A stage performance that defied expectations and an unforeseen half-marathon—these events catapulted the humanoid robots spearheaded by Unitree Robotics into the spotlight, sparking a burgeoning “robot rental” market.
The “CMG World Robot Competition Series” mechanical combat tournament, hosted in Hangzhou on May 25th, showcased the world’s first combat competition exclusively featuring humanoid robots.
With four competing teams, all deploying Unitree Robotics’ G1 humanoid robots, the spotlight refocused on Unitree as the G1s executed a series of jabs, hooks, kicks, and evasive maneuvers.
According to recent data from JD.com, Unitree has sold over 1,000 G1 units. Buoyed by the buzz from the recent combat competition, the “sold out” status has been adjusted to “normal sale,” although delivery times have stretched from 45 to 60 days.
The G1, a new product launched by Unitree Robotics on JD.com in February, sells for RMB 99,000. Unitree Robotics founder Wang Xingxing described the current order demand as “very strong.”
However, this robust demand faces a bottleneck: limited production capacity. The delivery timeline for the G1 has been a lengthy 45 days from the product’s initial launch. Moreover, the nearly RMB 100,000 price tag for a “large-scale toy” is not insignificant.
Coupled with the public’s insatiable fascination with humanoid robots, a new monetization trend emerged among early adopters: “rent-to-own.” Robot owners began leasing their robots to exhibitions or shopping malls, aiming to swiftly recoup their investments and generate profits, leveraging the media attention and public interest.
Following the Spring Festival, posts offering such transactions flooded platforms like Xianyu, Xiaohongshu, and Douyin, igniting the humanoid robot rental market.
“The market was so hot that even pigs could get deals,” one humanoid robot rental operator told Huxiu.
While the market’s been live for only a few months, the scene has already undergone a series of dramatic ups and downs.
During peak demand, daily rental fees for a single humanoid robot ranged from RMB 12,000 to RMB 18,000, even peaking at RMB 20,000. Second-hand market prices were almost double the original, and exhibition tickets were selling for RMB 70-80, drawing thousands of attendees…
Subsequently, as hype around humanoid robots receded, more players entered the scene, increasing the available supply of robots. Rental prices dipped. Those rentals now typically hover between RMB 6,000 to RMB 8,000, even dropping to RMB 5,000 in some cases. The opportunities to profit from robot rental appears to be shrinking.
However, this whole market is driven by its ability to draw attention and generate buzz. Overall, the humanoid robot rental market remains in a state of rapid but chaotic growth.
The Early Profit-Makers in the Rental Game
The “rental operators” from Huanmeng Technology were among the initial beneficiaries of the humanoid robot boom. Mianmian, a former new media professional at a publishing house, sought a career change following breakthroughs in large language models and embodied intelligence. However, she struggled to find an entry point.
After the Spring Festival, driven by Unitree Robotics’ increasing popularity, humanoid robots became a top trend. Mianmian seized the opportunity when she was introduced to Huanmeng Technology’s plans for a robot exhibition and joined the team.
Huanmeng Technology, a robot exhibition company, strategically prepared for the market by acquiring robot equipment three months beforehand, Mianmian informed Huxiu.
The company was promptly able to capitalize on the massive hype. Starting in February, they organized a string of robot exhibitions across cities like Hangzhou, Qingdao, and Ningbo, showcasing various robot capabilities with performances spanning from dance and martial arts to calligraphy and chess.
These exhibitions primarily generated revenue through ticket sales. If an event was a sell out, the profit margin was very large. Even with typical attendance, the net profit remained substantial. A rough estimate indicates that each event yielded somewhere between several hundred thousand RMB and several million RMB in net income.
According to Mianmian, the exhibition held at the China National Convention Center, near Beijing’s Bird’s Nest stadium, was particularly memorable. This event, among the most impactful, drew a multitude of attendees, including the general public, media outlets, technology scholars, and robotics professionals.
“‘Packed’ doesn’t even begin to describe the crowd at the exhibition; it was so crowded that people couldn’t move,” she recalled.
Huanmeng Technology started out as a drama and stage play company, but the burgeoning embodied intelligence sector prompted the company’s change of business. As the big model technology’s growth slowed last year, a consensus on the AGI path no longer existed. Capital shifted its focus, and embodied intelligence became the new point.
