Unitree Denies Reports on Expense Approvals and Punishment-Heavy Management

Unitree Technology said many online claims about its internal management were untrue and urged the public not to take them seriously, after topics including expense reimbursements above 100 yuan requiring Wang Xingxing's approval and a punishment-heavy incentive system drew attention on September 1, according to Jiemian News. The company was responding to earlier media reports that described Wang as direct and strict, said employees were told not to disclose company information, and claimed he focused heavily on product details and cost control. Jiemian News also noted that Unitree, founded on August 26, 2016, listed Wang Xingxing as its legal representative and operates in high-performance humanoid robots, quadruped robots, robot components and embodied intelligence models. The article said Unitree officially listed on the STAR Market on August 19, raising 6.099 billion yuan in gross proceeds, above the 4.202 billion yuan planned in its prospectus, and that net proceeds after fees were about 5.917 billion yuan. It added that more than 85% of the funds will go to R&D projects. The report said Unitree's stock opened at 1,100 yuan per share on its first trading day, up 629.44% from the 150.80 yuan issue price, and later closed on September 1 at 571.1 yuan, giving it a market value of about 231 billion yuan. It also detailed Wang's direct and indirect holdings, the paper wealth of several core staff and investors, and the company's employee and compensation data, including 480 employees as of the end of September 2025 and 90.2094 million yuan in R&D spending in the first three quarters of 2025.