Losses more than fifteen times sales: Yinghe Robot, backed by Meituan and ByteDance, goes bankrupt

The first creditors' meeting is due to be held before the court on 19 October. The opening of bankruptcy proceedings had been announced in late August (“8月下旬”). The company was only six years old.

According to the court's notice, founder and legal representative Shen Gang is now subject to a ban on luxury spending. The company is also on the list of defaulting debtors, and neither its website nor its official account is being updated.

In 2025, Yinghe Robot's net loss was more than fifteen times its annual revenue. Yet the company was targeting emergency management, urban management, logistics, healthcare and industry all at once.

The bankruptcy comes as fundraising remains strong in the sector. According to the data firm IT Juzi, the funds raised by robotics companies in the first 8 months of 2026 are double those of the whole of 2025.