We initiate coverage of growth stocks in the small appliance space with OWratings on Ecovacs, Roborock, and JS Global, and Neutral on Joyoung; wemaintain Neutral on Supor. The five names saw their share prices fall 30% onaverage since July (vs. CSI 300 down 5%) mainly because of port backlogsdragging down their export shipments and margins, which we expect to be less ofa factor post 1Q22. We believe the cleaning appliance category (robotic vacuumcleaners and wet/dry vacuums in particular) will continue to see secular growthover the next three years, aided by i) rising demand given low penetration (singledigits globally), and ii) more supply-side innovative products launched tostimulate market demand globally. We also flag earnings upside potential forEcovacs and JS Global if the tariffs to the US get removed (or reduced). Our toppick is Ecovacs (as we think its model optimization will drive margin expansion),followed by Roborock and JS Global. We are cautious on names with highersales from China’s small kitchen appliance space due to the intensifiedcompetition.