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On April 26, Ecovacs Group reported its financial results for 2024 and the first quarter of 2025, showing a clear upward trajectory. For the full year 2024, the company generated revenue of RMB 16.54 billion (USD 2.3 billion), up 6.7% year-on-year (YoY). Net profit attributable to shareholders rose 31.7% to RMB 810 million (USD 113.4 million). In Q1 2025, revenue reached RMB 3.86 billion (USD 540.4 million), up 11.1%, while net profit surged 59.4% to RMB 480 million (USD 67.2 million), outpacing top-line growth by a significant margin.
While some observers have pointed to government subsidies as a factor, the strength of the Q1 bottom line suggests that internal improvements were the primary drivers. The results reflect Ecovacs’ focus on product innovation, balanced brand development, and cost-efficiency, boosting market confidence in the company’s long-term outlook.
What stands out in the latest earnings report is the balance between Ecovacs’ two core brands. In 2024, the Ecovacs brand (focused on service robots) and Tineco (which makes smart home appliances) delivered nearly equal revenue. Ecovacs generated RMB 8.08 billion (USD 1.1 billion), up 5.2%, while Tineco brought in RMB 8.06 billion (USD 1.1 billion), up 10.9%. Together, they accounted for 48.9% and 48.7% of total revenue, respectively.
This even split is notable in an industry where many consumer tech firms struggle to build successful secondary brands. Ecovacs has managed to turn its two labels into strategic complements: Ecovacs in robotic vacuums, and Tineco, which has quickly become a global player in floor washers.
That diversification also positions the company well at a time when many competitors face stagnating core brands and underwhelming spinoffs. Instead, Ecovacs now offers a full product matrix that covers the spectrum of floor-cleaning needs.
While China’s appliance trade-in program provided some tailwinds, these weren’t the main growth engine. According to data from All View Cloud (AVC), domestic sales of robot vacuums and floor washers reached 6.04 million and 6.62 million units in 2024, up 31.7% and 31.1%, respectively. Ecovacs and Tineco exceeded those benchmarks, with Q4 shipment growth of 47.5% and 32.7%.
Their edge came from better product appeal: tighter lineups and more advanced features, underpinned by sustained R&amp;D investment. In 2024, the company refined its product strategy to focus more squarely on core segments. Ecovacs launched its flagship X8 constant-pressure wet mopping robots, while Tineco introduced the “Floor One Art Station,” designed to address hair entanglement and eliminate water residue with a new multi-layer system.
Simultaneously, Ecovacs began integrating premium technologies into lower-priced models, launching new SKUs to fill gaps across price tiers and recapture share in a saturated market. In a space filled with similar offerings, differentiation through innovation has become key, and that hinges on the ability to fund and translate R&amp;D into real-world impact.
The growth formula is straightforward: invest in R&amp;D, deliver strong products, drive sales, and reinvest in innovation. This feedback loop now anchors Ecovacs’ expansion.
On profitability, Ecovacs posted net income of RMB 810 million (USD 113.4 million) in 2024, a 31.7% increase. Q1 2025 profit rose 59.4% YoY, lifting the net margin to 12.3%, nearly four percentage points higher than the same period last year.
Margin recovery began in late 2024 and has since accelerated. Profit growth is now outpacing revenue gains, thanks to expanding gross margins and a decline in operating expenses.
Gross margin rose from 46.5% in 2024 to 49.7% in Q1 2025—an especially strong showing given the price wars that have compressed margins across the home cleaning appliance market. Ecovacs chose to prioritize value over volume, and that strategy is paying off. A new cycle of product launches and higher-margin SKUs has supported a rebound in profitability.
International markets, especially Europe, also contributed. In 2024, Ecovacs and Tineco grew their European revenues by 51.6% and 64.0%, respectively. Their international strategy involves localizing top-selling domestic products, which reduces risk and increases efficiency. One example: Tineco released a compact version of its “Floor One S7 Combo” for Japanese households with limited space.
These efforts have yielded tangible results. During the 2024 Black Friday season, Tineco’s e-commerce GMV (gross merchandise value) exceeded RMB 540 million (USD 75.6 million), with over 230,000 units sold across nine key markets, including the US, France, Germany, Canada, and Italy.
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Meanwhile, operating expenses have continued to decline. Ecovacs reduced its total expense ratio to 39.2% in 2024, down 3.9 percentage points from the previous year. Sales expenses dropped to 30.3%, while administrative costs edged down to 3.4%.
The company is emerging from a high-investment phase focused on expanding internationally and delivering value-for-money products. As volumes rise, economies of scale are reducing cost ratios and supporting higher margins.
Crucially, while sales and administrative expenses are declining, R&amp;D investment is increasing—signaling a continued focus on innovation as a long-term strategy.
Ecovacs has also streamlined its supply chain and unified procurement of key components. It now uses reusable technical modules across product lines, helping lower costs and improve efficiency.
This approach is attracting industry attention. More competitors are now investing in in-house manufacturing, validating Ecovacs’ early commitment to end-to-end control.
Q1 2025 net profit represents the company’s highest in two years, and one of the strongest in the industry this quarter. The result reinforces both market demand for Ecovacs’ products and the strength of its strategy.
In a market where price wars are the norm, Ecovacs has created a moat through its two brands and global footprint. These strengths have boosted both its brand premium and customer stickiness—two critical levers for enduring, high-quality growth.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3281894275588743">article</a> was written by 36Kr Caijing.

