The company said that its business was strong, and the decision to shut down had nothing do with its performance. Shutting down the brand means 18 people will lose their jobs.
The company mentioned Ge's name several times by saying "Ge You-esque slouching" in photo captions, according to the statement.
The company won first place at the National Science and Technology Progress Awards in 2016 for developing the first 8AT in China, making it the first auto parts supplier to obtain the award since it was created in 1984.
The company's sales revenue and profits rose 29.3 percent and 15.3 percent year-on-year, respectively in 2017.
The competition for some vacancies is heating up. Data from the State Administration of Civil Service shows that the most popular position is from the Liaison Office of the International Cooperation Department of the China Family Planning Association, with 1,198 applicants competing for one vacancy.
The company now has more than 200 offices in more than 80 countries and regions. Its focus is on BRI-related countries and regions, especially Pakistan, Bangladesh, Indonesia, the Philippines, and Vietnam.
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The company said that in the future, leading enterprises in the power lithium-ion battery sector are expected to achieve better development in industry competition. To increase its global competitiveness, it will pay close attention to technology advancement and launch more advanced technologies and product solutions.
The company will keep introducing new models into the Chinese market, including the new A6 L and its first electric SUV the e-tron, this year. The e-tron will be locally produced at FAW-Volkswagen from 2020.
The company said ACG headquarters would help fully integrate China Mobile and Migu's resources in areas such as movies, animation, games, music and literature, besides facilitating collaborations with potential partners in the industry.
The company, trading under the ticker symbol of "YJ," announced its IPO of 11 million American depositary shares (ADSs), at a price to the public of per ADS, for a total offering of approximately 1 million.