Roborock (688169.SH): Hong Kong IPO Application Expires Upon Termination, a Leading Brand in the Global Smart Robot Vacuum Cleaner Market

Beijing Roborock Technology Co., Ltd. (688169.SH) filed the IPO application with the HKEX on June 27, 2025, with J.P. Morgan and CITIC Securities serving as joint sponsors. Pursuant to relevant rules, the application has expired after the six-month period.

Founded in 2014, Roborock is a leading enterprise in the global smart home robot industry, focusing on smart robot vacuum cleaners and other smart home cleaning products. According to China Insights Consultancy data, the company ranked first in the global smart robot vacuum cleaner market by GMV in 2024 with a market share of 23.4%, and also secured the top position in both GMV and sales volume in the South Korean and German markets.

As of December 31, 2024, the company's products have covered more than 170 countries and regions worldwide, entering over 20 million households. The global sales volume of its smart robot vacuum cleaners increased from approximately 2.246 million units in 2022 to around 3.449 million units in 2024, representing a compound annual growth rate (CAGR) of 24.9%.

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