360 Group Says Fu Sheng’s Claim That Zhou Hongyi Owes Over ¥100 Million Is a Rumor, No Evidence

What happened

It has been reported that early on March 20 a screenshot circulated on Chinese social media showing Fu Sheng (傅盛), chairman and CEO of Cheetah Mobile (猎豹移动), angrily accusing Zhou Hongyi (周鸿祎), founder of 360 Group (360集团), of owing money and having been blacklisted. The screenshot reportedly came from a WeChat group and alleges a debt in excess of 100 million yuan. The claim has not been independently verified. Who will produce proof? For now, only the screenshot and social chatter exist.

360’s response

360 Group (360集团) pushed back the same day. It said the accusations are rumours and lacked evidence, adding that the company is “more focused on making products” and delivering user value rather than engaging in public spats. 360 also said it has initiated evidence preservation and will pursue legal remedies against false information. It has been reported that the original materials were uploaded to Phoenix New Media’s Dafeng Hao platform, which notes it only provides information storage space and does not verify user uploads.

Why it matters

This is more than a personal quarrel between high-profile tech figures. Reputation matters in China’s tightly networked tech scene, where social-media storms can influence investors, partners and regulatory attention. While this is a domestic dispute rather than a geopolitical or trade issue, it comes as Chinese tech companies remain sensitive to regulatory and public-relations risks — and ready to answer allegations through legal channels.