Equity research
2026.07.05 19:35

China Daily: Humanoid Robots Enter Mass Production

> Consumer Models: Prices have plunged below historic thresholds. Unitree launched its R1 for 26,900 yuan (~$3,968), Booster Robotics introduced the K1 for 29,900 yuan (~$4,410), and Noetix Robotics broke the 10,000-yuan barrier with its Bumi robot at 9,998 yuan (~$1,475).

> Industrial Models: Industrial robots are now entering the under-100,000-yuan range, highlighted by Astribot’s T1 starting at 89,900 yuan (~$13,260).

> Rapid Cost Deflation: Unitree’s average selling price plummeted from roughly 593,000 yuan (~$87,460) in 2023 to 167,000 yuan (~$24,630) by late 2025. Similarly, Leju Robotics saw a nearly 26% year-on-year price drop for its Kuavo series in 2025 down to 308,100 yuan (~$45,440) per unit.

> Scaling Production: Increased shipment volumes allow companies to dilute R&D and production-line depreciation costs. Industry data platform GGII notes China’s shipments hit 14,400 units in 2025 and are projected to reach between 100,000 and 200,000 units in 2026.

> In-House & Domestic Manufacturing: Domestic suppliers have advanced in creating critical components like reducers and servo systems. Unitree, for example, develops over 90% of its core components in-house, cutting average production costs down from 73,200 yuan (~$10,800) in 2023 to 62,200 yuan (~$9,175) by late 2025.

> EV Supply Chain Synergy: Over half of humanoid robot components overlap with the Electric Vehicle (EV) and consumer electronics supply chains. This eliminates the need for massive new infrastructure investments.

> Automotive components manufacturers (like Shuanglin Group) are pivoting existing gear and motor technologies toward robotics (such as planetary roller screws). Concurrently, major automakers—including Tesla, Mercedes-Benz, Changan, SAIC, XPeng, and GAC—are actively entering the embodied intelligence sector through internal development, joint ventures, or incubation.v

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