On November 19, YY live broadcast responded to the muddy water short report, saying that muddy water's report was full of ignorance of the live broadcasting industry and the live broadcasting ecology. The report contained a lot of errors, such as unclear logic, chaotic data, and taking a partial view. < p > < p > previously, Hunshui, a well-known short seller, said that it was shorting the happy gathering era of us listed companies (YY live broadcast is subordinate to YY entertainment business department of happy gathering era), and the user data, revenue and book cash of happy gathering era were suspected of fraud, and the scope of fraud covered all businesses. It was estimated that the revenue fraud ratio of huanju era was as high as 84%. Affected by this, happy gathering times in the United States fell more than 26%. Muddy water: about 90% of YY live broadcasting is fraud < / P > < p > muddy water said in the report that the survey showed that about 90% of YY live broadcasting in the era of reunion was fraud, which was a fake ecosystem. < p > < p > specifically, there are three ways of counterfeiting: first, in the era of reunion, 50% of the virtual gifts come from the company's own servers, and the other 40% are from external robots or the host's own bills. An analysis of 96 randomly selected reward data shows that about 97.9% of the sample gift income may be false. Second, the income of the head anchor is not as high as the outside world thinks. YY claimed in 2018 that the top five anchors of the platform "attracted more than 1.1 billion yuan in cash", but according to the revenue reporting records obtained, these anchors reported a total revenue of about 156 million yuan. For example, the actual income of traza in the next two years will be a monthly salary of 150000-200000 yuan, which is far from the estimated 15 million yuan gift sharing. Third, guilds participate in counterfeiting. According to the comparison between the financial reports of the happy gathering era and the corporate credit reporting reports of the five major associations, muddy water questioned that the income of these associations in 2018 was less than 15% of that announced in the era of reunion. < / P > < p > according to the report, the documents submitted to the US Securities and Exchange Commission in 2018 by happy times show that long-term deposits are RMB 1 billion. Muddy water believes that the total may be fictitious or greatly exaggerated, because the onshore vies in the era of reunion do not include these long-term deposits. < p > < p > muddy water means that muddy water has studied the business of the happy gathering era for more than a year by adopting a two pronged approach. On the one hand, 115.6 million transactions are collected automatically for macro data collection and analysis; on the other hand, traditional muddy water technology, including review of documents and accounts and secret field investigation, is carried out. < p > < p > Baidu: announced the acquisition of YY < / P > < p > two days ago. On November 17, baidu just announced that it had signed a final binding agreement with huanju group to wholly acquire the domestic live broadcasting business of huanju group, including but not limited to YY mobile applications, mobile applications, mobile phones, mobile phones and mobile phones YY.com Website, YY PC client, etc. The total transaction amount is about US $3.6 billion, and the transaction is expected to be completed in the first half of 2021. After the acquisition of YY live broadcast, the products, technology, team, anchor and guild ecology of YY live will belong to Baidu. < p > < p > on the same day, the third quarter of 2020 financial report released by huanju times showed that the total revenue of this quarter reached 6.286.4 billion yuan, an increase of 36.1% year-on-year, exceeding the upper limit of the company's guidelines and the average expectation of Wall Street analysts. Under non-U.S. GAAP, the net profit of this quarter's reunion reached 809.4 million yuan, up 64% year-on-year. At the same time, the number of mobile monthly active users reached 390.1 million. As of the third quarter of 2020, the cash and cash equivalents and short-term deposit reserve of huanju reached 24.469.7 billion yuan. < p > < p > < p > in the financial report, bigo, its overseas business, continues to maintain rapid growth and has become an important support for huanju's global strategy. In the third quarter of 2020, bigo's revenue will reach 3394.8 billion, including 3.28 billion live broadcast revenue, up 131% year-on-year. In developed countries, the growth rate of bigo's live broadcasting revenue reached 272%, of which the European market increased by 270% and the eastern Pacific region increased by 231%. Data from app Annie also showed that, by combining IOS and Google play data, bigo live ranked fifth in the global non Game App revenue in October, up one place from September. < p > < p > response: the report contains a large number of errors < / P > < p > as of November 16, the share price of huanju was US $95.58, which has been up 81.72% this year. After the financial report was released, the shares rose 5.71% to US $101.04 as of 9:00 Beijing time on November 17. However, after the short report was released, the shares of happy gathering times fell by 26.48% to $73.66. < / P > < p > Baidu was also affected, with its share price down 1.29%. < p > < p > on the afternoon of 19, when huanju times responded to the short report, it said that muddy water's report was full of ignorance of the live broadcasting industry and the live broadcasting ecology, and the report contained a lot of errors due to its unclear logic, chaotic data and partial generalization. (reporter Wen Jing)