station network (www.admin5.com) October 31st news, the short muddy water agency (MuddyWaters) on Thursday released the latest report on netqin. Netqin (NQ) intraday decline has exceeded 55% to $10.40. The report pointed out that netqin exercises a major fraud, we believe that the company is zero".
netqin was founded in 2005, in its official website claiming to be the leading global provider of mobile internet security services, as the world’s more than and 150 countries and over 240 million (as of the third quarter of 2012) intelligent mobile phone users of mobile security products and services.
, however, has always been aimed at takes stock of the American short muddy water agency said in a report, netqin in market share, product safety, balance sheet, and acquisitions are false or fake behavior. Muddy waters said its target price below $1 per share, and it is listed as "strong sell". So far, netqin’s largest customer is actually netqin own. We made estimates after the study is that netqin share in the Chinese market is only about 1.5%, rather than the company claims about 55% of its own. We expect that the number of users of China’s Qin paid only less than 250 thousand people, rather than netqin said the sound of the people of. Muddy water also alleged netqin security 7 antivirus software is actually a "backdoor". The report reminded investors: netqin’s future as bleak as before. Netqin can not be achieved through the existence of the user does not exist, as well as the network of M & A transactions are likely to corrupt behavior".
subsequently, netqin said in a statement, the company on any of the company’s business will be very serious allegations of false treatment. Netqin will respond quickly, transparently and forcefully. Netqin company announced that the board of directors of the company has set up an independent special committee on the report of the muddy water content is evaluated independently, the special committee of four independent directors, the committee also authorized to appoint an independent consultant to help the evaluation. Netqin said: the company’s management will fully cooperate with the investigation of the special committee." In addition, in order to prove the strong performance of the company’s business, netqin also announced the company so far some of the major cash deposits. At the same time, Qin also said that after the release of the 2013 fiscal third quarter results, insider trading regulation after the end of the period, the company will conduct a $35 million stock repurchase program.
is the distance of muddy water short report released over the past 6 days, 6 days, the public response to Lin Yu, a conference call for investors more explanation, the 97 page report back, sue for muddy water…… A series of "self-help" does not seem to completely dispel doubts about Qin: a claim up to 460 million registered users and 9 million paying business users, why in the US, but it is difficult to find a netqin
users?Affected by this,
shares began to fall, the highest decline of 63%>