Data reveals that domestic investments in embodied intelligence totaled 182 transactions in 2024. Within this, humanoid robotics received 58 investment rounds, receiving funding of RMB 7.23 billion showing it as a darling of capital.
Huanmeng Technology’s transition began during this period. Mianmian explained to Huxiu that the owners recognized the huge opportunity in the embodied intelligence trend, choosing to gradually move away from the original core business and focus on building robot exhibitions. Since the company was founded, Huanmeng has procured over 40 types of robots, including humanoid robots, robotic dogs, and robotic arms, amassing a total of nearly 1000 units. Humanoid robots make up 20 of those units.
In most cases, a team of over 100 people is divided into roughly three sub-groups that conduct activities. Each team deploys over 300 robots and spreads throughout the country, focusing on the robot roadshows in Beijing, Shanghai, and Guangzhou.
Despite the significant shift, robot exhibitions at this stage are essentially performances, not fundamentally different from stage plays. Additionally, the company had prior experience with nationwide tours, so the existing expertise could be extended to the new business.
After stabilizing its robot exhibition business and profiting from the initial humanoid robot boom, Huanmeng Technology expanded its operations to include robot rentals—the most popular monetization strategy for humanoid robots.
Rental Market Explodes, with Maximum Single Deals Reaching RMB 20,000
After the Spring Festival Gala, Unitree Robotics, in addition to being a regular exhibitor, became a powerful attraction, appearing at tech summits, opening events, engineering promotions, and even wedding receptions. However, the high demand has yet to be met fully with an appropriate level of supply.
Unitree Robotics offers two humanoid robot models: the H1 and G1 with dancing at the Spring Festival Gala by the H1 version. Positioned for the high-end consumer market, the H1 model is priced at RMB 650,000 with a delivery time of 60 days. In contrast, the lighter, more accessible G1 model is priced at RMB 99,000. The G1 version has made the most public appearances.
Even so, the number of G1s available in the market in February was insufficient to meet demand. Consequently, the pioneers found a new financial opportunity, launching the “rent-to-own” approach, renting out their robots for RMB 12,000 to RMB 18,000 per day. In a strong market, it only takes a few days for them to recoup their investment.
With high returns and a quick turnaround, more players are entering the market, and that’s when the market reached its peak demand in March.
Ameng joined the market at this time. Originally in ecommerce in Hangzhou, he was looking for new opportunities due to the current market climate. In early March, he saw a live stream advert for humanoid robot rentals on Douyin and was intrigued by the concept.
“Can I make money doing this?” Despite some hesitancy, he was still drawn in. He quickly placed an order through the official Unitree Robotics website. He was informed that the delivery cycle would be about 45 to 60 days.
After placing the order, Ameng stopped the e-commerce business and focused solely on rentals because “e-commerce is not easy.” He also followed in the footsteps of other rental operators, posting advertisements on Douyin, Xiaohongshu, and other platforms to attract customers. Soon after, he secured an order. But he didn’t have a robot yet and the robot’s arrival was months away.
He got the order. Therefore, he decided to try to buy a Unitree G1 at retail. He was successful, but it cost RMB 180,000, almost double the official price.
Ameng told Huxiu that if it were today, he probably wouldn’t have bought a robot at the high price, “because it takes a long time to get your money back.” However, the situation was different at the time because orders came quickly. In particular, he received a large order worth RMB 200,000 soon after, and he made back his investment in a short period of time.
This demand lasted through the May Day holiday. Before that holiday, no less than thirty customers asked about rentals every day. Although not every inquiry resulted in a deal, he did manage one or two new orders a day. At the time, the Unitree G1 he ordered arrived in May, and with two humanoid robots, Ameng was in a much better position to take orders.
Ameng notes that the highest price he had was during the May Day holiday when he attended a pet expo in Ningbo. One humanoid robot combined with two robotic dogs cost RMB 25,000 per day to rent, with the robotic dogs costing RMB 1,500.
Huanmeng also began its rental business in March. But unlike Ameng, who focuses on “spot deals,” Mianmian says that they mainly target major clients, relying on their previous exhibition business.
For example, some clients want to host a small robot exhibition in their respective cities, with at least 20-30 types of robots required. Huanmeng can provide robot products and operating personnel, and more. The process is efficient and convenient.
