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CES strengthens as the global convener of the tech ecosystem solving challenges and improving lives ARLINGTON, Va., March 27, 2025 /PRNewswire/ -- The Consumer Technology Association (CTA)® announces independently audited data for CES® 2025, the most powerful tech event in the world, revealing an increase in attendance from senior-level executives, investors, and media. A total of 142,465 participants from across the globe attended CES to explore innovation and technology addressing global challenges and shaping the future. "CES is where the global tech community meets to set the agenda for the year ahead," said Gary Shapiro, CEO and Vice Chair, CTA. "The exhibits, speakers, meetings, and moments of serendipity on the show floor and in conference halls move innovation forward and catalyze solutions making the world better." The tech ecosystem converged in Las Vegas to forge deals, create jobs, and drive global growth. Additional attendance numbers include: 57,401 (40%) international attendees, demonstrating CES's continued global influence 4500+ registered exhibitors, including a buzzing startup community of 1400 exhibitors at Eureka Park 6582 members of the media 305 of the Fortune Global 500 companies represented 300+ conference sessions with 1200+ speakers "CES is once again the largest audited annual business event," said Kinsey Fabrizio, President, CTA. "We know that exhibitors, media, and attendees spend time, resources, and effort to come to CES, and we're proud to share trustworthy, verified data to justify their investments." CES isn't just about bringing crowds to the show floor and conference programming, it's about bringing together the right communities to drive the industry forward. The CES 2025 audit also confirmed that CES is a gathering place for leaders across important verticals in tech like AI, robotics, health, and entertainment and advertising. AI continued to be the top interest area for attendees, with growing interest in robotics. Digital health industry attendance increased by 13% from CES 2024. Entertainment and advertising community attendance grew by 11% from CES 2024. International diplomats and policy leaders also get together to explore the opportunities and challenges of scaling innovation globally. At CES 2025, 158 government guests from across the globe participated in CTA's Leaders in Technology program during the transition to a new U.S. administration. CES attendance numbers are independently audited exceeding the auditing standards of UFI, The Global Association of the Exhibition Industry. Independent audits with a third party are crucial to maintaining trust, ensuring accurate data, and fostering transparency for all stakeholders. CTA advocates that exhibitors request third-party audits for the events in which they participate. The CES 2025 Audit is available here. CES will return to Las Vegas from January 6-9, 2026. About CES®: CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world's biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA)®, CES features every aspect of the tech sector. CES 2026 takes place Jan. 6-9, 2026, in Las Vegas. Learn more at CES.tech and follow CES on social. About Consumer Technology Association (CTA)®: As North America's largest technology trade association, CTA is the tech sector. Our members are the world's leading innovators – from startups to global brands – helping support more than 18 million American jobs. CTA owns and produces CES® – the most powerful tech event in the world. Find us at CTA.tech. Follow us @CTAtech.
MILPITAS, Calif., March 27, 2025 /PRNewswire/ -- Zepp Health Corporation ("Zepp" or the "Company") (NYSE: ZEPP) today announced its unaudited financial results for the fourth quarter of 2024. Fourth Quarter 2024 Financial and Operating Highlights: Revenue reached US$59.5 million representing a 40.2% of quarter over quarter increase, out of which our Amazfit-branded products grew by 43.4% quarter-over-quarter. Gross margin was 36.8% compared with 34.7% in the same period last year. Adjusted operating loss[1] was US$7.4 million, which was the lowest level in 2024. Full Year 2024 Financial and Operating Highlights: Gross margin was 38.5% compared with 26.2% in the full year of 2023. Adjusted operating expenses[2] was US$110.4 million, compared with US$111.7 million in the full year of 2023. [1] Adjusted operating income/(loss) represents operating income/(loss) excluding: (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. Please refer to the section titled "Reconciliation of GAAP and non-GAAP results" [2] Adjusted operating expenses represent operating expenses excluding (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. Please refer to the section titled "Reconciliation of GAAP and non-GAAP results" Mr. Wang 'Wayne' Huang, Chairman and CEO of Zepp, commented, "In the fourth quarter of 2024, despite macroeconomic challenges and supply bottlenecks, we kept transitioning to a higher-margin, enhanced brand power model. Our fourth quarter of 2024 sales rose 40% quarter-over-quarter, in line with guidance. In 2024, our gross margin was 38.5%, up from 26.2% in 2023. We ended the year with US$111 million in cash, enabling investment and market response. The T-Rex 3 became a dark horse in the outdoor and sports watch market. Six months after launch, user activations rose steadily, with plenty of positive feedback from users and KOLs. We're confident it'll keep rising, driving Amazfit sales with good margins and bringing us closer to near-term profitability." Wayne added, "In branding, we've been beefing up the Amazfit athletes team. Five-time Olympic medallist Gabby Thomas and Italian tennis star Jasmine Polini recently joined as Athlete Ambassadors. We're also deepening the HYROX collaboration and will launch more powerful HYROX products and features. These partnerships have boosted confidence among major offline key account partners in the US and Europe, who have allocated us more display space to replace competitors' counters, which will fuel growth in the second half of the year. " Wayne concluded: "Leveraging Active 2 and Bip 6 series, we're expanding market share, growing the entry-level user base, and enhancing brand influence in the value-for-money segment, especially in emerging markets. Since its launch in the first quarter, Active 2 has gained strong momentum in Europe and the U.S., with excellent media reviews calling it the best smartwatch at the $100 price point, and very positive user feedback. On the technology side, we're advancing Zepp OS with OpenAI 4.5 integration. In nutrition tracking, our food logging feature by picture and video analytics within the Zepp App is now available in Europe and North America, receiving increasingly strong user adoption. To accelerate