爱奇艺年报 继瑞幸咖啡之后,爱奇艺也爆出财务造假

继瑞幸咖啡之后,爱奇艺也爆出财务造假  

A short seller firm has accused Chinese video-streaming platform Iqiyi of reporting inflated revenue figures and user numbers in 2019
following just days after US-listed Luckin Coffee's explosive revenue fraud disclosure last Thursday.
The Beijing-based pany often referred to as the "Netflix of China" is another high-profile target for short sellers following beverage chain Luckin Coffee's spectacular downfall
as US-listed Chinese panies find themselves under increasing scrutiny.
Muddy Waters Research eeted a link to a Wolfpack Research report on Tuesday
alleging that Iqiyi had inflated its 2019 revenue by 27% to 44% and overstated user numbers by 42% to 60%.
浑水调研公司在推特上发了周二的一份Wolfpack Research报告的链接，指控爱奇艺2019年的收益报告虚增了27%，变成了44%，用户增长率虚增了42%，变成了60%。
The Wolfpack report claimed Iqiyi had also blown up its expenses
the prices it pays for content
other assets
and acquisitions "in order to burn off fake cash to hide the fraud from its auditor and investors."
The research
which Muddy Waters assisted with
included a survey of 1
563 people in Iqiyi's target demographic which found that VIP users of the video streaming site often scored free memberships through package deals with its partners
including Xiaomi TV and .
The pany records the membership revenue in full and lists its partner's share as expenses
inflating both revenue and expenditures
according to the report.
Iqiyi said in a statement Wednesday that a report by short seller Wolfpack Research "contains numerous errors
unsubstantiated statements and misleading conclusions and interpretations."
Nasdaq-listed Iqiyi did not provide details backing its claims about the report
but said that it has always been mitted to maintaining "high standards of corporate governance and internal control" in pliance with US securities regulations.