WeChat: Platform To Squash Defamation of Corporate Image & Reputation, Dissemination of False Info

　　The Cyberspace Administration of China (CAC) recently organized a project action “Clearing and Optimizing the Business Network Environment - Remediating the Chaos of Infringing Information Involving Enterprises”. As such, a number of accounts spreading rumors and denigrating NONGFU SPRING (09633.HK) +0.450 (+1.136%) Short selling $17.21M; Ratio 14.403% and LI AUTO-W (02015.HK) +2.850 (+4.045%) Short selling $113.82M; Ratio 17.797% were shut down in accordance with the law.

　　WeChat announced that it will actively launch project remediation actions on the platform, focusing on combating non-compliant contents and behaviors, such as smearing and denigrating the image and reputation of enterprises, concocting and disseminating false and inaccurate information, extorting and blackmailing for illegal benefits, disrupting the order of production and operation of enterprises, and maliciously speculating on public information related to enterprises.

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　　WeChat will further clean up the platform of false and inaccurate information about enterprises and entrepreneurs, crack down on malicious speculation, and dispose of content and accounts that infringe on the legitimate rights and interests of enterprises and entrepreneurs in accordance with the law. The platform also reminds users not to use popular events as marketing tools, to speak rationally, and to refrain from rumor mongering.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-26 16:25.)