Claiming a valuation of one billion yuan, a robot dog start-up is at a standstill eight months after its creation

In October, the company was accused of owing nearly eight million yuan in wages. Social security contributions were no longer being paid, the controlling shareholder could not be reached and the company had stopped work. The head of research and development ended up before the labour arbitration panel with the other employees.

The company was registered on 11 February 2026. In June, it claimed to have nearly one billion yuan in orders, to have received one hundred and ten million yuan in funding and to be valued at one billion yuan in its first funding round.

In September, it unveiled the 磐石P25-Ex. According to the company, the robot reaches the IIC T6 explosion-proof protection level and weighs 60 kilos. It was aimed at hazardous sites in refining and coal chemicals.

According to the article, the order book was split between nearly five hundred million yuan of framework contracts signed with central state-owned enterprises and nearly five hundred million yuan of “reserved” orders on local markets. The author points out that a framework contract sets a ceiling and does not commit the buyer to any quantities.

The Jiangning district in Nankin had presented the company as a model of attracting investors through its funds. A district fund and private funds had invested several tens of millions of yuan in its first funding round. According to the article, the arbitration procedure is still under way.