A humanoid robot priced at 85,000 yuan, when disassembled, reveals a cost of only 41,600 yuan, with an estimated gross profit margin of 40.7%. However, the true barrier for Unitree G1 lies beyond its hardware.
On March 30, the Electrical Equipment and New Energy team at China Post Securities, comprising analysts Su Qianye, Sheng Wei, and Yang Shuaibo, released the &#34;Unitree G1 Humanoid Robot Teardown Report.&#34; This report provided a complete hardware teardown of Unitree Robotics' core product currently on sale, the G1 Basic Edition, analyzing its BOM cost, supply chain, and individual subsystems, while offering a gross profit margin measurement and competitive assessment.
Analysts stated: The core hardware of the G1 consists of mature, industry-standard, and mass-producible components, with no high barriers at the hardware level (the supply chain includes companies such as Intel, DJI, Rockchip, Biwin, LONGSYS, and BrainCo); the high dynamic motion and stable performance of the entire machine primarily stem from self-developed motion control algorithms, making software algorithms one of Unitree's core competitive advantages.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/01d3b0fc-9330-4ac8-9bdb-bcc0be0d8466.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/01d3b0fc-9330-4ac8-9bdb-bcc0be0d8466.png"/>
<h2>Market Background: Booming Shipments, Unitree Ranks First Globally</h2>
According to the latest IDC report, global humanoid robot shipments are expected to reach nearly 18,000 units in 2025, a year-on-year increase of 508%, with a market size of approximately $440 million. These robots are primarily used in entertainment and commercial performances, scientific research and education, and data collection.
Unitree Robotics' shipments for the full year of 2025 exceeded 5,500 units, ranking first globally in humanoid robot shipments. According to its prospectus, Unitree's sales from Q1 to Q3 2025 were 3,551 units, with revenue of 488 million yuan and an average selling price of 168,000 yuan per unit. The gross profit margin for humanoid robots reached 62.9%.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/32ca020e-d8c1-4883-84c0-4b4eef8cff5e.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/32ca020e-d8c1-4883-84c0-4b4eef8cff5e.png"/>
<h2>Selling Price and Cost: Basic Edition Gross Profit Margin at 40.7%, High-End Version Exceeds 66%</h2>
The G1 is currently Unitree's core product on sale. The Basic Edition is priced at 85,000 yuan (after tax), stands 1.32 meters tall, weighs 35kg, and has 23 degrees of freedom (DOF). The EDU version ranges in price from 169,000 yuan to 309,000 yuan depending on the configuration, with up to 43 degrees of freedom.
China Post Securities performed a complete BOM teardown of the Basic Edition:
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The total BOM cost for the machine is approximately 41,600 yuan, with the core joint cost estimated at 27,500 yuan (14 small joints × 1,000 yuan + 9 large joints × 1,500 yuan = 27,500 yuan).
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Adding an estimated processing fee of 3,000 yuan, the total operating cost is 44,600 yuan.
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The pre-tax selling price is 75,200 yuan, with an estimated gross profit margin of 40.7%.
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The EDU version offers a higher gross profit margin. The EDU Standard Edition (priced at 169,000 yuan) has an estimated gross profit margin of approximately 63.5%; the EDU Advanced Edition (209,000 yuan) is around 66.7%; and the flagship C version (289,000 yuan) equipped with the Yinshi five-finger dexterous hand is approximately 64.8%.
The report points out that the upgrade cost for the EDU Standard Edition compared to the Basic Edition does not exceed 10,000 yuan, but the selling price increases by 84,000 yuan, causing the gross profit margin to jump significantly. Dexterous hands have a notable impact on price—Unitree's Dex3-1 force-controlled three-finger dexterous hand with tactile sensing is priced at 41,000 yuan per hand, while the Yinshi five-finger dexterous hand retails for 22,000 yuan.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/9523d52a-c64f-4022-b03a-703ab0fe17f8.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/9523d52a-c64f-4022-b03a-703ab0fe17f8.png"/>
<h2>Supply Chain: Core Self-Developed, Mature Components Sourced Externally</h2>
China Post Securities mapped out the G1's supply chain structure:
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Self-developed: Motors, driver boards, motion control algorithms. No supplier logos were found during disassembly.
