365平台APP下载之所以缺少BEKE,是因为365平台APP下载认为本公司涉嫌系统性欺诈, 据365平台APP下载估计,其新屋销售GTV膨胀超过126% and its commission revenues by approximately ~77–96%.  We found massive discrepancies between the transaction volumes, store count and agent count reported to investors and the transaction data from our multi-month data collection program from BEKE’s platform.  365平台APP下载对BEKE的门店进行了初步尽职调查,并抽查了调查结果,证实了这些不符之处, including field interviews and site visits.

BEKE’s mantra, oft repeated on Company earnings calls, is “doing the right thing, even if it is difficult.”  Nothing could seem further from the truth.  Put simply, we found massive fraud, including a likely sham acquisition seemingly designed to mask the fraudulent revenues.  Our field work found ghost stores, clone stores 此外,还有一些未披露的计划,通过关联经纪公司往返支付现金,以增加收入.  与瑞幸咖啡类似,这是一家存在大量欺诈的真实企业.

Terms of Use

本网站上的报告是由浑水公司(Muddy Waters)编写的, 或Muddy Waters Capital LLC(“Muddy Waters Capital”). We refer to Muddy Waters Research and Muddy Waters Capital collectively as “Muddy Waters” and individually these entities are referred to as a “Muddy Waters Entity”. Each report specifies the publisher and owner of that report. All reports are for informational purposes only. 在任何情况下,本报告中的任何报告或任何信息都不应被视为投资建议, 或作为出售或招揽购买任何证券或其他金融工具的要约.

Muddy Waters Research is an online research publication that produces due diligence-based reports on publicly traded securities, Muddy Waters Capital LLC是一家在美国注册的投资顾问公司.S. Securities and Exchange Commission. 这些报告属于发布该报告的适用Muddy Waters实体的财产. This website is owned by Muddy Waters Research. The opinions, information and reports set forth herein are solely attributable to the applicable Muddy Waters Entity and are not attributable to any Muddy Waters Related Person (defined below) (other than the applicable Muddy Waters Entity).

从本网站下载或浏览资料,即表示您同意以下使用条款. 您同意,使用本网站上的研究成果的风险由您自行承担. 您(或任何您作为代理人的人)同意持有无害的Muddy Waters Research, Muddy Waters Capital and its affiliates and related parties, including, but not limited to any principals, officers, directors, employees, members, clients, investors, consultants and agents (collectively, the “Muddy Waters Related Persons”) for any direct or indirect losses (including trading losses) attributable to any information on this website or in a research report. You further agree to do your own research and due diligence before making any investment decision with respect to securities of the issuers covered herein (each, a “Covered Issuer”) or any other financial instruments that reference the Covered Issuer or any securities issued by the Covered Issuer. 你表示你有足够的投资经验来批判性地评估信息, analysis and opinion on this website. You further agree that you will not communicate the contents of reports and other materials on this site to any other person unless that person has agreed to be bound by these Terms of Use. If you access this website, 请自行下载或接收本网站报告或其他资料的内容, you agree to and shall be bound by these Terms of Use. If you access this website, 代理他人下载或接收本网站报告或其他材料的内容, you are binding your principal to these same Terms of Use.

You should assume that, as of the publication date of a Muddy Waters report, 浑水相关人员(可能与其成员一起或通过其成员), partners, affiliates, employees, and/or consultants), Muddy Waters Related Persons clients and/or investors and/or their clients and/or investors have a position (long or short) in one or more of the securities of a Covered Issuer (and/or options, swaps, 以及与一种或多种此类证券相关的其他衍生品), and therefore stand to realize significant gains in the event that the prices of either equity or debt securities of a Covered Issuer decline or appreciate. Muddy Waters Research, Muddy Waters Capital and/or the Muddy Waters Related Persons intend to continue transacting in the securities of Covered Issuers for an indefinite period after an initial report on a Covered Person, and such person may be long, short, or neutral at any time hereafter regardless of their initial position and views as stated in the research report published by Muddy Waters Research or Muddy Waters Capital. Neither Muddy Waters Research nor Muddy Waters Capital will update any report or information on its website to reflect changes in positions that may be held by a Muddy Waters Related Person.

