Core Viewpoint - The former executive of 360, Yu Hong, publicly accused the company's founder Zhou Hongyi of large-scale financial fraud, claiming to have evidence of significant financial misconduct [1][2]. Group 1: Allegations and Responses - Yu Hong alleged that he helped Zhou Hongyi falsify accounts by at least several billion yuan and stated that 360 may have inflated its gaming revenue through false recharge methods [2]. - In response to the allegations, 360 issued a statement denying any wrongdoing, asserting that the company operates in compliance with laws and regulations, and that its financial status is transparent and healthy [4][5]. - 360 clarified Yu Hong's background, noting that he had never held a core management position within the company and had left for personal reasons after a brief tenure [5]. Group 2: Market Impact - Following the allegations, 360's stock price fell by 5.07%, closing at 10.86 yuan per share, resulting in a market capitalization decrease to 760.15 billion yuan [3]. - The company emphasized that its gaming business revenue recognition complies with accounting standards and that all financial data has been audited without reservations [5]. Group 3: Background of Yu Hong - Yu Hong was previously the founder of Gamewave, which was acquired by 360 over a decade ago, and he later joined 360, where he was involved in various projects [6]. - His reputation suffered after the XMax blockchain project faced allegations of fraud, leading to significant criticism from investors [7].

Core Viewpoint - The article discusses allegations made by Yu Hong, a former senior vice president of 360, against Zhou Hongyi, claiming financial misconduct within the company, which Zhou has vehemently denied [1]. Group 1: Allegations and Responses - Yu Hong accused Zhou Hongyi of being involved in financial fraud, stating he has evidence of at least tens of billions in false accounting [1]. - Zhou Hongyi responded by stating that Yu Hong never held a core management position at 360 and that his claims of financial misconduct are completely unfounded [1]. - 360 Group emphasized its commitment to compliance, stating it adheres to national laws and regulations, and undergoes regular audits by authoritative institutions [1]. Group 2: Background Information - Yu Hong joined 360 after the acquisition of Qiyou Group in 2014 and was involved in various projects, including the incubation of Huajiao Live and the Sogou acquisition [1]. - 360 Group announced plans to take legal action against Yu Hong for defamation to protect its reputation and legal rights [1].

Core Viewpoint - The former senior vice president of 360, Yu Hong, has made serious allegations against Zhou Hongyi, claiming that he can prove financial fraud involving billions in gaming revenue, which he intends to disclose publicly [6][12]. Company Background - Yu Hong joined 360 after the acquisition of Qiyou Group in 2014 and served as a senior vice president, overseeing the gaming business alongside Chen Jie [6][12]. - During his tenure at 360, Yu Hong was involved in the incubation of projects such as Huajiao Live and played a role in the Sogou acquisition [6][12]. Allegations - Yu Hong stated in group chats that he has data to support his claims of financial misconduct, asserting that Zhou Hongyi's gaming operations have engaged in financial fraud amounting to at least tens of billions [6][12]. - He emphasized that he has not been hacked and stands by his statements regarding the alleged financial irregularities [6][12]. Company Response - 360 has not provided any comments or responses to the allegations made by Yu Hong when approached by media outlets [6][12].