Exclusive news on October 14th, the article titled "Lenovo Gaming Console Delayed, Old Employees Questioning Equity Damage and Resignation" drew industry attention. An informed person revealed to Sohu IT that "some game demonstrations at the United Green Motion press conference were pre-recorded videos, which amounted to a staged performance. United Green Motion's product still has many bugs. The original reason for holding the press conference was to satisfy investors."
The equity change originated from the VIE model. Yesterday afternoon, United Green Motion held an emergency meeting to explain the "company equity swap plan" to all shareholders and answer employee-related equity questions. A recently resigned employee disclosed that after a 100:1 exchange, many employees were left with only tens to hundreds of shares.
This equity swap controversy also brought United Green Motion's VIE structure to light. According to the aforementioned employee, United Green Motion is a domestic company, while the entity for future company listing will be a Cayman Islands-registered company. Both companies' legal representatives are Luo Zheng, who has also registered multiple other companies.
There were rumors that Lenovo Investment had just received its second round of funding. Informed sources stated that "United Green Motion is undergoing A+ round investment, but this part of the investment is paid in two batches. Originally agreed upon investments from three parties (Lenovo Holdings, Lenovo Group, and Lenovo Investment) actually only saw money from Lenovo Holdings. The rest were empty promises without immediate payment, though these two payments have been credited recently."
"The money from Lenovo Holdings went to United Green Motion, whereas the funds from Lenovo Investment and Lenovo Group were invested into the Cayman Islands-registered company," the aforementioned investor said.
New product launch used recorded video demonstrations. Netizens exposed that "multiple investors and departments support Green Motion, but they're being misled by superficial appearances. During the Green Motion new product launch, many games shown were pre-recorded videos, not live demonstrations. The only real game demo was conducted by the vice president of Green Motion. That game has been in development for nearly two years and is considered one of Green Motion's core ace games."
This netizen's exposure was confirmed by developers. A partner of United Green Motion told Sohu IT that Green Motion required developers to provide two videos, one for promotion and another for demonstration. Included in this list were titles like Dance Craze, Family Gym, Tai Chi Exercises, and Dodo Fantasy World.
This developer emphasized to Sohu IT that the full video of the Green Motion launch event can still be found online, revealing several inconsistencies. For example, in Dodo Fantasy World, the mouse in the footage did not move in response to human-computer interaction, before directly cutting to the game scene.
The developer explained that the reason for using such methods to demonstrate products was due to "too many bugs in the product, unstable machine performance, and many bugs being stuck in unsolvable awkward situations, leading to this gaming console not having a specific release date until today." (Written by Sohu IT)