Wasn’t it only to be expected that Unitree’s stock would fall? Put simply, it’s a robot toy pumped up by hype!
1. Let’s break down this freshly released Q3 report. In a nutshell: impressive on the surface, but with problems underneath. Q3 revenue was 665 million yuan, up nearly 70% year over year—a very impressive growth figure. But net profit attributable to shareholders was 113 million yuan, down 17.37% year over year and cut in half compared with Q2. Non-GAAP profit also fell. This is a classic case of burning cash to drive revenue, with no stable profits in sight.
2. Where did the profits go? The key factor is a massive increase in R&D spending. Quarterly R&D investment surged 249% year over year to 127 million yuan, with huge sums poured into computing power for embodied AI foundation models and expanding the R&D team. Sales and marketing expenses also rose. Cash flow weakened as well: operating cash flow fell by half year over year, and the money is going out much faster than it’s coming in.
3. I’m sure many of you remember the explosive rally before the earnings report. The stock soared in just a few days, specifically targeting and crushing the short sellers. We opened a small short position around 93 earlier, but held on until around 100 before cutting our losses and getting out. The floating losses were painful, and the fees were high—there was no room to breathe. It was just capital speculating on expectations around the humanoid robot concept!
4. Once the expectations had been priced in and the earnings report was released, the results failed to meet the market’s lofty expectations, so the decline was only natural. Unitree’s valuation was already high, and it’s still in a phase of ongoing investment, so a recovery in profits is unlikely in the short term.
So our strategy remains unchanged: stocks hyped on the robot narrative tend to fall once the good news is fully priced in. That’s why Fish posted his short position at 103 in the Krusty Krab last night: $UNITREE ! The target is 90. If you haven’t joined this move yet, come to the Krusty Krab—I’ll keep sharing updates~
Watchlist for today: IDOL BULLA INIT ON
#FOMC会议 #谷歌财报能否守住基本盘
1. Let’s break down this freshly released Q3 report. In a nutshell: impressive on the surface, but with problems underneath. Q3 revenue was 665 million yuan, up nearly 70% year over year—a very impressive growth figure. But net profit attributable to shareholders was 113 million yuan, down 17.37% year over year and cut in half compared with Q2. Non-GAAP profit also fell. This is a classic case of burning cash to drive revenue, with no stable profits in sight.
2. Where did the profits go? The key factor is a massive increase in R&D spending. Quarterly R&D investment surged 249% year over year to 127 million yuan, with huge sums poured into computing power for embodied AI foundation models and expanding the R&D team. Sales and marketing expenses also rose. Cash flow weakened as well: operating cash flow fell by half year over year, and the money is going out much faster than it’s coming in.
3. I’m sure many of you remember the explosive rally before the earnings report. The stock soared in just a few days, specifically targeting and crushing the short sellers. We opened a small short position around 93 earlier, but held on until around 100 before cutting our losses and getting out. The floating losses were painful, and the fees were high—there was no room to breathe. It was just capital speculating on expectations around the humanoid robot concept!
4. Once the expectations had been priced in and the earnings report was released, the results failed to meet the market’s lofty expectations, so the decline was only natural. Unitree’s valuation was already high, and it’s still in a phase of ongoing investment, so a recovery in profits is unlikely in the short term.
So our strategy remains unchanged: stocks hyped on the robot narrative tend to fall once the good news is fully priced in. That’s why Fish posted his short position at 103 in the Krusty Krab last night: $UNITREE ! The target is 90. If you haven’t joined this move yet, come to the Krusty Krab—I’ll keep sharing updates~
Watchlist for today: IDOL BULLA INIT ON
#FOMC会议 #谷歌财报能否守住基本盘
