
/On March 29th, Roborock released the new T7 Plus.
Take the newly launched T7Plus as an example, the sound wave vibration sweeping system makes the sweeping ability of the sweeper only need to go up a flight of stairs.
At present, most vibration modules of sweepers in the market have low vibration frequency, poor cleaning effect, high noise and easy to get stuck. T7S Plus, a stone sweeping robot, drives the mop through a high-performance brushless motor, which can achieve 3000 high-frequency vibrations per minute, much higher than other sweepers, and generates sound waves in the water flow on the mop surface, thus disintegrating the ground stains.
In addition to the super cleaning effect, T7SPlus also took the lead in realizing the structural design of the combination of lifting mop and vibrating mop, which can independently switch the automatic lifting mode under various working conditions.
Ultrasonic carpet recognition technology enables robots to judge the floor materials by the inconsistency of ultrasonic echoes on hard floors such as carpets and floor tiles, so as to distinguish different floor materials for cleaning. At the same time, the carpet recognition algorithm and strategy of stone greatly improve the accuracy of carpet recognition.
Path planning and environmental treatment are the most important aspects in the algorithm of sweeping robot. T7S Plus, a stone sweeping robot, incorporates the new RR masonTM 8.0 3D algorithm, and the core indicators such as mapping, planning and liberation are upgraded again. Compared with the previous generation, T7S Plus, a stone sweeping robot, has made significant software iterations for hardware functions such as lifting, vibration and rubber brush. By refining the scene and adding test cases, the path planning is optimized specifically for carpet and floor cleaning scenes.
Looking back on Roborock's flagship products in the past, whether it is the advanced software algorithm technology such as SLAM algorithm and binocular vision algorithm, or the breakthrough in key fields such as lds laser ranging sensor, dual cameras, electric control water tank and intelligent breakpoint continuous scanning, the stone sweeping robot leads the industry in many aspects and continuously drives the company to grow.
For the smart home industry, technology is the lifeblood of growth. With the gradual popularization of Internet of Things, big data and cloud computing, how to create unique advanced technologies and use these technologies to drive product upgrades is very important for smart home enterprises.
In the future, Roborock will actively expand its product categories, and plans to launch hand-held products, home intelligent sweeping robot products with various additional functions and intelligent sweeping robot products for the commercial market, continuously enriching its product lines and further enhancing its market share.
Second, the crazy "stone"
In addition to a strong technical background, the favor of the market has also become an engine to accelerate the explosion of stones.
Since its listing, Roborock has been a star enterprise of the Science and Technology Innovation Board, with the issue price of RMB 2,765,438 +0. 12 yuan per share, which is not only the highest issue price of the Science and Technology Innovation Board stock, but also the record high of the A-share issue price at that time. Only ten months after listing, Roborock's share price has exceeded 1,000 yuan, which makes Roborock another myth of "science and technology innovation board of 1,000 yuan" after Maotai.
Climbing the altar also takes the risk of "falling". However, climbing to the top again in adversity shows the strong growth of Roborock. In February, Roborock ushered in the largest lifting of the ban after listing, and the joint selling of shareholders led to inevitable fluctuations in the stock price. After the storm, Roborock's share price is still firm, and it has regained thousands of dollars, which shows its ability to withstand pressure. In March, Roborock's share price rose all the way, still sitting firmly on the throne of thousands of shares, showing the market's confidence in Roborock.
The popularity of Roborock among investors is closely related to Roborock's optimized business structure and potential growth space. On the one hand, the sales volume of Roborock's own brand has further improved, and products with independent technology have become the main force driving the company's growth. On the other hand, the smart home track market continues to expand, and sweeping robots lead the clean home appliance market.
Driven by the epidemic, the domestic market size of clean household appliances will reach 24 billion yuan in 2020, a year-on-year increase of 20%. It is predicted that in 20021year, high-speed growth will still be the normal state of the market, and the scale of the whole domestic clean household appliances market will reach 30 1 billion, among which the scale of sweeping robots will reach11.200 million.
The future growth space of the track gives Roborock unlimited potential, and "adapting to local conditions" is vividly reflected in Roborock's product development.
