Short Thesis Part-1: Sheng Fu, CMCM CEO also owns OrionStar
and has sold 30% to CMCM. Accusation is that CMCM planned to launch into robotics anyways and CEO simply created OrionStar to sell a stake to CMCM -> misappropriation.
May need to dig into this detail, maybe more to come :)
About OrionStar
OrionStar is an artificial intelligence company incorporated in China and controlled by Mr. Sheng Fu, the chief executive officer and director of Cheetah Mobile. The company was established in September 2016 by a group of technology industry leaders and product specialists from Silicon Valley, Japan, Taiwan, Beijing and Shenzhen. In May 2017, Beijing Kingsoft Internet Security Software Co., Ltd. ("Beijing Security"), a wholly-owned subsidiary of Cheetah Mobile, entered into a capital injection agreement with OrionStar. Pursuant to the agreement, Beijing Security agreed to subscribe to newly issued equity interest in OrionStar.
OrionStar is committed to using AI technology to develop the next generation of ground-breaking technology products and free people from the burden of overly complicated tasks, make homes more intelligent and create a better world through technology.
In less than one year, OrionStar has successfully released its own voice recognition and image recognition systems.
In June 2017, OrionStar partnered with popular audio streaming platform Ximalaya.com in China to release Xiao Ya, a voice-operated speaker powered by OrionStar's self-developed remote voice interactive system, and the first product to connect to OrionStar's AI ecosystem.
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