A Germany-based Chinese shoe company says the CEO and COO have gone missing—and so has the company's cash.

Ultrasonic AG, in a statement Tuesday citing chief financial officer Chi Kwong Clifford Chan, said the company had been unable to contact the two executives since the weekend.

"Moreover, Mr. Chan was informed by the accounting department that most of the company's cash funds at PRC and Hong Kong levels have been transferred being no longer in the company's range of influence," the company's statement said.

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