Topeka Capital Market launches research report today

Time of June 4 Evening News, Topeka Capital Markets released a study today, reiterated to the NYSE:NQ stock "buy" rating, as well as the 33 dollar target share price.

The following is the full report:

After NetQin issued the independent investigation report of the Special Committee, we reiterated the "buy" rating of the NetQin stock and the 33 dollar target share price. At the beginning of the 2013 survey, the Independent commission "found no evidence that the company was involved in fraudulent activities".

As expected, the survey responded to a series of allegations in the muddy Water October 2013 report.

-the team conducted a thorough assessment of the cash reported in the company's earnings and the company's cash transactions.

-Evaluate and review specific financial information and records.

-Evaluate and review the company-specific database.

-More than 50 interviews were conducted with management and other employees in Beijing and elsewhere.

-through field visits, interviews, and telephone interviews, the main business partners of NetQin in China and abroad were surveyed.

-evaluated the main acquisitions of NetQin.

-Collect and replicate equipment and e-mails from company executives and related personnel.

In order to reflect the thoroughness of the investigation, the Special Committee found some minor internal control flaws prior to the 2011 IPO. Recommendations on how to address these deficiencies have been adopted.

Focus on fundamentals: At present, the findings have been released, and investors can focus on the fundamentals of NetQin. NetQin recently raised revenue forecasts for the first quarter of 2014, and the forecast's second-quarter revenue was higher than analysts ' average forecasts. At the same time, the Network Qin announced that 5% of the external investment in the movement of the company's valuation of nearly 500 million U.S. dollars, which means that the rest of the net operation valuation is almost zero. We expect the NetQin to submit the filing report soon and hold the first quarterly earnings call.