Unitree Robotics Statistics 2026
By Axis Intelligence Research
Co-author: Liam Michael | Last updated: August 27, 2026 | License: CC BY 4.0
Unitree Robotics shipped more than 5,500 humanoid robots in 2025 and booked 1.699 billion yuan in revenue, per its Shanghai Stock Exchange prospectus. On August 19, 2026 it listed on the STAR Market under code 688836 and closed its first session at 845 yuan, up 460% from a 150.80 yuan offer price.
Quick Answer
Unitree Robotics is the first pure-play humanoid robot maker on a mainland Chinese exchange. Its 2025 revenue was 1.699 billion yuan with a 60.13% gross margin on core businesses, and humanoids reached 51.78% of revenue that year, up from 1.88% in 2023. Axis Intelligence Research calculates a Realized Price per Humanoid (RPH) of 157,818 yuan (about $23,380) for 2025 — roughly 1.7× the $13,500 list price of the flagship G1, which tells you the shipped mix is not consumer units. At the August 26, 2026 close of 591.59 yuan, Axis Intelligence Research puts the Humanoid Unit Valuation (HUV) at $6.45 million of market capitalization for every humanoid Unitree shipped in 2025.
Key Findings
- According to Unitree’s STAR Market prospectus, the company shipped more than 5,500 humanoid robots in 2025, ranking first globally by unit volume.
- Unitree posted 1.699 billion yuan of 2025 revenue and 590 million yuan of net profit attributable to shareholders excluding non-recurring items, per a company statement carried by the Shanghai Stock Exchange on August 6, 2026.
- Axis Intelligence Research finds that Unitree’s 2025 Realized Price per Humanoid was 157,818 yuan — 73% above the $13,500 list price of its best-known humanoid, the G1.
- Axis Intelligence Research back-solves Unitree’s unpublished first-half 2025 revenue at approximately 775.7 million yuan, from the two ends of its own 2026 guidance range.
- The FCC added all foreign-produced advanced robotic devices to its Covered List on July 28, 2026 under Public Notice DA 26-786, blocking new models from the equipment authorization required to import, market or sell them in the United States.
What Are Unitree’s Latest Revenue and Profit Numbers?
Unitree Technology — registered as Yushu Technology Co., Ltd., trading as Unitree Robotics — published its offering documents through the Shanghai Stock Exchange ahead of pricing. The headline financials:
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | 1.699 billion yuan | FY2025 | Unitree company statement via SSE |
| Net profit attributable, ex-non-recurring | 590 million yuan | FY2025 | Unitree company statement via SSE |
| Gross margin, core businesses | 60.13% | FY2025 | Unitree company statement via SSE |
| Humanoid segment revenue | 868 million yuan | FY2025 | Unitree company statement via SSE |
| Humanoid share of revenue | 51.78% | FY2025 | Unitree company statement via SSE |
| Revenue guidance | 1.052–1.128 billion yuan | H1 2026 | Unitree prospectus via SSE |
| Revenue growth guidance | 35.62%–45.41% | H1 2026 vs H1 2025 | Unitree prospectus via SSE |
| Net profit guidance | 258–306 million yuan | H1 2026 | Unitree prospectus via SSE |
One arithmetic note that matters for anyone citing these numbers. The 868 million yuan humanoid figure is 51.09% of 1.699 billion, not 51.78%. Dividing 868 million by 0.5178 implies a denominator of about 1.676 billion yuan — consistent with a “core business” or “main operating” revenue line that excludes some other income. Both figures are as-disclosed; Axis Intelligence Research publishes them side by side rather than silently picking one, because a citation that quietly reconciles a company’s own two numbers is a citation that breaks the first time somebody checks it.
The revenue mix flipped in two years
| Segment | 2023 share of revenue | 2025 share of revenue | Source |
|---|---|---|---|
| Quadruped robots | 75.78% | Not separately disclosed for 2025 | Unitree via SSE |
| Humanoid robots | 1.88% | 51.78% | Unitree via SSE |
A 49.9-percentage-point swing in a product mix over two years is not a product cycle. It is a company changing what it sells while the factory keeps running.
