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  "documentTitle": "GSX Techedu (GSX)",
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  "authorName": "Carson C. Block",
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  "presentationDate": "2020-05-28 00:00:00",
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  "notes": "This is a research note from Muddy Waters Research regarding GSX Techedu.",
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      "text": "Therefore, this is not usable data. Investors need look no further to know GSX is screwing with them.",
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      "text": "GSX's WeChat response contains techno-drivel, and appears intended to appear authoritative when it includes the below screen shot of GSX's purported queries to analyze Precise Joiners and Burst Joiners.",
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      "text": "GSX's responses since consist largely of drivel, designed to obfuscate and lie. We maintain our view that GSX is a massive fraud - i.e., it is a nearly empty box.",
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      "text": "However, the screenshot prima facie shows GSX is obfuscating its presentation. It omits three important fields: \"agent_id\", \"agent_policy\", and the crucial \"timestamp\".",
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      "text": "On May 18th, we published our research on GSX in which we concluded that at least 70% of GSX's purported users are fraudulent, and quite likely the real percentage of fake users is over 80%.",
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      "text": "The selection for this channel for the more detailed reply appears intended to help Chairman Larry Chen protect his personal reputation in China, rather than provide more or useful information to international investors and shareholders.",
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      "text": "1 See Muddy Waters' May 18, 2020 report, pp. 10-13. 2 https://www.prnewswire.com/news-releases/gsx-refutes-muddy-waters-research-allegations-301061639.html 3 WeChat is primarily used by Chinese speaking users... 4 https://mp.weixin.qq.com/s/8ekeJKN2n8tPXWwP9jxmqg",
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      "text": "GSX Gives the Finger to its Investors",
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      "text": "GSX: Small Classes, Big Lies",
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