Wang Xingxing said during the Yushu Science and Technology Innovation Board IPO online roadshow today that the company sold 5 first-generation H1 products in 2023. Due to the scarcity of commercial humanoid robots at the time, the unit sales price and gross margin of this batch of products were high, and were not comparable to subsequent years. In 2025, the gross margin of humanoid robots declined somewhat. The main reason is that, on the one hand, the company developed and released the G1 medium-sized humanoid robot in May 2024, and quickly became the main sales model for humanoid robots. Since the unit price, unit cost, and gross margin of the G1 as a medium-sized humanoid robot were lower than the full-size robot H1, it led to a decline in the company's overall gross margin of humanoid robots. On the other hand, the company continues to reduce production costs and procurement costs to optimize product unit costs. On this basis, the company appropriately lowered the sales price of products in 2025. According to the data, from 2023 to 2025, the gross margins of Yushu Technology's humanoid robots were 87.67%, 69.26%, and 63.18%, respectively, showing a downward trend year by year.

Wang Xingxing said during the Yushu Science and Technology Innovation Board IPO online roadshow today that the company sold 5 first-generation H1 products in 2023. Due to the scarcity of commercial humanoid robots at the time, the unit sales price and gross margin of this batch of products were high, and were not comparable to subsequent years. In 2025, the gross margin of humanoid robots declined somewhat. The main reason is that, on the one hand, the company developed and released the G1 medium-sized humanoid robot in May 2024, and quickly became the main sales model for humanoid robots. Since the unit price, unit cost, and gross margin of the G1 as a medium-sized humanoid robot were lower than the full-size robot H1, it led to a decline in the company's overall gross margin of humanoid robots. On the other hand, the company continues to reduce production costs and procurement costs to optimize product unit costs. On this basis, the company appropriately lowered the sales price of products in 2025. According to the data, from 2023 to 2025, the gross margins of Yushu Technology's humanoid robots were 87.67%, 69.26%, and 63.18%, respectively, showing a downward trend year by year.