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Reducers: Mehoo has publicly stated that its reducer joint module components for Unitree have been mass-produced and delivered normally as required.
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Crossed Roller Bearings: Luoyang Baina. Supplier logos were clearly found during disassembly, with specifications CRBT355A 10E4J3.
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Depth Camera: Intel, model Intel RealSense D435i, BOM cost 1,869 yuan.
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3D LiDAR: DJI, model LIVOX MID360, BOM cost 3,840 yuan.
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Main Control Chip: Rockchip RK3588S (8nm process), with a built-in 6 TOPS NPU.
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Memory: Biwin 8G; Storage: LONGSYS 64G.
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Dexterous Hand: Yinshi Robotics (primary supplier for outsourced dexterous hands; 1,210 units were procured from Q1 to Q3 2025 for 17.2 million yuan, accounting for 96% of outsourced dexterous hand expenditure), BrainCo, Realman.
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The report explicitly stated: &#34;The core hardware consists of mature components available for procurement and mass production within the industry; individual hardware components themselves do not possess extremely high technical barriers.&#34;
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ae8828e3-8e5d-4714-a4b3-2a24dedd2a80.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/ae8828e3-8e5d-4714-a4b3-2a24dedd2a80.png"/>
<h2>Hardware Teardown: Joint, Power, Control, and Perception Analyzed</h2>
The joint system is the core of the G1, with 23 degrees of freedom throughout the body. It employs an integrated &#34;motor-two-stage planetary reducer-encoder-driver&#34; four-in-one module with hollow internal wiring and a compact design.
A teardown of a small joint in the lower leg revealed a diameter of about 60mm, a height of 70mm, and a weight of 525g. The reducer uses a two-stage planetary reduction mechanism with a total reduction ratio of approximately 20.58. The motor is a low-inertia, high-speed internal rotor permanent magnet synchronous motor with a maximum speed of 3,000-5,000 RPM. The knee joint has a maximum torque of 90 N·m, and the arm has a maximum payload of 2kg.
The driver board uses permanent magnet synchronous motor vector control (FOC) technology, coupled with dual encoders for precise position and speed feedback. Notably, &#34;all chip information is concealed to increase the difficulty of imitation by competitors&#34;—this is Unitree's anti-reverse-engineering design at the hardware level.
Power System: A 13-series lithium battery pack with a rated voltage of 46.8V, a capacity of 9,000mAh, energy of 0.42kWh, weight of about 2.5kg, and a battery life of about 1-2 hours.
Control System: The Basic Edition is equipped with a Rockchip RK3588S; the EDU version additionally carries an Nvidia Jetson Orin NX, providing 100 TOPS of edge AI computing power.
Perception System: The head integrates a DJI LIVOX MID360 3D LiDAR (360° horizontal, maximum 59° vertical omnidirectional coverage) and an Intel D435i depth camera, paired with a four-microphone array and a 5W speaker.
The control logic is divided into three layers: Perception Layer (collecting 3D point cloud data from LiDAR and depth camera) → Decision Layer (running deep reinforcement learning algorithms and Unitree's RobotWorld Model on RK3588 or Orin NX) → Execution Layer (high-frequency delivery to joints via CAN bus for millisecond-level precise control).
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/d349c119-6957-4d5c-9e97-594a29292fc9.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/d349c119-6957-4d5c-9e97-594a29292fc9.png"/>
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a1c6a244-21ec-47b5-9531-70d4f3c23992.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a1c6a244-21ec-47b5-9531-70d4f3c23992.png"/>
<h2>Core Conclusion: Hardware Lacks Barriers, Software Determines Victory</h2>
The core conclusion offered by the report is concise and powerful:
&#34;Our in-depth teardown of Unitree humanoid robots shows that their core hardware consists of mature components available for procurement and mass production within the industry; individual hardware components themselves do not possess extremely high technical barriers. Rather, it is on this general hardware platform that Unitree, with its self-developed top-tier motion control algorithms, has achieved high dynamic motion performance, stable walking, and complex scenario adaptability that far exceed the industry average.&#34;
From a financial perspective, Unitree's gross profit margin for humanoid robots has slightly declined from 87.7% in 2023 to 68.4% in 2024, and then to 62.9% in the first three quarters of 2025 as mass production expanded, but it has always remained at a high level. Revenue has seen explosive growth, rising from 3 million yuan in 2023 to 107 million yuan in 2024, and reaching 595 million yuan in the first three quarters of 2025.