large-scale deployment of both Zepp OS and food logging capabilities, we're exploring DeepSeek's power to significantly reduce processing costs. With a robust roadmap and an integrated ecosystem, we've never been more confident about our future." Zepp Health's CFO, Mr. Leon Deng, said, "The fourth quarter of 2024 revenue grew 40.2% quarter-over-quarter due to T-Rex 3 launch, but declined 28.3% YoY due to product structure changes and macro headwinds. The gross margin was 36.8% in the fourth quarter 2024, up from 34.7% in the fourth quarter of 2023 and grew from 26.2% in the full year of 2023 to 38.5% in the full year of 2024, helped by better product mix and brand awareness. Operating costs were in check and aligned with guidance, achieving the highest quarterly adjusted EBIT[3] in 2024, moving towards break even. The fourth quarter of 2024 GAAP loss was US$36.9 million with various provisions, which are non-cash and one-off in nature. As of December 31, 2024, the company had US$111 million in cash, down from US$140 million as of Dec 31, 2023, mainly due to lower operating profit offset by better working capital management. Inventory balance stood at US$56.8 million on Dec 31, 2024, it was the lowest since 2018. By February 2025, the company has successfully refinanced majority of its short-term debts maturing in 2025 into long-term debt instruments with a low coupon rate. Following this adjustment, long-term debt accounts for around 75% of the company's overall debt structure. Since the first quarter of 2023, US$56.3 million of the total debt had been retired and the capital structure would be further optimized as operating cash flow strengthened. We are pleased to see that revenue resumed an upward trend in the first quarter of 2025, boosting confidence for 2025. The share repurchase program would continue in 2025, showing faith in Zepp Health's long-term potential and commitment to shareholder value." [3] Adjusted EBIT is a non-GAAP financial measure, which is defined as net loss, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, (vi) income tax (benefit)/ expense, and (vii) interest income and interest expense. Fourth Quarter 2024 Financial Results Revenues Revenues for the fourth quarter of 2024 reached US$59.5 million, a decrease by 28.3% from the fourth quarter of 2023. The decrease was primarily due to the decrease in the sales of Xiaomi wearable products, as well as the decrease in sales of Amazfit-branded products, due to different new product launch timing and product mix, with fewer SKUs currently on sale compared to 2023. Also, supply was still somewhat constrained by the production capacity for T-Rex 3 in the fourth quarter. However, compared with the third quarter of 2024, revenue of Amazfit-branded products increased by 43.4%, which is the highest quarter-over-quarter increase in 2024, the increase was primarily driven by the positive market reception of our recent launches, especially the newly introduced Amazfit T-Rex 3, and our core products such as Balance, Active, have seen continued popularity and growing demand. Gross Margin Gross margin in the fourth quarter of 2024 was 36.8%, compared to 34.7% in the same period of 2023. Higher gross margin of self-branded products was primarily driven by the product mix, especially higher gross margin of T-Rex 3.We expect the positive gross margin trend to continue into 2025 with the new product launches, such as Amazfit Active 2 and Amazfit Bip 6. Research and Development Expenses Research and development expenses in the fourth quarter of 2024 were US$11.1 million, a decrease by 0.6% year-over-year. The decrease was as a result of our refined research and development approaches, as we consistently evaluated resource efficiency to ensure maximum return on investment and productivity. We are committed to investing in new technologies and AI to maintain our competitive edge against our peers. Selling and Marketing Expenses Selling and marketing expenses in the fourth quarter of 2024 were US$13.3 million, an increase by 10.6% year-over-year. The increase was primarily due to the peak season for promotional campaigns to build brand recognition and drive sales growth. At the same time, we consistently pushed on retail profitability and channel mix improvement, which included meticulous refinement of our retail channels and strategic staffing arrangements across sales regions. We are committed to investing efficiently in marketing and branding to ensure our sustainable growth. General and Administrative Expenses General and administrative expenses were US$6.6 million in the fourth quarter of 2024, an increase by 28.5% year-over-year. The increase was largely attributable to provision for bad debt and foreign exchange rate fluctuations. Operating Expenses Total operating expenses for the fourth quarter of 2024 were US$30.9 million, an increase by 9.4% year-over-year. Adjusted operating expenses, which exclude share-based compensation and amortization of intangible assets resulting from acquisitions and business cooperation agreements, were US$29.3 million. The increase was primarily due to the launch of various marketing campaigns to build brand recognition and drive sales growth and provision for bad debt. We will maintain our cost-conscious approach in the upcoming quarters. Concurrently, we remain committed to investing in R&D and marketing activities to ensure our long-term competitiveness. Operating Income/(Loss) Operating loss for the fourth quarter of 2024 was US$8.9 million, compared to operating income of US$0.6 million for the fourth quarter of 2023. Adjusted operating loss for the fourth quarter of 2024 was US$7.4 million, compared to adjusted operating income of US$3.0 million for the fourth quarter of 2023. The loss was mainly due to lower sales volume, which resulted in an inability to fully cover operating expenses. The adjusted operating loss was the narrowest among four quarters in 2024. Net Income/(Loss) Net loss attributable to Zepp Health Corporation for the fourth quarter of 2024 was US$36.9 million, compared to net loss of US$1.3 million in the fourth quarter of 2023, which included operating loss of US$8.9 million, income tax impacts of US$13.6 million (primarily result from valuation allowance for deferred tax assets) and net investment results of US$12.9 million (including impairment loss from investments, loss from equity method investments, loss from fair value change of long-term investment), both are non-recurring and non-cash in nature. Adjusted net loss attributable to Zepp Health Corporation[4] was US$22.5 million, compared to adjusted net loss of US$0.5 million in the fourth quarter of 2023. Adjusted EBIT in the fourth quarter of 2024 was loss of US$8.2 million, it represents the narrowest loss among all four quarters in 2024. [4] Adjusted