Chinese Business Leaders Condemn Citron

Posted by The Citron Fraud Examiners on September 3, 2012 under The Truth | 1,323 Comments to Read

Chinese Business Leaders Condemn Citron

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Citron is an “investment analysis company” owned by Mr. Andrew Left, a man with a long record of fraud, deceit, and unlawful behavior. Citron’s reports take advantage of the information asymmetry between China and the US, and boldly tell lies, knowing that their American readers have no way of verifying them.  

We are investment professionals and company founders/executives in China.  We are joining together in this effort to expose and condemn the deception and ignorance of Citron and other short sellers like them.  This English website (citronfraud.com) is being created to host this ongoing fight against fraud. 

We urge investors to seek trustworthy professionals for investment advice regarding Chinese companies, and not rely on institutions and individuals with fraudulent history, falsified expertise, and interest conflict.

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To Whom It May Concern:

For the past few years, a number of “China Short Sellers” have been publishing negative reports on Chinese companies (typically listed in the US).  When these reports were accurate and discovered problems in the Chinese companies, they have helped cleanse the environment.

However, recently some of these “China Short Sellers” started targeting legitimate companies with either no problems or minimal problems.  Their reports would take advantage of the information asymmetry between China and the US, and boldly tell lies, knowing that their American readers have no way of verifying them.  An example of such a report is Short Seller Citron Research’s report “Qihoo’s entry into search puts SOHU in play“, which has been critiqued by Dr. Kai-Fu Lee in his “China Short Sellers: Exposing Fraud, or Practicing Fraud?” We applaud Dr. Lee’s accurate exposure of Citron’s seven errors of gargantuan proportions.

We are investment professionals and company founders/executives in China.  We strongly believe there is a huge pool of legitimate, exciting, and valuable companies in China.  Citron and other short sellers’ recent efforts to slam legitimate companies and deceive investors are despicable.  We are joining together to expose and condemn the deception and ignorance of Citron and other short sellers like them.  This English website (citronfraud.com) is being created to host this ongoing fight against fraud.

Finally, China is not well understood by foreign investors, so we urge investors to seek trustworthy professionals for investment advice regarding Chinese companies, and not rely on institutions and individuals with fraudulent history, falsified expertise, and serious interest conflict.

Signed on behalf of individuals (listed alphabetically within each group):

Investment Companies
Bai Wentao, Founding Partner, Share Capital
Cha Li, Founding Partner, iStart Ventures LLC
Chen Datong, Managing Partner, West Summit Capital
York Chen, Managing Partner, IDTech Ventures
Cadol Cheung, Founding Partner, Fuel Capital
David Ho, Founder & Chairman, Kiina Ventures
Kai-Fu Lee, Chairman & CEO, Innovation Works
Li Yunlong, TusPark Ventures
James Mi, Managing Partner, Lightspeed Ventures
Gavin Ni, Managing Partner, Zero2IPO Ventures
Lawrence Pan, Founding Partner, China SageWater Capital, Inc.
Xu Xiaoping, Managing Partner, Zhen Fund
Charles Xue, Angel Investor
Andy Yan, Founding Partner, SAIF
Raymond Yang, Founding Partner, WestSummit Capital
Ye Don, Tsing Capital
Charles Yen, Vice Chairman, Vincera Capital
Jeffrey Zeng, Senior Managing Director, Citic Capital
Zhou Wei, Partner, Kleiner Perkins Caufield & Byers
David Zhang, Managing Partner, Matrix Partners
Allen Zhu, Partner, GSR Ventures

Company Executives
FENG Jun, Chairman & CEO, Aigo
GONG Haiyan, Founder & Co-CEO, Jiayuan.com
Alan GUO, Chairman & CEO, Lightinthebox.com
HE Boquan, Founder, Le Bai Shi (Robust)
JIANG Tao, President, CSDN
Ricky LEI, CEO, Hinge Software
LI Ya, COO, Phoenix New Media
Alvin LIU, Chairman & CEO, A8 Music Holdings, Ltd.
Richard LIU, Chairman & CEO, 360Buy.com
LIU Wei, President, Giant Interactive
NIU Wenwen, President & Chief Editor, Entrepreneur Magazine
Hera SIU, President, SAP China
SONG Jun, Chairman, AMAA(Beijing)
SUN Taoran, Chairman & President, Lakala
TAN Zhi, Former President, Focus Media
WANG Xiaochuan, CTO of Sohu.com and CEO of Sogou
Charles WU, Vice President, IBM Greater China
Nick YANG, co-Founder, Kongzhong
YANG Xiangyang, Chairman, Yuanzheng Ventures
YU Minhong, Chairman & CEO, New Oriental
ZHANG Ya-Qin, Mentor , AMAA
ZHOU Hongyi, Chairman & CEO, Qihoo 360

Investment Banking & Analysis/Consulting
Bao Fan, Chairman & CEO, China Renaissance
Chen Hong, Chairman & CEO, Hina Group
Wang Ran, Chairman & CEO, eCapital
Henry Yang, Chairman & CEO, iResearch

Entrepreneurs
Dai Kun, CEO, Comhui.com
Huang Guangming, CEO, Manboker
Lai Weixiao, CEO, Seeyoo
Evan Shen, CEO, Byban
Song Yanlin, CEO, Nanothink
Wang Yu, CEO, Shanghai Yuking Chemtech Co. Ltd
Xie Lei, CEO, Ormita Commerce Network
Xi Ming, CEO, Hunan Century-Express
Xu Hailing, CEO, Kiel Technology (HongKong) Ltd
Zeng Weijing, CEO, Tmimi
Zeng Zhaoxia, CEO, Cheeris
Vinson Zhang, CEO, Heroitte Analytics
Zhao Pu, CEO, O.C.T.mami
Zhao Xuesong, CEO, Mowidi
Allen Zhao, CEO, Earth&People
Zhou Xiang, CEO, Kancart
Zhu Nathan, CEO, Suzhou Langran Network Technology Co. Ltd
Zuo Lei, CEO, ThinkLand

 

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