跟谁学再遭浑水做空：约80%的用户和营收造假

红商网2020-05-22

原标题：跟谁学再遭浑水做空：约80%的用户和营收造假来源：红商网北京时间5月18日晚间消息，据国外媒体报道，做空机构浑水调研公司（Muddy Waters Research）今日发布做空报告，称在线教育机构跟谁学（NYSE：GSX）至少70%的用户是虚假的，甚至可能达到80%；营收情况也是如此。浑水调研在报告中称：“我们做空跟谁学，是因为我们得出结论：这几乎是一场彻头彻尾的欺诈。”以下为报告...

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抓不住的泥鳅
2020-05-23
抓不住的泥鳅
要求美国证监会深入调查
抓不住的泥鳅
2020-05-23
抓不住的泥鳅
的确是造假的

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href=http://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/stock/relnews/us/2020-05-22/doc-iirczymk3057813.shtml><strong>红商网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>原标题：跟谁学再遭浑水做空：约80%的用户和营收造假 来源：红商网北京时间5月18日晚间消息，据国外媒体报道，做空机构浑水调研公司（Muddy Waters Research）今日发布做空报告，称在线教育机构跟谁学（NYSE：GSX）至少70%的用户是虚假的，甚至可能达到80%；营收情况也是如此。浑水调研在报告中称：“我们做空跟谁学，是因为我们得出结论：这几乎是一场彻头彻尾的欺诈。”以下为报告...</p>\n\n<a 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Research）今日发布做空报告，称在线教育机构跟谁学（NYSE：GSX）至少70%的用户是虚假的，甚至可能达到80%；营收情况也是如此。浑水调研在报告中称：“我们做空跟谁学，是因为我们得出结论：这几乎是一场彻头彻尾的欺诈。”以下为报告内容摘要：我们得出的结论是：跟谁学至少有70%的用户是虚假的；我们甚至认为，很有可能至少80%的用户是虚假的。我们的结论基于跟谁学自己的用户和出勤数据文件（而不是任意“抓取”的数据）。我们从200多个付费K-12课程下载了跟谁学的数据，覆盖了54065个独立用户。此外，一名跟数学的前经理也证实了我们的分析，并解释了跟数学广泛的bot（机器人）运营的各种细节。基于几乎全部的用户造假，我们认为，跟数学的营收欺诈比例，至少与用户欺诈比例相当。而且，如果跟数学业务真实部分的ASP（平均销售价格）也被欺诈性夸大，我们也不会感到惊讶。我们得出的结论是：跟数学是一家大规模亏损的企业。没有用户，也没有收入。我们还得出结论，跟谁学在很大程度上低报了各项开支。无论从哪方面讲，跟谁学几乎就是一个空盒子。令人惊讶的是，跟谁学董事长陈向东还找到了一种方法，让跟谁学的股票对长期持有者来说更加危险——他已经质押了至少3.18亿美元的股票。跟谁学的长期持有者所面临的风险是，保证金贷款人将被迫大举抛售股票，从而导致价格暴跌。今年4月14日，另一家做空机构香橼研究公司（Citron 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