2022年1月17日

Stone Technology: revenue of 3.827 billion yuan in the first three quarters, r&d investment increased by 80%

Stone Technology (688169.SH) released its third-quarter 2021 report after the close on October 29. In the first three quarters of 2021, the company achieved operating revenue of 3.827 billion yuan, with a year-on-year growth of 28.43%, and net profit attributable to shareholders of listed companies of 1.016 billion yuan. In the third quarter, the company achieved operating revenue of 1.479 billion yuan, up 22.88% year on year, and net profit attributable to shareholders of listed companies was 364 million yuan.

By the end of the report, the company has total assets of 9.407 billion yuan, compared with 7.848 billion yuan at the end of the previous year, an increase of 19.87%.

During the reporting period, the company continued to increase marketing and brand promotion efforts, taking full advantage of the latest trends in social marketing activities and enhancing brand reputation with high-quality products. During this period, the company released brand TVC and advertising on weibo, Douyin, Xiaohongshu and other platforms around the spokesmen. Large areas of offline core city landmarks and airports were also revealed, further expanding the brand awareness of the product.

At the same time, the company through continuous research and development investment to enhance product research and development capabilities, promote innovative products continue to be listed, strengthen their leading position in the intelligent sweeping robot product market. Financial disclosure, in the first three quarters of 2021, Stone technology research and development of a total investment of 311 million yuan, accounting for 8.13% of the operating revenue, an increase of 80.07% over the same period last year. In the third quarter alone, the r&d investment reached 112 million yuan, up 65.10% year-on-year. The reason for the significant year-on-year increase is mainly caused by the company’s increased r&d investment in new products, the corresponding increase in r&d personnel costs, and the increase in share payment expenses in the current period.

Driven by the progress of research and development, in August, the company launched a new self-cleaning sweeper G10 to realize the self-cleaning of the base station with automatic water refill from the water tank and the new floor sweeper U10 uses double brush to clean more efficiently and solve the water mark, which is a first in the industry. The introduction of the new self-cleaning product fills a gap in Stone’s existing product line, while using the feedback and suggestions generated by users using the robots, the company can pinpoint new features to be introduced into future products.

During the reporting period, the company’s commercial robot products have completed small batch trial production, and have been tested in a number of cooperative customers, and have been recognized by customers. The products will be mainly used in shopping malls, large supermarkets, office buildings and other public places. At the same time, the company independently developed the background management system of commercial cleaning robot and stone commercial mobile phone APP, which can realize the user’s information query and data statistics of the whole operation process of cleaning robot, and help enterprise users to promote the management optimization of service personnel, and achieve cost reduction and efficiency increase. In October 2021, the company’s commercial cleaning robot was officially “deployed” in the water Cube to provide intelligent cleaning services for Olympic venues.

On the other hand, the company continues to focus on the basic technology of intelligent sweeping robot research and expand the scale of research and development talents, in order to strengthen their own technical advantages and core competitiveness, to achieve the long-term goal of “global high-end intelligent hardware manufacturers”.

By 21H1, the number of r&d personnel of the company has reached 464, accounting for 58.64%. At the same time, the company in Beijing, Shanghai, Shenzhen and other places with product RESEARCH and development centers, photoelectric research institute, AI artificial intelligence research institute, mechanical and electrical research institute and other high-end RESEARCH and development bases, to create a good research and development atmosphere for researchers.

Chang Jing, chairman and CEO of Stone Technology, said that in the future, the company will continue the advantages of product research and development ability, brand influence and network marketing, and adhere to the implementation of the mission of simplifying life with science and technology, with new technology and new achievements for users and the development of the industry.

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