Xin Lang Cai Jing·2025-12-15 15:29Core Viewpoint - iRobot Corp, the pioneer of robotic vacuum cleaners, has filed for bankruptcy protection, leading to a significant drop in its stock price by over 70%, triggering a trading halt, with a total market value reduced to approximately 300 million RMB [1][8]. Company Overview - iRobot was founded in 1990 by three MIT robotics experts and gained popularity with the launch of the Roomba vacuum cleaner in 2002, which holds a market share of about 42% in the U.S. and 65% in Japan [6][13]. - The company currently has 274 employees and is headquartered in Bedford, Massachusetts [14]. Financial Situation - iRobot's total revenue for 2024 is projected to be around 682 million USD, but profits are significantly pressured by competition, particularly from Chinese rivals like Ecovacs [4][11]. - The company has approximately 190 million USD in debt, primarily from a loan taken in 2023 for refinancing operations [4][11]. Bankruptcy Details - iRobot has applied for Chapter 11 bankruptcy protection in Delaware, citing pressures from low-cost competitors and the impact of new U.S. tariffs, particularly a 46% tariff on products imported from Vietnam [4][11]. - The bankruptcy restructuring plan involves Shenzhen Picea Robotics acquiring 100% of iRobot's shares and canceling the remaining 190 million USD debt from 2023, along with an additional 74 million USD owed under a contract [5][12]. Market Impact - The stock price of iRobot fell to 1.38 USD, a decrease of 68.06%, with a trading volume of approximately 49.6 million shares [3][10]. - The company's valuation peaked at 3.56 billion USD during the pandemic in 2021, highlighting a significant decline in market position [5][12].