Direct response to a lot of responses to "short": the value of bona fide interpretation is greater than malicious speculation.


Direct response to a lot of responses to

Sina Technologies News on the afternoon of November 16, in response to the short report issued by Blue Orca, an American short-selling agency, said that the directional content listed in the report was totally inconsistent with the facts.

Short report: how far and how high is it?

Blue Orca, a short-selling agency, recently issued a short-selling report accusing it of overstating revenue and total commodity transactions, reporting lower staff numbers and labor costs, and offering a multi-target price of $7.1. Overnight Doubleton shares fell only slightly at the beginning of the session, then rallied, closing up 11.66% to $19.15.

Blue Orca said in the report, "We believe that, based on the evidence presented in this report, the amount of business it has put together is far less valuable than it claims. If we use the same market sales rate of Alibaba to estimate, and adjust the true business income we believe, we estimate that the value of Pingduo should be $7.1 per share, which may be conservative, because our target of Pingduo's market sales rate is China's top e-commerce. Many investors have come to the conclusion that, like us, it is a lot of investment that is not worth investing. "

We should fight for ourselves.

In many ways, the company adheres to the highest standards. The figures in its financial statements are in full compliance with the provisions of the Securities and Exchange Commission (SEC). The documents submitted conform to the General Accounting Standards of the United States and are audited by Ernst & Young.

"Since the first day of listing, like other well-known Chinese stocks, Pingduo will often encounter queries from short-selling institutions for profit-making purposes," said the person in charge of Pingduo. It is not worth refuting such a conclusion.

As we said in our letter to shareholders, if a team wakes up in unease, it will never be because of stock price fluctuations, but because of ignorance of changes in consumers'real needs and consumers' dissatisfaction or even abandonment. For this reason, we should lock in more than three full-term options for three years. In the face of doubts, we should first take responsibility for ourselves, embrace the supervision of the public, take out the spirit of nails, stand consumers, and solve practical problems one by one.

In many ways, the value of bona fide interpretation is always greater than malicious speculation. In the face of shorting, the only thing that motivates us to think more is how to stick to our responsibilities and continue to work hard towards the goal of becoming a company that really generates sustained value to society. (Han Dapeng)

The following is a lot of responses to the full text:

The value of bona fide interpretation is always greater than malicious speculation.

1. The company always adheres to the highest standards. The figures in the financial statements fully comply with the provisions and rules of the Securities and Exchange Commission of the United States (SEC). The documents submitted conform to the General Accounting Standards of the United States and are audited by Ernst & Young Accounting Firm.

2. Since the first day of listing, like other well-known Zhongguo stocks, Pingduo will often be questioned by short-selling institutions for profit-making purposes. But if it is only for profit, it is often argued that opinions should be taken first and then proofed as "bone in the egg". It is not worth refuting the conclusion drawn from such a process.

3. As we said in our letter to shareholders, if a team wakes up in unease, it will never be because of stock price fluctuations, but because of the lack of understanding of the changes in consumers'real needs, and consumers' dissatisfaction with us or even abandonment. For this reason, we should lock in more than three years of full-term options, first ask for responsibility in the face of doubt, embrace the supervision of the public, take out the spirit of nails, stand consumers, one by one solidly solve practical problems, and serve the vast majority of consumers.

4, the value of bona fide interpretation is always greater than malicious speculation. In the face of shorting, the only thing that motivates us to think more is how to stick to our responsibilities and continue to work hard towards the goal of becoming a company that really generates sustained value to society.


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