Robam, wartet auf die "Mahlzeit" von KI

Some time ago, Boss Electric Appliance released its 2025 annual report. Based on this annual report, industry observers have concluded that the painful period of Boss Electric Appliance, during which it is transforming from a real - estate - driven growth strategy to an internal growth strategy, is not yet over.

In 2023, Boss Electric Appliance set the strategic goal for 2023 - 2025 as "Create a new Boss Electric Appliance within 3 years".

Previously, the sales revenue of Boss Electric Appliance in 2022 was 10.272 billion yuan. Now, the sales revenue in 2025 has dropped to 10.116 billion yuan, representing a decrease of 9.78% compared to 2024.

After 3 years, not only has a new Boss Electric Appliance not been created, but the sales revenue has even decreased.

"Create a new Boss Electric Appliance within 3 years"

Ren Fujia, the second - generation successor of Boss Electric Appliance, is the only son of the founder Ren Jianhua. In 2013, at the age of 30, he took over from his father as the general manager.

In 2023, at the event for the release of Boss Electric Appliance's new three - year strategy, Ren Fujia made the statement: "By 2025, a new Boss Electric Appliance should be created."

The background for this slogan was not optimistic.

Boss Electric Appliance was founded in 1979. Thanks to the advantages of the project channel during the golden decade of the real - estate industry, it has developed rapidly and become a giant in the kitchen appliance industry.

According to statistics, the proportion of the project channel that Boss Electric Appliance has long relied on reached a peak of 54.54%.

Range hoods, gas stoves, and dishwashers are the three key products of Boss Electric Appliance, through which it has entered real - estate cooperation. Top - 100 real - estate companies such as Evergrande, Country Garden, and Vanke are all cooperation partners of Boss Electric Appliance.

From 2009 to 2017, Boss Electric Appliance achieved double - digit growth rates in both sales revenue and net profit, with the average growth rate of net profit exceeding 40%.

In 2021, the real - estate industry entered a downward phase, which has led to a drastic decline in the project orders of Boss Electric Appliance. In 2022 and 2023, the growth rate of Boss Electric Appliance's sales revenue dropped to single - digits. The stock price of Boss Electric Appliance has also been steadily falling since it reached a peak in July 2021.

The development of the second growth curve has also encountered setbacks.

In 2015, Boss Electric Appliance launched a dishwasher more suitable for Chinese kitchens; in 2018, in the wave of the consumption of steam and baking appliances, it launched a steam - baking combination appliance; in 2022, it entered the field of integrated cooktops and released the first ROKI digital kitchen appliance.

However, after several years of investment, by 2023, new businesses such as integrated cooktops, dishwashers, and steam - baking appliances together account for less than 15% and cannot effectively replace traditional businesses yet.

At this time, AI and digitalization have become important topics in the household appliance industry. Ren Fujia has focused the transformation on AI and intelligent hardware to create a new growth curve. This is also the starting point for the "creation of a new Boss Electric Appliance".

In June 2024, Boss Electric Appliance released the industry's first AI cooking large - model "Shishen". According to the official introduction, "Shishen" can not only recommend recipes and manage healthy diets, but also cook automatically by coupling and controlling hardware such as range hoods, stoves, and steam - baking appliances.

The company has also launched the ROKI digital kitchen appliance "Creator i1", which is said to be equipped with the world's first AI cooking assistant "Mr. ROKI" and can connect kitchen appliances to enable intelligent cooperative work. This measure is regarded as an important attempt by Boss Electric Appliance to reshape traditional kitchen appliances.

Boss Electric Appliance after 3 years

First, let's talk about the sales channel of Boss Electric Appliance that is most affected by the real - estate industry.

The main sales channels of Boss Electric Appliance mainly include offline sales partners, online e - commerce, and project installation. In recent years, the real - estate market in China has been constantly adjusting, and the project installation channel of Boss Electric Appliance is still in a "inertial decline".

At the same time, the proportion of the online channel has also decreased. In 2024, the online market shares of Boss Electric Appliance's range - hood - gas - stove sets, kitchen - appliance sets, and range hoods were 26.89%, 25.46%, and 21.41% respectively. By 2025, these market shares had dropped to 18.82%, 17.57%, and 19.57% respectively.

