NewTimeSpace | 90% of Revenue from Overseas and Home Robots; OneRobotics (06600.HK) Expands into Dexterous Hands

2025 is widely regarded as the "First Year of Robot Mass Production," a period that saw a wave of upstream and downstream companies rushing to list on the Hong Kong Stock Exchange (HKEX).

On December 30, 2025, OneRobotics (06600.HK) successfully listed on the HKEX just before the year's end, marking a high note for the robot IPO frenzy.

Nearly three months after its debut, OneRobotics has released its first post-listing annual report. In 2025, the company achieved a revenue of RMB 900 million, representing a year-on-year increase of 47.7%. Nearly 90% of this revenue was derived from AI embodied home robot systems, which generated RMB 807 million, up approximately 47.6% year-on-year.

Focus on Overseas Markets: Home Robots Drive Nearly 90% of Revenue

Public records show that OneRobotics, founded in 2018, is a provider of AI embodied home robot systems. Its core technologies include AI machine vision control, robot positioning and environment mapping, and distributed neural control networks. The company is dedicated to building an intelligent home ecosystem centered on smart home robots, promoting the practical application of AI embodied intelligence in domestic settings.

Financial results released on March 24, 2026, show that OneRobotics achieved an annual revenue of RMB 900 million in 2025 (+47.7% YoY). Gross profit reached RMB 490 million (+54.2% YoY), with the gross profit margin further improving to 54.0%.

NewTimeSpace has learned that due to one-off listing expenses, the company recorded a net loss of RMB 27.26 million in 2025. However, excluding listing expenses, the company recorded a non-GAAP adjusted net profit of RMB 12.766 million, a significant increase from RMB 1.107 million in 2024.

Regarding its product lineup, OneRobotics has focused on three core scenarios: home service, sports, and companionship. Within its product matrix, the all-new tennis robot, Acemate, designed for sports scenarios, raised over US$2.4 million following its launch on the Kickstarter platform.

For the high-potential home sector, OneRobotics introduced the humanoid nanny robot, onero. This robot integrates dual 7-DOF (degree of freedom) robotic arms with a high-precision wheeled chassis, capable of performing household chores such as dishwashing, laundry, intelligent cooking, and plant care.

In the smart home segment, nearly 90% of the company's revenue came from AI embodied home robot system products. In 2025, revenue from these products reached RMB 807 million, a year-on-year increase of approximately 47.6%.

Furthermore, nearly all of the company's revenue is generated overseas, with Japan, Europe, and North America accounting for over 95%. Data shows that in 2025, the company earned RMB 546 million in Japan, RMB 206 million in Europe, and RMB 118 million in North America. Growth rates were 54.9% in Japan and 57.9% in Europe, with Germany seeing a massive surge of 108.9%.

Marketing Growth Outpaces Revenue; RMB 240 Million Acquisition of 21% Stake in Hitbot

Behind this rapid growth, OneRobotics' selling and distribution expenses surged by 81.3% to RMB 312 million in 2025, far outpacing revenue growth. The company stated that these expenses were primarily directed toward market expansion, brand promotion, and channel building.

Industry insiders noted that in these regions, high labor costs create a clear demand for automation, and consumers are more willing to pay for convenience. However, high commission rates on local e-commerce platforms, advertising costs, and logistics expenses—coupled with the fact that products are still in the market education phase—mean that sales expenses are unlikely to drop in tandem with revenue in the short term.

Financial data indicates that OneRobotics' R&D expenses in 2025 reached RMB 136 million, a year-on-year increase of 21.8%.

NewTimeSpace notes that in addition to Unitree Robotics, several unlisted robot companies—such as SEER, LDROBOT, YOUIBOT, and DeepRobotics—are currently in the IPO queue. Among them, companies capable of self-sustenance remain a minority, as losses continue to be a common challenge for most robot enterprises.

The robot industry is recognized as a "cash-burning" sector characterized by heavy assets and R&D investment. Today, with technological progress and accelerated commercialization, leading companies are gradually approaching a profitability inflection point.

OneRobotics is no exception, and its post-listing investment layout has already begun.

On March 31, 2026, shortly after announcing its 2025 annual results, OneRobotics declared a strategic investment of RMB 241 million to acquire a 21% stake in Hitbot (Shenzhen) Co., Ltd.

Hitbot, founded in 2017, specializes in the R&D and manufacturing of core components such as industrial-grade dexterous hands and collaborative robotic arms. Its products cover industrial automation, medical rehabilitation, and education/research, with a client base including major domestic humanoid robot firms and international automation giants.

Differentiated Competitive Positioning: Industry Approaches Mass Production Inflection Point

NewTimeSpace understands that the home robot sector in which OneRobotics operates is in a phase of rapid expansion.

According to Frost & Sullivan data, the global home robot system market is expected to grow from RMB 5.9 billion in 2024 to RMB 70.7 billion by 2029, representing a compound annual growth rate (CAGR) of 64.2%. The sector is characterized by high growth and low penetration. Breakthroughs in AI, global aging trends, and consumption upgrades are driving home service robots from "concept" to "necessity."

Based on data previously disclosed in the company’s prospectus, OneRobotics held an 11.9% retail market share in global home robot system products in 2024, ranking first and covering over 90 countries and regions.

Japan, Europe, and North America serve as the company's primary revenue sources. The Japanese market is a traditional stronghold for the company, where it holds the number one market share. Achieving a commercial closed loop in mature overseas markets first is one of the core advantages that distinguishes OneRobotics from other domestic robot companies.

NewTimeSpace observes that competition is intensifying within the specialized home service robot sector. For example, the traditional cleaning robot market, represented by robot vacuums, has already entered a stage of cutthroat competition.

IDC data shows that in the first three quarters of 2025, the top five global robot vacuum brands were all Chinese—Ecovacs, Roborock, Dreame, and Narwal—collectively accounting for over 65% of the market share. These brands are not only dominating global shipments but are also doubling down on technological innovation and cross-sector expansion.

At present, OneRobotics does not compete directly in the traditional robot vacuum market. Instead, it follows a "One Brain, Multiple Forms" strategy, focusing on differentiated scenarios such as humanoid nannies, AI tennis robots, and AI companion robots, empowering various robot forms with a universal home robot "brain."

However, as 2026 is seen as the mass production inflection point for the humanoid robot industry, external forces are making major moves alongside internal competition. General-purpose humanoid robot enterprises are expanding rapidly, backed by massive capital and technical prowess.

Wanlian Securities pointed out in its "2026 Humanoid Robot Industry Investment Strategy Report" that 2026 will be a "critical window" for mass production and scenario validation. In this increasingly competitive landscape, the company will face unprecedented challenges.

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