Liam Michael, robotics: The quadruped installed base is what makes the humanoid line credible. Cumulative quadruped sales passed 33,000 units, and every one of those is a shipped, powered, serviced legged platform with actuators, a controller stack and a customer who took delivery. Most humanoid entrants are arguing from a demo reel. Unitree is arguing from a shipping history — which is a different kind of claim, and a harder one to fake.
Source: Axis Intelligence Research — CC BY 4.0
How Many Robots Has Unitree Actually Shipped?
| Metric | Units | As of | Source |
|---|---|---|---|
| Humanoid robots shipped | 5,500+ | FY2025 | Unitree prospectus via SSE |
| Quadruped robots, cumulative sales | 33,000+ | FY2025 | Unitree prospectus via SSE |
| Overseas share of revenue | Consistently above 40% | FY2025 | Unitree prospectus via SSE |
Global context, for scale: the International Federation of Robotics counted 542,000 industrial robot installations worldwide in 2024, of which China took 295,000 units — 54% of global deployments, and the highest annual national total on record. IFR also notes that Chinese manufacturers outsold foreign suppliers at home for the first time, taking 57% domestic share. Humanoids are not counted in that industrial series. That is the point worth holding onto: Unitree’s 5,500 humanoids sit alongside a Chinese industrial installed base that IFR puts above two million units. The humanoid category is, in installed-base terms, a rounding error inside the world’s largest robotics market.
A calculation Axis Intelligence Research will not publish
Several outlets have attached a global humanoid market share to Unitree’s 5,500 units — figures circulating range from roughly a fifth to roughly a third. Dividing 5,500 by either share yields a wildly different implied global humanoid shipment total, and neither share figure carries a disclosed methodology or a defined universe of counted vendors. Axis Intelligence Research therefore does not publish an implied 2025 global humanoid shipment estimate. The inputs are incompatible; the output would be a number with our name on it and nothing underneath it.
What Does a Unitree Robot Cost in 2026?
Prices below were read directly from Unitree’s own storefront on August 27, 2026.
| Model | Type | List price (USD) | Note | Source |
|---|---|---|---|---|
| Unitree R1-D | Humanoid | From $4,290 | Entry humanoid | shop.unitree.com |
| Unitree R1 | Humanoid | From $4,900 | shop.unitree.com | |
| Unitree G1 | Humanoid | $13,500 | Base unit, no secondary development | shop.unitree.com |
| Unitree H2 | Humanoid | $29,900 | shop.unitree.com | |
| Unitree Go2 | Quadruped | From $1,600 | shop.unitree.com | |
| Unitree As2 | Quadruped | From $3,100 | shop.unitree.com | |
| Unitree Z1 | Robot arm | $15,999 | shop.unitree.com | |
| Unitree Aliengo | Quadruped | $50,000 | shop.unitree.com | |
| Unitree H1 | Humanoid | Quote only | Listed at $90,000 with “contact us for the real price” | shop.unitree.com |
| Unitree B1 / B2 / B2-W / A2 / H2 Plus | Quadruped and humanoid | Quote only | All listed at exactly $100,000 | shop.unitree.com |
Five separate products carrying the identical $100,000 figure is not five products that cost $100,000. It is a placeholder on quote-only SKUs, and the H1 listing says so in its own product title. Anyone scraping this storefront for a price table — and plenty of published price tables appear to have done exactly that — is importing five fabricated data points. Axis Intelligence Research marks those rows NA in the dataset rather than carrying the placeholder through.
Liam Michael: The interesting number on this page isn’t the top of the ladder, it’s the bottom. An R1-D at $4,290 puts a bipedal platform inside a university department’s discretionary budget without a procurement cycle. That is how installed bases start — not with a Fortune 500 pilot, but with four hundred labs that didn’t have to ask anyone’s permission.
The Axis Metrics: RPH and HUV
Two proprietary figures anchor this dataset. Both are computed from sourced inputs only, and both formulas are stated here so anyone can recompute them.
RPH — Realized Price per Humanoid
Formula: humanoid segment revenue ÷ humanoid units shipped, same fiscal year.
Inputs: 868,000,000 yuan (Unitree, FY2025, via SSE) ÷ 5,500 units (Unitree prospectus, FY2025).
