While the global embodied AI industry continues to debate whether robots can perform real work beyond dancing displays, a Chinese company has provided its answer through financial results. ONEROBOTICS (06600), known as the "first stock of AI embodied home robots," released its 2025 annual performance report on March 24—its first financial statement since listing on the main board of the Hong Kong Stock Exchange. The data shows the company achieved annual revenue of 901 million yuan, a year-on-year increase of 47.7%. Its gross profit margin further improved to 54.0%, expanding by 2.3 percentage points compared to the previous year. Adjusted net profit reached 12.77 million yuan, surging more than tenfold year-on-year.
Against the backdrop of widespread losses in the global embodied AI sector, where most robots remain at the "showmanship" stage, ONEROBOTICS has delivered a report card demonstrating that "robots can not only work but also generate profit," with nearly 50% revenue growth, a consistently rising gross margin, and a proven commercial closed-loop. This also provides a firmer basis for the market's perception of its positioning as "China's Figure."
**1. More Than Just a Figure Counterpart: An Underestimated Embodied AI Technology Company** ONEROBOTICS is often compared to "China's Figure." However, a deeper understanding of its technological framework reveals that this label might be insufficient. The company is not only developing humanoid home robots but also building a universal embodied AI technology foundation to serve its strategy of "One Brain, Multiple Forms, Multi-Machine Coordination."
The "One Brain, Multiple Forms" concept involves creating a universal brain for home robots. Once trained, this brain can be shared and reused across different forms, such as nanny robots, sports robots, companion robots, and butler robots. Each new product is not developed from scratch but is adapted at the execution layer based on a unified intelligent architecture, significantly enhancing R&D efficiency and the compounding effect of technological accumulation.
"Multi-Machine Coordination" implies that the future home will not rely on a single "all-powerful" robot but will involve various specialized robots performing their respective duties collaboratively, forming an efficient home service network.
Centered around this strategy, ONEROBOTICS has established a full-stack technology system covering "Brain - Body - Data":
* **Embodied AI Brain:** The company has developed its own Visual-Language-Action (VLA) large model as the universal intelligent core for all its robots. This enables robots to perceive their environment in real-time, understand natural language commands, and autonomously plan and execute long-sequence tasks in complex home settings, fundamentally moving beyond the rigid, pre-programmed modes of traditional robotics. * **Algorithm-Defined Hardware:** With fully self-developed perception and control algorithms, ONEROBOTICS uses RGB camera-based 3D perception technology to replace expensive LiDAR. By integrating reinforcement learning and imitation learning, it has built an integrated skill framework, using software capabilities to break through the limitations of hardware precision. This approach significantly reduces hardware costs while maintaining performance, clearing the price barrier for large-scale commercialization. * **Data Flywheel:** The company has established its own standardized data collection centers and developed specialized data collection robots to systematically produce high-quality, closed-loop data integrating "perception-action-feedback," which continuously feeds back into model iterations. High-quality, real-scenario data is the core fuel driving the evolution of embodied AI models and represents one of ONEROBOTICS's difficult-to-replicate competitive moats.
Once the integrated technology flywheel of "model capability - body capability - data accumulation - scenario application" starts spinning, the delivery of each new product injects new data and experience into the entire system, promoting the continuous evolution of the universal brain. Furthermore, the coordinated operation of various robot forms in real home environments provides the brain with richer, more complex training signals, accelerating its progress towards general intelligence.
**2. The Ultimate Arena: Bringing Nanny Robots into Millions of Households** ONEROBOTICS's strategic endgame targets the global household services market, a multi-trillion-yuan opportunity. In January 2026, the company officially launched the onero home nanny robot at CES—a humanoid robot designed for real home environments. Equipped with the core VLA large model and self-developed dual seven-degree-of-freedom robotic arms, onero can autonomously perform high-frequency household tasks like tidying clothes and cleaning up after meals in complex home settings, directly addressing pain points such as the time-consuming nature of housework, high costs of hiring help, and management difficulties.
