Reading: In the face of the current situation of LeTV, Liang Jun said, "I want to do all my power. I am either in a good state of mind, or I sleep with sleeping pills."
In the case of Liang Junshi, we must first pass through the gap between the tents built by the debt collectors in LeTV Building. This scene is the current CEO of LeTV.com.
"Jia Yueting repays the money and LeTV pays back the money," and every time he goes off work, the high-decibel loudspeakers will last for nearly an hour. The girl at the front desk was comfortable with the noise of high decibels, and Jia Yueting, who was called for by the debt collectors, had gone to work on the 16th floor of LeTV Building. He now has been abroad for more than 70 days.
LeTV CEO Liang Jun. Beijing News reporter Wu Jiangshe
Liang Jun’s office was on the 15th floor of LeTV Building and had just moved to a new office last week. There was not much decoration except for the two tables. "I don't care about the image right now. I want to do business well."
Liang Jun, who took over LeTV’s CEO from Jia Yueting, has officially taken office for nearly four months. As a professional manager, he has been doing a cutting of LeTV and Jia Yueting, and LeTV's listed company system and non-listed companies. System cutting. Before receiving an exclusive interview with the Beijing News reporter, Liang Jun spent more than 10 days in a busy business trip and met with LeTV to create new suppliers and rebuild trust.
In addition to "cutting," Liang Jun will also lead the new music as the advance. Liang Jun lamented that originally Jia had no idea what to do with the money. Today we not only have to do business, we must also consider funds. This is a challenge for me.
Lack of money has always been a difficult problem for LeTV. When LeTV CEO Liang Jun accepted an interview with the Beijing News on September 13th, he did not shy away from this. What is worth remembering is that on January 15, when Sun Hongbin strategically invested in LeTV, he said that the only problem with LeTV was the lack of money, and that it was easy to manage the lack of money.
Join LeTV for a five-year change
In the face of the current situation of LeTV, Liang Jun said, "I want to do all my power. I am either in a good state of mind, or I sleep with sleeping pills."
"Jiayue Ting returns home next week." This is a ridicule for Jia Yueting on the social networking site. Jia Yueting went to the United States so far, more than 70 days have passed. This left a mess on successor Liang Jun. Before being interviewed by reporters, Liang Jun has been intensively visiting for more than ten consecutive days, visiting television suppliers across the country to eliminate as much as possible distrust of LeTV.
In the face of the past, in the face of intricate "cutting" work, Liang Jun stiffened and said, "I want to do everything I can. Either have a good attitude or sleep with sleeping pills." The music next to jokes as an executive said, from Jia Yueting In 2014, when I left Hong Kong and went far away from the United States, I’ve been working in LeTV for a few years. Liang Jun said with a smile, not so exaggerated, music as the Lenovo Lenovo 10 years.
Before joining LeTV in 2012, Liang Jun worked for Lenovo Group for 17 years. Joining LeTV was his first career.
Liang Jun once introduced that he graduated from graduate school and entered Lenovo. He witnessed the most glorious process of PC from 1995 to 2000 and was later responsible for Lenovo's server business. "Lenovo's server business was actually built by me. We did a server business for about seven or eight years. Within Lenovo, I jumped to the mobile phone business in 2007. After a few years, it was still in the mobile internet, but still Around the hardware."
"I am a company that belongs to a different kind of company. I am very eager to have the opportunity to understand the Internet company in the end how to do it." Liang Jun introduced. In 2012, he joined LeTV under the influence of Jia Yueting. This was his first job-hopping. In this regard, Liang Jun admitted in an interview that he was also a restless person.
In Jia Le Ting's previous build of music as the seven sons of ecology, Liang Jun occupied a seat to do super TV business. On Super TV, LeTV totally gave up following other people's gameplay and rediscovered new rules and gameplay according to their own ideas. Hardware is free of charge is Levin's product line of thought.
LeTV New (mainly Super TV) is also a relatively high-quality asset in LeTV. Liang Jun also stands out from the leaders of the seven sub-ecosystems.
A person working at Liang Jun said that Liang Jun was steady and mature. According to public information, Liang Jun was born in 1970 and Sun Hongbin was born in 1963. “He and Sun Hongbin and Zhang Zhao are actually the communication methods of adult men. Believe that we must do our own work, not to gloss over the data. Their generation of people resonated with many values."