Ecovacs' 59% profit surge shows what works in the home robot race

Robotics

Deep Tech

China

… Yili, and A2 expanding rapidly. Mengniu’s growth potential in this space is increasingly constrained.
Yet Song pointed out that adult formula—rather than infant products—might be the true growth engine. “Once scale is reached, adult formula will become the main revenue and profit pillar in Mengniu’s formula division,” he said.
Across the board, dairy companies including Mengniu may be poised for a policy-driven rebound.
Since March, cities including Hohhot, Changsha, Jinan, and Shenzhen have rolled out fertility subsidy plans, with annual payouts exceeding RMB 10,000 (USD 1,400). In response, dairy companies have been quick to follow suit: Mengniu is offering RMB 180,000 (USD 25,200) in cash to families with three children, while Firmus has pledged RMB 1.2 billion (USD 168 million) in support for pregnant families. Yili, for its part, unveiled a combined initiative of RMB 1.6 billion (USD 224 million) in subsidies and full-cycle services.
Guotai Haitong Securities believes these regional policies—and the voluntary commitments from dairy firms—could help revive demand for formula and liquid milk, easing the raw milk supply glut.
On the secondary markets, the day after Hohhot’s subsidy policy was announced, A-share dairy stocks jumped more than 10%, and the Hong Kong dairy index rose over 7%.
Perhaps most importantly, signs of a market rebound are already showing. After years of falling milk prices and supply-demand imbalances, the sector appears to be stabilizing. According to Song, Mengniu and its peers may no longer need to rely heavily on milk powder production to utilize surplus milk. The raw milk market could reach equilibrium this year and that would offer a much-needed breather for Mengniu as it looks to bounce back amid a more favorable external landscape.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3272525123543426">article</a> was written by Chen Sizhu for 36Kr.

Can Mengniu stage a comeback after a bruising year?

