Dobot Passes IPO Review, But Whistleblower Song Tao's 'Co-founder #2' Status Exposes Equity Structure Issues in Humanoid Robots

Last Friday at noon, I was in the break room of a robotics supply chain company in Nanshan, Shenzhen, listening to their FAE talk about Dobot's whistleblower report. He said Dobot took only 86 days to return from H-shares to A-shares, but the screenshot of the "Co-founder Confirmation Letter" posted by whistleblower Song Tao on his Moments had a date of 2018. If Song Tao really was the "No. 2 co-founder," then Dobot's disclosed equity structure in its prospectus has been missing at least one page of top-level design from 2018 until now.