ECOVACS(SH:603486) Sou Hu Cai Jing·2025-08-20 12:07Core Viewpoint - The 2024 sustainability report of Ecovacs Robotics highlights significant investments in R&D and improvements in ESG performance, while also addressing challenges related to information security and customer service [2][4]. Group 1: ESG Performance - Ecovacs has achieved comprehensive ESG assessment coverage for its suppliers, with 320 suppliers for service robots and 366 for TINECO, ensuring sustainability in the supply chain [5][6]. - The company has established a full lifecycle management system for suppliers, with 100% of new suppliers evaluated based on ESG criteria, promoting local supplier partnerships to reduce logistics costs and emissions [5][6]. - However, there has been a notable increase in environmental indicators, such as greenhouse gas emissions, which rose to 51,144.84 tons CO₂e in 2024 from 27,315.71 tons in 2023, primarily due to the operations of a new subsidiary [7]. Group 2: Innovation and Employee Rights - In 2024, Ecovacs invested 885 million yuan in R&D, accounting for 5.35% of its revenue, and employed 1,667 R&D personnel, focusing on product innovation and service quality [9]. - The company has achieved a 100% signing rate for labor contracts and social insurance coverage for its employees, implementing a comprehensive compensation management system [9][10]. - Despite these advancements, the company faced criticism regarding information security, with a reported vulnerability in the Deebot X2 vacuum robot that allowed unauthorized access to user data [10][11].