Retail

Consumer Economy

… dependent on China, so they've got to get alternative sources."
Japan, with firms such as TDK and Shin-Etsu, ranks a distant second to China in magnet production and depends heavily on Chinese feedstock for heavy rare earths. South Korea's Star Magnetics, Canada's Neo Performance Materials, and Germany's Vacuumschmelze are similarly constrained.
"There's a very limited amount of alternatives to sourcing those magnets from the Chinese market," said David Merriman, of Project Blue.
The new controls also present a major issue for the US Department of Defense. To apply for an export license, suppliers must provide further details of their downstream. The controls concern "dual use" applications, which means it will be "very difficult" to get them for defense purposes, according to Merriman.
"The Department of Defense is going to have to do something dramatic and figure out how they're gonna get dysprosium and terbium," Ormerod added.
Since 2020, the Pentagon has awarded more than USD 439 million to companies to establish domestic rare earth magnet supply chains, including USD 28 million to Noveon and USD 288 million to Lynas to build a heavy rare earth separation facility in Texas. It also provided eVac, a subsidiary of Vacuumschmelze, with USD 94 million to build a magnet plant in South Carolina.
US company MP Materials, which operates the country's only mine for rare earths, has received USD 45 million in Pentagon funds to establish a domestic mine-to-metal-to-magnet supply chain. It plans to produce 1,000 tons of magnets after ramping up late this year for sale to General Motors and other customers.
But MP has <a href="https://asia.nikkei.com/Economy/Trade-war/US-miner-halts-rare-earth-exports-to-China-due-to-tariff-war">halted</a> rare earth shipments to China, its main source of revenue, as a result of the trade war. That comes after a tough 2024 in which revenue dropped 20% to USD 203.9 million and its operating loss ballooned nearly tenfold to USD 169.4 million.
China, in 2023, <a href="https://asia.nikkei.com/Economy/Trade/China-bans-exports-of-rare-earth-magnet-technologies">imposed</a> tight restrictions on exporting processing and magnet-making technology. Its latest controls, if they turn into a ban, would likely further hobble efforts to expand in the West in the short term, said Jon Hykawy, founder of critical minerals consultancy Stormcrow Capital.
"I'd say these new barriers to rare earth trade probably work out quite nicely for China, as it creates additional issues for building a complete supply chain for rare earth magnets in the West," he said.
This article first appeared on <a href="https://asia.nikkei.com/Business/Technology/Tech-Asia/How-China-s-rare-earth-curbs-complicate-West-s-diversification-push">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

How China's rare earth curbs complicate the West's diversification push

… transformation.
One journalist, after visiting Hebei, wrote:
<blockquote>“The more responsibility you’re willing to bear, the bigger the mission you’ll be able to carry—and the greater the success you’ll achieve.”</blockquote>
For every local government official now standing beneath China’s banner of tech, industry, innovation, and development, that reflection resonates more powerfully than ever.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3280571847843976">article</a> was written by Guo Yunxiao, Huang Zhuxi, Xu Muxin, and Shi Jiaxiang for 36Kr.
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Beneath the bureaucracy: How state capital made (and remade) China’s venture ecosystem

