In a post on microblogging platform Weibo Tuesday evening, troubled bike-rental company Ofo denied reports of impending bankruptcy and maintained that the company is “currently operating normally.”

“Related debts are in the process of being litigated or negotiated. Fake news seriously endangers Ofo’s operations…” the statement read in part. Ofo added that it’s already offered up “evidence” to authorities and reserves the right to pursue legal action.

Chinese media originally reported on Tuesday an entry on the national bankruptcy disclosure e-platform, which showed that an individual named Nie Yan filed a bankruptcy application for Beijing Baike Luoke Technology, Ofo’s domestic operator. The application to the People’s Court of Beijing’s Haidian District is dated Mar. 25.

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Bailey Hu

Bailey Hu is based in China’s hardware capital, Shenzhen. Her interests include local maker culture, grassroots innovation and how tech shapes society, as well as vice versa.