Reading, FY2025: 157,818 yuan per humanoid — approximately $23,380 at the 6.75 CNY/USD rate implied by contemporaneous reporting of the same 6.1 billion yuan offering as $904 million.
Because 5,500 is a floor (“more than 5,500”), RPH is a ceiling: the true realized price is 157,818 yuan or lower. Even as a ceiling it is 1.73× the G1’s $13,500 list price. Set those two numbers next to each other and the shipped mix resolves itself. Unitree did not sell 5,500 consumer G1s in 2025. It sold a mix weighted toward development editions and H-class machines — the units that carry quote-only pricing and land in research groups, integrators and corporate labs rather than living rooms.
HUV — Humanoid Unit Valuation
Formula: market capitalization ÷ trailing-year humanoid units shipped.
Inputs: 404,464,340 shares outstanding post-offering (Unitree prospectus via SSE) × share price at the stated snapshot ÷ 5,500 units.
| Snapshot | Share price (CNY) | Market cap (CNY bn) | HUV (USD per robot shipped) |
|---|---|---|---|
| IPO price, Aug 6, 2026 | 150.80 | 60.99 | $1.64M |
| Debut open, Aug 19, 2026 | 1,100.00 | 444.91 | $11.98M |
| Debut close, Aug 19, 2026 | 845.00 | 341.77 | $9.21M |
| Snapshot close, Aug 26, 2026 | 591.59 | 239.28 | $6.45M |
HUV as of August 26, 2026: $6.45 million per humanoid shipped in 2025. Dividing HUV by RPH gives a multiple of 276× — the market is paying 276 yuan of capitalization for each yuan of humanoid revenue Unitree actually realized last year.
Snapshot-dated, as every reading here is. The August 26 close comes from market data, not from a company filing, and is flagged accordingly in the dataset.
Liam Michael: I have spent a decade watching robotics companies get priced on what the demo implied rather than what the loading dock recorded. HUV is my attempt to keep both numbers in the same sentence. Six and a half million dollars of market value per shipped humanoid is not a verdict — Unitree is profitable, which almost nobody in this category is, and 5,500 units is a real denominator rather than a projected one. But it is a denominator that has to roughly quintuple before the multiple looks like a hardware multiple. Show me the purchase orders and I’ll move the number.
What Happened in Unitree’s IPO?
| Event | Date | Detail | Source |
|---|---|---|---|
| CSRC registration approved | July 2, 2026 | Cleared path to A-share listing | Unitree via SSE |
| Prospectus and issuance plan published | July 30, 2026 | Sponsor and lead underwriter: CITIC Securities | Unitree via SSE |
| Preliminary pricing inquiry | Aug 5, 2026 | Unitree via SSE | |
| Offer price set | Aug 6, 2026 | 150.80 yuan per share | SSE / market reporting |
| Subscription window opens | Aug 10, 2026 | Unitree via SSE | |
| Listing, code 688836 | Aug 19, 2026 | Opened 1,100 yuan, closed 845 yuan | Market reporting |
Unitree issued about 40.45 million new shares, 10% of enlarged capital of 404.5 million shares, entirely new stock with no secondary sale. Proceeds were earmarked in four buckets: 2.022 billion yuan for intelligent robot model R&D, 1.11 billion yuan for robot body development, 445 million yuan for new product R&D, and 624 million yuan for a manufacturing base.
Nearly half the raise goes to models rather than machines. For a company whose public identity is hardware — backflips, kung fu demos, robot dogs at trade shows — that allocation is the single most informative line in the prospectus.
The number the company did not publish
Unitree guided first-half 2026 revenue to 1.052–1.128 billion yuan, representing growth of 35.62%–45.41%. It did not disclose the first-half 2025 base. Axis Intelligence Research back-solves it from both ends of the guidance:
- 1,052 ÷ 1.3562 = 775.70 million yuan
- 1,128 ÷ 1.4541 = 775.74 million yuan
Both ends converge on approximately 775.7 million yuan for H1 2025 — a four-hundred-thousand-yuan spread across a range the company presented as wide. Subtracting from full-year 2025 revenue of 1.699 billion yuan gives an implied H2 2025 of roughly 923.3 million yuan, meaning Unitree’s second half ran about 19% ahead of its first. At the 1.09 billion yuan guidance midpoint, H1 2026 alone equals 64% of all of 2025.
