Unitree Robotics said in an updated first-quarter filing that adjusted net profit fell 52.5% year on year to 40.3 million yuan (US$5.94 million), even as revenue rose 68% to 422.8 million yuan (US$62.3 million).

The disclosure came days before the Shanghai Stock Exchange’s listing committee reviews its STAR Market initial public offering application on June 1.

The company plans to raise 4.2 billion yuan, or about US$619 million, for robot body development, embodied AI models, and manufacturing facilities.

Unitree said the profit drop reflected higher research and development (R&D) and sales spending, a larger revenue base after expansion, and rising competition in humanoid robots.

Humanoid robots led Unitree’s business in the first three quarters of 2025, contributing 51.53% of revenue, ahead of quadruped robots at 42.25%.

The June 1 hearing is a step in the STAR Market’s inquiry-based review process, in which the exchange examines disclosures, technology, and financial controls before later registration with the China Securities Regulatory Commission (CSRC).

Unitree also lowered robot prices as competition intensified.

The company identified UBTECH and Dobot among its listed rivals.

🔗 Source: South China Morning Post

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