net income/(loss) attributable to Zepp Health Corporation represents net income/(loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, and (vi) tax effects of the above non-GAAP adjustments. See "Reconciliation of GAAP and non-GAAP results" at the end of this press release. Liquidity and Capital Resources As of December 31, 2024, the Company had cash and cash equivalents and restricted cash of US$111 million, compared with US$140 million of cash balance as of December 31, 2023, the result is driven by US$56.7 million adjusted net loss for the year of 2024, offset by US$27.7 million tighter working capital management. The decrease of cash balance was mainly the result of the operating activities. This cash position provides ample runway for the Company to invest and seize potential market opportunities. The Company continued to manage its working capital and inventory efficiently and recorded inventory of US$56.8 million as of December 31, 2024, it was the lowest level since 2018. We will continue to manage working capital tightly. By February 2025, we have successfully refinanced majority of our short-term debts maturing in 2025 to a multi-year long term debt maturing in 2027 and beyond with a lower interest rate. Starting the first quarter of 2023, we have initiated the retirement of our short/long-term debt portfolio. Since then, and including the fourth quarter of 2024 we have successfully retired US$56.3 million of debt. As our operating cash flow continues to strengthen, we will continue to optimize the capital structure for the company. Shares Outstanding As of December 31, 2024, the Company had a total of 232.0 million ordinary shares outstanding, representing the equivalent of 14.5 million ADSs assuming the conversion of all ordinary shares into ADSs. Share Repurchase Program Update The Company announced in its third quarter 2021 earnings release that the board had authorized a share repurchase program of up to US$20 million through November 2022. On November 21, 2022, the board authorized a 12-month extension of the Company's share repurchase program. On November 20, 2023, the board further authorized the Company to extend its share repurchase program for another 12 months. On November 18, 2024, the board further authorized the Company to extend its share repurchase program for another 24 months. Pursuant to the extended share repurchase program, the Company may repurchase its shares in the form of ADSs and/or ordinary shares through November 2026 with an aggregate value equal to the remaining balance under the share repurchase program. As of December 31, 2024, the Company had used US$15.0 million to repurchase approximately 1.9 million ADSs. The Company expects to fund the repurchases under the extended share repurchase program out of its existing cash balance. Full Year 2024 Revenues Total revenues of 2024 reached US$182.6 million, a decrease of 48.3% from the full year of 2023. The decrease in total revenues mainly resulted from an 88.0% decline in the sales of Xiaomi wearable products. In 2024, Amazfit-branded products accounted for 94.0% of our total revenues, compared with 73.9% in 2023. Sales of our Amazfit-branded product decreased by 34.2% as compared with 2023. This was mainly because in 2024 we only have one new product (Amazfit T-Rex 3), which was launched by the end of third quarter. Gross Margin Gross margin in the full year 2024 was 38.5%, 12.3 percentage points higher than 26.2% in the full year of 2023. The higher gross margin of Amazfit-branded products was very much driven by the product mix, especially higher gross margin of newly launched products. Research and Development Expenses Research and development expenses for the full year 2024 were US$46.2 million, a decrease of 10.4% year-over-year. The decrease was as a result of our refined research and development approaches, as we consistently evaluated resource efficiency to ensure maximum return on investment and productivity. We are committed to investing in new technologies and AI to maintain our competitive edge against our peers. Selling and Marketing Expenses Selling and marketing expenses for the full year 2024 were US$46.5 million, an increase of 4.4% year-over-year. The increase was primarily due to the launch of various marketing campaigns for our products, as well as the expansion of our Amazfit Athletes team by partnering with renowned athletes to build brand recognition. At the same time, we consistently pushed on retail profitability and channel mix improvement, which included meticulous refinement of our retail channels and strategic staffing arrangements across sales regions. We are committed to investing efficiently in marketing and branding to ensure our sustainable growth. General and Administrative Expenses General and administrative expenses were US$24.9 million in the full year 2024, a decrease of 7.2% year-over-year. The decrease was largely attributable to strict administrative expense control. Operating Expenses Total operating expenses for the full year 2024 were US$117.5 million, a decrease of 4.3% year-over-year. Adjusted operating expenses, which exclude share-based compensation expenses and amortization of intangible assets resulting from acquisitions and business cooperation agreements, were US$110.4 million, compared with US$111.7 million for the full year 2023. We plan to continue our focus on cost efficiency in the upcoming year. At the same time, we are dedicated to invest in R&D and marketing efforts, which are essential for maintaining our competitive edge over the long term. Net Income/(Loss) Net loss attributable to Zepp Health Corporation for the full year of 2024 was US$75.7 million, compared with US$31.0 million in net loss in 2023. The adjusted net loss attributable to Zepp Health Corporation was US$56.7 million, compared with the adjusted net loss of US$21.3 million for the same period of 2023. The adjusted EBIT for the full year of 2024 was loss of US$40.9 million, compared with loss of US$19.8 million in 2023. In the full year of 2024, the Company recorded income tax impacts of US$13.7 million (primarily resulting from valuation allowance for deferred tax assets) and net investment results of US$12.3 million (including impairment loss from investments, loss from equity method investments, and gain from fair value change of long-term investment), both are non-recurring and non-cash in nature. Outlook For the first quarter of 2025, the Company's management currently expects net revenues to be between US$40 million and US$45 million, representing 14% to 29% growth for revenue of Amazfit-branded products compared with first quarter of 2024. This outlook is based on current market conditions and reflects the Company's current and preliminary estimates of market, operating conditions and customer demand, which