Chinese startup Ofo has denied it is bankrupt, and claimed all is w

ell at the bike-sharing company in a statement released on Tuesday.

According to media reports, Beijing Baikeluoke Technology Co, one of Ofo’s operat

ors, was involved in a bankruptcy case on March 25, listed on the national bankruptcy disclosure platform.

Ofo, however, insists it is not bankrupt, saying that its debt-related litigation and negotiations are still underway.

The company has been suffering financial problems for the past few m

onths, with tens of millions of users waiting for refunds since the second half of last year.

To compound matters for the company, unpaid bills resulted in several lawsuits in the same period.

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