For the latter, the biggest cost saving compared to “spot deals” is labor. Generally, the hiring party needs to hire machine operators for rental services. Because Huanmeng has so many robot types and the operation is complex, the operators must first learn the trade at various robot manufacturers. They also need to know the robot’s operation logic, various parts, and structure. In addition, because their exhibition schedule is also busy, the value of the operators is higher than the robot equipment.
Another cost factor is shipping. Because humanoid robot batteries are subject to shipping limitations, they cannot be delivered next day. Nor are they allowed to be shipped by air. In most cases, they can only be transported by truck. For some locations that are far away, although the daily rental price seems high, the time spent on the road can be longer than the rental time. Therefore, considering the round-trip time, labor, and material costs, “spot deals” are not cost-effective.
Post-Boom Reflection
As Mianmian revealed, the company mainly focuses on exhibition collaborations for rental services, as they seek mutually beneficial partners across the country to quickly occupy a larger piece of the national robot popular science exhibition market. Although the rentals are usually priced as a package, the pricing is mainly based on the per-robot unit price, with the ultimate discount of a whole order. It is understood that the current pricing is approximately RMB 6,000 to RMB 8,000, which is a significant decrease from the previous range of RMB 12,000 to RMB 18,000.
Mianmian told Huxiu that their original expectation was that the humanoid robot rental market’s demand for such services would inevitably decline. However, the decline would be gradual, likely emerging in the second half of this year or even next year. “But the market is already experiencing intense competition after only a few months.”
A clear reason is that more people are entering the market, creating rapid growth, while also diluting the demand and leading to price declines.
Some time ago, in response to business needs, the team sought to purchase several more humanoid robots. Due to the lengthy delivery cycle of the official channel, they turned to the secondary market. They met peers and eventually acquired a Unitree G1 for around RMB 120,000. “However, such a product could have cost around RMB 150,000 not long ago.” The dip in the rental market has also affected the buying and selling market.
At the same time, some rental operators, seeing the drop in prices and hoping to recover their costs quickly—some even seeking to gain market share with lower prices—cut prices further, leasing out their products at even lower rates. “So the current rental market is in a state of chaos.”
Ameng has also noticed the decline in the rental market’s demand after the May Day holiday.
When he just joined the industry, he placed ads on Xiaohongshu and other platforms, and was often contacted by peers from all over the country. To facilitate communication, they added each other on WeChat and formed a group chat. If he received inquiries or orders from outside of the local area, he would pass them on to peers for a small referral fee, considering the cost and effort required for the job. There were just a few dozen people in the group in the beginning, but the largest group currently has 500 people, and most of them are robot rental operators, with more peers than customers. “Collaborations with partners to obtain orders are no longer an option.”
Meanwhile, some sellers are looking for favorable price points to sell their robots, skipping the hassle of renting them and making money directly. Ameng bought his first humanoid robot from these sellers.
Of course, the decline in the humanoid robot rental market demand should not be attributed solely to the influx of players. Another factor is that the robots can do too little, and there is also a curiosity factor associated with just the performance, which naturally fades as understanding and knowledge expand.
Mianmian told Huxiu that viewers often ask under the performance videos: “(Humanoid) robots can farm? Can they transplant seedlings? Can they take care of my children?” As an insider, they know that they cannot, because they are currently limited to performing—they can only perform a few prescribed actions as well. The limitations are significant.
This is a problem for the humanoid robot industry, and cannot be solved overnight. However, every technological advancement and every increase in the work a robot can do will inject new vitality into the current rental market. So, these operators are more concerned with the short-term future than the long term.
Ameng told Huxiu that he recently invested hundreds of thousands of RMB to order two more Unitree G1 EDU versions. The version supports secondary development. When it arrives, he plans to find a third-party company to customize new features for him. He found out that the price for three dances would be RMB 10,000. Competition in the rental market is intensifying. It will be more competitive for the robots to do more things.
He recently took orders for the Dragon Boat Festival, and while the demand was not as strong as during the May Day holiday weekend, the price was still good. He is also working on an upcoming collaboration for the National Day holiday. Although he is not sure how long he can continue to make money in the humanoid robot rental market, Ameng is not thinking that far ahead. He is more concerned about whether the two, as-yet-undelivered humanoid robots will recoup their costs. “The markets still performing well this month, but we’ll see next month.”
Original article, Author: Tobias. If you wish to reprint this article, please indicate the source:https://aicnbc.com/2005.html
