Who owns Roborock? Ownership structure explained (2026)

Roborock is the company behind some of the best-selling robot vacuums in the world. It started life as a startup inside Xiaomi's ecosystem of hardware partners, where Xiaomi supplied early capital and a sales channel in exchange for a sizable equity stake. Twelve years later, Xiaomi's influence on the cap table has faded to a small holding, and the company's own brand now sells in markets from Europe to South Korea.

That shift makes the ownership question more interesting than it looks. On paper, Roborock is a widely held public company with more than 32,000 shareholders. In practice, one person controls it: founder Chang Jing, who owns roughly a fifth of the stock, chairs the board, and runs the business day to day. No other shareholder comes close.

This article explains who owns Roborock, how its register changed, and why that structure matters for investors, employees, and customers.

Roborock was founded in 2014 in Beijing by Chang Jing. Its registered company name is Beijing Roborock Technology Co., Ltd. (北京石头世纪科技股份有限公司). Xiaomi invested a few months after the company was founded, and Roborock grew up as part of the network of hardware makers that Xiaomi backed and sold through, often called its "ecosystem chain."

The core business is smart cleaning hardware. Roborock designs and sells robot vacuums, wet and dry floor washers, cordless stick vacuums, and, since 2023, washing machines. At IFA 2026 it also showed a pool-cleaning robot and a robotic lawn mower.

The business has grown quickly. Revenue rose 56.51% in 2025 to RMB 18.69 billion, and overseas sales made up 56% of the total. Growth was bought at a cost, though: net profit attributable to shareholders fell 31.03% to RMB 1.36 billion as the company spent heavily on marketing and competed on price. In the first half of 2026, revenue rose 27.60% to RMB 10.08 billion and net profit recovered 45.60% to RMB 986 million, helped in part by refunds of US tariffs paid under the IEEPA.

IDC ranked Roborock the world's largest household cleaning robot brand in 2025, with 5.8 million units shipped and a 17.7% share of a category that also includes lawn mowers and other home robots. Euromonitor separately ranks it first globally in robot vacuums.

Roborock is publicly traded. Its A shares have listed on the Shanghai Stock Exchange's STAR Market, the exchange's board for technology companies, since February 21, 2020. It has no parent company. The company's filings name Chang Jing as both its controlling shareholder and its actual controller, which is the Chinese disclosure term for the person who ultimately directs the business.

As of June 30, 2026, Roborock had 259,261,224 shares outstanding, all of them unrestricted A shares, held by 32,857 shareholders. Another 289,894 shares were registered on July 30, 2026 under an employee incentive plan, bringing the total to 259,551,118, and a further 16,658 vested shares in September lifted it to 259,567,776. There are no dual-class or special voting shares, so Chang's control comes from the size of his stake and his seat as chairman, not from enhanced voting rights.

Chang Jing held 54,377,411 shares at the end of June 2026, equal to 20.97% of the company. At the September 24, 2026 closing price of RMB 114.60, that stake was worth roughly RMB 6.2 billion. He did not buy or sell any shares in the first half of 2026.

His stake has shrunk over time. Between March 2023 and June 2024, Chang sold shares worth about RMB 888 million through open-market sales and an inquiry transfer, cutting his stake from 23.15%. It stood at 21.03% at the end of 2024 and 20.99% at the end of 2025, and the small declines since then reflect dilution from new shares issued to employees rather than further sales. The filings do not disclose any timetable for future sales. Co-founder Mao Guohua held 1.20% at the end of 2024 after selling part of his stake, according to Red Star Capital, and no longer appears among the top ten.

The filings state that Chang is not acting in concert with any other top ten shareholder, so his control rests on his own 20.97%, not on a voting bloc.

The table below shows Roborock's ten largest shareholders as of June 30, 2026, from the company's half-year report.

