Published: 7:30pm, 11 May, 2016 Updated: 3:20pm, 12 May, 2016
Leading robot maker, HNC (Wuhan Huazong Numerical Control), has posted a retraction on its website after reports of falsifying sales. The company's shares dropped 20% following the reports, in which it was claimed that Wuhan Huazong Numerical Control had sold a few hundred gantry robots to Gree Electric, the state-owned appliance manufacturer, in 2015, however, Gree stated that it only purchased a number of components, and had built its own gantry robots. Many companies in China's robotics industry are said to be heavily reliant on large government subsidies, with sales figures forming a key part of their eligibility for those subsidies.