This is not a dancing robot or a laboratory prototype—onero's entire mission is to help solve the most time-consuming tasks in daily life. Li Zhichen, Co-founder of ONEROBOTICS, stated at CES: "What we are demonstrating is not a performance, but a solution." While most companies in the industry remain focused on "specification competitions and stage demonstrations," ONEROBOTICS has anchored its technological implementation firmly in real home scenarios—dynamic, unstructured, and highly uncertain environments. Enabling robots to perform household chores reliably over the long term is far more challenging, and commercially valuable, than achieving a perfect demonstration in a controlled lab.
According to Bain & Company projections, the global humanoid robot market size is expected to reach 18 trillion yuan by 2035, with household services being the segment with the broadest potential. With over 2 billion households worldwide, housework is a rigid demand for every family—a natural scenario requiring no market education. Leveraging its first-mover advantage in universal home robot brains, ONEROBOTICS is accelerating its positioning in this track.
**3. "Laying Eggs Along the Way": Commercialization Wisdom on the Path to a Universal Brain** Building a universal home robot brain is a long-term endeavor, and the large-scale commercial deployment of nanny robots also requires time. However, ONEROBOTICS has not chosen to simply endure silently. While refining the universal brain, the company commercializes interim technological achievements in other high-value scenarios first, forming a unique "laying eggs along the way" strategy: continuously incubating scalable products on the main path of technology R&D, which both provide real-scenario training data for the brain and generate tangible commercial returns for the company.
* The Acemate tennis robot is a typical outcome of this strategy. As the world's first AI tennis robot, Acemate integrates AI visual recognition and real-time decision-making systems, enabling it to autonomously track, predict, and hit balls in highly dynamic tennis scenarios, providing training experiences comparable to playing against a real person for sports enthusiasts. This product was selected for TIME magazine's "Best Inventions of 2025" and became the official supplier for the Billie Jean King Cup Finals. Acemate provides the universal brain with extremely valuable high-dynamic sports scenario data—real-time perception and decision-making related to ball speed, spin, and trajectory—precisely honing the brain's reaction capabilities under extreme conditions. * The KATA Friends companion robot targets the substitute demand for emotional companionship. As the world's first AI companion robot with a locally deployed large language model and autonomous mobility, KATA Friends achieves anthropomorphic emotional interaction through a multimodal perception system, with core data stored locally to ensure privacy and security. In September 2025, it won both the "Best in IFA Next" and "Best in Emerging Tech" official innovation awards at IFA Berlin. The companionship scenario contributes key capabilities to the universal brain, such as user intent understanding, environmental semantic recognition, and long-term interaction modeling. * The SwitchBot AI Hub butler robot is a key hub in the "Multi-Machine Coordination" strategy. As one of the world's first smart home hubs integrating large language models with edge computing, the AI Hub acts as the scheduling center within ONEROBOTICS's "One Brain, Multiple Forms" architecture—it officially supports the OpenClaw autonomous agent framework, upgrading home AI from a "tool that passively responds to commands" to a local embodied brain capable of sensing the environment, thinking proactively, executing autonomously, and evolving continuously. Through the AI Hub, nanny robots, companion robots, sports robots, and various smart devices in the home can achieve unified scheduling and coordinated operation, truly realizing the "Multi-Machine Coordination" product vision.
Sports robots hone the brain's "reaction speed," companion robots polish its "empathy," and butler robots assume the role of "coordinator"—all these capabilities will ultimately converge into the "comprehensive intelligence" required by nanny robots: understanding the environment, planning tasks, performing dexterous operations, and continuous learning. Multiple product lines are not independent business units but synergistic pivots on the evolutionary path of the universal brain.
The financial returns from this strategy are already evident. In 2025, ONEROBOTICS achieved revenue of 901 million yuan, up 47.7% year-on-year; adjusted net profit increased more than tenfold. The book loss was primarily attributable to a one-time listing expense of 27.35 million yuan—excluding this, the company was profitable at the operational level. At a time when the embodied AI industry普遍ly "loses money while building hype," this achievement is notably rare.
**4. Global Validation: Scalable Breakthroughs in High-Value Markets** ONEROBOTICS's commercialization is evident not only in its products but also in the depth and breadth of its globalization. The company consistently focuses on core global markets with higher labor costs to build a sustainable commercialization path.
