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Unitree trades profit for time: how far is embodied intelligence from the physical AI tipping point?

In Q3 2026, Unitree's revenue was 665 million yuan, up 69.93% year on year, while non-recurring net profit was 105 million yuan, down 17.42% year on year. R&D spending was 127 million yuan, up 249.58% year on year, showing revenue growth without profit growth.

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