BEIJING, Dec. 8, 2011 /PRNewswire-Asia/ -- Qihoo 360
Technology Co. Ltd. ("Qihoo 360" or the "Company," NYSE: QIHU), the
leading Internet company in China
as measured by active user base, once again rejects a series of
allegations made since November 1,
2011 by Citron Research who has admitted that it stands to
profit from a drop in the share price of the Company.
Qihoo 360 stands by all of the information contained in its
filings with the U.S. Securities and Exchange Commission. The
Company reiterates that Citron's commentary contained numerous
errors of fact and groundless speculations and lacked understanding
of China's internet sector and of
the Company's business model.
Qihoo 360 is dedicated to continuing open and transparent
communications with investors, security analysts and the public.
The Company welcomes opportunities for direct dialog with all
parties that are genuinely interested in gaining a better
understanding of the Company's business model, operations, or the
Chinese internet industry.
Qihoo 360 intends to protect its reputation and the interests of
its shareholders, and reserves legal rights against any
deliberately false accusation or personal attack.
About Qihoo 360
Qihoo 360 Technology Co. Ltd. is a leading internet company in
China as measured by its active
user base. The Company is also the number 1 provider of internet
and mobile security solutions in China as measured by its active smartphone
user base, according to iResearch. Qihoo 360 also provides users
with secure access points to the internet via its market leading
web browsers and application stores. The Company has built one of
the largest internet open platforms in China. Qihoo 360 monetizes its massive user
base primarily through online advertising and through internet
value-added services on its open platforms.
Forward-looking Statements
This press release contains statements of a forward-looking
nature. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. You can identify these forward- looking statements by
terminology such as "will," "expects," "believes," "anticipates,"
"intends," "estimates" and similar statements. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations, assumptions,
estimates and projections about Qihoo 360 and the industry.
Potential risks and uncertainties include, but are not limited to:
the Company's ability to continue to innovate and provide
attractive products and services to attract and retain users; the
Company's ability to keep up with rapid changes in technologies and
Internet-enabled devices; the Company's ability to leverage its
user base to attract customers for our revenue-generating services;
and the Company's dependence on online advertising for a
substantial portion of our revenues; and the Company's ability to
compete effectively. All information provided in this press release
is as of the date of the press release, and Qihoo 360 undertakes no
obligation to update any forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although Qihoo 360
believes that the expectations expressed in these forward-looking
statements are reasonable, it cannot assure you that its
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results. Further information regarding risks and
uncertainties faced by Qihoo 360 is included in Qihoo 360's filings
with the U.S. Securities and Exchange Commission, including its
final prospectus dated March 29,
2011.
For investor and media
inquiries, please contact:
Qihoo 360 Technology Co.
Ltd.
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Tel: +86
10-5878-1574
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E-mail: ir@360.cn
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Christensen
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Mr. Christian Arnell
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Tel:
+86 10-5826-4939
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E-mail: carnell@ChristensenIR.com
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SOURCE Qihoo 360 Technology Co. Ltd.