The missing chief executive of embattled German-listed Chinese shoe maker Ultrasonic has resurfaced in China to deny absconding with millions of dollars of company money, telling local media he had been travelling and lost his phone.
CEO Wu Qingyong, who was dismissed last week after his abrupt disappearance, separately told an Ultrasonic executive he would return to the company and give back any funds, the firm said in a statement on Monday. It added, however, that its supervisory board had been unable to contact Wu directly.
In a video interview with Chinese news outlet Sina, posted late on Sunday, Wu said the whole matter was a misunderstanding and that he had simply been on holiday with his grandson and had lost his mobile phone.
"Rumors say that I took more than a billion (yuan). This is pure rumor. No such thing has happened. The company's financial situation remains normal," Wu said.
The Sina video said the interview had taken place in the southern city of Quanzhou, where the firm is based.