Shenzhen Smartisan Digital Technology Co., Ltd. has entered dissolution stage on January 20, 2021.

Shenzhen Smartisan, a company solely owned by Smartisan Technology (Chengdu) Co., Ltd, was founded in April 2016, with Wen Hongxi as the company's legal representative. Luo Yonghao, the actual controller and the ultimate beneficiary of the company, held the position of executive director.

Luo Yonghao announced earlier today that the company that was being dissolved is Smartisan's Shenzhen company. This company does not have any outstanding debts. The actual business of Smartisan Digital Technology Co., Ltd. in Beijing and Chengdu is still in existence. The dissolution of Shenzhen Smartisan Digital Technology Co., Ltd. is a normal business adjustment in the company's operations, mainly due to current business needs and cost considerations.

"Please be rest assured that Luo Yonghao is actively repaying his debts," Luo said in his announcement.

Luo Yonghao founded the Android smartphone maker Smartisan Technology in 2012. But by 2019, Luo was scrambling to pay off Smartisan’s debts. Then ByteDance, owner of short video-sharing apps TikTok and Douyin, acquired a set of patents from Smartisan and launched its first smartphone under the Smartisan brand. On 18 January 2021, ByteDance announced that it has suspended development of smartphones under the Smartisan brand to refocus on its Dali line of hardware products for the education sector.