Controversies

‘Zhihui Jun’ account’s robot promo for Shangwei New Materials triggers regulatory questions on independence, rival business

Peng Zhihui (Zhihui Jun), co-founder of Zhiyuan Robotics and chairman of Shangwei New Materials, which he controls, posted a video of Shangwei New Materials’ robot on his personal account. The exchange asked whether this violated his commitment to listed-company independence, whether it constituted horizontal competition with Zhiyuan, and whether the phrase ‘world’s first personal robot’ was inaccurate; the company responded that the businesses are independent and positioned differently. Status: company response. Entities: Zhiyuan Robotics, Shangwei New Materials Technology Co., Ltd., Peng Zhihui. Scope: governance of a controlled listed company.