are all subject to change. Conference Call The Company's management team will hold a conference call at 7:00 p.m. Eastern Time on Wednesday, March 26, 2025 to discuss financial results and answer questions from investors and analysts. Listeners may access the call by dialing: US (Toll Free): +1-888-346-8982 International: +1-412-902-4272 Mainland China (Toll Free): 400-120-1203 Hong Kong (Toll Free): 800-905-945 Hong Kong: +852-3018-4992 Participants should dial in at least 10 minutes before the scheduled start time and ask to be connected to the call for "Zepp Health Corporation". Additionally, a live and archived webcast of the conference call will be available at http://ir.zepp.com. A telephone replay will be available one hour after the call until April 2, 2025 by dialing: US Toll Free: +1-877-344-7529 International: +1-412-317-0088 Replay Passcode: 1239487 About Zepp Health Corporation Zepp Health Corporation (NYSE: ZEPP) is a global smart wearable and health technology leader, empowering users to live their healthiest lives by optimizing their health, fitness, and wellness journeys through its leading consumer brands, Amazfit, Zepp Clarity and Zepp Aura. Powered by its proprietary Zepp Digital Management Platform, which includes the Zepp OS, AI chips, biometric sensors and data algorithms, Zepp delivers cloud-based 24/7 actionable insights and guidance to help users attain their wellness goals. To date, Zepp has shipped over 200 million units, and its products are available in more than 90 countries and regions. Founded in 2013 as Huami Corp., the Company changed its name to Zepp Health Corporation in February 2021 to emphasize its health focus with a name that resonates across languages and cultures globally. Zepp has team members and offices across globe, especially in Europe and USA regions. Use of Non-GAAP Measures We use adjusted net income/(loss), a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. Adjusted operating expenses represent operating expenses excluding (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. Adjusted operating income/(loss) represents operating income/(loss) excluding: (i) share-based compensation expenses and (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements. Adjusted EBIT represents net income/(loss) excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, (vi) income tax (benefit)/expense, and (vii) interest income and interest expense. Adjusted net income/(loss) attributable to Zepp Health Corporation is a non-GAAP measure, which excludes (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, (v) income/(loss) from equity method investments, and (vi) tax effects of the above non-GAAP adjustments, and is used as the numerator in computation of adjusted net income/(loss) per share and per ADS attributable to Zepp Health Corporation. We believe that adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in net income/(loss) and net income/(loss) attributable to Zepp Health Corporation. We believe adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation provides useful information about our operating results, enhances the overall understanding of our past performance and future prospects and allows for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. Adjusted EBIT and adjusted net income/(loss) attributable to Zepp Health Corporation, should not be considered in isolation or construed as an alternative to net income/(loss), basic and diluted net income/(loss) per share and per ADS attributable to Zepp Health Corporation or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted EBIT and adjusted net income/(loss) attributable to ordinary shareholders, presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the cooperation with Xiaomi, the recognition of the Company's Amazfit-branded products; the Company's growth strategies; trends and competition in global wearable technology market; changes in the Company's revenues and certain cost or expense accounting policies; governmental policies relating to the Company's industry and general economic conditions in China and the global. Further information regarding these and other risks is included in the Company's filings with the United States Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. For investor and media inquiries, please contact: In China:Zepp Health CorporationGrace Yujia ZhangEmail: ir@zepp.com Piacente Financial CommunicationsTel: +86-10-6508-0677Email: zepp@tpg-ir.com Zepp Health Corporation UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted) As of December 31, As of December 31, 2023 2024 US$ US$ Assets Current assets: Cash and cash equivalents 133,669 91,069 Restricted cash 6,800 19,666 Accounts receivable, net 60,727 62,965 Amounts due from related parties 8,605 2,663 Inventories, net 84,887 56,789 Short-term investments 5,153 997 Prepaid expenses and other current assets 16,891 17,415 Total current assets 316,732 251,564 Property, plant and equipment, net 8,929 6,898 Intangible asset, net 9,868 7,091 Goodwill 9,581 9,581 Long-term investments 238,540 225,910 Deferred tax assets 32,401 17,465 Amount due from related parties, non-current 2,951 2,019 Other non-current assets 9,698 4,607 Operating lease right-of-use assets 6,819 3,458 Total assets 635,519 528,593 Zepp Health Corporation UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted) As of December 31, As of December 31, 2023 2024 US$ US$ Liabilities Current liabilities: Accounts payable 37,286 51,077 Advance from customers 233 197 Amount due to related parties 3,475 2,477 Accrued expenses and other current liabilities 44,450 37,576 Income tax payables 986 508 Notes payable 66,991 61,679 Short-term bank borrowings 1,690 41,853 Total current liabilities 155,111 195,367 Deferred tax liabilities 4,169 3,117 Long-term borrowings 120,020 75,241 Other non-current liabilities 270 133 Non-current operating lease liabilities 3,197 2,007 Total liabilities 282,767 275,865 Zepp Health Corporation UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - CONTINUED (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted) As of December 31, As of December 31, 2023 2024 US$ US$ Equity Ordinary shares 26 26 Additional paid-in capital 273,386 278,116 Treasury stock (12,874) (14,993) Accumulated retained earnings 104,351 28,618 Accumulated other comprehensive loss (14,008) (40,178) Total Zepp Health Corporation shareholders' equity 350,881 251,589 Noncontrolling interest 1,871 1,139 Total equity 352,752 252,728 Total liabilities and equity 635,519 528,593 Zepp Health Corporation UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted) For the Three Months Ended December 31, 2023 2024 US$ US$ Revenues 83,007 59,542 Cost of revenues (54,173) (37,613) Gross profit 28,834 21,929 Operating expenses: Selling and marketing (11,984) (13,251) General and