Why did KaiXin disband

I checked liquidpedia valorant for fun and on the home page there was ranking for Chinese teams and KaiXin were apparently the top team. But it also said they disbanded. Did they actually disband. And does anyone know why. I don't follow Chinese Valorant but this seems sketch.

And it doesn't say on vlr.gg that they disbanded. They seem to have been on the decline but they still seemed to not have really bad results even when they were falling off.

Was it an impulse decision from the management because they disbanded on the same day that they lost to EDG and Suning. Really strange. Or maybe the management is just really bad.