Interviewed with Jia Yueting over 70 days and counted the "old account"
Liang Jun said Jia Yueting is looking for suitable assets to repay listed companies
Although it has not returned for more than 70 days, LeTV's 3.8 billion accounts receivable has allowed Jia Yueting to become an absent “key player.â€
In an inquiry letter on May 5, the Shenzhen Stock Exchange pointed out that in 2016 the company changed the sales model of Super TV, and LeTV's related party transactions increased in 2016. At the end of the period, the balance of related party receivables amounted to RMB 3.8 billion.
“I haven’t seen him for 70 days. There must be some communication. Jia’s disposal of connected transactions is still positive. The core is that he must be able to repay and find the right assets to repay the listed company. Now it is in progress, the SFC. We are still actively staring at us to solve the problem than you. As soon as we have finished processing, there will be an official announcement." Liang Jun told the Beijing News.
In the face of huge related-party transactions, accounts receivable face the risk of being unrecoverable. In a sense, LeTV has also become the creditor of companies such as LeTV Holdings. And counting the "old account" has become the work of Liang Jun.
Regarding the progress of dealing with the related transaction arrears, Liang Jun said, “I think Jia is still relatively positive, but he is now relatively short of cash. He looks for various assets in the entire unlisted system to see if he can fill in the debt hole. Now it’s actually We are doing it, but we haven't finished it, we haven't announced it, so I can't talk about it."
“We have a whole package of programs: the freezing of the China Merchants Bank has completely disrupted the entire plan. The original is actually a matter of steps. At the end of June, everything is different, and Jia Zhan is adapting. We are adapting.†. Liang Jun said.
"Retrieving money from related transactions is the primary issue."
“I must be responsible for this seat, although this money is not necessarily caused by me.â€
LeTV's funding chain begins with a mobile phone.
In fact, Sun Hongbin's strategic investment is just LeTV, LeTV, and LeTV, not LeTV’s non-listed system. However, the related transactions between listed and non-listed companies have become a problem left to Liang Jun.
"Associate transactions do not appear to be unpleasant, but the actual controller is a person. When it is handled, it will be more sensitive to fairness. No matter how fair it is, others will also indicate the risk in a situation that may be unfair." Liang Jun said.
After the increase in related party transactions, huge amounts of receivables are in danger of being uncollectible.
"In order to avoid such problems arising from the future, we have cut off the related transactions as a whole and have to operate separately. The second is that the core of related transaction processing is the return of these funds. There is no asset disposal solution that can make listed companies lose the least. "Liang Jun said.
In May of this year, Liang Jun replaced Jia Yueting as CEO of LeTV. He reclaimed LeTV’s offline sales right from LePar to LeTV, and realized LeTV’s integrated production and sales operations.
Liang Jun said that it was originally in LeTV's unlisted company to sell all products in the LeTV system. At that time, it was also right. It is impossible for every company to get a website and a sales team. Today, after dealing with difficulties and changes in the ownership structure, there must be a closed sales team for listed companies.
"The biggest problem between listed companies and non-listed companies is related-party transactions. No matter whether it is to the Securities and Exchange Commission, the Exchange, or shareholders, I have to be responsible for sitting in this position, although this money is not necessarily the same. Caused by, but to withdraw money from related transactions, this is the first problem to be solved," said Liang Jun.
"Not only do business but also capital issues."
Liang Jun admits that there is a limited amount of funds that LeTV can use now. In the past, he rarely participated in financing. He has recently paid attention to financing issues.
Sun Hongbin claimed to have suffered a cash flow deficit and knew the importance of cash flow. But now, LeTV's cash flow poses a challenge to his successor Liang Jun.
“Originally, Jia Jia helped us, and Jia did not have the money to think of a way. Today we not only need to do business but also consider funds. This is a challenge for me,†Liang Jun said.
According to the financial report, as of the end of June, LeTV.com had a book currency fund balance of 2.98 billion yuan, but the bank deposit balance was a freeze of 29.97 million yuan, and TCL Multimedia Holdings had a margin of 2.151 billion yuan. This means that LeTV can only use about 800 million yuan in cash.
In the face of this long list of financial data, Liang Jun said that these figures are a challenge for him. In the mind of his product R&D and operation, he remembers all sorts of data related to television.
