Ecovacs 2026 H1 Revenue Up 19.18% to RMB 10.34 Billion, Net Profit Up 27.4%, Overseas Share Hits 49%

Ecovacs Robotics Co. , Ltd. disclosed its 2026 semi-annual report on August 21. During the reporting period, the company achieved operating revenue of RMB 10.341 billion, up 19.18% year on year, and net profit attributable to shareholders of RMB 1.248 billion, up 27.40%. Overseas revenue accounted for 49.0% of total revenue, up 8.2 percentage points year on year, and in the second quarter alone overseas revenue share exceeded 50% for the first time, reaching 51.0%. Overseas business surpassed domestic business for the first time in a half-year period.

By brand, Ecovacs brand overseas revenue grew 46.5% year on year, while Tineco brand overseas revenue rose 40.6%, with both brands contributing nearly equally to overseas revenue. The company has expanded upstream into smart component clusters including motors, batteries, and transmission systems, achieving an industrial loop from key components to finished products. Wholly owned subsidiary Kaihang Motor self-develops and produces brushless and series-wound motors, fans, hub motors, and drive components. Controlling subsidiary Taiding New Energy is investing in a 2 GWh polymer lithium-ion battery project, with the 1 GWh production line in Workshop A already commissioned and 0.3 GWh of line equipment installed in Workshop B. Qingding Intelligence focuses on precision transmission and has expanded into harmonic reducer gearboxes, standard modules for dexterous robot hands, and other components. At Zhejiang Nanxun's Lingding Intelligent Factory, one window-cleaning robot rolls off the line every 6 seconds on average, with daily capacity exceeding 6,000 units, over 50% of which are sold overseas.

Despite rising raw material prices, the company's gross margin stood at 48.5%. Net profit attributable to shareholders grew faster than revenue, mainly thanks to cost buffers from a self-controlled supply chain. R&D expenditure reached RMB 554 million, up 9.14% year on year. The company has built a "carbon-silicon integrated" organizational capability combining AI algorithms with mechanical hardware to enable cross-category technology reuse. Among new categories, window-cleaning robots have seen overseas sales double for three consecutive years, and the company ranked first globally in window-cleaning robot shipments according to IDC data. Lawn-mowing robots developed steadily, and pool-cleaning robots were launched during the reporting period. Overseas revenue from new categories grew 75.1% year on year.

In overseas markets, beyond consolidating core markets in Europe, the Americas, and Asia-Pacific, the company drove volume growth in emerging markets such as Turkey and the CIS. Tineco maintained growth in the United States, with Europe and Asia-Pacific becoming new growth drivers. Through an organizational model of "headquarters empowerment and regional combat," the company has set up local subsidiaries in core markets and refined its channel networks. The company also launched its first open-source embodied robot, "Bajie," and an open-source entity community.