current position:Home>Shell once again responded to the muddy water short report: there are a lot of factual errors and lack of basic understanding of the industry

Shell once again responded to the muddy water short report: there are a lot of factual errors and lack of basic understanding of the industry

2022-02-02 23:39:27 TechWeb

【TechWeb】12 month 17 Daily news , Short report on muddy water , Shell responded further tonight , Consider that the report has no factual basis , There are a lot of factual errors 、 Unconfirmed statements and misleading guesses and interpretations . The report also shows that muddy water lacks basic understanding of China's real estate trading industry .

About the new house transaction GTV And income . The method of capturing trading volume data in muddy water is wrong , Its new home deal for shells GTV There are serious omissions in the calculation of and income . There are four channels for us to provide new house transactions : One 、 Chain store ; Two 、 The platform is connected to the store ; 3、 ... and 、 New home sales team ; Four 、 Other sales channels . In its report, only the first 、 Two ways , But missed the third 、 Four ways . More Than This , In estimating the first 、 Of the two pathways GTV There are also obvious problems with and income . The company reiterates the accuracy of its previous disclosure .2021 In the second and third quarters , The company's new house transaction GTV Respectively 4983 Million dollars 4101 One hundred million yuan . The rates of new houses in the second quarter and the third quarter are... Respectively 2.79% and 2.77%. The new house transaction service revenue in the second quarter and the third quarter were 139 Million dollars 113 One hundred million yuan . meanwhile , In the second quarter and the third quarter, the collection of new house income was 138 Million dollars 148 One hundred million yuan .

About the stock housing transaction GTV And income . The trading volume data captured by muddy water is seriously untrue and missing . Its data does not come from the real data of the company , So its calculated stock housing transaction GTV And income are wrong . meanwhile , Muddy water does not use shells. The real average price of stock houses , Instead, they chose from CRE Fuzzy substitution of external average price . meanwhile , It USES 5 month 25 The day is coming 8 month 8 Today 76 Days of data collected to simulate the whole company 2021 In the second quarter of GTV How to do it , It is highly subjective and misleading . such as , To reflect the volatility of the market , Muddy water is simulating second-hand housing transactions in the second quarter GTV The value was increased by 9.66%. actually , Due to the downward impact of the market , Company stock housing transaction GTV In the third quarter, it was lower than that in the second quarter 42.0%. Previously disclosed by the company ,2021 The company's stock housing transactions in the second and third quarters of 2013 GTV Respectively 6,520 Million dollars 3,782 One hundred million yuan . In the second quarter and the third quarter, the revenue from stock housing transaction services was... Respectively 96 Million dollars 61 One hundred million yuan .

About the number of stores and brokers . There are obvious flaws in the measurement method of the number of shell stores and brokers mentioned in the report . This is because its information source is incomplete . shell App home page “ Find an agent ” Function can't find a new house special post broker , This kind of broker can be in “ Bridal chamber ” In the sub page of the channel , Obviously, muddy water doesn't realize this . meanwhile , New home agents on this channel have the right to choose not to show themselves . thus , When calculating the total number of stores , Muddy water passes through “ Find an agent ” The method of capturing store data in the function has obvious defects .

Report other allegations about the company , Including the acquisition of 、 R & D expenses , It is also groundless , Because they are based on incomplete data 、 Wrong estimation method 、 Unfounded speculation and wrong understanding of industry practice .

The shell board of directors has authorized the independent audit committee to conduct an internal review of the main allegations in the muddy water report , The independent third-party consultant hired by the audit committee shall provide assistance and advice . The company will provide the latest information of internal review in due time .

Shell reiterated , The company has been and will continue to be committed to maintaining high standards of data integrity 、 Corporate governance and internal control , And transparent and timely disclosure in accordance with the applicable rules and regulations of the securities and Exchange Commission and the New York Stock Exchange .

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