Shenzhen DOBOT Corp Ltd (DOBOT) released a voluntary announcement addressing market rumors related to former employee Mr. Song’s property interests in Yuejiang LP, the company’s staff shareholding platform. Management confirmed that Mr. Song is neither a founding shareholder nor a co-founder and obtained his stake through the 2018 employee equity incentive scheme.

Key points:

• Origin of Equity Interest: Mr. Song joined DOBOT in October 2017 and received indirect equity in 2018 via an incentive plan that granted shares to 13 early employees. He subsequently acquired corresponding property interests in Yuejiang LP in May 2019 by assignment from controlling shareholder Mr. Liu Peichao.

• Repurchase Right on Resignation: Under the incentive scheme, DOBOT’s de facto controller—or a designated third party—retains the right to repurchase incentive shares if an employee resigns. Mr. Song left the company in March 2021, activating this repurchase clause.

• Compliance of Equity Adjustments: In December 2022, Yuejiang LP transferred part of its shareholding to a newly established incentive platform to accommodate a new round of grants covering more than 50 employees. DOBOT emphasized that all related industrial and commercial registration changes complied with regulations and did not acknowledge Mr. Song’s ownership claims.

• Legal Proceedings: In November 2023, DOBOT sought a court declaration that Mr. Song’s incentives had lapsed and his shares be transferred back to Mr. Liu. The Guangdong High People’s Court dismissed the case on jurisdictional grounds, indicating the dispute should proceed via arbitration. No litigation or arbitration involving Mr. Song is currently pending.

• Integrity of Disclosures: The company’s A-share sponsor and legal counsel confirmed that DOBOT’s equity structure is clear, free of material ownership disputes that could affect control, and compliant with IPO registration rules. Both Hong Kong and A-share IPO prospectuses are deemed true, accurate and complete.

DOBOT reiterated that the dispute is confined to the employee partnership vehicle and poses no material impact on the group’s equity clarity, control stability, operations, or financial standing. The board advised shareholders and potential investors to rely solely on the company’s official disclosures when making investment judgments.