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On October 28, Unitree Technology announced the joint establishment of the "Shanyu Innovation Program" with Sequoia China, focusing on investments in embodied intelligence, robotics applications, and core technologies across the upstream and downstream supply chain, and set out five principles: understanding technology and industry, discovering early, deciding quickly, valuing people, and not causing disruption. Unitree's previously launched Yuchuang Program received more than 200 projects in just over a month, and the company hopes to incubate more than 200 ecosystem enterprises over the next five years. Financial results disclosed the same day showed that revenue for the first three quarters was 1.817 billion yuan, up 55.71% year on year, and net profit attributable to shareholders was 387 million yuan, up 270.54% year on year, while net profit for the third quarter alone was 113 million yuan, down 17.37% year on year.
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Unitree Technology and Sequoia China Establish "Shanyu·Innovation Program"
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Oct 30
36Kr · AI
Unitree Technology and Sequoia China Establish Shanyu·Innovation Program, Entering Early-Stage Investment in Embodied Intelligence
Unitree Technology announced on October 28 the joint establishment of the Shanyu·Innovation Program with Sequoia China, focusing on investment in embodied intelligence, robotics applications, and upstream and downstream core technologies, and proposed five principles: understanding technology and industry, discovering early, deciding quickly, valuing people, and not causing disruption. Unitree's previously launched Yuchuang Program received more than 200 projects in just over a month, and the company hopes to incubate more than 200 ecosystem enterprises over the next five years. Financial results disclosed the same day show that revenue for the first three quarters was 1.817 billion yuan, up 55.71% year on year; net profit attributable to shareholders was 387 million yuan, up 270.54% year on year; and net profit for the third quarter alone was 113 million yuan, down 17.37% year on year.
Leiphone
Unitree Technology's First Quarterly Report After Going Public: Revenue of 1.817 Billion Yuan, Non-Recurring Profit Down 18.8%
In the first three quarters of 2026, Unitree Technology's revenue reached 1.817 billion yuan, up 55.7% year-on-year and already exceeding its full-year 2025 revenue of 1.699 billion yuan, but its gross margin fell from 60.4% in 2025 to 54.0%, and non-recurring net profit attributable to parent-company shareholders was 349 million yuan, down about 18.8% year-on-year. R&D expenses reached 263 million yuan in the first three quarters, up 191.5% year-on-year, and the R&D expense ratio rose from 8.8%–9% to 14.47%, with the increase mainly directed toward embodied large-model R&D and computing power. The company listed on the STAR Market on August 19, 2026, at an issue price of 150.80 yuan; its share price once surged to 1,100 yuan before pulling back more than 60%, and recovered to around 670 yuan around the time of the quarterly report.
Intelligent Manufacturing Network
Unitree Technology and Sequoia China Establish "ShanYu·Innovation Program" to Invest in Early-Stage Embodied Intelligence Projects
Unitree Technology has partnered with Sequoia China to establish the "ShanYu·Innovation Program," focused on discovering and investing in early-stage startups in fields such as embodied intelligence, robotics applications, and key upstream and downstream technologies. The program combines Unitree's engineering capabilities with Sequoia's investment capabilities, implements an "engineer + investor" methodology, and places special emphasis on young teams. Wang Xingxing, founder and CEO of Unitree Technology, said that Sequoia has been one of Unitree's earliest and most important supporters since 2019.
Oct 29
X.PIN
Unitree Releases First Post-IPO Q3 Earnings: Revenue $99.7 Million, R&D Spending Up 250% YoY
Unitree Robotics announced its first post-IPO Q3 earnings: revenue of $99.7 million, up 70% year-over-year; Q3 R&D spending rose 250% year-over-year, mainly directed toward embodied intelligence foundation models and computing infrastructure. The company also partnered with early investor HSG (formerly Sequoia China) to launch the "ShanYu" program to incubate early-stage robotics developers. X.PIN believes that Unitree is shifting from hardware performance toward foundational software and ecosystem building.
The Paper
Sequoia China and Unitree Robotics Launch the "ShanYu·Create Program" to Discover Early-Stage Embodied Intelligence Projects
Sequoia China has partnered with Unitree Robotics to establish the "ShanYu·Create Program," focused on discovering and investing in early-stage startups in embodied intelligence, robotics applications and their upstream and downstream key technologies, and other frontier hard-tech fields. The program's core strategy is to "understand technology and industry, discover early, decide fast, value people, and not add chaos," providing young teams with industry and funding resources to support them in building scalable products starting from an idea, code, or prototype.
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