Two patterns stand out. First, apart from Chang, no holder owns more than 5%. Second, most of the institutional names are index funds that track the STAR 50 or robotics indexes, and nearly all of them cut their positions in the first half of 2026. Hong Kong Securities Clearing, which holds shares for foreign investors trading through the Stock Connect link, sold about 4.7 million shares in the period.

Ding Di, the second-largest holder, is listed only as a domestic individual investor. The filings do not describe any role at the company. Roborock's own buyback account held another 3,243,119 shares, or 1.25%, which are excluded from the table.

Roborock raised money privately before its IPO, but the amounts and valuations of those early rounds have not been publicly confirmed. The table records what can be verified.

Xiaomi was Roborock's most important early backer. At the 2020 IPO, Xiaomi-linked entities held 24.7% of the company through two vehicles: Tianjin Jinmi Investment Partnership and Shunwei Capital, according to Caixin. Both have been selling since. Tianjin Jinmi's stake fell from 4.49% at the end of 2023 to 2.93% at the end of 2024, and it now stands at 2.49%. Shunwei, which had invested in 2016, dropped out of the top ten entirely during 2024 after its stake fell to 2.88%. The same fund also backed smart-lighting maker Govee, and Govee's venture-heavy cap table shows how widely Xiaomi-linked money has spread through Chinese consumer hardware. Xiaomi does not appear to have a representative on Roborock's current board.

Index funds now make up most of the institutional register. ChinaAMC and E Fund each run two of the top ten positions, through STAR 50 and robotics ETFs. Reporting by Chinese outlet Caizhongshe in August 2026 found that the number of funds holding Roborock fell from 709 at the end of 2024 to 57 by mid-2026, while the number of shareholder accounts rose by more than 70%.

Qiming Venture Partners and Gaorong Capital were among the pre-IPO investors. At the end of 2021, Gaorong held 4.04% and Qiming 3.02%, according to Chinese financial press citing the annual report. Neither appears in the top ten today.

Roborock has been working toward an "A+H" dual listing, which would add Hong Kong-traded H shares alongside its Shanghai stock. It first filed with the Hong Kong exchange on June 27, 2025, with J.P. Morgan and CITIC Securities as joint sponsors. After that application lapsed, Roborock refiled on December 31, 2025. It received China's regulatory filing notice in late December 2025, and the exchange's listing committee held a hearing on January 15, 2026.

The listing never priced. The second application reportedly lapsed on June 30, 2026, six months after it was filed, and Roborock no longer appears among active applicants on the exchange's website. In June 2026 the company told investors it was still assessing the market window. The August 2026 half-year report showed zero overseas-listed shares. If it goes ahead, new H shares would dilute Chang's percentage stake, though the size of any offering has not been disclosed. A useful contrast is Anker's founder-controlled dual listing, which completed its own Hong Kong debut in July 2026 with the founding couple still holding close to half the company.

Chang Jing is chairman, general manager (the equivalent of CEO), and legal representative. He has run the company since founding it and has chaired the board since at least December 2018. Before Roborock, he worked at Microsoft, Tencent, and Baidu, according to Chinese financial press. In 2021 he also founded Rox Motor, an electric vehicle maker in Shanghai in which he held a 40% stake. Rox raised $100 million in late 2021, with Tencent contributing more than $50 million, according to CnEVPost.

Quan Gang is vice general manager and a non-independent director. Wang Xuan has served as chief financial officer since 2019. Shi Rui became board secretary in April 2026, replacing Sun Jia.

The third board was elected on November 19, 2024, for a term ending November 2027, and several seats changed hands during 2025. According to the board roster published by Sina Finance, it now includes Chang Jing, Sun Jia, and Quan Gang as non-independent directors, Wu Qi as the employee representative director, and four independent directors: Zhang Yanan, Liu Fei, Ma Lijun, and Chen Fancheng. Quan Gang and all four independent directors joined during 2025.

None of the reported directors is identified as a Xiaomi or investor representative. In practice, strategy, capital allocation, and management appointments rest with Chang.

