Analysis of Organizational Management Challenges for CloudWhale Intelligence Before IPO

Based on the latest research data, CloudWhale Intelligence is indeed in a critical pre-IPO period, facing multiple challenges in organizational management and talent stability. I will provide systematic analysis and recommendations from a professional perspective.

According to the data, CloudWhale Intelligence experienced significant executive changes during 2024-2025:

• Li Yang, Vice President of Products
  , left earlier to start his own business. He joined CloudWhale in 2021 as Vice President of Products, responsible for product design, R&D engineering management, quality, and other work, and had significant influence in the team
• Wang Jungang, Head of China Region
  , recently left the company. He was a core member of Roborock Technology and joined CloudWhale as Head of China Region in 2024
• In 2024, a large-scale organizational optimization was carried out, reducing the number of employees from 1600 to 1400, with some departments cutting staff by up to 65%[1][2]

• Joyoung Acquisition Rumors
  : Recent rumors about Joyoung’s plan to acquire CloudWhale have continued to ferment. Although founder Zhang Junbin has clearly denied it through an all-staff letter and emphasized that the listing determination remains unchanged, this reflects the market’s concern about CloudWhale’s stability[1][2]
• Product Reputation Challenges
  : Data from third-party complaint platforms shows that CloudWhale products have accumulated more than 1,000 complaints, involving charging failures, sensor abnormalities, base station water leakage, and other issues[1][2]
• Capital Market Window Period
  : The company has completed a $100 million financing round co-led by Tencent and Beijing Robot Industry Fund, with a valuation exceeding 10 billion yuan, and is fully sprinting toward an IPO on the Hong Kong Stock Exchange[1][2]

• Key Position Succession Plan
  : Immediately launch the identification and training plan for successors of core positions, especially key positions such as product and China region business heads
• Equity Incentive Binding
  : Accelerate the improvement of employee equity incentive plans to ensure that core technical personnel and management are bound by interests before and after the company’s IPO
• Communication Transparency
  : Enhance employees’ confidence in the company’s strategic direction through regular all-staff communication meetings, face-to-face meetings with founders, and other methods

• Career Development Path
  : Establish a clear career development path so that employees can see long-term growth space at CloudWhale
• Corporate Culture Remodeling
  : During the critical pre-IPO period, strengthen corporate culture construction to enhance employees’ sense of belonging and mission
• Performance Incentive System
  : Optimize the compensation structure, increase the proportion of long-term incentives, and link it to the company’s market value performance after listing

• Introduce independent directors and professional consultants to enhance the professionalism and independence of the board
• Establish specialized risk management and audit committees
• Improve information disclosure mechanisms to enhance corporate governance transparency

• Clearly define the responsibility boundaries between the CEO and heads of various business lines
• Establish a regular management meeting mechanism to ensure consistency in strategic execution
• Set up a specialized investor relations department to handle capital market communication before and after listing

• Establish a regular communication mechanism for executives to timely understand the real thoughts and demands of management
• Pay attention to executives’ work pressure and job burnout, and provide necessary support
• Identify the dynamics of market competitors for core talents in advance

• Standardized executive departure handover procedures to ensure business continuity
• Establish a follow-up cooperation mechanism for departing executives (such as consulting agreements)
• Conduct in-depth analysis of the reasons for departing executives’ departure as a reference for management improvement

According to the latest industry cases, OpenAI also experienced the loss of core founding team members during the IPO preparation period. In 2025, only two of its original 11 founding team members—CEO and President—remained in management[3]. This case shows:

• Conflict Between Early Team and Mature Period
  : As the company advances in IPO preparation, early entrepreneurial team members often choose to retreat at the peak
• Increased External Temptations
  : During the company’s peak valuation period, the marginal benefits of external opportunities may exceed the benefits of continued internal development
• Introduce Professional Managers
  : It is necessary to timely introduce professional executives with listed company management experience

According to the latest “Guidelines on Corporate Governance of Listed Companies”:

• Executive Employment Contracts
  : Employment contracts should be signed with senior managers, clarifying the rights and obligations of both parties, post-employment obligations, accountability and recovery, etc.[4]
• Performance Evaluation Mechanism
  : Establish fair and transparent performance and performance evaluation standards for senior managers
• Compensation Management System
  : Improve compensation management, including the design of long-term incentive mechanisms

1. Complete the determination of successor lists and training plans for key positions
2. Improve the design of equity incentive plans for core employees
3. Establish a regular communication and early warning mechanism for executives
4. Strengthen investor relations management and do a good job in market expectation management

1. Optimize the organizational structure and clarify responsibility boundaries
2. Establish a standardized executive departure management system
3. Introduce necessary independent directors and professional consultants
4. Improve internal control and risk management systems

1. Complete the optimization of corporate governance structure before listing
2. Establish a continuous talent development and retention mechanism
3. Form a unique corporate culture and employer brand
4. Do a good job in management echelon construction after listing

• Talent Loss Risk
  : The loss of core technical personnel and management may affect the company’s R&D capabilities and market development capabilities
• Governance Defect Risk
  : Organizational turmoil may be regarded as a corporate governance defect by regulatory agencies and investors
• Market Confidence Risk
  : Frequent executive changes may affect the capital market’s judgment on the company’s stability
• Business Continuity Risk
  : Vacancies in key positions may affect the progress of important projects and customer relationship maintenance

CloudWhale Intelligence’s current “troubled times” are both growing pains in the enterprise growth process and a necessary test before sprinting for IPO[1][2]. It is recommended that the company adopt proactive response strategies, reduce the negative impact of organizational turmoil to the minimum by improving talent retention mechanisms, optimizing corporate governance structures, and strengthening internal and external communication, so as to lay a solid foundation for a smooth listing on the Hong Kong Stock Exchange.

The organizational stability and corporate governance quality before IPO are key areas of concern for regulatory agencies and investors. It is hoped that CloudWhale Intelligence can, under the leadership of Zhang Junbin, straighten out internal management, stabilize product reputation, consolidate the basic盘 (core business), and successfully应对 this key challenge.

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[1] Weikehao - CloudWhale Intelligence’s Critical Year: Zhang Junbin Needs to Continue Making Up for Shortcomings (https://mp.ofweek.com/smarthome/a456714269597)
[2] The Paper - CloudWhale Intelligence’s Critical Year: Zhang Junbin Needs to Continue Making Up for Shortcomings (https://m.thepaper.cn/newsDetail_forward_32289912)
[3] 36Kr - The Cost Behind Trillion-Valuation: OpenAI Is Losing Its Founders (https://eu.36kr.com/zh/p/3614548332365058)
[4] National Council for Social Security Fund - Guidelines on Corporate Governance of Listed Companies (https://www.ssf.gov.cn/portal/rootfiles/2025/12/10/1767095839196602-1767095839203862.pdf)