Shulou(Shulou.com)11/24 Report--

CTOnews.com March 9 news, the full Bang Group announced last night that its audit committee had almost completed its independent investigation into the main allegations made by the short seller J Capital Research in its report released on January 24, 2023. The audit committee hired professional consultants who had no previous relationship with the company, including forensic accounting experts from international law firms and the big four accounting firms.

The group stated that, based on an independent investigation, the Board concluded that the main allegations in the J Capital report could not be substantiated. The J Capital report shows a marked lack of understanding of the company's business. Independent investigations have found no evidence of GTV's systemic inflation, nor any evidence that the Company's major transactions with investors or shareholders mentioned in the J Capital report may have violated applicable laws or regulations.

CTOnews.com reported in January that Manbang responded to the J Capital Research short report on January 25 that the company strongly denied the allegations in the report that it exaggerated or falsified any operating or financial data. The company believes that the report contains a large number of inaccurate facts, misstatements, unfounded speculation and flawed conclusions, indicating a rough and incomplete understanding of the company's industry and business operations. The company considers the report to be of no value. The company is considering taking appropriate action to protect the interests of all shareholders.

The group also announced its results for the fourth quarter and the whole year of 2022 yesterday. According to the financial report, Manbang Group's revenue in 2022 was 6.73 billion yuan, an increase of 44.6 percent over the same period last year, while the net profit under non-US accounting standards was about 1.4 billion yuan, an increase of 209.8 percent over the same period last year.

Related readings:

"the gang responded to the short report: firmly denied the accusation that the company exaggerated and falsified operating and financial data"

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.