This is a derived estimate, not a company disclosure, and it is labeled as such throughout the dataset.
How Does the FCC Covered List Affect Unitree in the United States?
On July 28, 2026 the FCC’s Public Safety and Homeland Security Bureau released Public Notice DA 26-786, adding to the Covered List: “Foreign-produced advanced robotic devices, except advanced robotic devices which have been granted a Conditional Approval by DoW.”
The mechanics, straight from the notice:
- The Commission did not initiate this. A White House-convened Executive Branch interagency body transmitted two National Security Determinations on July 27, 2026; the FCC implemented them the next day. Under the Secure and Trusted Communications Networks Act of 2019, the Commission places equipment on the list when directed.
- Under 47 CFR § 2.903(a), covered equipment is prohibited from receiving equipment authorizations — the clearance most devices need before import, marketing or sale in the US.
- Under 47 CFR § 2.911(d)(5)(i), every authorization applicant must certify its equipment is not covered.
- The listing is keyed to place of production, not company identity. The FCC states explicitly that these updates do not implicate rules applicable to entities identified on the list, “because this newly-covered equipment is identified by place of production, not by entity.”
- The Department of War can issue Conditional Approvals exempting a device or class of devices.
Unitree is not named anywhere in the notice. Nor is any company. That distinction gets flattened in most coverage into “the US banned Unitree,” which the document does not say. What it does is close the door on new authorizations for foreign-produced mobile robots — which, for a company whose product cadence runs R1 to G1 to H2 to H2 Plus inside two years, is a constraint on the roadmap rather than on the catalogue.
Overseas revenue has consistently exceeded 40% of Unitree’s total. That is the exposure line. The US is one slice of it, and the size of that slice is not separately disclosed in the materials Axis Intelligence Research reviewed.
Liam Michael: Covered List entries are where robotics stops being an engineering story. The uncomfortable part for a manufacturer is not the listing — it is § 2.932 and § 2.1043, the permissive-change rules, which govern whether an already-authorized machine can legally receive a firmware update. A robot you cannot patch is a robot with an expiry date, and it depreciates on a regulatory calendar rather than a mechanical one.
Methodology
Collection. Every figure in this article was read from a document fetched during production between August 26 and August 27, 2026. Company financials, shipment counts, guidance and offering terms come from Unitree disclosures published or carried by the Shanghai Stock Exchange. Product prices were read directly from Unitree’s own storefront on August 27, 2026. Regulatory language and rule citations come from the text of FCC Public Notice DA 26-786. Robotics market context comes from the International Federation of Robotics World Robotics 2025 press materials. Share prices and market capitalizations at the snapshot dates come from market data and are flagged as non-primary in the dataset.
Formulas.
- RPH (Realized Price per Humanoid) = humanoid segment revenue ÷ humanoid units shipped. FY2025: 868,000,000 ÷ 5,500 = 157,818 yuan.
- HUV (Humanoid Unit Valuation) = (shares outstanding × share price) ÷ trailing-year humanoid units shipped. Aug 26, 2026: (404,464,340 × 591.59) ÷ 5,500 = 43,504,920 yuan = $6.45M.
- HUV/RPH multiple = 43,504,920 ÷ 157,818 = 276×.
- Implied H1 2025 revenue = guidance low ÷ (1 + growth low) and guidance high ÷ (1 + growth high), both from Unitree’s own H1 2026 guidance.
Currency. Yuan-to-dollar conversions use 6.75 CNY/USD, the rate implied by contemporaneous reporting of Unitree’s 6.1 billion yuan offering as approximately $904 million. Yuan values are the source-of-record figures; dollar values are conversions.
Scope notes. Shipment figures are disclosed as minimums (“more than 5,500”), which makes RPH a ceiling and HUV a floor. Quadruped unit economics cannot be computed from available disclosures because the 33,000-unit figure is cumulative while revenue is annual — that calculation is omitted rather than approximated. Humanoid market share and any figure derived from it are excluded for the reason given above.
