营收超6亿元，接近盈亏平衡，卧安机器人的海外生意经

Core Viewpoint - If Woan Robotics successfully lists in Hong Kong, it will become the world's first stock for AI embodied home robots, holding a leading market share of 11.9% in the AI embodied home robot system sector according to Frost & Sullivan [2] Group 1: Company Overview - Woan Robotics was founded in 2015 by two alumni from Harbin Institute of Technology and has submitted its listing application to the Hong Kong Stock Exchange ten years later [2] - The company has generated revenues of 275 million yuan, 457 million yuan, and 610 million yuan from 2022 to 2024, approaching breakeven in 2024 with an adjusted net loss rate of 0.5% [2] - The company’s revenue is primarily derived from AI embodied home robot system products and other smart home products and services, with the former including dexterous robots and enhanced mobile robots [2] Group 2: Product and Market - Woan Robotics has a product matrix covering seven categories with a total of 42 standard product units (SPUs), including various types of service robots sold in over 90 countries and regions [3] - From 2022 to 2024, the Japanese, European, and North American markets contributed 95.5%, 95.6%, and 95% of the company's total revenue, with Japan being the largest market [3] - The sales and distribution network includes direct-to-consumer (DTC) channels, retail channels, and distribution channels, with significant sales through major e-commerce platforms like Amazon [3] Group 3: Financial Performance - The net losses for Woan Robotics from 2022 to 2024 were 86.934 million yuan, 16.287 million yuan, and 2.674 million yuan, primarily due to R&D and sales expenses [5] - The adjusted EBITDA was negative in 2022 but turned positive in 2023 and 2024, with figures of 5.814 million yuan and 26.081 million yuan respectively [5]