The findings of the company's independent Special Committee report on Muddy Water shorting

Summary: View the latest quotes Sina science and technology news Beijing time June 4, the Network Qin (NYSE:NQ) today announced the independent Special Committee on the Muddy Water (Muddy Waters) Short report of the investigation results, said the Network Qin no muddy water allegations of fraud. Also check the latest quotes

Beijing Time June 4 Evening News, the Network Qin (NYSE:NQ) today released the independent Special Committee on the Muddy Water (Muddy Waters) Short report of the findings, said the Network Qin no muddy water allegations of fraud. There is no evidence that NetQin's revenue and cash volumes do not match the earnings figures. NetQin opened a 10.24-dollar rally this evening, up 34.21%.

The Net Qin previously reported that the fourth quarter appeared negative cash flow, and adjusted profit will be 31% lower than the average analyst forecast. This makes investors worried that the Qin may have accounting fraud. Since the release of the earnings, NetQin's share price has fallen 30%. Muddy Water founder Brock said the investigation lacked credibility and reiterated his view that there was fraud in NetQin. (Chen Hui)