"The cleaning habits of domestic and foreign consumers are actually different." Chang Jing described the domestic and foreign markets like this in an interview. "In China or East Asia, the demand for mopping the floor is more obvious. For example, domestic users generally simply sweep the floor, mainly dragging; Overseas, it's more about smoking. For example, vacuum cleaners are very popular overseas. "
/Sweep and drag together to meet the domestic market demand.
The brand-new T7 Plus is the best template for Roborock to adapt to local conditions. The integration of sweeping and dragging just meets the demands of domestic users, and the built-in RR mason 8.0 3D algorithm system is released for complex rooms in China. This algorithm system is established and improved on the basis of user feedback and a large number of user measured data. As of March 20021year, stone products have been upgraded by OTA 1 17 times, which not only reduces the jam of sweeping robots, but also accelerates the improvement of self-cleaning completion rate, making the whole algorithm system more reliable in domestic application scenarios.
Domestic continuous product optimization comes from Roborock's overseas experience.
Third, the global border, "product confidence"
Overseas markets have been a strong growth of Roborock.
According to public data, the penetration rate of sweepers in the United States is about 16%, while that in China is only 4%. This is also the reason why Roborock actively explores overseas markets. As far as the current market situation is concerned, overseas markets are easier to "get through". Roborock also has his own judgment on the growth prospect of the penetration rate of the sweeper.
"China's market environment is more complicated, and there are big differences between cities, so I think it will be better to compare Europe and America with our first-and second-tier cities. The penetration rate of first-and second-tier cities is likely to reach more than 10%, which is even with the United States. However, the penetration rate of third-and fourth-tier cities (10% or more) may take some time. " Chang Jing said this in an interview.
In overseas markets, Roborock handed over a beautiful report card. In 2020, Roborock GMV ranked second with 13%, second only to iRobot(38%). However, judging from the global search popularity of Google Trends, the search popularity gap between stone and iRobot is narrowing, which reflects the gradual improvement of stone's influence in overseas brands. In Europe, Roborock's market share reached 9%, surpassing Cobos's (6%) and becoming a powerful representative of domestic brands.
/Overseas market, becoming the strongest increment in Roborock.
While the market share is increasing, Roborock's products are also very popular in overseas markets. The price of the new S6 MAXV is stable at nearly 600 USD/set, and there is a shortage; The new T7S has introduced a cleaning scheme that is more suitable for carpets according to local conditions. On the basis of the continuous improvement of overseas channels, product strength and brand strength, the export market is expected to continue to improve.
Further in-depth layout of overseas markets has become the next step for Roborock to "go out to sea".
Chang Jing bluntly said that Roborock will continue to exert its strength in overseas markets: "Every country has many channels. Therefore, it can only be said that it has entered some national markets and is far from reaching the state of omni-channel laying. There are still many opportunities for further expansion. "
Looking back at the 2020 financial report, the revenue from overseas markets brought a considerable part of profits to Roborock, and at the same time created extraordinary influence for Roborock in the global market and enhanced its global competitiveness.
Stone high-speed iteration, cutting-edge concept, product specialization route, focusing on building cost-effective high-end brands. Based on the continuous exploration and accumulation of core technologies, Stone's global advantages in product performance, cost, new product iteration speed and design concept innovation speed are the fundamental reasons for its continuous breakthrough in overseas markets. In the future, Roborock will continue its advantages in overseas markets and continue to expand the volume of overseas markets.
The strong strength of overseas markets is an important factor in the globalization of Roborock.
Roborock's success in overseas markets is also a concrete manifestation of China's engineer bonus. China's technological innovation in the field of artificial intelligence has basically kept pace with the international leading level, and Si Tong is the beneficiary and promoter. Many data show that the smart home market will usher in a new turning point of growth, and technology-driven will become the core driving force of smart home enterprises. Building the technical ceiling of the industry also means gaining the absolute advantage of the industry and playing a key role in promoting the progress of the industry. As a leading representative of global smart home research and technology, Roborock will lead the smart home industry to upgrade continuously.
With technology as the sail and products as the paddle, this crazy "stone" has set sail in the global smart home market.