Chinese media got a few words from Lin

[BillNeuburger]

I could be wrong but I thought that was pertaining to the translation of the "audit reaching us soon." Not sure how they can mistranslate something so goddamn fundamental..or how it was stated. Likely you're right or they are..

[BillNeuburger]

I agree wholeheartedly. You are not wrong.

[elvis00]

Pretty sure we would of been better off if management didn't respond at all beyond denying the allegations and ran the investigation and audit internally. At least they would of contained the expectatons that short and distort campaigns feed on.

[maplell2002]

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.

That's right. It didn't say they have expanded the scrope. It said they were trying their best to work with the auditor.

[kevinh]

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.

That's right. It didn't say they have expanded the scrope. It said they were trying their best to work with the auditor.

Do you know Chinese? BillNeuburger and google translate were both correct. The article under bullet point #1 states "网秦已任命新的人选加入董事会和审计委员会，且正在对网秦的扩大审计范围"

It translates to "Netqin has already appointed new members to the Board of Directors and to the Audit Committee, and is currently expanding the audit scope of Netqin." Lin could have easily misspoke but that's what the article states. 

[BillNeuburger]

Thanks, for that Kevin.

[gaosl11]

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.

That's right. It didn't say they have expanded the scrope. It said they were trying their best to work with the auditor.

Do you know Chinese? BillNeuburger and google translate were both correct. The article under bullet point #1 states "网秦已任命新的人选加入董事会和审计委员会，且正在对网秦的扩大审计范围"

It translates to "Netqin has already appointed new members to the Board of Directors and to the Audit Committee, and is currently expanding the audit scope of Netqin." Lin could have easily misspoke but that's what the article states. 

just be very clear about that, the original chinese setence is not complete setence. But if you guess from that incomplete setence, it means ''the new committee is doing something for the request of audit scope expasion". Which to me it means the decision make is still in progress.

based on last IR, we should hear another update once that decision is made.

[kevinh]

Nvm, I see what you are saying. The 的 after 网秦 means something should follow the sentence. But if you take the 的 out of the sentence, it becomes a complete sentence which translates to the audit committee is expanding scope.

But if it's indeed the case that NQ still hasn't made a decision on whether to agree with PWC, then this whole thing just got shadier.

[BillNeuburger]

I don't think the company is inclined to tell us that they agreed to the scope, as there is likely a distrust between them and PWC since they (we) got burned more than once. This would lead to them being inundated with. "When will it be done? emails"
Therefore, it's reasonable that NQ wants a definitive timetable but that would also mean that PWC would have to agree to relay that publicly if an update of this nature was coming. (I'd think) I just don't see that happening. It sure would be a temporary relief for them to tell us that is the pathway forward and not throw another curve ball but they would have to be 100% sure to give us this info, and I find it hard to believe they can feel that way given the events.

As far as what was said, apparently even those who can read Chinese disagree with the context, which is not reassuring by any means. So that sucks. It was 5 days after the 3rd, and after the board members started work, so you would think Dr. Lin put some thought into this formal interview. Also, from what I read, he doesn't take many interviews, only with one reporter, so clearly he said what he wanted to say for a reason, and not off the cuff as I am still worried about though.

[kevinh]

What NQ should be doing is to work out with PWC on the scope of the expanded audit, the fees associated with it, and file the 20-F. Once the audit is complete, file it and then make a public announcement, while have Toro re-classify their shares at the same time so it cannot be lent out, and force a short squeeze.