Between March 2023 and June 2024, Chang sold shares worth about RMB 888 million. In a video posted in late November 2024, as the stock fell after weak third-quarter profits, he urged investors to be patient. The contrast drew criticism in Chinese financial media in December 2024. The company said there had been no sale at a high price and that his remarks had been misread. His Douyin account went quiet afterward, according to Red Star Capital, and in April 2025 he cleared most of his social media posts. The shares have since fallen further, closing at RMB 114.60 on September 24, 2026.

Roborock's 2025 results showed the cost of chasing share in a crowded market. Revenue grew by more than half, but net profit dropped by nearly a third as selling expenses climbed and competition with Ecovacs, Dreame, and other Chinese brands pushed prices down. Few of those rivals match Roborock's overseas scale, a gap a competitive analysis template helps map. First-half 2026 profit rebounded, but part of that recovery came from one-off US tariff refunds, which the company says have not yet been finalized by its auditors.

With more than half of revenue earned outside China, Roborock is exposed to import duties and trade policy in the US and Europe. It has shifted some production to contract manufacturers in Vietnam and Malaysia to reduce that exposure. As of June 30, 2026, a Roborock subsidiary had received about $39.87 million in refunds of tariffs collected under the IEEPA, of which about $27.88 million was booked as income in the period. Tariffs, refunds, and supply-chain shifts are the kind of risks a risk register template is built to track.

Roborock's structure gives one person unusual control over a company with tens of thousands of shareholders. Chang's 20.97% stake is more than four times the next-largest holder. That lets him make long-term bets, such as moving into washing machines, lawn mowers, and pool robots, without needing to build a coalition among investors. It also means minority shareholders have limited ways to push back if they disagree.

The fading of Xiaomi is the other big story. A company that once relied on Xiaomi for capital and distribution now holds its own brand and sells more abroad than at home. That independence is part of why its trajectory looks closer to Dyson's founder-led ownership than to a typical ecosystem supplier, even though Dyson is private and Roborock is not.

For investors, the register has become more retail and more passive. Most funds have left, and the company has turned to buybacks, including RMB 300 million in mid-2026. The market cap of about RMB 29.7 billion is now below the roughly RMB 33 billion value the stock reached on its first trading day in 2020, despite revenue growing several times over since. Anyone checking that gap can plug the latest profit figures into a business valuation calculator.

For customers, the structure mostly shows up in product strategy. A founder-controlled company can keep spending on research, which reached RMB 1.42 billion in 2025, and on new categories, even when that pressures margins. The trade-off is that the company's direction depends heavily on one person's judgment.

Roborock is a public company owned by its shareholders. Founder Chang Jing is the controlling shareholder with 20.97% of the shares as of June 30, 2026. The next-largest holders are individual investor Ding Di at 4.53% and Xiaomi-affiliated Tianjin Jinmi at 2.49%.

No. Xiaomi was an early investor and once held 24.7% through two affiliated entities, but it has sold most of that stake. Its remaining vehicle, Tianjin Jinmi, held 2.49% as of mid-2026, and it does not appear to have a representative on Roborock's board.

Chang Jing is chairman and general manager, which is the equivalent of CEO. He founded the company in 2014 and has led it since.

Yes. Roborock trades on the Shanghai Stock Exchange's STAR Market under the ticker 688169. It listed in February 2020 and has twice applied for a second listing in Hong Kong. The latest application reportedly lapsed in June 2026, and no Hong Kong shares had been issued as of September 2026.

Chang Jing founded Roborock in Beijing in 2014. Xiaomi invested shortly after, and the company grew inside Xiaomi's hardware ecosystem before building its own global brand.

Roborock's market capitalization was about RMB 29.7 billion, or roughly $4.4 billion, at the close on September 24, 2026. The company raised about RMB 4.5 billion in its 2020 IPO, when its market cap passed RMB 33 billion on the first day of trading.