China's largest provider of stock images, Visual China Group, shut its website and apologized on Friday after it falsely claimed copyright of images such as the first photo of a black hole and China's national flag.
The company, which partners with U.S. photo agency Getty Images, said in a post on its official Weibo account the incident revealed its weak management and that it was cooperating with authorities investigating the matter.
Shares in the company slumped by the maximum 10 percent allowed.