Unitree reports 70% surge in quarterly revenue, though AI investment weighs on net profit
Leading Chinese robotics company Unitree Robotics on Wednesday reported a 69.93 per cent year-on-year increase in quarterly revenue to 665 million yuan (US$99.7 million), though net profits excluding non-recurring items fell 17.42 per cent to 105 million yuan, as the company released its first earnings since going public. The results for the three months ending September 30 showed a continued…
Chinese robotics firm Unitree Robotics announced a 69.93% year-on-year surge in quarterly revenue to 665 million yuan (US$99.7 million) in its latest earnings report. However, net profits excluding non-recurring items fell 17.42% to 105 million yuan as the Hangzhou-based company ramped up investments in software "brains" for its robots.
Research and development spending jumped 249.58% year-on-year to 127.04 million yuan, representing nearly 19% of revenue. Unitree's net profit attributable to shareholders reached 387 million yuan, a 270.54% increase, for the first three quarters of the year. The company's shares in Shanghai rose 8.74% following the earnings release, recovering some of the 60% drop from their peak after their debut on the Shanghai Stock Exchange in August.
Unitree's stock has recently benefited from technical advancements in AI models such as OpenAI’s GPT-6 Astra, which showcased remarkable robotics manipulation skills. Industry experts are closely monitoring the results, given the unprofitable status of most Chinese humanoid robot businesses. Unitree's cost of sales is growing faster than revenue, with costs increasing by around 78% to 836 million yuan in the first three quarters.
The company's initial public offering provided a substantial cash infusion, with cash and cash equivalents surging from 1.419 billion yuan to 7.354 billion yuan by September 30.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