administrative (5,100) (6,555) Research and development (11,124) (11,061) Total operating expenses (28,208) (30,867) Operating income/(loss) 626 (8,938) Other income and expenses: Interest income 825 771 Interest expense (1,438) (1,447) Other income/(expense), net 116 (767) (Loss)/gain from fair value change of long-term investments (709) 33 Impairment loss from investments (313) (10,129) Investment loss (44) - Loss before income tax and loss from equity method investments (937) (20,477) Income tax expenses (2,775) (13,574) Loss before income/(loss) from equity method investments (3,712) (34,051) Net income/(loss) from equity method investments 2,448 (2,850) Net loss (1,264) (36,901) Less: Net income/(loss) attributable to noncontrolling interest 15 (25) Net loss attributable to Zepp Health Corporation (1,279) (36,876) Net loss per share attributable to Zepp Health Corporation Basic loss per ordinary share (0.01) (0.14) Diluted loss per ordinary share (0.01) (0.14) Net loss per ADS (16 ordinary shares equal to 1 ADS) ADS – basic (0.08) (2.29) ADS – diluted (0.08) (2.29) Weighted average number of shares used in computing net loss per share Ordinary share – basic 241,521,944 257,216,039 Ordinary share – diluted 241,521,944 257,216,039 Zepp Health Corporation Reconciliation of GAAP and Non-GAAP Results (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted) For the Three Months Ended December 31, 2023 2024 US$ US$ Total operating expenses (28,208) (30,867) Share-based compensation expenses 1,779 951 Amortization of intangible assets resulting from acquisitions and business cooperation agreements 566 567 Total adjusted operating expenses (25,863) (29,349) Operating income/(loss) 626 (8,938) Share-based compensation expenses 1,779 951 Amortization of intangible assets resulting from acquisitions and business cooperation agreements 566 567 Adjusted operating income/(loss) 2,971 (7,420) Net loss (1,264) (36,901) Share-based compensation expenses 1,779 951 Amortization of intangible assets resulting from acquisitions and business cooperation agreements 566 567 Loss/(gain) from fair value change of long-term investments 709 (33) Impairment loss from investments 313 10,129 (Income)/loss from equity method investments (2,448) 2,850 Income tax expenses 2,775 13,574 Interest income (825) (771) Interest expense 1,438 1,447 Adjusted EBIT 3,043 (8,187) Net loss attributable to Zepp Health Corporation (1,279) (36,876) Share-based compensation expenses 1,779 951 Amortization of intangible assets resulting from acquisitions and business cooperation agreements 566 567 Loss/(gain) from fair value change of long-term investments 709 (33) Impairment loss from investments 313 10,129 (Income)/loss from equity method investments (2,448) 2,850 Tax effects on non-GAAP adjustments (91) (91) Adjusted net loss attributable to Zepp Health Corporation (451) (22,503) Adjusted net loss per share attributable to Zepp Health Corporation Adjusted basic loss per ordinary share (0.002) (0.09) Adjusted diluted loss per ordinary share[5] (0.002) (0.09) Adjusted net loss per ADS (16 ordinary shares equal to 1 ADS) ADS – basic (0.03) (1.40) ADS – diluted (0.03) (1.40) Weighted average number of shares used in computing adjusted net loss per share Ordinary share – basic 241,521,944 257,216,039 Ordinary share – diluted 241,521,944 257,216,039 Share-based compensation expenses included are follows: Selling and marketing 140 94 General and administrative 1,142 433 Research and development 497 424 Total 1,779 951 [5] Adjusted diluted net income/(loss) is the abbreviation of adjusted net (loss)/income attributable to Zepp Health Corporation, which is a non-GAAP measure and excludes (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreements, (iii) gain/(loss) from fair value change of long-term investment, (iv) impairment loss from long-term investments, and (v) income/(loss) from equity method investments, and (vi) tax effects of the above non-GAAP adjustments, and is used as the numerator in computation of adjusted basic and diluted net loss per ADS attributable to Zepp Health Corporation. Zepp Health Corporation UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted) Years Ended December 31, 2023 2024 US$ US$ Revenues 352,860 182,603 Cost of revenues (260,502) (112,369) Gross profit 92,358 70,234 Operating expenses: Selling and marketing (44,527) (46,471) General and administrative (26,778) (24,854) Research and development (51,503) (46,159) Total operating expenses (122,808) (117,484) Operating loss (30,450) (47,250) Other income and expenses: Interest income 3,089 3,672 Interest expense (6,752) (5,552) Other expense, net (525) (656) Gain from fair value change of long-term investments 213 2,011 Impairment loss from investments (313) (10,129) Investment income 109 - Loss before income tax and income/(loss) from equity method investments (34,629) (57,904) Income tax benefits/(expenses) 2,430 (13,693) Loss before income/(loss) from equity method investments (32,199) (71,597) Net income/(loss) from equity method investments 1,113 (4,211) Net loss (31,086) (75,808) Less: Net loss attributable to noncontrolling interest (66) (75) Net loss attributable to Zepp Health Corporation (31,020) (75,733) Net loss per share attributable to Zepp Health Corporation Basic loss per ordinary share (0.13) (0.29) Diluted loss per ordinary share (0.13) (0.29) Net loss per ADS (16 ordinary shares equal to 1 ADS) ADS – basic (2.04) (4.68) ADS – diluted (2.04) (4.68) Weighted average number of shares used in computing net loss per share Ordinary share – basic 243,135,964 258,876,120 Ordinary share – diluted 243,135,964 258,876,120 Zepp Health Corporation Reconciliation of GAAP and Non-GAAP Results (Amounts in thousands of U.S. dollars ("US$") except for number of shares and per share data, or otherwise noted) Years Ended December 31, 2023 2024 US$ US$ Total operating expenses (122,808) (117,484) Share-based compensation expenses 8,792 4,778 Amortization of intangible assets resulting from acquisitions and business cooperation agreements 2,285 2,267 Total adjusted operating expenses (111,731) (110,439) Operating loss (30,450) (47,250) Share-based compensation expenses 8,792 4,778 Amortization of intangible assets resulting from acquisitions and business cooperation agreements 2,285 2,267 Adjusted operating loss (19,373) (40,205) Net loss (31,086) (75,808) Share-based compensation expenses 8,792 4,778 Amortization of intangible assets resulting from acquisitions and business cooperation agreements 2,285 2,267 Gain from fair value change of long-term investments (213) (2,011) Impairment loss from investments 313 10,129 (Income)/loss from equity method investments (1,113) 4,211 Income tax (benefits)/expenses (2,430) 13,693 Interest income (3,089) (3,672) Interest expense 6,752 5,552 Adjusted