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

<h3>Arysun lands USD 575,000 to accelerate solar adoption in Southeast Asia</h3>
Arysun, a Singapore-based climate tech startup, has secured USD 575,000 in pre-seed funding to broaden access to rooftop solar solutions for Southeast Asian households. The round was led by Wavemaker Impact, with participation from the First Move Fund.
The company offers starter kits that are reportedly low-cost and user-friendly, tailored to households in Indonesia. With energy costs rising and demand for sustainable alternatives growing, Arysun is targeting the region’s emerging middle class to fill a market gap.
The funding will be used to expand the team, scale up installations, and develop a digital platform to streamline solar adoption. Arysun also plans to establish partnerships with local installers, suppliers, and financing providers to strengthen its market presence.
Arysun’s long-term goal is to achieve 100 million tons of carbon abatement annually.
<figure id="attachment_152990" aria-describedby="caption-attachment-152990" style="width: 450px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-152990" src="https://console.kr-asia.com/wp-content/uploads/2025/05/Arysun-Aik-Phong-Ng-720x560.jpg" alt="Photo of Aik-Phong Ng, founder and CEO of Arysun." width="450" height="350" srcset="https://console.kr-asia.com/wp-content/uploads/2025/05/Arysun-Aik-Phong-Ng-720x560.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/05/Arysun-Aik-Phong-Ng-1024x796.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/05/Arysun-Aik-Phong-Ng-768x597.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/05/Arysun-Aik-Phong-Ng.jpg 1080w" sizes="(max-width: 450px) 100vw, 450px" /><figcaption id="caption-attachment-152990" class="wp-caption-text">Photo of Aik-Phong Ng, founder and CEO of Arysun. Photo and header photo courtesy of the company.</figcaption></figure>
<h3>Nuevocor raises USD 45 million to advance gene therapy for cardiomyopathy</h3>
Nuevocor, a biotech firm focused on treating cardiomyopathies through mechanobiology, has raised USD 45 million in a Series B funding round co-led by Kurma Partners and Angelini Ventures. The round also saw continued support from EDBI, ClavystBio, Boehringer Ingelheim Venture Fund, Highlight Capital, and Seeds Capital.
Proceeds from the round will fund clinical trials for the company’s lead candidate, NVC-001, a gene therapy developed to treat LMNA-related dilated cardiomyopathy, a severe genetic heart condition. Nuevocor plans to open trial sites across the US and Europe and will establish a clinical office in Paris. The therapy is based on Nuevocor’s proprietary platform and is designed to correct biomechanical dysfunction at the nuclear level.
Beyond its lead asset, Nuevocor is developing a broader pipeline to address other mechanobiology-driven cardiovascular diseases.
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<h3>Recent deals completed in China:</h3>
<ul>
<li aria-level="1"><a href="https://www.lanxinrobotics.com/">Lanxin Robotics</a>, a robotics technology firm, has raised an eight-figure RMB sum in a Series C+ funding round led by Kunpeng Fund. The funds will support advancements in its 3D sensing technology, humanoid robotics, and improvements to its supply chain and service infrastructure. —<a href="https://36kr.com/p/3281993571443331">36Kr</a></li>
<li aria-level="1">Xingkeyuan, an advanced materials startup, has secured an eight-figure RMB sum in an angel plus round backed by Oriza Seed. Existing investors include HongShan’s seed fund, K2VC, KylinHall Partners, the Shuimu Tsinghua Alumni Seed Fund, and Six Sigma Capital. The funds will be used for product development and scaling manufacturing capabilities. —<a href="https://36kr.com/p/3283422131856264">36Kr</a></li>
<li aria-level="1"><a href="https://rino.ai/">Rino.ai</a>, an autonomous driving company, has raised RMB 200 million (USD 28 million) in a Series B round led by SF Express, with support from Shineray Motors and returning investor Linear Capital. The funding will fuel the development of new unmanned vehicle products and support market expansion for existing models. —<a href="https://36kr.com/p/3282350631478151">36Kr</a></li>
<li aria-level="1"><a href="http://ulsrobotics.com/en/">ULS Robotics</a>, an exoskeleton technology platform, has raised an eight-figure RMB sum in a Series B round led by BeFor Capital, with follow-on investment from Guoyi Capital. This round follows a Series A+ raise in July 2024 led by Dunhong Capital. The new capital will support mass production of consumer-grade exoskeletons and further integration of exoskeleton hardware with artificial intelligence. —<a href="https://36kr.com/p/3282315635336068">36Kr</a></li>
<li aria-level="1"><a href="https://www.gz-ichip.com/">Silicon Extreme</a>, a Hefei-based quantum computing startup, has secured a multi-million RMB investment (USD 1.4–2.8 million) from Vertex Ventures China, with Index Capital serving as financial advisor. The funding will support R&amp;D for integrated photonic quantum chips and general-purpose quantum computing systems. Another funding round is currently in progress. Founded in 2020, the company collaborates with leading Chinese universities to commercialize quantum chip technologies. —<a href="https://36kr.com/p/3272037283192964">36Kr</a></li>
</ul>
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<h3>Neufast, Co-Axis, Krenovator, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Neufast, a Singapore-headquartered startup, landed USD 1.1 million in a pre-Series A funding round led by Wavemaker Ventures, with additional capital from Wings Capital Ventures.</li>
<li aria-level="1">Co-Axis, a digital marketplace for impact investments, raised SGD 1.25 million (USD 966,130) in catalytic capital from the Richardson Family and Catalytic Capital for Climate and Health (C3H), a Temasek Trust initiative.</li>
<li aria-level="1">Krenovator, a Malaysia-based tech talent platform, closed an undisclosed seed funding round led by Ignite Asia.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Wavemaker Impact leads Arysun’s pre-seed round, Nuevocor raises USD 45 million, latest funding deals in China, and more

