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IQIYI firmly denies all short-selling questions, and was previously accused of inflating user numbers and revenue


2020-04-08 00:48:48Beijing News
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IQIYI firmly denies all short-selling questions, and was previously accused of inflating user numbers and revenue

2020-04-08 00:48:48Beijing News

On April 8, it was bearish for the encounter with Wolfpack Research. In response to the Beijing News, iQiyi said, “About the report issued by third-party organizations that questioned iQiyi today, its cited data and conclusions are seriously untrue and inconsistent with the actual situation. As a responsible listed company, we disclose all financial and financial The operating data is true and meets SEC requirements. We firmly deny all false accusations and reserve the right to pursue legal actions. “

Due to being bearish by Wolfpack Research, iQiyi once fell by more than 11%, and the decline at 0:30 Beijing time narrowed to 0.6%.

Wolfpack Research said that iQIYI had fraudulent activities before it went public in 2018, and that fraud continued after it went public. Through due diligence, iQiyi is expected to increase its revenue in 2019 by 8 billion yuan to 13 billion yuan, accounting for 27% to 44% of the reported revenue, and the company has increased the number of users by approximately 42% to 60%. In addition, the muddy water of the short agency said it helped Wolfpack Research investigate iQiyi.

Wolfpack Research is a global financial research and due diligence company dedicated to protecting investors by ensuring the balance of the financial ecosystem. Wolfpack Research previously published a short-selling headline report on December 10, 2019, accusing it of fraud.

Beijing News reporter Bai Jinlei

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