EBIT (19,789) (40,861) Net loss attributable to Zepp Health Corporation (31,020) (75,733) Share-based compensation expenses 8,792 4,778 Amortization of intangible assets resulting from acquisitions and business cooperation agreements 2,285 2,267 Gain from fair value change of long-term investments (213) (2,011) Impairment loss from investments 313 10,129 (Income)/loss from equity method investments (1,113) 4,211 Tax effects on non-GAAP adjustments (368) (365) Adjusted net loss attributable to Zepp Health Corporation (21,324) (56,724) Adjusted net loss per share attributable to Zepp Health Corporation Adjusted basic loss per ordinary share (0.09) (0.22) Adjusted diluted loss per ordinary share (0.09) (0.22) Adjusted net loss per ADS (16 ordinary shares equal to 1 ADS) ADS – basic (1.40) (3.51) ADS – diluted (1.40) (3.51) Weighted average number of shares used in computing adjusted net loss per share Ordinary share – basic 243,135,964 258,876,120 Ordinary share – diluted 243,135,964 258,876,120 Share-based compensation expenses included are follows: Selling and marketing 637 462 General and administrative 4,296 2,245 Research and development 3,859 2,071 Total 8,792 4,778
The Annual General Meeting of AB Electrolux was held in Stockholm on March 26, 2025. STOCKHOLM, March 27, 2025 /PRNewswire/ -- Shareholders and others had the opportunity to follow the Annual General Meeting live via Electrolux Group's website. A recording from the Annual General Meeting of the reflections by President and CEO, Yannick Fierling, on the past year, and the strategy going forward will be available on Electrolux Group's website, www.electroluxgroup.com/agm2025. The Company's Income Statement and Balance Sheet and the Consolidated Income Statement and Balance Sheet for Electrolux Group were adopted. The Board of Directors and the President and CEO were discharged from liability for the financial year 2024. In accordance with the Board's proposal, the Annual General Meeting resolved to not distribute any dividend for the financial year 2024 and that available funds will be carried forward in the new accounts. The Annual General Meeting adopted remuneration to the Board in accordance with the Nomination Committee's proposal. Geert Follens, Petra Hedengran, Ulla Litzén, Torbjörn Lööf, Daniel Nodhäll, Karin Overbeck, David Porter and Michael Rauterkus were re-elected as Directors of the Board, and Yannick Fierling was elected as new Director of the Board, for the period until the end of the Annual General Meeting 2026. Torbjörn Lööf was re-elected as Chair of the Board of Directors. Öhrlings PricewaterhouseCoopers AB was elected as auditor for the period until the end of the Annual General Meeting 2026 and fee to the auditor will be paid as incurred. The Board of Director's Remuneration Report for the financial year 2024 was approved. The Annual General Meeting authorized the Board of Directors to resolve on transfers of own shares of series B in connection with or as a consequence of company acquisitions and for the purpose of covering costs related to social security charges, that may arise as a result of the company's obligations under the previously adopted share program for 2023. These authorizations are effective during the period until the Annual General Meeting 2026. The Board's proposal for a performance based long-term share program for 2025 was approved. Furthermore, the Annual General Meeting resolved that the company's expected financial exposure of the program shall be hedged by the company entering into an equity swap agreement with a third party. Full details on the proposals adopted by the Annual General Meeting are available at Electrolux Group's website, www.electroluxgroup.com/agm2025. CONTACT: For further information, please contact Electrolux Press Hotline, +46 8 657 65 07. This information was brought to you by Cision http://news.cision.com https://news.cision.com/electrolux-group/r/bulletin-from-the-annual-general-meeting-of-ab-electrolux,c4123909 The following files are available for download: https://mb.cision.com/Main/1853/4123909/3348139.pdf 250326 Bulletin AB Electrolux AGM 2025
TAIPEI, March 26, 2025 /PRNewswire/ -- The world's leading computer brand, GIGABYTE, is bringing its high-performance pre-built gaming PC, AORUS SUPREME 5, to the North American market. Designed for gamers and power users seeking seamless performance without the complexity of building a PC, this pre-built system combines preinstalled Windows 11, cutting-edge high-end hardware of an AMD Ryzen™ 7 9800X3D processor, an X870E AORUS PRO motherboard and up to NVIDIA RTX 5090 graphics cards. The system also leverages optimized cooling and user-friendly features for an unparalleled gaming experience. Additionally, users can adjust hardware settings, fine-tune performance, and synchronize RGB lighting with other GIGABYTE hardware through the GIGABYTE Control Center. GIGABYTE Announces AORUS SUPREME 5 High-End Pre-Built Gaming PC Now Available in North America Designed with users' needs in mind, the EZ designs on AORUS SUPREME 5 include tool-free accessibility side-opening glass panel access to the interior for quick maintenance and standard-sized components for hassle-free compatibility and scalability. The built-in easy-to-clean magnetic dust filter maintains efficient airflow for long-term system stability. Combined with a comprehensive set of I/O ports, including one USB 3.1 Gen 2 Type-C, four USB 3.0 ports, and audio jacks on the top-front panel, while four USB 3.2 Gen 1 and three USB 3.2 Gen 2 ports at the backside for diverse connectivity. Equipped with an AMD Ryzen™ 7 9800X3D processor and an X870E AORUS PRO motherboard, GIGABYTE applied X3D Turbo mode to optimize core distribution, bandwidth tuning, and power balancing to boost performance by up to 18% on AORUS SUPREME 5. Meanwhile, the revolutionary AI suite, D5 Bionics Corsa, integrates software, hardware, and firmware to boost DDR5 memory performance and reduce load times. The system can be configured with up to an RTX™ 5090 graphics card, featuring NVIDIA DLSS 4 technology for stunning visuals and ultra-smooth gameplay. Alongside its powerful performance, the AORUS SUPREME 5 is equipped with an all-around cooling solution, featuring AORUS WATERFORCE II 360 all-in-one liquid cooler for CPU heat dissipation, signature WINDFORCE cooling system with newly designed Hawk Fan, and server-grade thermal conductive gel to ensure stable performance during heavy load tasks. While the quad-fan configuration boasts superior cooling efficiency and optimized airflow in the chassis. GIGABYTE also introduces AORUS SUPREME 5 ICE, a sleek variant designed for white PC build seekers, set to be on the market at the end of March. For more details, visit the official product page, and check Newegg for purchasing availability.
