Unitree Robotics profit plunges 53% ahead of crucial IPO hearing
Unitree Robotics, a Chinese humanoid robot maker, reported a 53% drop in adjusted first-quarter profit to 40.3 million yuan, despite a 68% revenue surge to 422.8 million yuan. The profit decline, disclosed in a regulatory filing days before a critical IPO hearing, is attributed to rising R&D and sales expenses amid fierce competition. Revenue grew year-on-year from 84.8 million yuan profit in the same period last year.
Key facts
- Adjusted profit fell 53% to 40.3 million yuan
- Revenue surged 68% to 422.8 million yuan
- Profit was 84.8 million yuan a year earlier
- Profit squeeze blamed on spike in R&D and sales expenses
- Filing released late Monday before crucial IPO hearing
- Company faces tough competition in humanoid robot sector
- Unitree Robotics is a Chinese company
- IPO hearing is imminent
Entities
Institutions
- Unitree Robotics
Locations
- China