About This Dataset
unitree-robotics-statistics-2026.csv contains every quantitative claim in this article as a row, with full provenance: metric, value, unit, as-of date, segment, source organization, source document, source URL, retrieval date, primary-source flag, Axis-calculated flag, and a method note for every derived row.
License: CC BY 4.0. Free to use, republish and redistribute with attribution.
Citation: Axis Intelligence Research, Unitree Robotics Statistics 2026, 2026.
Citation formats
APA — Axis Intelligence Research. (2026). Unitree Robotics statistics 2026: Shipments, revenue, pricing and public-market valuation. https://axis-intelligence.com/unitree-robotics-statistics/
MLA — Axis Intelligence Research. “Unitree Robotics Statistics 2026: Shipments, Revenue, Pricing and Public-Market Valuation.” Axis Intelligence Research, 27 Aug. 2026, axis-intelligence.com/unitree-robotics-statistics/.
Chicago — Axis Intelligence Research. “Unitree Robotics Statistics 2026: Shipments, Revenue, Pricing and Public-Market Valuation.” Axis Intelligence Research. August 27, 2026. https://axis-intelligence.com/unitree-robotics-statistics/.
FAQ
What is Unitree’s stock code and where does it trade?
Unitree trades as 688836 on the Shanghai Stock Exchange’s STAR Market, listed August 19, 2026. The registered issuer name is Yushu Technology Co., Ltd. STAR Market access is generally limited to mainland investors, qualified foreign institutional investors and Stock Connect-eligible accounts, and a newly listed stock is not automatically Stock Connect-eligible.
How many humanoid robots did Unitree ship, and does that make it the largest producer?
More than 5,500 in 2025, which the prospectus states ranks first globally by unit volume. Unit leadership in a category this young is a statement about shipping cadence, not about deployed working hours — the published figure counts units delivered, not units performing paid labour.
Why is Unitree’s realized price per humanoid higher than the G1’s list price?
Because the shipped mix is not consumer units. RPH of 157,818 yuan (about $23,380) against a $13,500 G1 list price implies substantial volume in development editions and H-class machines, which carry quote-only pricing. The base G1 is explicitly sold without secondary development support; anyone writing code buys a different, more expensive tier.
Does the FCC Covered List action ban Unitree robots in the United States?
The July 28, 2026 notice does not name Unitree or any company. It bars foreign-produced advanced robotic devices from receiving FCC equipment authorization absent a Department of War Conditional Approval, keyed to place of production. Equipment that already holds an authorization is not addressed by this listing; the constraint falls on new models seeking authorization.
Can Unitree’s quadruped economics be calculated the same way as RPH?
No, and Axis Intelligence Research does not attempt it. The 33,000-plus quadruped figure is cumulative sales across multiple years, while revenue is disclosed annually. Dividing one by the other produces a number with no defensible meaning.
What does the 276× HUV/RPH multiple actually mean?
It is the ratio of market capitalization per humanoid shipped to revenue realized per humanoid shipped, as of August 26, 2026. Read it as a unit-level valuation multiple: the market is capitalizing each 2025 humanoid at 276 times the revenue that robot generated. It moves with the share price daily, which is why every reading carries a snapshot date.
How much of Unitree’s business is outside China?
Overseas revenue has consistently exceeded 40% of total, per the prospectus. The disclosures reviewed here do not break that figure down by country, so the specific US exposure inside that 40% is not publicly quantified.
What is Unitree spending its IPO proceeds on?
The four disclosed allocations are 2.022 billion yuan for intelligent robot model R&D, 1.11 billion yuan for robot body development, 445 million yuan for new intelligent robot product R&D, and 624 million yuan for a manufacturing base. Model R&D takes nearly half.
How reliable is the 5,500 shipment figure for building further calculations?
It is a disclosed minimum, not a point estimate. Any per-unit metric built on it inherits that: RPH is a ceiling, HUV is a floor. Both are stated that way here so downstream users do not treat them as exact.
What would change these numbers fastest?
Unitree’s first interim report as a listed company, which will replace guidance ranges with actuals and may disclose a 2026 humanoid unit count. After that, a Department of War Conditional Approval decision, which would materially change the US access picture for new models.