Where "Bring the Good Times Home" Meets "Feel Good, Live Outdoors". NEW ORLEANS, March 26, 2025 /PRNewswire/ -- Sylvox, a global leader in Outdoor TV technology, is set to make a strong impression at HPBExpo 2025, the premier trade show for the hearth, patio, and barbecue industries. Taking place March 27–29 at the Ernest N. Morial Convention Center, the event aligns perfectly with Sylvox's mission to "Feel Good, Live Outdoors," and HPBExpo's theme of "Bring the Good Times Home." At the exhibition, Sylvox will showcase its highly anticipated Cinema Series and Gaming Series Outdoor TVs, as well as its Kitchen TV, Bathroom TV, and Portable TV lines. Unlike traditional indoor-focused TV brands, Sylvox is engineered specifically for the outdoors, offering a complete range of durable, weatherproof entertainment solutions. HPBExpo 2025 provides the ideal platform for Sylvox to demonstrate these innovations in action. Attendees will have the opportunity to experience firsthand the durability, brightness, smart features, and outdoor-specific engineering that set Sylvox apart in the Outdoor TV category. Enjoy the great outdoors with Sylvox's weatherproof Outdoor TV. Spotlight on Featured Outdoor TVs at HPBExpo 2025: Cinema Series Outdoor TV- "Cinema Under the Open Skies" The Sylvox Cinema Series transforms outdoor spaces into theaters with revolutionary Helio QLED technology. Featuring up to 5000-nit brightness and theater-grade features, it delivers immersive movie nights under the stars, vibrant sports viewing in bright daylight, and stunning entertainment for outdoor gatherings year-round. Engineered for all-weather durability with IP55 protection, this series brings theater-quality experiences to your backyard, with prices starting at $2799. The flagship Cinema Pro 110 includes comprehensive care coverage with professional installation, priority support, and exclusive member benefits. Gaming Series Outdoor TV- "Games and Sports in the Great Outdoors". A fusion of professional gaming performance and weatherproof durability, optimized for outdoor enthusiasts, Sylvox introduces the Gaming Series, delivering ultra-low latency (<8ms) and a 120Hz refresh rate for seamless performance. Paired with weatherproof IP55-rated durability, this series offers the ultimate outdoor gaming and sports-viewing experience in the backyard, patio, or poolside, starting at $1999. "At Sylvox, we believe outdoor living should be as seamless and high-quality as indoor experiences," said Tracy Lee, Co-Founder & CMO at Sylvox. "After our impactful debut at CES, HPBExpo 2025 is a key milestone in our journey to bring Sylvox innovations into the heart of outdoor living culture." Visit Sylvox at Ernest N. Morial Convention Center, Halls D-E-F, Booth #2007 to see the latest advancements in outdoor entertainment and experience firsthand how Sylvox is shaping the future of Outdoor TV technology. About Sylvox Founded in 2009 by Golden Young, Sylvox is dedicated to inspiring well-being and connection through cutting-edge outdoor technology. With a presence in over 100 countries, we've grown into a trusted global brand offering state-of-the-art weatherproof outdoor TVs that transform outdoor spaces into immersive entertainment hubs. Partnering with leading retailers worldwide, Sylvox combines innovation, durability, and sustainability to create premium outdoor entertainment solutions accessible to all. Guided by Accessibility, Well-being, Innovation, and Sustainability, they're not just a TV brand—they're redefining how technology connects people with the outdoors. Feel Good, Live Outdoors. For Business or Media Inquiries, Contact:marketing@sylvoxtv.com
SYDNEY, March 26, 2025 /PRNewswire/ -- Roborock, a global leader in ultra-intelligent home robotics, is bringing its latest lineup of advanced cleaning solutions to the Australian market. Showcased at its recent launch event in Sydney, the Saros Series, F25 Series, and Qrevo EdgeC are set to revolutionise home cleaning with next-generation automation, powerful suction, and innovative design. event photo Roborock turned up the volume to mark its biggest Australian launch yet. Themed 'Rocking a New Era' with a performance by multi ARIA award-winning Australian musician, the event immersed guests in the next generation of smart cleaning, with interactive demo zones spotlighting the standout features of the Saros Series, Qrevo EdgeC, and F25 Series. From robotic arms that clear your socks, to vacuums that mop and self-dry, attendees got hands-on with the future of home cleaning. This announcement follows Roborock's continued global dominance, with the brand ranking #1 in global sales volume and turnover among Robotic Vacuum Cleaner (RVC) brands in IDC's 2024 Q4 Worldwide Smart Home Device Tracker. Roborock holds 22.3% of the global RVC market share, reflecting an impressive 20.7% year-over-year increase in unit shipments. "This is a milestone year for Roborock in Australia," said Richard Chang, Founder & CEO of Roborock. "As a global leader in smart home cleaning, we are doubling down on our commitment to delivering cutting-edge innovation tailored to Australian consumers. With the launch of the Saros Series, we're introducing game-changing features like the OmniGrip robotic arm and RetractSense™ navigation system, setting new standards for intelligent cleaning. Alongside the powerful F25 Series and our advanced mid-range lineup, we're proud to bring these innovations to Australia, ensuring every home can experience the power of truly intelligent cleaning." Introducing the Saros Series: Intelligent Precision Meets Power The Roborock Saros Series redefines premium robotic cleaning with state-of-the-art AI-driven navigation, industry-leading suction power, and next-gen mopping technology. Roborock Saros 10 (RRP: $2,999 AUD) – Roborock's slimmest and smartest robotic vacuum yet, the Saros 10 features the first-ever RetractSense™ Navigation System, which