Dreame Technology founder refutes bankruptcy, cites strong cash flow

Dreame Technology founder Yu Hao on Thursday dismissed recent rumors suggesting the company is facing bankruptcy, affirming that the firm has strong cash flow and stable operations. Over the past two years, he and the company have invested around five billion yuan (about $702 million) to repurchase existing shares, increasing his stake from 45% to 70%, according to Yu. The company also reported strong performance this year, with first-half revenue already exceeding its total for 2024. Dreame’s products are now available in more than 100 countries and regions and are sold in over 6,000 offline retail stores worldwide. [Jiemian, in Chinese]