Huaxi: The strong prosperity of the clean appliances sector continued in March, with domestic companies' overseas brand momentum continuing to rise.

Huaxi released a research report stating that as a growing product category, clean appliances are expected to continue to thrive in the domestic market under the stimulus of national subsidies. New products such as the sweeping robot with mechanical arm introduced by Stone and Zhiqumiai have enabled the sweeping robot to move from two-dimensional cleaning to three-dimensional space management. This opens up further imagination space for the evolution of sweeping robot forms and improves market penetration. The momentum of domestic sweeping robot brands in overseas markets continues to rise, and it is optimistic about domestic brands seizing market share overseas. It is recommended to pay attention to the leading company Siasun Robot&Automation in the sweeping robot industry. Huaxi's main points are as follows: Sweeping Robot: Continuing to rise in volume and price under the stimulus of national subsidies, Stone and Zhiqumiai have increased their market share Under the stimulus of national subsidies, the trend of high growth continues, with significant growth in both online and offline channels. In March 2025, online sales of sweeping robots reached 1.1 billion yuan, a year-on-year increase of 48%, with online sales volume of 320,000 units, a year-on-year increase of 46%; In the first quarter overall, the total online sales of sweeping robots reached 3 billion yuan, up by 63% year-on-year, with a total online sales volume of 910,000 units, up by 53% year-on-year. Looking at price segments, the 3k-4k range is the most mainstream price point, with consumers pursuing value for money. High-end demand above 5k shows strong resilience, while low-end prices below 2500 continue to shrink. Ecovacs Robotics maintains the lead in market share, with Stone, Zhiqumiai, and Xiaomi increasing their market share. Floor Cleaning Machines: Continued high prosperity, average price growth recovery A duopoly monopoly pattern, with Stone capturing CR2 market share. According to data from AVC Cloud Network, in March 2025, online sales of floor cleaning machines reached 760 million yuan, up by 55% year-on-year, with online sales volume of 370,000 units, up by 53% year-on-year. In the first quarter overall, total online sales of floor cleaning machines reached 2.3 billion yuan, up by 41% year-on-year, with a total online sales volume of 1.14 million units, up by 48% year-on-year. The price decline of floor cleaning machines over the past 25 years has been narrowing month by month, and in March, the average online price of floor cleaning machines turned positive year-on-year, while the average offline price continued to grow positively in February. Tineco remains the leader, with Stone's market share significantly increasing. The increase in Stone's market share is mainly driven by the A30 PRO, which features ultra-thin lying flat, 20,000Pa top suction power, AI omnidirectional assistance, and a price of 2399 yuan (excluding national subsidies), making it a higher configuration at the same price point. Risk Warning Risks include lower-than-expected demand, risks related to overseas tariffs and exchange rates, and significant increases in raw material prices.