Yesterday (September 19) morning, there was news that the Lexus Holdings held by Jia Yueting had reached a debt settlement of more than 50 million with LeTV Mobile's more than 50 suppliers. The suppliers who previously had debt collection at LeTV Building had already left. At 5 pm on the same day, a reporter of the "Daily Economic News" arrived at Le Shi Mansion and found that a man claiming to be a debt collector at the scene wanted to enter the building to collect debts, but was stopped by security. It is understood that this person is a supplier of Leshi Mall. LeTV owes it 1.75 million yuan. On-site security revealed to reporters that large-scale debt collectors have already left, especially the debt collectors who had been lying in the lobby of the building for several months before leaving on Friday.
LeTV said to reporters that it has reached over 100 million yuan in debt repayment solutions with dozens of small and medium-sized stores in China. In response, Liu Buchen, a senior observer of the home appliance industry, told reporters that due to the long period of arrears and the negative impact, it is more like a symbolic repayment for the dulling of the Letvision Tower.
It is worth noting that the sub-economy left behind by "Old LeTV" is facing fate choices. In the afternoon of September 19th, a company called Habitat Entertainment announced that it will acquire music video games.
“Please ask LeTV for some timeâ€
LeTV Mobile told the “Daily Economic News†reporter that it has reached over RMB 100 million in debt repayment solutions with dozens of small and medium-sized store builders across the country, and the remaining small and medium-sized store builders (debt problems) also Will be resolved in the next time.
In addition, the relevant person in charge of LeTV Holding presented to the reporter of “Daily Economic News†a letter of appreciation from the mobile supplier that was covered by the company's official seal. Prior to this, Jia Zong (Jia Yueting) promised to “due diligently†in the end. Return all financial institutions, suppliers, and any owed money. Now, the company is implementing it with practical actions. Please give music to the outside world for some time. The company will fulfill its obligations in the end and will surely solve the debt problem.
However, the reporter noticed that there was a certain discrepancy between the "thank you in a collective signature" reported by the media and there was no signature on it. According to Tencent Financial, 20 negotiators of LeTV’s mobile suppliers stated that as of 9:00 am on September 19, they had not received the repayment of Jia Yueting, nor did they sign the letter of appreciation.
In this regard, LeTV’s relevant sources stated that many people who have a solution can still understand it. Everyone hopes to return to music.
In other words, the Levision Holding and LeTV mobile suppliers have reached a plan to promise repayment. In the eyes of industry professionals, LeTV chose to disclose repayment information and its attitude was greater than actual action.
In the face of continuing funding problems, LeTV’s brand and reputation continue to depreciate. On September 12th, LeTV Holdings and LeTV Mobile were listed by the Second Intermediate People's Court of Tianjin as the untrustworthy executor, which is usually referred to as “Lao Laiâ€.
Three days later, some netizens stated on Weibo that during lunchtime, a friend met Jia Yueting, a founder of LeTV and LeTV Holdings, at a tea restaurant in Hong Kong. At that time, the relevant person in charge of LeTV Holdings stated to the public that “Lokvision Holdings had just learned of the news of Jia to Hong Kong. There are two main issues for Jia to Hong Kong. One is to fully solve the problem of LeTV’s unlisted system debt and further advance the implementation of the plan; It is for the auto business, especially the financing of FF, to meet with investors and negotiate."
In this regard, Liu Buchen believes that Jia Yueting’s possibility of successful financing is very small.
LeTV "sells" for transformation
It is worth mentioning that September 19 has special significance for LeTV.
On September 19 last year, many entertainment stars and sports athletes debuted the “919 Music Carnival Night†for LeTV and Jia Yueting. In times of trouble, LeTV, led by LeTV CEO Liang Jun, announced on September 12th this year that it would launch “919 Super TV Day†to replace the previous music shopping festival featuring “buy member sending hardwareâ€. Liang Jun said that the "New 919" is an important step for the new LeTV to try to change. In the future, the new LeTV will be transformed into a new retail sale with LePar.
However, LeTV's mid-2017 report shows that the company’s net profit for the first half of the year was a loss of 637 million yuan. As the best quality asset of LeTV, LeTV.com’s revenue revenue, terminal income, and member income in its major revenue components have fallen significantly. In particular, Sunac China's promising terminal business is facing the overall weakness of the TV market. According to data from Ove Cloud Network, in the first half of this year, the market share of Internet TV brands declined by 4% year-on-year.
Liu Buchen, a senior observer of the home appliances industry, believes that LeTV only made great efforts to promote television because of strong propaganda and the low-cost strategy. There is no advantage in terms of hardware and content, and there is no publicity. This is not surprising.
In the face of the predicament, Sun Hongbin, the new chairman of LeTV, seems to have begun planning for the new LeTV. Yesterday, Haze Entertainment held a press conference in Beijing and announced that it formally acquired 100% of Levision games in cash. The relevant person in charge of hail and entertainment said that the acquisition of music video games is mainly intended to enter the home entertainment market faster. LeTV said that the cooperation is mainly focused on IP, social networking, and cloud gaming.
Dong Meng, the person in charge of the LeEco game, said in an interview with the reporter of the “Daily Economic News†that the two parties are still operating and the LeEco game will not be 100% acquired, but it is not ruled out that most of the acquisitions will be made. “The reason why it is currently acquired is mainly because LeTV's overall environment is not very optimistic. If last year, there would be no action to be acquired. At that time, LeTV's game valuation is between RMB 1.6 billion and 2 billion.â€
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