Net profit of Chinese service robot maker surges on strong sales

Source: Xinhua | 2018-10-29

China's leading service robot producer Ecovacs Robotics said Saturday that its net profit surged in the first nine months of 2018, boosted by strong sales.

The company posted a net profit of 287.51 million yuan (41.36 million U.S. dollars) for January-September, up 33.85 percent from one year earlier, it said in a statement to the Shanghai Stock Exchange.

Its business revenue rose 28.2 percent to 3.75 billion yuan, lifted by a 45.8-percent surge in service robot sales.

Along with the rise in profit and revenue, the company's research and development (R&D) costs also increased. Its R&D investment in the first nine months climbed 68.16 percent to 150.24 million yuan.