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'admin' pid='46552' datel Wrote:["There are never really any proof that what CCTV 315's accustion against NQ is true. However it's CCTV, people in the China just believe in it and those 'rumors' spreads fast when hundred of million people believe in it."] This is exactly the kind of practise I'm referring at. ["Almost all cellphone software company at that time are collecting payment through SP (like YiDaTong) and there are lot of loophole for them to collect those money without real permission from end user. Chinese are not like paying money on the software, especially on security because they don't care lot at that time. That's main reason why so many chinese dislike NQ mobile today because Symbian used to be biggest user base of smart phone in China (before iphone) and most of NQ mobile users at that time are charged without actual permission from end user. Those loopholes are get fixed mostly since 2010 though."] From here I understand that this charging issue without consent (assuming that it happened, I still haven't seen any conclusive evidence) was common practise before 2010, not the exclusive reserve of NQ ("hoodlum" or otherwise)..
you are right. that's why I long NQ.
different people will have different take on it. But i've seen similar comments against Tencent and Qihoo before, kind of growing pain. As long as you have a strong business model in place bashers will disappear. The problem for NQ is that they must prove their business model, which is by releasing 20 F.
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Yep. That 20F is quite a bit more relevant than what they might have charged before 2010, and I'm still inclined to think that whatever hoop PWC requires them to jump through, they have very little choice..
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'admin' pid='46554' datel Wrote:Yep. That 20F is quite a bit more relevant than what they might have charged before 2010, and I'm still inclined to think that whatever hoop PWC requires them to jump through, they have very little choice..
Admin, if DT is willing to come on board, you don't think NQ can fire PWC and hire DT? I am assuming DT will trust their own audit and we should have a 20-F fairly quickly, since PWC seems to think the past work they did was not good, and also they aren't willing to trust DT's audit.
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Kenji100, although I do like the sound of that reasoning, I lack the accountancy experience to be able to judge that on its merit, so let others with more relevant knowledge comment on it..
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'admin' pid='46560' datel Wrote:Kenji100, although I do like the sound of that reasoning, I lack the accountancy experience to be able to judge that on its merit, so let others with more relevant knowledge comment on it..
If you haven't seen it, please look at the case of Fab Universal. They fired their auditor who was taking too long and basically was going to get FAB universal get delisted, so they fired them, hired a new auditor, and now they have a new 10-K. Forensic audit is still going on for that company.
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'Kenji100' pid='46559' datel Wrote:
'admin' pid='46554' datel Wrote:Yep. That 20F is quite a bit more relevant than what they might have charged before 2010, and I'm still inclined to think that whatever hoop PWC requires them to jump through, they have very little choice..
Admin, if DT is willing to come on board, you don't think NQ can fire PWC and hire DT? I am assuming DT will trust their own audit and we should have a 20-F fairly quickly, since PWC seems to think the past work they did was not good, and also they aren't willing to trust DT's audit.
my personal experience is that it's highly unlikely. it's too risky for DT to take over it now and it will under a lot of pressure from SEC and public if he signed off something PWC dont' willing to. The audit DT is done is hired by law firm which is to perform specific task, like verifying cash, business partners... which is different from an annual report by independent auditor. if you work in a big corp, you will also understand big corp politics that those work performed by DT itself, doesn't mean it's something they can use right away. There will be long and numorous steps they need do to transfer and verify all those docs to the working department and I won't be surprise it took another 2 month even before DT can start work on it
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'avunculus' pid='46507' datel Wrote:
i'm always wondering why there are so many hostile Chinese comments at the end of an NQ news report.
I paid attention to those hostile comments late last year. Some of the comments looked familiar because I had read them a few times before. There were people who posted the same comments whenever they saw NQ news. Sometimes they reworded a little, other times they just did a simple copy/paste therefore the comments looked identical.
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Just part of the smear campaign!
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Does anyone read Chinese, and can confirm that Dr. Lin essentially said in points 1 and 4 that they are complying with auditors and expanding the scope? Or is it google translate basically saying that, but not so much in Chinese.
**I do realize I'm asking a message board of sorts.**
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'BillNeuburger' pid='47139' datel Wrote:Does anyone read Chinese, and can confirm that Dr. Lin essentially said in points 1 and 4 that they are complying with auditors and expanding the scope? Or is it google translate basically saying that, but not so much in Chinese. **I do realize I'm asking a message board of sorts.**
I asked the same question. Someone here pointed out that a person from YMB got in touch with IR last week, confirmed it was just a translation error and they have not expanded scope yet. Also that the audit is ongoing in the meantime. I wouldn't consider that information bankable but still think it may be true.
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