In 2025, revenue from the three major markets of Europe, Japan, and North America accounted for over 95% of the total, with all three regions maintaining strong growth: the European market grew 57.9% year-on-year, with the German market achieving explosive growth of 108.9%; the Japanese market grew 54.9% year-on-year, continuing to solidify its position as the company's largest revenue source; the North American market also recorded steady growth of 21.7%.
By the end of 2025, ONEROBOTICS products were available in over 90 countries and regions worldwide, entering more than 3.6 million households globally, with over 800,000 new households added in 2025 alone. A highly engaged global user base is not only a reflection of commercial value but also continuously feeds real-scenario training material into the data flywheel, forming a virtuous cycle of "user growth - data accumulation - model evolution - product upgrade."
As the "first stock of AI embodied home robots" in the global capital markets, ONEROBOTICS is continuously validating the commercial value of the home embodied AI track through this global commercial closed-loop.
**5. Major Brokers Bullish, Highlighting Value of Embodied AI Leader** Since its listing, ONEROBOTICS has been covered by several major brokerages, consistently identified as a leader in the home embodied AI sector:
* Huayuan Securities initiated coverage with a "Buy" rating, explicitly positioning ONEROBOTICS as the "leader in AI embodied home robots." It noted the company's first-mover and brand advantages in the home embodied AI field, its continuous improvement in generalization capabilities relying on its self-developed VLA model, self-built data factory, and standardized component capabilities, and its pioneering success in establishing a commercial closed-loop overseas. Looking ahead, penetration of new vertical products is expected to drive increases in ASP and gross margin, ultimately forming a flywheel effect where the model, data, and commercialization mutually reinforce each other. * Guotai Haitong Securities initiated coverage with an "Add" rating, pointing out that ONEROBOTICS's core competitive barrier lies in its R&D-based differentiated embodied AI technological capabilities and advantages in global, omni-channel layout. Its integrated "perception-decision-execution" product matrix can comprehensively cover diverse home scenarios. Driven by factors like AI technological breakthroughs, global aging, and consumption upgrades, ONEROBOTICS, as a global leader in home embodied AI, is poised to benefit preferentially from the release of industry demand. * Guotai Junan International was the first to publish an initiation report, giving a "Buy" rating and referring to ONEROBOTICS as a "leading pioneer in sports, companionship, and home service robotics," expressing optimism about its fully self-developed embodied AI technology system and global commercial implementation capabilities. * Tianfeng Securities assigned an "Add" rating, emphasizing that ONEROBOTICS is a leader in embodied AI within the global home robot systems industry, possessing leading market share advantages in key overseas markets. * China Securities (CSC) focused on ONEROBOTICS's leading layout and commercialization potential in the "AI + Sports" embodied AI field across multiple reports.
Behind this broker consensus lies a set of highly persuasive data: products sold in over 90 countries and regions, entry into over 3.6 million households globally, overseas revenue contribution exceeding 95%, and a gross margin consistently above 50% with annual improvement. Against the backdrop of普遍ly high losses in the embodied AI industry, ONEROBOTICS's commercial performance is extremely rare, which is precisely the core reason brokers unanimously label it an "embodied AI leader."
**6. Conclusion: Defining the Chinese Paradigm for Home Embodied AI** At the watershed moment when the global embodied AI industry transitions from conceptual hype to scalable implementation, ONEROBOTICS has built a full-stack technology system covering "Brain - Body - Data" around its "One Brain, Multiple Forms, Multi-Machine Coordination" strategy. Centered on a VLA large model-driven universal robot brain, it reshapes body performance and cost boundaries through "algorithm-defined hardware," continuously feeds model evolution through self-built data collection centers, and accelerates scenario validation of general intelligence through the coordinated deployment of multi-form robots, forming an integrated technology flywheel of "model capability - body capability - data accumulation - scenario application."
From technological breakthroughs to product implementation, from the commercialization wisdom of "laying eggs along the way" to scalable validation in global high-value markets, ONEROBOTICS is defining the direction for home embodied AI development with solid performance and a clear strategic path—eschewing expensive technological ornaments in favor of creating affordable, usable, and indispensable family members. This is perhaps the most powerful footnote for "China's Figure"—this "first stock of AI embodied home robots" is not merely catching up but is defining the track in its own way.
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