这不是一个出售或邀请购买任何证券的要约. 365平台公司(Muddy Waters Research)和任何浑水相关人士(包括浑水资本(Muddy Waters Capital))都没有提供, 通过本网站或本网站的报告向或从任何人出售或购买任何证券. Muddy Waters Research is affiliated with Muddy Waters Capital. Muddy Waters Capital is an investment adviser with the U.S. 并没有在任何其他司法管辖区注册为投资顾问. Muddy Waters Capital does not render investment advice to anyone unless it has an investment adviser-client relationship with that person evidenced in writing. You understand and agree that Muddy Waters Capital does not have any investment advisory relationship with you or does not owe fiduciary duties to you. 提供投资建议需要了解自己的财务状况, investment objectives, and risk tolerance, and Muddy Waters Capital has no such knowledge about you.

If you are in the United Kingdom, you confirm that you are accessing research and materials as or on behalf of: (a) an investment professional falling within Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FPO”); or (b) high net worth entity falling within Article 49 of the FPO (each a “Permitted Recipient”). In relation to the United Kingdom, 本网站的研究和材料只发布给, and are directed only at, persons who are Permitted Recipients and, 在不影响本使用条款中列出的任何其他限制或警告的情况下, persons who are not Permitted Recipients must not act or rely on the information contained in any of the research or materials on this website.

本网站提供的研究和报告仅表达适用的浑水实体的意见. Reports are based on generally available information, field research, 通过适用的浑水实体的尽职调查和分析过程进行推断和推断. 以适用的浑水实体的能力和信念, all information contained herein is accurate and reliable, 并已从适用的浑水实体认为准确可靠的公共来源获得, 并不是所涵盖发行人的内部人士或关联人士,或可能负有受托责任的人, (直接或间接)对承保发行人的保密义务或任何其他义务. However, such information is presented “as is,” without warranty of any kind, whether express or implied. With respect to their respective research reports, 365平台公司(Muddy Waters Research)和浑水资本公司(Muddy Waters Capital)没有提供任何代表, express or implied, as to the accuracy, timeliness, 或任何此类信息的完整性,或365平台使用这些信息所获得的结果. 此外,这个网站上的任何报告都包含大量的分析和意见. All expressions of opinion are subject to change without notice, and neither Muddy Waters Research nor Muddy Waters Capital undertakes to update or supplement any reports or any of the information, analysis and opinion contained in them.

In no event shall Muddy Waters Research, Muddy Waters Capital或任何Muddy Waters关联方应对任何索赔承担责任, losses, costs or damages of any kind, including direct, indirect, punitive, exemplary, incidental, special or, consequential damages, 因本网站的任何资讯而产生或以任何方式与本网站的任何资讯有关. 本责任限制适用于Muddy Waters Research的任何过失或重大过失, Muddy Waters Capital or any Muddy Waters Related Persons. 您接受依赖本网站信息的所有风险.

You agree that the information on this website is copyrighted, 因此,您同意不分发此信息(无论下载的文件, copies / images / reproductions, 或这些文件的链接)以外的任何方式,提供以下链接:http://www.tds9203.com/research/. If you have obtained research published by Muddy Waters Research or Muddy Waters Capital in any manner other than by download from that link, 如果您不访问该链接并同意使用条款,您可能不会阅读此类研究. You further agree that any dispute between you and Muddy Waters Research and its affiliates arising from or related to this report and / or the Muddy Waters Research website or viewing the material hereon shall be governed by the laws of the State of California, without regard to any conflict of law provisions. You knowingly and independently agree to submit to the personal and exclusive jurisdiction of the state and federal courts located in San Francisco, 并放弃你对其他司法管辖区或适用法律的权利, 因为365平台公司及其附属公司的总部设在旧金山, California. The failure of Muddy Waters Research or Muddy Waters Capital to exercise or enforce any right or provision of these Terms of Use shall not constitute a waiver of this right or provision. 您同意,每个浑水关联人都是本使用条款的第三方受益人. 如果本使用条款的任何规定被有管辖权的法院裁定无效, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision and rule that the other provisions of these Terms of Use remain in full force and effect, 特别是365平台本适用法律和管辖权条款. 你同意,无论任何法令或法律的相反, any claim or cause of action arising out of or related to this website or the material on this website must be filed within one (1) year after the occurrence of the alleged harm that gave rise to such claim or cause of action, or such claim or cause of action be forever barred.