Hipower recently rebutted a local Chinese-language magazine report claiming the company’s CEO went missing, due to its financial crisis. 

A piece published by the World LED Magazine on Dec. 6, 2014, claimed Hipower’s CEO had gone missing, spreading concerns on WeChat and the Internet.

Some Chinese LED manufacturers have shut down or their CEOs fled, causing a stir in society. Keywords such as “missing CEO” and “bankruptcy” were suddenly under the media lime light. However, false reports that emerged on the market have negatively impacted certain companies.

Below are some key points in Hipower’s statement:

• Hipower received a report on World LED Magazine (issue No.161) saying Hipower’s CEO had gone missing and causing widespread concerns on WeChat and Internet.
• The company claimed World LED Magazine report was untrue.
• Hipower operations have been healthy and normal since its establishment 10 years ago, and the company’s CEO did not go into hiding.
• The company reserve the right to take any legal action to address any harm or damage caused by the magazine report.