28 May, 2018 – ECOVACS ROBOTICS (“ECOVACS”; Stock Code: 603486) today launched its Initial Public Offering of 40.1 million shares on the Shanghai Stock Exchange, which accounts for 10% of its total post-IPO equity.
ECOVACS Group, which was founded in 1998 by Chinese entrepreneur Qian Dongqi, expanded its operations in 2006 with the founding of ECOVACS ROBOTICS, which designs smart cleaning robots that help consumers “live smart, enjoy life”. In less than 20 years, ECOVACS has expanded globally to provide intelligent robotic solutions to consumers in more than 40 markets around the world, with a comprehensive range of patented technology-smart cleaning robots, including: floor-cleaning robots, window-cleaning robots, air-purifier robots and other multi-purpose robots.
Proceeds from the IPO will be used to support ECOVACS’ plans to build 4,000,000 robots and an Internet ecosystem for robots, as well as global sales and marketing operations. Upon completion of these projects, ECOVACS plans to further improve the efficiency of its large-scale production, enhance the level of intelligence of its products, and increase its market share in overseas markets.
About ECOVACS ROBOTICS
Innovating Since Day One - Creating the Intelligent Home.
At ECOVACS ROBOTICS, we care about innovating solutions to enhance your lifestyle. Based on deep understanding of use cases and consumer experiences, we design robots that help you to “live smart, enjoy life”.
With over 20 years of design and industry-leading research, we have led the market as homes become more intelligent and responsive. We are building a world where your home asks less of your attention, becomes more seamless and powerful, and frees you to spend more time doing what you love.
LEWIS Global Communications for ECOVACS
Contact number: +86 512 65875143