Industry status
Stone sweeper Siasun Robot&Automation Co.Ltd(300024) S7 is listed in the “100 best inventions of 2021” 1 published by time, the mainstream media in the United States. The list selects 100 breakthrough inventions committed to changing the world in 2021.
Commentary
Stone sweeper Siasun Robot&Automation Co.Ltd(300024) S7 was listed in the “2021 best invention list” of time magazine and was specially mentioned. Time magazine (time) is one of the three major current affairs weekly in the United States. The content of the “list of best inventions in 2021” is divided into 27 fields, including artificial intelligence, entertainment, medical treatment and so on. The listed products have outstanding performance in the key selection criteria – originality, creativity, efficacy, development potential and influence. Stone sweeper Siasun Robot&Automation Co.Ltd(300024) S7 is not only on the list of best inventions, but also gets special mention. The scientific and technological products on the list also include Lenovo thinkreality a3smart glasses, cerebras CS-2 AI system, etc.
Stone realizes the breakthrough of American brand with product strength. (1) At present, iRobot in the North American market still has obvious advantages in market share. Shark in the U.S. market ranks second relying on China’s supply chain and its share continues to improve.
Stone, Ecovacs Robotics Co.Ltd(603486) and Enke’s eufy also have obvious influence in Amazon channel. (2) Stone products are generally superior to other brands on Amazon in North America, indicating that its product power is leading. Stone sweeper Siasun Robot&Automation Co.Ltd(300024) S7, which was selected in the list of best inventions by time magazine this time, was selected for its strong intelligent planning ability and automatic carpet recognition when mopping.
Stone adheres to its own product line and takes the lead in product performance. (1) Stone’s laser navigation algorithm has been leading the market for a long time. In terms of mopping and self-cleaning, stone also adheres to a different technical route.
(2) the floor sweepers on the market generally imitate Yunjing and adopt rotating tractors. In January 2022, the S7 maxv ultra launched by stone at the American CES exhibition is an upgraded version of roborocks7 and G10. As a floor mop, the base station is equipped with automatic dust collection + automatic cleaning mop function, which is in line with the Ecovacs Robotics Co.Ltd(603486) X1 all-round version. However, the vibration of the mop can be switched to the sweeping mode after recognizing the carpet, but the rotating mop cannot be realized. We expect that S7 maxv ultra is expected to be listed in 2q2022 in the United States.
China’s innovation is exported to Europe and America, and brand going to sea has become a trend. Since 2017, Chinese enterprises have led the global innovation of clean appliances. At present, iRobot and Dyson continue to lag behind the Chinese market in the innovation of clean appliances, and the global share of Chinese brands is rapidly increasing.
Valuation and recommendations
We are optimistic about home appliance leaders actively distributing emerging channels, including Midea Group Co.Ltd(000333) , Haier Smart Home Co.Ltd(600690) , Guangdong Xinbao Electrical Appliances Holdings Co.Ltd(002705) . In addition, we are optimistic about Hangzhou Robam Appliances Co.Ltd(002508) brought about by the marginal improvement of policies, the fast-growing emerging categories Beijing Roborock Technology Co.Ltd(688169) , Chengdu Xgimi Technology Co.Ltd(688696) , and the cross-border recommendation of Skyworth Group H and Kingclean Electric Co.Ltd(603355) .
Risk
Industry competition intensifies; The product penetration rate was lower than expected, and the shipping cost remained high.
