8 months of the war of muddy water network of the qin dynasty is finally going to put an end to the war on October 25, 2013, muddy waters report short net of the qin dynasty, shares halved, qin to June 4, 2014 net release third party independent of the Sherman and deloitte report to clarify muddy waters accused, rose 34%, in the end, the muddy water change, is to do all air separation, new Oriental, again after the 360 debacle.
network during the qin dynasty and muddy water exchange, the two sides held several rounds of meetings from a distance, today will be the one will share K.O. do a review the driving forces behind the American short story.
: in the first round of muddy water attack, net qin defense
the evening of October 24, 2013 muddy water release short report
skills: playing time
network at this time the qin’s senior management team in the United States are on a plane to fly to Beijing, take part in network qin eighth anniversary conference the next day. And net qin in the United States, the IR that had obviously been tipped them off, causing an investor to find net, net qin qin has shut down, stock prices down 50% overnight success.
on October 25, 2013 Net of the qin dynasty held the eighth anniversary of platform conference
skills: declaration, retaining investor
morning nets qin released “muddy waters accused of misrepresentation, misleading investors and to achieve capital gains” statement, claim will respond as soon as possible. Net qin half an hour before the afternoon conference decided to start first public demonstration of the account, fight back muddy water “financial fraud” say, but as a result of the listed company public data behavior from the audit is approved in advance, so not if really. Held on the evening of investors will qin, confirmed the accessibility on normal business transactions, such as the national 5000 outlets for prepaid card number information.
second round: muddy water attack, net qin defense
on October 26, 2013 muddy water disassemble nets qin nine sin
skills: information asymmetry, tick concept
Level2 stores in the United States general accounting standards fair value measure principle, Level1 and 2 in plain English is fair value measure in cash and stock weight of different grade classification, is not only the Chinese investors, even American investors have little to distinguish this detail, muddy water and avoid concept explanation, direct questions about network qin how cash is called secondary deposit, cause net qin financial situation is bad. Muddy waters accused yi da tong office in many cities in China are dead empty nest, give a person the suspense, the company has a problem, in fact, in different places SP company is registered in China are required to have a place, but office is must be someone, totally depends on business requirements.
on October 26, 2013 nets qin
skills: public privacy, referees,
on suspicion of fraud, qin open deposit account, according to nearly $280 million in deposits, some $166 million convertible bond proceeds from zte to standard chartered bank has been shown to liquidity, and announced the formation of the independent commission of inquiry, muddy water charges in the investigation.
the third round net qin, muddy waters silence
on October 29, 2013 nets qin issued a 97 – page report
skills: official reports, legal prosecution
network issued a 97 – page report, qin is challenged with financial, tax, user, company’s rebuttal, acquisition and other information, to produce a detailed proof. At the same time, the network of the qin dynasty also revealed has lawsuit against muddy water in China. After three consecutive trading day even jump three Yang, share prices rebounded 64%, to $14.4.
on October 29, 2013, muddy waters silence
fourth round net qin, muddy water defense
on October 30, 2013 partners to support network of the qin dynasty, announced in mobile collaboration
skills: third party endorsement
at this point, the Vox Mobile operator, said qin did not mean to interrupt and network relations of cooperation. China mobile announced its mi goo music platform that integrates network qin audio file search technology. During the media to the network company, qin network to the media to show the net qin qin cooperation with other partners do not contain the details of the contract evidence, counter muddy waters with question.
on October 30, 2013 Muddy water release second report
skills: come round
the second report from the muddy waters released at this time, the content is the first report on the basis of the 10 summarized, are questions come round.
the fifth round net qin, muddy water defense
on November 1-5, 2013 nets qin and cooperation partners have endorsed
skills: third party endorsement
the media to network company to check the nets qin and qin zte does not contain the details of cooperation contract, proves that the two sides in network security, wallpaper, and qin palm butler business cooperation are true, then the media call, head of zte’s business also confirmed that the net and zte does in network security, qin qin wallpaper and palm housekeeper do have cooperation. Subsequently, huawei has also confirmed the relationship between the and network of the qin dynasty, on November 6, huawei BG terminal cloud business unit President RongGuoJiang said personal products, net of the qin dynasty is its partner. On November 8, cool confirmed the relationship with the network of the qin dynasty. Period, the stock rose nearly 20%.
1-5 November 2013 muddy water release third report
skills: come round
the report is in the first round, on the basis of repeated pick out one or two questions, question come round again by the outside world.
the fifth round net qin, muddy waters silence
on November 5, 2013 nets qin independent investigation committee to hire professionals to check the net qin
skills: to survey the
net qin announced its independent special committee has hired on Wall Street, Sherman? , trane, a law firm in view of the muddy waters of the short report issued to qin, the charges of independent investigation, and deloitte consulting co., LTD will as a forensic accountant to assist the investigation in the muddy water in the firm.
on November 5, 2013, muddy waters silence
the 6th round net qin K.O. muddy water
on June 4, 2014, net Qin Gongbu with Sherman and deloitte’s independent survey results, according to qin in major trading, income, net users, cost, taxation, partners are not questioned by muddy water problem. Net qin’s shares rose nearly 34% on the day.
it is worth noting that in the process above, the network of the qin dynasty didn’t package or cry dad live through the media, but put all focus on the actual action, the action for a confidence boost from investors and partners and think, in the key time node, play a role.