---
title: "Positioning in the household robot track, Cheetah Mobile's long-term growth logic is clear"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289188376.md"
description: "Cheetah Mobile focuses on the home robotics sector, avoiding complex humanoid robots and shifting towards practical directions such as autonomous navigation, voice interaction, and lightweight robotic arms. The company is transforming from a traditional internet tool provider to a robotics platform, relying on existing profits and cash flow to support its valuation. With the financial report released on June 10, the market will validate the resilience of its internet business, the growth pace of its robotics segment, and the realization of its transformation logic"
datetime: "2026-06-09T12:19:08.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289188376.md)
  - [en](https://longbridge.com/en/news/289188376.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289188376.md)
---

# Positioning in the household robot track, Cheetah Mobile's long-term growth logic is clear

In the past two years, AI has become the most important investment theme in the global capital market. From large models, computing power, optical modules to AI applications, the market continues to seek opportunities around the "AI productivity revolution." However, if large models and computing power address the intelligence of the digital world, then robots are an important carrier for AI to enter the physical world.

After experiencing initial enthusiasm and adjustments, the robotics sector has instead presented a more cost-effective strategic allocation window. In the short term, the upcoming IPO of Yushu Technology and investments from industrial capital will continue to enhance the sector's attention; in the medium term, the industry's pricing focus will shift from conceptual interpretation to verification of orders, revenue, and profits.

This aligns with the current trading style of the AI industry chain: funds are no longer only looking at imaginative potential but are placing greater emphasis on profit and cash flow certainty. Mapped to the robotics sector, the next phase is likely to attract attention not just from the most dazzling humanoid bipedal robots, but from companies that have already run through real scenarios, achieved revenue growth, and have a solid profit foundation.

Cheetah Mobile (CMCM.US) is a target worth re-evaluating under this logic: it is not merely a robot company that talks about concepts, nor is it just a traditional internet tool company, but a low-valuation enterprise that already has a profit base, cash flow support, and is transitioning towards a robotics platform.

As the company is set to announce its latest financial report tomorrow, June 10, the market will have the opportunity to further verify the profitability resilience of its internet business, the growth pace of its robotics business, and whether the transformation logic is continuing to materialize.

**1\. Cheetah is not a traditional internet company, but an emerging robotics platform company**

Understanding Cheetah Mobile is key in not viewing it as a traditional internet company, but rather focusing on its developing robotics platform capabilities.

In the past, Cheetah was best known in the market for its tool software and overseas internet traffic; however, after years of transformation, the company has gradually shifted its business focus towards AI and robotics. Today, the internet business plays more of a role as a profit cornerstone and cash flow source, rather than being the core factor determining the company's valuation ceiling.

From a financial performance perspective, this shift has already shown initial results. By 2025, the internet business will further transition from a traditional advertising model to subscriptions and value-added services, with user-paid revenue accounting for 65% of the total revenue in that sector, enhancing performance stability, which helps the company provide clearer and more predictable performance guidance At the same time, the company achieved an operating profit of over 100 million RMB during the period, indicating that it has become a stable source of cash flow during the company's transformation. This means that Cheetah can rely on its own cash flow to advance its investments in AI and robotics. Additionally, with over 200 million USD in net cash on its balance sheet, it has a more ample safety margin when expanding its robotics business, channel layout, and product iteration.

Furthermore, **AI and other businesses have grown into new growth engines, with their revenue share continuously increasing, approaching 50% by the fourth quarter of 2025. Among them, the robotics business accounts for 18.9%, with revenue growing by 93.6% year-on-year and 42.9% quarter-on-quarter, indicating that the company's second curve is transitioning from the investment phase to the growth phase.**

More importantly, **Cheetah's robotics business is not a single product story, but consists of three types of capability modules:**

**Voice interaction capabilities represented by Bao Xiao Mi, solving "can understand, can communicate, can serve"; indoor autonomous navigation capabilities, solving movement and arrival in complex indoor environments; and collaborative robotic arm capabilities, which fill the gap of "can operate, can execute."**

With the combination of these three capabilities, Cheetah is no longer just selling reception robots, but is forming a unified technical system around "can speak, can walk, can operate." **Reception robots, exhibition guide robots, smart wheelchairs, and collaborative robotic arms may seem to serve different customers, but they can all reuse this set of capabilities at the underlying level. This is the key for Cheetah to transition from a single product company to a robotics platform company.**

**Second, endogenous and exogenous dual-wheel drive, deepening the commercialization breakthrough in high-margin scenarios**

Currently, the most eye-catching direction in the robotics industry remains humanoid bipedal robots. They represent the largest imaginative space and are most likely to become the market focus. However, from a commercial landing perspective, high hardware costs, complex motion control, and high safety requirements make it difficult to achieve large-scale commercialization in the short term For most enterprise clients, the core is not to pursue a "humanoid" appearance, but whether it can truly bring measurable investment returns.