Behind these data lies the fluctuation of the core foundation of Boss Electric Appliance. In 2025, the range hood achieved a sales revenue of 4.985 billion yuan, accounting for 49.28% of the total sales revenue and a decrease of 8.62% compared to the previous year; the sales revenue of the gas stove was 2.506 billion yuan, accounting for 24.77% of the total sales revenue and a decrease of 9.76% compared to the previous year. The range hood and gas stove categories together account for over 74% of the sales revenue, but the sales revenue of both categories has decreased. The industry evaluates that the core foundation of Boss Electric Appliance is shrinking.

The offline sales partner, on the other hand, has made new progress. In 2025, Boss Electric Appliance achieved a sales revenue of 3.83 billion yuan, representing an increase of 8.07% compared to the previous year. This is the only core channel with positive growth. The growth impetus mainly comes from the development of the lower - tier market by opening up businesses together with the installation and building materials industry.

The businesses that were once regarded as the second growth curve have not met expectations in terms of specific performance.

In 2025, Boss Electric Appliance achieved a sales revenue of 680 million yuan from dishwashers, representing a decrease of 14.1% compared to the previous year; the sales revenue from integrated cooktops was 139 million yuan, representing a drastic decrease of 57.56% compared to the previous year; the sales revenue from steam and baking ovens was almost halved; the sales revenue from dishwashers showed a decrease of over 30% compared to the previous year.

In the field of AI, Boss Electric Appliance has paid special attention in recent years, and it has actually brought some growth.

In 2025, Boss Electric Appliance achieved an annual sales revenue of 2.35 billion yuan from "AI - digital kitchen appliances", representing an increase of 36% compared to the previous year and accounting for 23% of the total sales revenue.

Although it has not yet become the core source of sales revenue, it has already shown some progress.

Industry observers have pointed out: "Ren's attempt with AI still has a positive meaning. Although the current returns are not ideal, one will get into a dangerous situation if there is no AI technology accumulation to build competitiveness in the next ten years."

In 2026, Boss Electric Appliance further increased its investment in AI. In March of this year, Boss Electric Appliance officially released the world's first AI cooking glasses that can cook and the first AI seasoning robot that can precisely measure ingredients according to the recipe. Together with the Shishen model and AI - digital kitchen appliances, they form an "Intelligent Cooperative Network".

Here, the large - model understands the cooking intention as the "brain", the AI - digital kitchen appliances execute the control of firepower, air volume, etc. as the "limbs", and the AI glasses provide real - time visualization to make every detail of the cooking process controllable.

AI has already become an increasingly important card in the kitchen appliance market. Many kitchen appliance companies, including Boss Electric Appliance, have already started planning.

Vatti has launched products such as the "AI Health Kitchen Assistant" and the "Hidden - Nest System", which integrate functions such as AI - adaptive smoke control and AI - safety monitoring and are developing into a system - based intelligent kitchen system.

Fotile, which recently launched a kitchen robot, has carried out systematic research for eight years. In 2018, Fotile founded Hangzhou Fotile Intelligent Technology Co., Ltd. to focus on the development of intelligent robots.

In the end, the competition among kitchen appliance companies in the AI industry comes down to technological competition. Although the results are not very obvious at present, AI is already an irreplaceable card. Especially for companies like Boss Electric Appliance, which pin their second business success on AI, AI is a battle that they must win.

Conclusion

In 2026, Boss Electric Appliance is facing a difficult situation. In the first quarter of this year, Boss Electric Appliance achieved a sales revenue of 1.963 billion yuan, representing a decrease of 5.46% compared to the previous year; the net profit was 307 million yuan, representing a decrease of 9.82% compared to the previous year. The net cash flow from operating activities has dropped from - 187 million yuan in the same period of the previous year to - 421 million yuan.

Actually, it's not just Boss Electric Appliance that is currently in trouble.

AVC data shows that the total sales revenue of all kitchen and sanitary products in 2025 was 161.3 billion yuan, representing a decrease of 8.5% compared to the previous year. The sales revenue of the range - hood industry decreased by 3.6% compared to the previous year, and that of the gas - stove industry decreased by 4.9%.

Moreover, the market situation in 2026 may be more difficult than in 2025, as the marginal effect of the state's subsidy policy is decreasing, consumer confidence is slowly being restored, and the real - estate market is constantly adjusting.

Whether AI is a solution or just a placebo may need a more in - depth answer in 2026. Against this background, more hopes are placed on AI than ever before.

References:

1. Lanmeihui: The "lie" of Boss Electric Appliance has been exposed

2. Daily Capital Theory: Boss Electric Appliance is almost 50 years old

3. Internet News: Boss Electric Appliance has missed the chance to become the "king of kitchen appliances"

4. Connect Insight: Has Boss Electric Appliance entered the most difficult phase?