Singapore

Southeast Asia

Southeast Asia's venture capital associations have released guidelines to set regional governance benchmarks for startups as they begin to address rising concerns of poor professionalism in the tech industry.
The collaboration of leading private capital groups from Singapore, Indonesia, Thailand, Vietnam, and Malaysia has resulted in the launch of a document titled "Maturation Map: Corporate Governance in Southeast Asia Private Markets."
"This foundational document sets a shared benchmark for startup governance, aiming to future-proof the region's innovation economy and build the trust for long-term capital formation and public market readiness," the associations wrote in a statement released on April 24.
Singapore Venture and Private Capital Association (SVCA) vice chairman Shane Chesson, noted that Southeast Asia's private investment landscape is "still young and learning."
"The 'Maturation Map' … is a sign of the collective will and approach we can take to improving governance for better investment returns," he said.
The SVCA is set to summarize the document into an industrywide playbook for discussion with startup founders and board members.
The document will act as a guide and also reflect the collective voice of venture and growth investors, founders, board members, regulators, advisers, and legal experts.
"It is designed to strengthen governance from pre-revenue startups to IPO-ready companies—supporting sustainable innovation, scaling, and successful exits," the statement said.
Regional investment firms, legal experts, and governance advisers were involved in designing the guidelines. "The result is a comprehensive, practical framework aimed at reducing governance failures, encouraging active diligence, and preparing high-potential startups for successful exits via IPO or merger and acquisition," according to the statement.
The associations acknowledged they were partly motivated by high-profile governance breaches, including financial mismanagement and fraud in Singapore, Indonesia, Vietnam, and the Philippines. "These incidents have highlighted the urgent need for proactive, stakeholder-led governance practices, especially in private markets where regulatory oversight is limited."
In Indonesia, aquaculture technology company eFishery was recently accused of financial fraud. Preliminary findings from a forensic audit revealed that eFishery's founders and top executives had inflated the startup's revenue nearly fivefold between January and September 2023 and manipulated earnings figures to make it appear profitable despite incurring massive losses.
Other findings include alleged mismanagement and financial embezzlement at edtech startup Skola in Vietnam and Philippine-based fintech firm PayMongo. Local police are investigating both cases.
The guidelines set out proposed action for active due diligence, emphasizing that investment practices should be continually reviewed and improved. "This ensures that companies meet increasingly stringent criteria as they mature and are better positioned to navigate future challenges," the document noted.
The guidelines also encourage artificial intelligence-driven governance solutions to detect financial anomalies, automate reporting, and improve real-time oversight. "This technological integration can enhance accuracy and timeliness in monitoring corporate activities and raise [the] difficulty of executing fraudulent acts," the document stated.
In its final section, the guidelines recommend enhancing the adviser ecosystem, along with stronger governance frameworks for supervision and enforcement. "Prioritizing enforcement of shareholders' rights and exploring legal avenues to address breaches … underscore the importance of accountability and deterrence."
The association refers to the guidelines as a living document, which will be updated regularly based on feedback, changing market conditions, and ongoing dialogue.
"The 'Maturation Map' helps set that direction for Southeast Asia, and we support the call for stronger follow-up measures like regular audits, board training, and ESG tracking to raise the bar together," said Ng Sai Kit, the chairman of the Malaysian Venture Capital &amp; Private Equity Association (MVCA).
This article first appeared on <a href="https://asia.nikkei.com/Business/Startups/Southeast-Asian-VCs-move-to-set-startup-governance-standards">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Southeast Asian VCs move to set startup governance standards

