Muddy water Qin network today released a survey report made a response

According to news on 5 June, shorting agency Muddy Waters responded to a survey released today by NetQin (NYSE: NQ).

NetQin announced earlier on Wednesday that an independent investigation conducted by the company's special committee found no evidence of fraud. Qin said the team did not find any evidence that the company had had muddy water charges of fraud. In addition, the investigation team also put forward a series of suggestions to NetQin to further enhance the company's internal management. NetQin's board of directors has also adopted these recommendations and guided the company's management to implement it.

In order to verify the allegations of Muddy Waters last year, the independent investigation has carried out a survey on the business activities, earnings, cash flow and revenue of NetQin, partners in China and overseas, and major acquisitions, which lasted six months. In the survey, the company management and staff fully cooperate with the survey.

Affected, net Qin shares as of 12:20 (GMT 0:20 GMT) on the New York Stock Exchange regular trading soared to 10.15 US dollars, or 33%. However, compared with the first time NetEase allegedly engaged in fraudulent activities in muddy water, the company's stock price still dropped by about 56%.

But Muddy water founder Carson Block replied: "It is unambiguous that NetQin is a liar." (This release from NetQin) This press release is nothing more than a fraud on the United States Once again, the usual whitewashing practices of Chinese companies by investors are written by Chinese executives who do not need to be held accountable to U.S. authorities. "

Muddy water in a report released in October last year, said Qin serious exaggeration of the company's market share in China and the number of users, and said the development of an anti-virus software program is actually a kind of "backdoor program." In this report, Muddy Water first rated the stock of Qin as "Strong Sell." According to the allegations of muddy water, Net Qin in the Chinese market share of only 1.5%, rather than NetQin himself reported 55%; paid subscribers only less than 25 million people, not NetQin himself declared 600 Million people. The date of the report, net worth nearly half of evaporation. (Swiss snow)