Unitree: third-quarter revenue up 70% to 665 million yuan, net profit down 17.4%
Prepared by Sintelligent with the help of SI. Published in SI: . Updated: .
The market is testing humanoid robots on money: Unitree's revenue is growing fast, but spending on development eats into quarterly profit.
This is the first report from Unitree, China's best-known humanoid robot maker, since its listing (Reuters, as published by The Standard). Net profit attributable to shareholders was 112.7 million yuan against an analyst forecast of 224 million; research spending rose 249.6% to 127.0 million yuan (19.1% of revenue), going to embodied-intelligence models, computing and the team. Over nine months revenue was 1.82 billion yuan (+55.7%) and net profit 386.7 million (+270.5%); Unitree attributes the nine-month profit growth to higher gross profit and a large one-time share-based payment in the prior year. The shares have risen more than 65% in two weeks after falling almost 55% from their August debut.
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