[Switchbot Parent Company] Voi'an Robotics' Adjusted Profit Surged Over 10 Times Last Year to 12.77 Million RMB; No Dividend Distribution; Switchbot App Added Over 800,000 New Users

SocialAnxietyStaker · 2026-03-24T15:18:04+00:00

Woan Robotics (06600) achieved an adjusted profit of HKD 12.766 million last year, a 10.53-fold increase year-on-year, but recorded a net loss of HKD 27.263 million due to listing costs. The company's revenue increased by 47.7% to HKD 900 million, with gross profit margin rising to 54%. The European market experienced significant growth at 57.9%, with Germany reaching 108.9%. As of the end of 2025, the Switchbot App had 3.6 million registered users.

SocialAnxietyStaker

2026-03-24 15:18:04

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Semi-new stocks, smart home device SwitchBot parent company Woan Robotics (06600)
Last year, adjusted profit was 12.766 million yuan (RMB), a year-on-year increase of 10.53 times.
Including listing and share-based payment expenses, recorded a loss of 27.263 million yuan, an increase of 787% year-on-year. Woan Robotics does not pay a final dividend.

Woan Robotics mainly sells products under the SwitchBot brand, such as smart locks, smart curtains, and switch devices.
Revenue increased by 47.7% to 900 million yuan last year; gross profit margin reached 54%, up 2.3 percentage points from 51.7% in 2024.

European market revenue grew by 57.9%

The company states that revenue from Japan, Europe, and North America accounts for over 95%, with Europe growing 57.9% year-on-year, and the German market achieving a 108.9% increase; Japan and North America also recorded growth of 54.9% and 21.7%, respectively.

As of December 31, 2025, SwitchBot App has over 3.6 million registered users, with more than 800,000 new registrations this year.

Source: HKEX Announcement

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