BYD (HKG:1211) said there is no such thing as a "China Evergrande (HKG:3333) of the auto industry" among the country's mainstream carmakers, responding to online speculation that it is financially unstable, The Standard reported on May 30.

Li Yunfei, general manager of branding and public relations at BYD, said in an online post that the financial health of China's core car manufacturers is stronger than that of foreign automakers. He noted that BYD has grown rapidly in recent years, while some peers have stalled and fallen behind in the new energy sector, the report said.

Li added that the company has filed evidence with authorities and will seek legal accountability, according to The Standard.

The rumors surfaced following recent remarks by Great Wall Motor (HKG:2333) chairman Wei Jianjun, who warned of signs resembling a real estate-style crisis in China's auto sector, the report said.

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