The consumer-grade product R1, launched in July 2025 with a starting price of just 29,900 yuan and a weight of about 25kg, further validates Unitree's cost control capabilities. The report believes that the &#34;G1 has accurately targeted the commercial leasing + educational research market, achieving great commercial success,&#34; but it &#34;is not suitable for industrial scenarios requiring high payload, high precision, and continuous operation. It is expected that Unitree will introduce other models to fill this market gap in the future.&#34;
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/c8ff55b0-ffdb-46ef-8b50-dd4d55aaf24b.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/c8ff55b0-ffdb-46ef-8b50-dd4d55aaf24b.png"/>
<h2>Four Major Shortcomings: Conservative Thermal Management, Limited Payload, Narrowing Lightweighting Space, and Industrialization Constraints</h2>
The report provided a direct judgment on the limitations of the G1:
Conservative Thermal Management: The machine relies primarily on passive heat dissipation. Only the main control board and hip joints use active air cooling, while the knee joints are equipped with vapor chambers for passive dissipation. &#34;Continuous working time is only about 1-2 hours. Under high-load conditions, the joint motors are prone to overheating, requiring shutdown for cooling to resume operation.&#34; The report believes this design &#34;aligns with the positioning of Unitree G1 in the commercial performance/leasing and educational research markets,&#34; but &#34;is difficult to support industrial-grade continuous operation.&#34;
Limited End Payload: The G1 weighs 35kg, and the maximum single-arm payload is only 2kg. Some high-DOF dexterous hands already weigh over 1kg (e.g., the Linker Hand L30 single hand weighs 1.2kg), further compressing the effective payload space.
Narrowing Space for Lightweighting: Joint modules account for 49% of the G1's total mass (14 small joints × 525g + 9 large joints × 1100g = 17,250g). The report estimates that even if the shell and end caps were replaced with magnesium alloy and the output shaft flange with titanium alloy, it would only reduce the weight by 48.7g, representing 9% of the total joint mass, indicating &#34;limited room for weight reduction.&#34; The report predicts that &#34;future full-size bipedal industrial humanoid robots will generally reach 50-60kg.&#34;
Industrialization Requires Linear Joints: The report explicitly states that &#34;pure rotation joints have drawbacks in torque density, rigidity, and continuous output under the lightweighting constraints of humanoid robots. Linear joints possess advantages in high thrust density, high rigidity, and self-locking, making them the optimal solution for industrial-grade high-payload humanoid robots.&#34;
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a69b08d1-a460-45fa-90d6-000002dcfbd7.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Image" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/a69b08d1-a460-45fa-90d6-000002dcfbd7.png"/>

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China Post Securities conducted a part-level teardown of the Unitree G1, finding its BOM cost to be only 41,600 yuan. Compared to its 85,000 yuan selling price, the gross profit margin is as high as 40.7%; the EDU version's gross profit margin can reach up to 66.7%. The teardown shows that its core hardware consists of mature components from the supply chains of Intel, DJI, LONGSYS, etc. There are no high barriers in the hardware itself; the true moat lies in the self-developed motion control algorithms. However, the teardown also exposed design limitations: a single-arm payload of only 2kg and a battery life of 1–2 hours, making it difficult to penetrate industrial scenarios

- The analysis by Zhongyou Securities details the production and cost structure of the Yushu G1 humanoid robot, revealing a sales price of 85,000 yuan and a cost of 41,600 yuan, resulting in a gross margin of 40.7%.  
- Analysts noted that the G1's core hardware components are readily available in the market, lacking significant technical barriers, while its high dynamic performance relies on proprietary control algorithms.  
- With an expected 5,500 units sold in 2025, Yushu leads the global market in humanoid robot shipments, though challenges such as limited load capacity and cooling management remain.

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Hardcore Teardown of Unitree G1 Robot: Gross Profit Margin Over 40%, Supply Chain Fully Exposed, Moat Lies in Top-Tier Motion Control Algorithms