New Oriental issued a stern statement today, declaring that online rumors claiming the company's Chief Executive Officer (CEO) Zhou Chenggang "is suspected of misappropriating listed company interests through related party transactions and has been investigated by regulatory authorities" are pure fabrication. The company stated that these false rumors have seriously infringed upon the legitimate rights and interests of both Mr. Zhou Chenggang and the company itself. New Oriental reserves the right to pursue legal responsibility against those who maliciously fabricate and spread false information.
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