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KUAISHOU-W Sincerely Accepts, To Resolutely Rectify After Being Fined ~RMB120M by Beijing Municipal Cyberspace Administration
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In response to the recent surge of pornographic and vulgar content livestreams on KUAISHOU-W (01024.HK)'s platform, the Beijing Municipal Cyberspace Administration, under the guidance of the Office of the Central Cyberspace Affairs Commission, initiated an investigation into Beijing Kuaishou Technology Co., Ltd. for suspected illegal activities. In accordance with relevant laws and regulations, Beijing Kuaishou Technology Co., Ltd. was issued a warning and fined RMB119.1 million. The Company has also been ordered to rectify violations within a specified timeframe, handle accounts in accordance with laws and agreements, and strictly discipline responsible personnel. Upon investigation, it was confirmed that KUAISHOU-W's platform failed to fulfill its cybersecurity protection obligations. It did not promptly address security risks such as system vulnerabilities and did not immediately take measures to stop the transmission and remove illegal information posted by users, etc.. The circumstances are serious and the impact is detrimental. KUAISHOU-W stated in its response to the penalty that the Company sincerely accepts the decision and is committed to rectifying the issues. Due to technical management reasons, the Company failed to respond promptly to emergencies, resulting in a large amount of pornographic and vulgar content appearing on the platform, thereby causing a negative impact. The Company deeply regrets this and expresses its sincere apologies. Following the incident, a comprehensive review was conducted to identify problems in ways like risk awareness, security infrastructure, emergency response and internal management, and proactive measures have been taken to address these shortcomings. AAStocks Financial News Website: www.aastocks.com |
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