2025 Revenue Forecast and Gross Profit Margin Analysis of Deep Robotics

Deep Robotics was founded in 2017 and is a national high-tech enterprise focusing on the R&D, production and sales of quadruped robots, humanoid robots and core components, with its headquarters in Hangzhou. The company’s founding team comes from Zhejiang University, and its founder is Professor Zhu Qiuguo. As one of the “Six Dragons of Hangzhou”, the company officially launched IPO guidance in December 2025, with CITIC Construction Investment Securities serving as the guidance institution [1].

According to market analysis, Deep Robotics’ 2025 revenue is forecasted to reach RMB 500-600 million. The main basis for the forecast is as follows:

1. Historical Growth Trend
   : Founder Zhu Qiuguo revealed that the company’s 2024 revenue more than doubled compared with 2023 [1]

2. Shipment Plan
   : According to the company’s plan, robot shipments will reach the 10,000-unit level in 2025 [1]

3. Product Pricing Range
   : Combined with the average price range of tens of thousands of RMB for quadruped robots, market analysis expects its 2025 revenue to reach RMB 500-600 million [1]

4. Comparative Reference
   : Unitree Robotics, a competitor in the same industry, achieved revenue of RMB 1 billion in 2024, of which quadruped robot revenue accounted for approximately RMB 650 million. Deep Robotics ranks second in the industry with an 18.9% global market share in quadruped robot sales [1]

:

Deep Robotics is still a private company and has not been listed yet, so

[2][3]. Information such as “57% gross profit margin” circulating in the market actually comes from another company, Cloudwalk Technology (one of the “Four AI Dragons”), not Deep Robotics.

Based on existing information, reasonable inferences about Deep Robotics’ gross profit margin level are as follows:

1. Product Structure
   : The company’s products cover the Jueying series of quadruped robots, the Shanmao M20 wheel-legged robot, and the DR01/DR02 humanoid robots, targeting B-end industry applications such as power inspection, security patrol, and warehousing and logistics

2. Industry Reference
   : Unitree Robotics, a similar robot company, has achieved five consecutive years of profitability (2020-2024), indicating that industrial-grade quadruped robot products have certain profit margins [1]

3. Technological Barriers
   : Deep Robotics has built a full-link technology system of “Perception-Decision-Execution” with a high self-development rate of core components, which is conducive to cost control and gross profit margin improvement

:

• Strong technical strength, with profound technical accumulation from quadruped to humanoid robots [2]
• Accurate positioning in B-end industry applications, with clear commercialization paths
• Sufficient capital support, completed three rounds of financing in 2025 with a total financing amount exceeding RMB 1 billion within the year [3]
• Stable market position, ranking second with an 18.9% global market share in quadruped robots

:

• As an unlisted company, financial transparency is limited
• The humanoid robot industry is still in the early stage of commercialization
• Facing fierce competition from international giants such as Tesla and Boston Dynamics, as well as domestic competitors such as Unitree Robotics [1][2]

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[1] Sina Finance - “Deep Robotics, Second Only to Unitree Robotics, Will Also Launch IPO” (https://finance.sina.com.cn/jjxw/2026-01-06/doc-inhfiznp1314763.shtml)

[2] Guandian.cn - “Deep Robotics Completes Hundreds of Millions of RMB Pre-IPO Financing After Launching IPO Guidance” (https://www.guandian.cn/m/show/535023)

[3] Securities Times - “Deep Robotics Completes Pre-IPO Financing Round” (https://www.stcn.com/article/detail/3558169.html)