enhances traditional LDS navigation by allowing the module to retract inwards when passing under low-clearance furniture while maintaining a 100-degree wide field of view**. At just 7.98 cm tall, this flagship model integrates Roborock's most advanced cleaning technologies, including VibraRise® 4.0 mopping, AdaptiLift™ Chassis, Reactive AI 3.0 obstacle recognition, and a powerful 22,000Pa HyperForce® suction system. Roborock Saros 10R (RRP: $2,899 AUD) – Taking robotic vacuum intelligence to the next level, the Saros 10R is equipped with StarSight™ Autonomous System 2.0, a cutting-edge AI navigation system. Instead of relying on a traditional Laser Distance Sensor (LDS) tower, it integrates dual-light 3D Time-of-Flight (ToF) technology and an RGB camera, delivering an ultra-precise 3D environmental map and real-time obstacle detection. Roborock Saros Z70 (RRP: $3,999 AUD) – The most feature-rich robotic vacuum cleaner in the series, the Saros Z70 introduces OmniGrip – the first-of-its-kind mass-produced* foldable robotic arm with five-axis movement. This innovative feature allows the vacuum to clean previously obstructed areas and handle small items such as socks, small towels, tissue paper, and sandals under 300g**. Roborock Qrevo EdgeC: Precision-Driven Performance Built for homes requiring edge-to-edge cleaning, the Qrevo EdgeC (RRP: $2,199 AUD) is designed with advanced edge-cleaning technology, powerful 18,500Pa suction, dual anti-tangle brush system, and optimised navigation to tackle every corner effortlessly. Roborock F25 Series: Smart, Versatile Cordless Cleaning Packed with smart and powerful features, the Roborock F25 Series allows users to spend less time cleaning and more time living. Roborock F25 (RRP: $699 AUD) – Designed for effortless cleaning, the F25 delivers one-stroke wet and dry cleaning with 20,000Pa suction power and 450 cleaning strokes per minute, ensuring a spotless finish with minimal effort. Roborock F25 Ace (RRP: $999 AUD) – Taking cleaning a step further, the F25 ACE includes an automatic detergent dispenser, intelligently adjusting the cleaning solution for different surfaces based on real-time dirt detection. SlideTech 2.0 motorised wheels offer smooth maneuverability, even in tight spaces, while dual brushless motors provide effortless control. Like the F25, it features JawScrapers technology for a tangle-free clean, along with smart self-cleaning, hot air drying, and voice alerts for real-time updates. Roborock is also launching four additional robotic vacuums in Australia, ensuring smart cleaning solutions at every price point: Expanding the Entry-Range Lineup Roborock Q10V+ (RRP: $1,299 AUD) – Designed for powerful performance, the Q10V+ delivers 10,000Pa HyperForce® suction, a Dual Anti-Tangle system, and Reactive Tech Obstacle Avoidance, ensuring uninterrupted cleaning. The VibraRise® 2.0 mopping system and self-emptying dock provide a hands-free, all-in-one cleaning solution. Roborock Q7T+ (RRP: $799 AUD) – Equipped with 8,000Pa HyperForce® suction, this model tackles dust and debris with ease across all surfaces. The Dual Anti-Tangle system keeps hair from clogging the brushes – so you don't have to. It pairs seamlessly with a Self-Emptying Dock for truly hands-free cleaning. Strengthening the Mid-Range Offering Roborock Qrevo C (RRP: $1,699 AUD) – Elevating mid-range cleaning, Qrevo C features 12,000Pa HyperForce® suction, Reactive Tech Obstacle Avoidance, and a Dual Anti-Tangle system to prevent hair buildup. The 200 RPM Dual-Spinning Mop ensures deep stain removal, while the Maintenance Dock with Heated Drying keeps the device hygienic and ready for use. Roborock Qrevo L (RRP: $1,499 AUD) – With 10,000Pa HyperForce® suction, an Anti-Tangle Side Brush, and Reactive Tech Obstacle Avoidance, the Qrevo L takes on dirt, hair, and everyday obstacles with ease. Its 200 RPM Dual-Spinning Mop delivers a deep, streak-free clean—while the Maintenance Dock handles the dirty work, cleaning and drying the mop for you. A Legacy of Innovation and Leadership Roborock's global leadership is reinforced by its commitment to cutting-edge R&D and premium automation technology. The brand continues to dominate international markets, taking a leading position in United States and China, also ranking as the #1 selling RVC brand in volume across major regions, including Denmark, Finland, Germany, Norway, South Korea, Switzerland, and Turkey according to IDC's 2024 Q4 Worldwide Smart Home Device Tracker. Pricing and Availability in Australia The Roborock Saros 10, Saros Z70, Qrevo EdgeC, and F25 Series is now available to purchase on Roborock Australia's official retail channels, such as Roborock's Official Online Store and other Participating Authorised Retailers. The Roborock Qrevo C, Qrevo L, Q10V+, Q7T+ will be available starting from April 2025. The Roborock Saros 10R will be available starting from May 2025. About Roborock Roborock is a leading smart cleaning brand renowned for its intelligent cleaning solutions. With a steadfast dedication to becoming a global leading smart appliance player, Roborock enriches lives with its innovative line of robotic, cordless, wet/dry vacuum cleaners, and washer-dryers. Rooted in a user-centric approach, our R&D-driven solutions cater to diverse cleaning needs in over 15 million homes across 170+ countries. Headquartered in Beijing and with strategic subsidiaries in key markets, including the United States, Japan, the Netherlands, Poland, Germany, and South Korea, Roborock is dedicated to elevating its market presence worldwide. For more information, visit https://au.roborock.com/. *Roborock was the first in the robotic vacuum industry to mass-produce this technology, launching it in January 2025. **Based on internal testing carried out by the manufacturer. Actual results may vary due to environmental factors and software updates.
Consumer Electronics
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