TechNews, citing Chinese media outlets and court notices, reports that more than 20 Chinese robotics companies went bankrupt, dissolved, liquidated or shut business lines between February 2025 and September 2026, covering at least 11 different segments. The contraction coincides with a funding surge: RMB124.51 billion flowed into robotics in the first eight months of 2026, twice the whole of 2025, and 50 robotics companies had entered the listing process by July 2026. Cited cases include the Shenzhen Intermediate People's Court accepting a creditor liquidation petition against Yinhe Robotics in July 2026, with a first creditors' meeting held on October 19; DeepBlue Technology (Shanghai) accepted for liquidation in May 2026 with more than RMB23 million in unpaid wages after a valuation that once reached RMB14 billion; and CloudMinds, whose parent's peak valuation exceeded RMB20 billion. A CAICT embodied-intelligence report cited in the article describes a hot-and-cold split, a gap between technical demos and real delivery, and an expected shakeout of companies lacking real value over the next two to three years.