Embodied AI startup Shenpu Intelligence to acquire control of ST Meizhi for 810 million yuan
Beijing-based embodied AI startup Shenpu Intelligence has been selected as the lead industrial investor in the restructuring of ST Meizhi, a distressed Chinese construction decoration company. Shenpu will invest approximately 810 million yuan to acquire about 92.86 million new shares, becoming the controlling shareholder with a 27.45% stake. The total investment consortium, including 14 financial investors, will inject about 1.809 billion yuan. Founder Li Xiaofei will become the actual controller. The deal comes amid tightening regulatory scrutiny on embodied AI companies' commercialization prospects.
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Embodied AI Startup DeepPark Intelligence to Acquire Control of Listed Company *ST Meizhi for $8.1 Million
Beijing DeepPark Intelligence Technology Co., Ltd. (DeepPark), an embodied AI startup, has been selected as the lead industrial investor in the restructuring of *ST Meizhi, a financially distressed listed construction decoration company. DeepPark plans to invest approximately 810 million yuan ($111 million) to acquire about 92.86 million new shares, which would give it a 27.45% stake and control of the company. The total investment consortium will inject about 1.809 billion yuan. DeepPark's founder, Li Xiaofei, a Tsinghua-trained autonomous driving expert, will become the actual controller. The deal comes as regulatory scrutiny on embodied AI companies' commercialization prospects tightens, with sources indicating a slowdown in approvals for Hong Kong listings. DeepPark, founded in 2024, has raised over 500 million yuan but remains in early commercialization, with 2025 revenue of only 10.98 million yuan and net losses. The transaction is more complex than a typical shell acquisition, as DeepPark must also address *ST Meizhi's debt and business transformation.
Read sourceEmbodied AI Startup Shenpu Intelligence to Acquire Control of ST Meizhi in $1.1 Billion Restructuring Deal
Shenpu Intelligence, a Beijing-based embodied AI startup founded in 2024, has been selected as the lead industrial investor in the restructuring of ST Meizhi, a distressed Chinese construction decoration company listed on the Shenzhen Stock Exchange. According to a September 22 announcement, Shenpu will invest approximately 810 million yuan ($111 million) to acquire about 92.86 million new shares at 8.725 yuan each, becoming the controlling shareholder with a 27.45% stake. The total investment consortium, including 14 financial investors, will inject about 1.809 billion yuan for a combined 54.9% stake. Shenpu founder Li Xiaofei, a Tsinghua-trained autonomous driving expert, will become the actual controller. The deal comes as regulators tighten scrutiny on embodied AI companies seeking IPOs, with a source close to investment banks telling the reporter that approvals for Hong Kong listings of such firms have been paused. Shenpu, which reported only 10.98 million yuan in 2025 revenue and a net loss of 10.1 million yuan, currently holds 512 million yuan in cash. The transaction requires Shenpu to use at least 50% self-owned funds and imposes a 60-month lock-up on its shares.
Read sourceEmbodied AI Startup Shenpu Intelligence to Acquire Control of ST Meizhi in $1.1 Billion Restructuring Deal
Beijing-based embodied intelligence startup Shenpu Intelligence (深朴智能) has been selected as the lead industrial investor in the restructuring of ST Meizhi (*ST美芝), a struggling Chinese construction decoration firm. According to a September 22 announcement, Shenpu will invest approximately 810 million yuan ($112 million) to acquire about 92.86 million new shares at 8.725 yuan each, becoming the controlling shareholder with a 27.45% stake post-restructuring. The total investment consortium, including 14 financial investors, will inject about 1.809 billion yuan. Shenpu founder Li Xiaofei, a Tsinghua-trained autonomous driving expert, will become the actual controller. The deal comes amid tightening IPO windows for embodied AI firms, with a source close to robotics companies telling Caixin that Hong Kong listing approvals for such firms have been paused. Shenpu, founded in October 2024, reported 2025 revenue of just 10.98 million yuan and a net loss of 10.1 million yuan, with cash reserves of 512 million yuan as of September 2026—insufficient to cover its investment commitment, though at least 50% must come from its own funds.
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Shenpu Intelligent to Acquire ST Meizhi for 810 Million Yuan in Restructuring Deal
Beijing Shenpu Intelligent Technology Co., Ltd., an AI and robotics startup founded by Li Xiaofei, co-founder of autonomous driving unicorn Beijing Zhixingzhe Technology, has been selected as the lead investor to restructure ST Meizhi (002856.SZ). The investment consortium will subscribe to 92.86 million shares at 8.725 yuan per share, totaling approximately 810 million yuan, becoming the controlling shareholder. The restructuring plan involves a capital reserve increase to issue 203 million new shares, with Shenpu Intelligent and 14 financial investors paying about 1.8 billion yuan total. Shenpu Intelligent, established in October 2024 with minimal revenue and net losses of 45.93 million yuan, must provide at least 50% of its investment from own funds. The company plans to retain ST Meizhi's existing business during transition while introducing AI and robotics capabilities. Market reaction was negative, with shares falling 10% after the announcement, as the subscription price represented a 63% discount to the pre-announcement closing price of 23.69 yuan.
Read sourceST Meizhi Signs Restructuring Deal; AI Embodied Intelligence Startup to Become Controlling Shareholder
ST Meizhi (002856) announced on September 22 that it signed a restructuring investment agreement with Beijing Shenpu Intelligent Technology Co., Ltd. (Shenpu Intelligent) and other investors. Shenpu Intelligent, as the lead investor and industrial investor, will invest 810 million yuan to acquire shares, becoming the controlling shareholder after the transaction. The restructuring plan involves a capital reserve increase of 2.03 billion shares at a ratio of 10-for-15, with the new shares allocated to creditors and the investor consortium. Shenpu Intelligent, founded in October 2024, is an AI-native embodied intelligence company led by founder Li Xiaofei, former co-founder of an autonomous driving unicorn. The company follows a '1+2+N' technical roadmap with a self-developed unified base model called Omni-Simple-World, and has progressed to fifth-generation prototypes and small-batch production. It has completed five funding rounds from investors including Shunwei Capital, Baidu Ventures, and Didi Group, and has partnerships with China Travel Hotel, Haokangzai, Huawei Cloud, and others.
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