**Cheetah has chosen a path that is closer to practical commercialization. The company is not chasing the most complex, long-term humanoid bipedal robots, but instead is focusing on autonomous navigation, voice interaction, and lightweight robotic arms to create more practical industrial and service robots for daily life.**

As industrial practices deepen, more and more robotics companies are gradually realizing that wheeled platforms combined with robotic arms can already meet a large number of commercial application needs. **Rather than pursuing high levels of anthropomorphism, prioritizing stable deployment, data closure, and commercial returns is becoming a more realistic development path for the industry.**

At the same time, to quickly and solidly complete the "operational capability" puzzle, Cheetah incorporated the early investment and already profitable Zhongwei Robotics into its listed company system for less than 100 million RMB, which not only reduced the uncertainty of continued business investment but also perfectly combined the existing voice interaction and indoor navigation technology with robotic arms.

Based on this mature hardware and software combination, Cheetah's strategic focus has become clearer. The company has actively avoided the fiercely competitive restaurant and hotel delivery markets, instead delving into high-value-added fields such as reception and explanation, scientific research education, high-end manufacturing testing, and high-end medical services. The product line centered around Bao Xiaomi has been operating long-term in high-frequency standardized scenarios such as enterprise lobbies, government halls, transportation hubs, and museums.

Importantly, **the significance of long-term operation in real scenarios lies not only in creating better gross margins and service barriers but also in building a highly competitive data closure capability.** Compared to many humanoid robotics companies that are still in laboratory testing or small-scale concept validation stages, the navigation, environmental understanding, task execution, and human-machine interaction data generated by Cheetah Robotics in the real world every day provide far more long-term valuable nourishment for the evolution of embodied intelligence than laboratory data.

**First achieving stable deployment and commercial returns, and then using practical applications to feed back into technological iteration, is the core barrier for Cheetah in the second half of the robotics competition.**

From a longer-term perspective, the largest market for robots may not only be in factories; home and personal service scenarios are likely to foster even greater demand.

In this regard, **Cheetah's efforts in the smart wheelchair field essentially represent a cross-border transfer of its past indoor low-speed autonomous driving capabilities for service robots. By equipping wheelchairs with an L2+ level indoor auxiliary driving system, Cheetah has not only become a technological leader in this track but has also precisely tapped into the blank market for health and wellness in the context of an aging society.** \*\*

Currently, Cheetah, leveraging its experience and resources in robotics, has established deep cooperation with global top 3 and leading domestic wheelchair brands, adopting either the partner's brand or a dual-brand model to expand into developed markets such as Europe, North America, Singapore, Japan, and South Korea. Products are scheduled to be shipped to partners in June 2026, with some revenue expected to be confirmed in the second quarter.

**This not only serves as a new driving force for the company's robotics business growth in 2026 but also represents a key move for Cheetah to enter the home and personal service sector ahead of time. Once this direction gradually gains traction, its strategic significance will far exceed short-term revenue contributions, and it is expected to open up more life service scenarios in the future.**

**III. Summary**

Currently, Cheetah's robotics business is still in the growth phase, and the market needs to continue observing the company's validation in sales systems, channel development, scalable delivery, and product stability. However, precisely because of this, the company is worth paying attention to at this point in time.

Based on the performance of the robotics business in the fourth quarter of 2025, **the company's annualized revenue from the robotics business has reached approximately RMB 240 million, nearly doubling compared to the total revenue level for the robotics business in 2025,** indicating that this business is gradually transitioning from product validation to a phase of scalable growth.

The robotics industry has never lacked concepts; what is truly scarce are companies that can turn technology into orders, convert orders into revenue, and gradually transform that into profit.

What sets Cheetah apart is that it does not solely rely on the futuristic vision of humanoid robots but has chosen a practical robotics route that is cost-controlled, scenario-specific, and more easily accepted by enterprises. The internet business provides a profit base and cash flow, while the robotics business offers growth flexibility, with voice interaction, indoor autonomous navigation, and lightweight robotic arms forming platform capabilities.

However, compared to the rapid transformation of its business, Cheetah's valuation in the capital market appears exceptionally low.

**Currently, the company's market value is only about $130 million, far below its net cash level of over $200 million, which means the market is almost giving away all of its core businesses for free.**

\*\*If we use the segmented valuation method, Cheetah's value is further underestimated:\*\*its internet business, based on an operating profit of approximately RMB 115 million in 2025, refers to the Hang Seng Tech Index's approximately 22 times PE and gives a conservative discount, corresponding to a valuation of about $190 million to $260 million; while the high-growth robotics business, based on an annualized revenue of RMB 240 million, refers to peers like UBTECH and Yujian with a PS valuation of about 15 times in 2026, The corresponding value can reach approximately $530 million.

In the past, the market tended to view Cheetah Mobile through the lens of traditional internet companies, but today, as the robotics industry transitions from conceptual hype to real commercialization, Cheetah is reshaping its narrative with financial data. It possesses a solid cash-generating foundation and a highly explosive second growth curve in robotics.

**When this rare asset, which holds abundant cash flow, is rooted in real business scenarios, and is severely undervalued, is re-recognized by the market, Cheetah is bound to undergo a profound value reconstruction.**

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