Woan Robot Secures 'Buy' Rating with Revenue Forecast to Hit ¥19.4B by 2027
Huayuan Securities initiated coverage of Woan Robot (06600) with a 'Buy' rating on March 12, signaling confidence in the company's growth trajectory. The securities firm projects Woan Robot's revenue will climb to 9.0 billion yuan in 2025, 14.8 billion yuan in 2026, and 19.4 billion yuan in 2027. These figures represent year-over-year growth rates of 47%, 65%, and 32%, respectively. The analysis highlights the company's leadership in the home embodied intelligence sector, supported by a self-developed VLA model and a proven commercial strategy in overseas markets.
International Sales Exceed 95% as Firm Leads Global Market
Woan Robot's financial performance is anchored by its commanding international presence, with over 95% of its revenue originating from outside China. In 2024, Japan accounted for 58% of total revenue, followed by Europe at 21% and North America at 16%. This strategy has cemented its position as the world's largest provider of AI embodied home robot systems, capturing an 11.9% market share by retail sales in 2024, according to Frost & Sullivan data. The company's revenue has grown at a compound annual rate of 49% between 2022 and 2024, reaching 6.1 billion yuan in the last fiscal year.
New Humanoid Robot Priced Under $10,000 to Fuel Expansion
Future growth is expected to be propelled by a series of innovative, higher-value products. The company launched its Onero H1 humanoid household robot in January 2026, which is planned to sell for under $10,000. This product targets key domestic tasks like sorting laundry and cleaning dishes. Other strategic releases include the Acemate AI tennis robot, which raised over $2.4 million on Kickstarter, and the Kata Friends AI companion robot, which introduces a subscription-based revenue model. These new products are designed to increase the company's average selling price (ASP), expand into new verticals like sports training, and solidify its technological leadership.
