Leading Chinese robotics company Unitree Robotics on Wednesday reported a 69.93 per cent year-on-year increase in quarterly revenue to 665 million yuan (US$99.7 million), though net profits excluding non-recurring items fell 17.42 per cent to 105 million yuan, as the company released its first earnings since going public.
The results for the three months ending September 30 showed a continued surge in research and development spending by the Hangzhou-based company, which jumped 249.58 per cent year-on-year to 127.04 million yuan, or around 19 per cent of revenue, as it ramps up investments in the software “brains” of its industry-leading robotic bodies.
According to the filing with the Shanghai Stock Exchange, Unitree Robotics posted a net profit attributable to shareholders of 387 million yuan, a 270.54 per cent jump, for the first three quarters of the year.
