SEER Robotics
2026-07-23 00:34:06Behind SEER Robotics’ Hong Kong listing: the liquidation of Xianzhi and a co-founder’s exit
SEER Robotics, formally Shanghai SEER Intelligent Technology Co., Ltd., went public in Hong Kong in June 2026 and at one point reached a market value of more than HK$11 billion. But the listing was preceded by a long-running dispute over an earlier robotics company founded by largely the same team.
According to a report by Phoenix Finance’s Storm Eye, Shanghai Xianzhi Robot Technology Co., Ltd. — an older entity co-founded in 2015 by Zhao Yue, Feng Yuan, Wang Qun, Ye Yangsheng and Dai Xiaohe — entered liquidation in 2020, while a new operating vehicle, later known as SEER, was incorporated almost simultaneously. Feng, Xianzhi’s co-founder and second-largest shareholder, said he was pressured to sell down his stake during a 2019 financing round, blocked from transferring shares to an outside buyer, stripped of workplace access, and eventually removed from the company.
The report details a sequence of financing, buyback, asset transfer and litigation steps that left former investors able to migrate into the new company, while Feng’s stake remained in the liquidation of the old one. SEER told Phoenix Finance that Feng has no equity relationship with the listed company and that related disputes have already gone through first- and second-instance court proceedings, with effective judgments in place.