The actual controller of embodied intelligence company Wujing Dynamics is out of contact, and 30 to 40 employees are owed nearly 8 million yuan in unpaid wages

Salaries stopped being paid in August, housing provident fund contributions were cut off in September, and social insurance payments also stopped in October.

On October 23, according to media reports, thirty to forty employees of Nanjing Wujing Future Power Technology Co., Ltd. were owed nearly 8 million yuan in unpaid wages, the company had already halted work, and even the head of the R&D department joined in filing for labor arbitration.

The company was founded in February 2026 with registered capital of 10 million yuan, focusing on industrial-grade quadruped robots, targeting power inspection, petrochemical, and energy and mining scenarios. Business registration records show the actual controller is Cui Xiaofei, with Yuan Haihui serving as CEO.

Employees showed media screenshots of the lapsed social insurance contributions. According to them, Cui Xiaofei had long stopped appearing, and a person named Yuan Jie emerged in the interim, claiming to be entrusted by Cui Xiaofei to coordinate the aftermath. Yuan Haihui, however, remained at the company, expressed apologies for the team's unpaid wages, and was willing to assist employees in finding Cui Xiaofei.

On October 22, media reached Yuan Haihui by phone; he only said that the actual controller could not be reached at present and that it was not convenient to respond; on the same day, Cui Xiaofei's phone was constantly busy.

More than four months ago, the company's external narrative was a different version.

On June 13, a local Nanjing media outlet reported under the headline "Settled in Nanjing for only a few months, secured nearly 1 billion yuan in orders," that Wujing Power, only 4 months after its founding, had signed framework order contracts worth nearly 500 million yuan with multiple central state-owned enterprises and entered the delivery stage, with local market reserve orders approaching 500 million yuan and 110 million yuan in financing secured.

The founding team was described as a "top-scholar dream team."

CEO Yuan Haihui was admitted to Shanghai Jiao Tong University at age 16 and graduated at 20, immediately embarking on serial entrepreneurship; the team included about 20 undergraduates and doctoral graduates from Tsinghua University and Zhejiang University combined. Yuan Haihui told media at the time: "This order reserve situation indeed far exceeds our expectations. It also demonstrates investors' and the market's recognition of our team's strength and strategic positioning."

The capital market followed quickly.

On June 22, Beijing Stock Exchange-listed company Junchuang Technology announced a plan to jointly establish Hangzhou Xuanyuan Embodied Equity Investment Partnership with Nanjing Yunyi Robotics and Xuanyuan Capital, with total subscribed fund contributions of 32.01 million yuan, of which Junchuang Technology subscribed 20 million yuan, accounting for about 62.48%. The announcement made clear that the fund's ultimate investment target was Wujing Power.

The transaction structure took a detour: the first-phase contribution was first invested in Suzhou Chaoguang Micro Medical Technology Co., Ltd., and then through an equity swap, Chaoguang Micro's net assets and business were injected in their entirety into Wujing Power. Notably, Chaoguang Micro's legal representative is also named Cui Xiaofei.

According to the schedule, by July 7 the fund's custody account had cumulatively received 16 million yuan in cash, of which Junchuang Technology's first-phase paid-in contribution was 10 million yuan; on July 16 the fund completed filing with the Asset Management Association of China. Per the announcement agreement, the investment had to be completed within 30 working days after filing, with a deadline around August 27.

Just within this window, on August 24, Wujing Power's direct shareholder changed from Chaoguang Micro to Nanjing Wujing Future Holding Co., Ltd., the latter directly held about 62.51% by Cui Xiaofei. This industrial fund did not appear in the shareholder list of this business registration change, and the originally scheduled investment closing was not completed on time.

Notably, earlier on July 20, the official website of the Nanjing Jiangning District Government once again published company news.

Chairman's assistant and deputy general manager Wang Wenjun revealed that the company completed 110 million yuan in financing in the first half of the year, and its self-developed substation inspection quadruped robot was expected to be delivered and put into use in October. The lead investor was Huarui Venture Capital under Huarui Embodied Intelligence Industrial Park, attracting the project to land in the Jiangning Development Zone under the name of "patient capital."

A month later, employees found that wages were no longer deposited into their payroll cards.

As of press time, Junchuang Technology's public phone went unanswered multiple times, and interview emails sent by media had not received replies.

Whether that investment originally planned to be completed before the end of August actually landed, whether the fund manager knew the company had halted work, and which layer of equity the 32.01 million yuan share ultimately hangs on—none of these currently have public answers. The substation inspection robot was originally scheduled for October delivery, and now that October is more than half over, what remains in the office are thirty to forty unpaid wage lists awaiting arbitration rulings.

Source: Xinghe Business Observer