[News] China’s Unitree Robotics Reportedly Posts 52% YoY Q1 Profit Slump Ahead of 4.2 Billion Yuan IPO Review

China’s humanoid robotics company Unitree Robotics is moving closer to its IPO, though profitability pressures appear to be emerging despite strong revenue growth. According to South China Morning Post, the company reported a sharp decline in first-quarter profits just days ahead of its crucial listing hearing. While first-quarter revenue surged more than 68% year over year to 422.8 million yuan, adjusted net profit excluding non-recurring items plunged over 52% to 40.3 million yuan, down from 84.8 million yuan a year earlier.

As the report notes, the Shanghai Stock Exchange’s listing committee is scheduled to review the company’s application on June 1. The company is seeking to raise 4.2 billion yuan (US$618.9 million) through the offering.

Unitree attributed the profit pressure to surging R&D and sales expenses, alongside slowing momentum in the broader humanoid robotics hype cycle and a higher comparison base following explosive growth in 2025.

Meanwhile, Unitree remains optimistic about growth despite near-term pressure on profitability. According to the report, the company expects first-half revenue to increase 35.6% to 45.4% year over year, reaching between 1.05 billion yuan and 1.13 billion yuan, while the decline in first-half profits is projected to narrow to between 6.4% and 22%.

Profitable, but Still Reliant on Research Demand

Still, according to STAR Market Daily, Unitree remains one of the few humanoid robotics companies to achieve profitability at scale. By comparison, Hong Kong-listed UBTECH Robotics reported 2025 revenue of 2.001 billion yuan but still posted a net loss attributable to shareholders of 703 million yuan.

However, STAR Market Daily, citing Unitree’s filings, notes that revenue from its general-purpose robots is still largely driven by research and education customers. The segment accounted for 86.3% of humanoid robot revenue in 2024 and 73.6% in the first three quarters of 2025, suggesting Unitree’s profitability remains more dependent on institutional procurement than commercial demand.

Growing Competition and IP Risks Emerge

In its updated filing, Unitree flagged intensifying competitive risks. According to the South China Morning Post, the company cited Tesla’s Optimus project and the entry of Chinese automakers and consumer electronics firms into humanoid robotics as factors that could pressure pricing, market share, and profitability.

The company also disclosed that its patent portfolio remains relatively limited, as it has historically prioritized protecting technical know-how through confidentiality rather than patents. According to South China Morning Post, as of January 31, Unitree held 262 registered patents in China and overseas, including 20 domestic invention patents, a level the company said may constrain its ability to safeguard core technologies through intellectual property protections.

Read more

• China’s Humanoid Robot Output to Surge 94% in 2026; Unitree and AgiBot to Capture Nearly 80% Market Share, Says TrendForce
• [News] China’s Leading Robotics Firm Unitree Reportedly Files for IPO; Seeks to Raise ~4.2B Yuan

(Photo credit: Unitree on X)