Dreametech's journey into the automotive sector has encountered another obstacle. Recent corporate registry data reveals that Stellar Plan (Shanghai) Automotive Technology Co., Ltd. has been subjected to a new equity freeze. The frozen equity amounts to 2.3225 million yuan, with the freeze period set from May 7, 2026, to May 6, 2029. The entity holding the frozen equity is Shanghai Stellar Plan Import & Export Trade Co., Ltd.
Notably, the ultimate controlling shareholder of Stellar Plan (Shanghai) Automotive Technology Co., Ltd. is Yu Hao, who holds a significant 96.652% stake. Yu Hao is the founder and CEO of Dreametech, a graduate of Tsinghua University's aerospace program, and recognized as one of China's earliest quadcopter developers and the inventor of the tri-rotor aircraft.
Throughout this year, Yu Hao has frequently mentioned the Stellar Plan and its automotive ambitions on his social media accounts. On April 29, he stated that "Dreametech's Stellar Plan smart car project is advancing a new round of financing based on a valuation of 64 billion yuan (approximately $10 billion)."
This news of the equity freeze has attracted widespread attention and even sparked doubts about the prospects of Dreametech's automotive venture. Some online commentators have questioned, "Is this car company also going under?"
In response, Stellar Plan (Shanghai) Automotive Technology Co., Ltd. issued a statement, clarifying that "this matter involves a routine commercial dispute with a supplier during daily operations. Both parties have reached a settlement, and there are no further financial disputes. The Shanghai Pudong New Area People's Court has ruled to lift all preservation measures (including the equity freeze) against our company."
Founded in 2017, Dreametech is a global high-end technology brand focused on high-speed digital motors, intelligent algorithms, and motion control technologies. Its products are now available in over 100 countries and regions, including China, the United States, Germany, France, and South Korea, with more than 6,000 offline retail stores globally. As of May 31, 2025, Dreametech's total membership across all channels has surpassed 11 million, serving over 30 million households worldwide.
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