BEIJING, May 29, 2020 /PRNewswire/ -- GSX Techedu Inc.
(NYSE: GSX) ("GSX" or the "Company"), a leading online K-12
large-class after-school tutoring service provider in China, today refuted the false allegations in
Muddy Waters Research's latest 6-page report, dated May 28, 2020. After thoroughly analyzing the
report, the Company would like to respond to some of the specific
1. Missing "agent_id",
"agent_policy", and "timestamp"
The missing "agent_id" and "agent_policy" that Muddy Waters
alleges are indexing and message processing codes added by an
output server, not included in the input server. Datasets stay
unprocessed in the input server (picture 1) until they get
processed by the output server (picture 2), but both lead to the
same conclusion, which proves the allegations on bot behaviors from
Muddy Waters are wrong.
The Company herein displays a log screenshot (picture 2) from
the same output server as Muddy Waters does, which includes
"agent_id", "agent_policy", and "timestamp", and validates the
accuracy of GSX's previous responses.
2. Precise Joiners, GSX IP Joiners, Burst Joiners
and Early Joiners
The Company already provided detailed clarifications on those
user behaviors in the previous press release.
3. Job posts for engineers to develop and
GSX's staff rely heavily on cellphones to communicate daily with
students and parents. In line with the rapid growth in both
students and employees, the Company requires enough engineers to
conduct daily maintenance of cellphones, to improve communications
efficiency and enhance cost control. That work has nothing to do
with maintaining bot farms.
GSX remains committed to maintaining the highest standards of
corporate governance, as well as transparent and timely disclosure
in compliance with the applicable rules and regulations of the SEC
and the NYSE. The Company remains focused on further developing its
business, better serving its students, and creating value for
shareholders over the long term.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. GSX may also make
written or oral forward-looking statements in its reports filed
with, or furnished to, the U.S. Securities and Exchange Commission,
in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement. Further information
regarding these and other risks is included in the Company's
reports filed with, or furnished to the U.S. Securities and
Exchange Commission. All information provided in this press release
and in the attachments is as of the date of this press release, and
GSX undertakes no duty to update such information or any
forward-looking statement, except as required under applicable
GSX is a technology-driven education company and leading online
K-12 large-class after-school tutoring service provider
in China. GSX offers K-12 courses covering all primary and
secondary grades as well as foreign language, professional and
interest courses. GSX adopts an online live large-class format to
deliver its courses, which the Company believes is the most
effective and scalable model to disseminate scarce high-quality
teaching resources to aspiring students in China. Big data
analytics permeates each aspect of the Company's business and
facilitates the application of the latest technology to improve
teaching delivery, student learning experience, and operational
For further information, please contact:
GSX Techedu Inc.
Ms. Sandy Qin, CFA
Mr. Christian Arnell
Ms. Linda Bergkamp
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SOURCE GSX Techedu Inc.