Kaiyue Motorcycles said on its official WeChat account on June 6 that recent online allegations — that its funding chain has broken and it faces imminent bankruptcy; that it repeatedly sought rescue from Zhang Xue; that sales plunged about 30% prompting Chairman Yan Kai to seek Zhang's help; and that the company absorbed Zhang Xue’s 36% stake — are fabricated and malicious. The company said the claims are baseless, have damaged its brand and Chairman Yan's reputation, harmed vehicle owners and d

Kaiyue Motorcycles said on its official WeChat account on June 6 that recent online allegations — that its funding chain has broken and it faces imminent bankruptcy; that it repeatedly sought rescue from Zhang Xue; that sales plunged about 30% prompting Chairman Yan Kai to seek Zhang's help; and that the company absorbed Zhang Xue’s 36% stake — are fabricated and malicious. The company said the claims are baseless, have damaged its brand and Chairman Yan's reputation, harmed vehicle owners and dealers, and disrupted normal market order.