April 8 news, for Ai Qiyi was short, Ai Qiyi CEO Yu this morning sent a circle of friends to respond: evil is not pressure, see who wins in the end. On the evening of April 7, Edge was shorted by Wolfpack Research, a third-party agency. Wolfpack Research reported fraud and alleged financial fraud long before the IPO, and another shorting agency, Hunshui, said it helped Wolfpack Research investigate Aichi.
At 8:58 a.m. this morning, Yu Yu re-tweeted a circle of friends, saying that thank you for their support and trust, “honest and honest people, down-to-earth work.” “
According tomedia reports, short-sing agency Wolfpack Research published a report on its website, “The Netflix of China?” According to Good Luckin, Aichi had been cheating long before the 2018 IPO and had been doing so ever since.
The report says they estimate that Aichi has inflated its 2019 revenue by about 27-44 percent and its user base by about 42 to 60 percent. In addition, the report states that fraud was concealed from auditors and investors “by burning false cash that does not exist”.
Meanwhile, another short-selling company, Muddy Waters, has been shorting Edge after Wolfpack Research released the report.
Aichi responded that its references and conclusions were grossly false and did not correspond to the actual situation. Ai qiyi said that as a responsible public company, all financial and operational data disclosed by the Company is true, in accordance with SEC requirements, the Company strongly denies all false allegations, and reserves the right to sue the law. (Ike)