Malaysia

Thailand

Vietnam

Indonesia

… key electronics suppliers were heavily controlled by Wall Street investors—because tariffs could crush profits, prompting US companies to abruptly exit certain markets.
Whenever cost savings tempted firms to use US-made components, they also developed parallel localized or backup supply options.
For example, many automakers still use TI chips because they are mature, non-core power management chips with highly competitive prices. But should tariffs significantly raise costs, switching would pose no technical hurdle.
Similarly, Gentex, a major US supplier of automotive mirrors, remains attractive because of cost. However, if tariffs make Gentex parts too expensive, Chinese automakers could quickly pivot to domestic alternatives.
Nio insiders shared with 36Kr that its rapid shift from Wolfspeed to an alternative was only possible because validation of backup options commenced as early as two years ago. This risk awareness isn't limited to the supply chain—it’s embedded in Chinese carmakers' global market strategies.
Brands like Nio and Li Auto see the US as a key market alongside China and Europe. Early user surveys showed strong potential appeal in the US. Li Auto even explored setting up a factory in Mexico but ultimately abandoned the plan due to policy unpredictability, avoiding what seemed like a risky investment.
Sure enough, in September 2024, the Biden administration slapped an additional 100% tariff on Chinese EVs.
<h3>Supply chains can survive—but not thrive—on independence</h3>
China’s conservative strategy helped its automakers weather the tariff tsunami. For foreign brands, the same tariffs have undercut years of localization work.
Tesla is now scrambling to shift production to Southeast Asia. However, within the automotive industry, it is common knowledge that the region's weak electricity infrastructure poses a major bottleneck for heavy manufacturing.
An executive at a German automotive parts company shared that a colleague from India marveled at how power outages were virtually nonexistent in China during a visit there.
Another battery industry insider revealed that at his company’s Thailand plant, energy-intensive equipment like large ovens could barely operate during daytime hours, making continuous production impossible.
Despite these constraints, once supply chain diversification begins, it becomes difficult to stop. Following the US government’s tariff hikes, German firms in China have also been advised to relocate production to Eastern Europe.
An executive at a German fastener company said its US branch stockpiled Chinese-made inventory after Trump's reelection, but supplies are running low.
He expressed deep skepticism about US manufacturing: "First, you can't hire enough workers. Second, quality control is worse than China. Third, prices are much higher." Still, if the tariff war drags on, options may narrow to either manufacturing in the US or raising prices year after year.
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For luxury carmakers like BMW and Mercedes-Benz, closing off supply chains also stifles innovation.
Both brands continue to import key electronic components from the US and Europe, especially critical safety sensors for speed, steering, and component status.
BMW engineers told 36Kr that Chinese employees are rarely involved in developing or testing these parts. Even for localized production, suppliers liaise directly with German R&amp;D teams.
Mercedes-Benz added that while basic materials, molds, and testing standards can be localized easily, replicating the intricate manufacturing processes behind electronics remains difficult.
For critical components like airbags—designed to save lives in an instant—luxury automakers still prefer US and European suppliers, despite China's manufacturing strength.
On April 23, signals of a potential softening in the US tariff stance emerged. But for the automotive supply chain, vigilance remains paramount.
"When planning global operations, we don't just look at the next one to two years," said an executive at a leading parts company. "We plan five to ten years ahead—or longer."
Regional supply chain independence is fast becoming the norm. For some European luxury brands, producing in China for China and in the US for the US is now standard strategy.
The broader question is whether full decoupling in such an interdependent space sends a warning for global trade. If even the automotive industry can be split down geopolitical lines, what comes next?
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3124633172858887">article</a> was written by Xu Caiyu for 36Kr.

Trump’s new tariffs rattle supply chains, but China’s EV firms aren’t blinking

Transportation

Electric Vehicles

Mobility

… to innovation. The heavy tilt toward marketing over R&amp;D has drawn criticism—a pattern also seen with Beneunder. In response, Pelliot is now positioning R&amp;D as a key investment area post-IPO.
In January 2025, the company launched its high-end line, “The Limit.” Early sales figures haven’t been disclosed, but the move signals a desire to move upmarket.
<figure id="attachment_152809" aria-describedby="caption-attachment-152809" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-152809" src="https://console.kr-asia.com/wp-content/uploads/2025/05/Pelliot-The-Limit.jpg" alt="Image features Pelliot’s “The Limit” product line." width="1920" height="1080" srcset="https://console.kr-asia.com/wp-content/uploads/2025/05/Pelliot-The-Limit.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/05/Pelliot-The-Limit-720x405.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/05/Pelliot-The-Limit-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/05/Pelliot-The-Limit-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/05/Pelliot-The-Limit-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/05/Pelliot-The-Limit-480x270.jpg 480w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-152809" class="wp-caption-text">Image features Pelliot’s “The Limit” product line. Image and header image source: Pelliot.</figcaption></figure>
To strengthen its brand image, Pelliot has partnered with outdoor education group Camp Greenwoods and named teenage mountaineer Li Haorong as a brand ambassador. It also sponsors a national-level ski mountaineering event in China. On social media, some users say wearing Pelliot gear feels like gearing up for a scientific expedition.
Pelliot’s affordable technical jacket helped it break into the capital markets. But its real challenge now begins: moving beyond a single product success and shedding its image as a budget brand. Whether it can build a broader, more premium identity—and sustain that momentum—will determine its future.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3269484422599046">article</a> was written by Peng Qian for 36Kr.

Budget brand no more? Pelliot readies Hong Kong IPO after profit surge

Fashion

Creative

Hong Kong

… <a href="https://36kr.com/p/3181743545750407">article</a> was written by Huang Nan for 36Kr.

Can a smart grill from China earn a place in American backyards?