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Ninestar Denies ‘Financial Fraud’ Rumour Circulated on Social Media

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Ninestar Corporation of Zhuhai, China, has had its share of troubles, mainly a U.S. product embargo. But it recently was also the focus of a viral social media campaign in China that alleges the company engages in “financial fraud” – with no evidence of this however.

Yesterday, the company issued a statement denying the unsubstantiated rumors that it was engaging in financial fraud.

Ninestar said that multiple social media platforms in China circulated a screenshot in which a user named Xiao Hanshan (Tianfeng Medicine) claimed that Ninestar “had very likely committed financial fraud for “many years.” Additionally, a user named “Feng Bing, Ninestar Corporation’s assistant vice president,” claimed to have reported the case.

According to Ninestar Corporation’s investor relations management information on May 7th, Feng Bing is an assistant vice president and capital markets director of the company. As an investor, the reporter contacted Ninestar Corporation’s investor relations department, and the person in charge stated that the rumor is false, and the company does not engage in financial fraud.

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