Unitree 2025 gross margin 60.44%, humanoid ASP down 72% in two years: what are the key facts?

Unitree Technology's 2025 revenue was 1.699 billion yuan, with a consolidated gross margin of 60.44%, 16 percentage points above the average of four peers.

Unitree 2025 gross margin 60.44%, humanoid ASP down 72% in two years: what are the key facts?

In 2025, Unitree sold 5,215 humanoid robots at an average price of 166,400 yuan, down about 72% from 2023.

Unitree 2025 gross margin 60.44%, humanoid ASP down 72% in two years: what are the key facts?

Unitree's quadruped robot average price fell from 38,300 yuan in 2023 to 30,300 yuan in 2025, while its gross margin rose to 56.72%.

Unitree 2025 gross margin 60.44%, humanoid ASP down 72% in two years: what are the key facts?

Unitree's per-unit cost for humanoid robots in 2025 was about 61,300 yuan, with per-unit gross profit of about 105,100 yuan.

Unitree 2025 gross margin 60.44%, humanoid ASP down 72% in two years: what are the key facts?

In the first three quarters of 2025, scientific research and education accounted for 73.60% of Unitree's humanoid robot revenue, while industry applications accounted for only 9.01%.

Physix Frontier · News Briefing Card (enbrief · Oct 24, 2026)

Unitree 2025 gross margin 60.44%, humanoid ASP down 72% in two years

KEY FACTS

Unitree Technology's 2025 revenue was 1.699 billion yuan, with a consolidated gross margin of 60.44%, 16 percentage points above the average of four peers.
In 2025, Unitree sold 5,215 humanoid robots at an average price of 166,400 yuan, down about 72% from 2023.
Unitree's quadruped robot average price fell from 38,300 yuan in 2023 to 30,300 yuan in 2025, while its gross margin rose to 56.72%.
Unitree's per-unit cost for humanoid robots in 2025 was about 61,300 yuan, with per-unit gross profit of about 105,100 yuan.
In the first three quarters of 2025, scientific research and education accounted for 73.60% of Unitree's humanoid robot revenue, while industry applications accounted for only 9.01%.

KEY DATA

60.44%2025 consolidated gross margin

5,215 units2025 humanoid robot sales

166,400 yuan2025 humanoid robot average price

278 million yuan2025 net profit

PHYSIX OBSERVATION

Unitree's high gross margin rests on scientific research and education customers and product mix, not on scaled validation in industrial scenarios. The average humanoid robot price fell 70% in two years while gross margin still held above 60%, relying on simultaneous cost reductions and sales volume dilution. But once the price war enters a phase of price cuts on identical specs, a 40% price reduction would drop gross margin to UBTech's level. The real test is not hardware cost reduction, but whether after-sales, software, and services can become a second growth curve.

Source: enbrief original report ↗