File photo/Zhang Jian (NBD)

June 19 (NBD) -- A court in Tianjin stated Monday that Ofo doesn't have a penny to its name, after one of the bike-sharing firm's suppliers applied to the court for a writ of execution.

The Tianjin court issued a writ of execution in April after Tianjin Fuji-ta Bicycle asked the court to take possession of 250 million yuan (36 million U.S. dollars) worth of property owned by Ofo over sales contract disputes, but then found no asset to satisfy the execution, according to a filing released by the court on Monday.

According to the court, Ofo's operator Dongxia Datong (Beijing) Management Consulting Co. Ltd (Dongxia Datong) doesn't have any property, land use rights, external investment or cars under its name. Though Dongxia Datong has opened bank accounts, yet those accounts were either frozen by other courts or had no balance, the Tianjing court added.

Ofo is owing debts to not only its bike suppliers but also users who had placed deposits. Millions of users haven't got their deposits back. An anonymous user said to National Business Daily (NBD) that he was queuing online behind around 8.2 million people claiming deposits back as of 3 p.m. on Wednesday.

"I hope everyone at Ofo can stand with and have faith in the company, live bravely rather than escape, and shoulder the responsibility for every penny we owe and for every user who has supported us," said Dai Wei, founder and CEO of Ofo, in a statement last December.

It's noticed that debt-ridden Ofo and its operator have been entangled in various court orders.

NBD found that there are around 170 executions related to Dongxia Datong. In a single month of this May, the company received nearly 20 writs of execution involving more than 60 million yuan.

On June 12, a Shanghai court took the action against Chen Zhengjiang, a top executive at Dongxia Datong, for failing to perform his duties with regards to the company's debt. Chen was barred from leaving China.

Also, numerous Ofo executives, including founder Dai Wei, have been blacklisted by various Chinese courts, a designation that bars them from engaging in spendings that can include plane travel, staying in luxury hotels and sending their children to expensive private schools.

Email: gaohan@nbd.com.cn