Unitree Robotics reported third-quarter revenue of RMB 665 million, up 70% from a year earlier, in its first quarterly results since listing on Shanghai’s STAR Market, Reuters reported on October 28, 2026. Net profit attributable to shareholders fell 17.4% to RMB 112.7 million, against an analyst forecast of RMB 224 million. Research and development spending rose 249.6% to RMB 127.0 million, or 19.1% of revenue.
Why it matters: Unitree is the first humanoid pure-play in China to report as a listed company. Its numbers set a reference for the robot makers queued behind it.
Key Facts
- Q3 2026 revenue: RMB 665M, +70% YoY (filed with the Shanghai Stock Exchange, Oct 28)
- Q3 net profit: RMB 112.7M, −17.4%; consensus was RMB 224M (Reuters)
- Q3 R&D: RMB 127.0M, +249.6%, 19.1% of revenue
- 9M 2026: revenue RMB 1.82bn (+55.7%); net profit RMB 386.7M (+270.5%)
How did the first nine months look?
Revenue for January–September was RMB 1.82 billion, up 55.7%. Net profit was RMB 386.7 million, up 270.5%; the company attributed the jump to higher gross profit and a large one-off share-based payment charge in the prior-year period. Global Times reported nine-month profit excluding one-off items of RMB 349 million, down 18.78%.
How has the stock traded?
Unitree listed on August 19 (our IPO report). The shares fell almost 55% from their debut before rising more than 65% in the two weeks to October 28, according to Reuters. Unitree issued an abnormal-trading notice on October 21 warning of valuation risk. Global Times put the October 28 close at RMB 695.90 and the market value at RMB 281.5 billion. The STAR50 index has fallen 40% since July.
Our earlier coverage of the post-IPO slide and Unitree’s 2028 AI roadmap sets out where the R&D money is going.
Frequently Asked
How much revenue did Unitree make in Q3 2026?
RMB 665 million, up 70% year on year, according to results filed on October 28, 2026.
Why did Unitree’s profit fall?
Q3 net profit fell 17.4% to RMB 112.7 million as research and development spending rose 249.6% to RMB 127.0 million.
When did Unitree go public?
Unitree listed on the Shanghai STAR Market on August 19, 2026.