Liang Jun’s view on cash flow is that 2 billion of these are actually foreign loans for internal guarantees and must be escalated to banks. There are indeed a limited number of funds available for LeTV.
"I really want to pay attention to cash flow now. To strengthen the teams that have the ability to collect sales and sales, the Internet business receipts require special expertise, cash flow will be long, and when the financial pressure was not high, an ad 3-6. The monthly payment is normal, but we now hope to recover it in one or two months," Liang Jun said.
Liang Jun said that in the past he had participated in relatively little financing, but in the last two months, he had to pay attention to issues such as bank financing and equity pledges.
The old man in Liang Junkou is no longer responsible for the business of listed companies, but has become a key figure in LeTV's inquiries with the Shenzhen Stock Exchange.
On September 12, the Management Department of the Shenzhen Stock Exchange's Growth Enterprise Board sent an inquiry letter to LeTV. It stated that it was highly concerned about Jia Yueting’s commitment to reducing its capital and asked LeTV and Jia Yueting to explain the relevant issues.
Concern showed that on July 27, 2015, LeTV.com announced that Jia Yueting promised to lend all funds obtained from the reduction to the listed company. Within six months from the date of receipt of the repayment of the listed company, Jia Yueting will repay the funds. All used to increase the shareholding of LeTV.com. However, LeTV's 2017 semi-annual report shows that the company has returned all borrowings to Jia Yueting.
Regarding Jia Yueting’s promises, Liang Jun said, “Using a more official but truthful statement, the exchange came to ask what’s going on. This is a sensitive issue. I can’t speak now, and I’m going to understand the details at the time. I haven’t had time to look at the past for more than two months, but rather to support the current advance, and let the company stabilize first, which is even more stressful.â€
Change mode, no longer burn money
Liang Jun said that we are now short of money and we must change our mind to do business.
On the eve of 9·19 Music Fan Festival, on September 12th, LeTV opened a new online conference, which was the first time that LeTV made a new online release.
“We are short of money now, and we must change our mind to do business.†Liang Jun told the Beijing News. This is the first September 19th after LeSeo met the crisis. Different from the past, this LeTV focused more on Lepa and TV as a promotional channel. In addition to accurate positioning and notification purposes, this way can also reduce the market. Marketing costs.
Liang Jun bluntly, in 2018, it is definitely required that the entire operation no longer burn money.
Different from traditional TV manufacturers, smart TVs usually adopt hardware low-cost or even negative-profit pricing strategies. The main sources of income are membership fees and other application fees and advertisement fees.
In order to attract paying members, various video platforms often fight for copyright and compete for head resources. This kind of copyright blunt battle is more obvious on the mobile side, but around the family living room economy, the copyright war on the television side is more rational.
In Liang Jun’s view, in the past, LeTV relied more on Lexus’ own exclusive content of heavyweights to drive the entire sales, while the TV business also had a large amount of incentives for its members. At present, the installed capacity of the mobile industry in the video industry is saturated, and the contention for the members is mainly for exclusive content. Iqiyi and Tencent have invested heavily to purchase exclusive content.
"Learning on a large number of purchases is not realistic for today's LeTV." From Liang Jun's point of view, although LeTV's TV business was also affected in this turmoil, it has already obtained 10 million user retention, and there are four hundred daily. Millions to five million users. This is followed by LeTV. Although LeTV has not been installed in a listed company, homemade content is always valuable to the video industry and is increasingly important. In addition, starting from the cloud platform that started LeEco's video in 2012, we tried to do a live broadcast service. In fact, we are also preparing for the television service.
At 5:30 pm on the day after the end of the interview, the supplier who came to collect debts on the ground floor of LeTV Building opened the tweeter again, and the harsh sound of “Lee pays back and Jia Yueting repays money†sounded again.
A LeTV to new executives said that when Sun Hongbin was handling Shunchi’s crisis, Sun Hongbin had seen anything. This time, Liang Jun admits that he has experienced such a big scene.
Liang Jun, the head of Letv.com, said: “I don’t care about the image right now. I want to do my business well, because all the external performance comes from the inside,†said Liang Jun. “Lastly depends on you. Whether or not a family business can recover from its predicament and return to health, some things do not see it when they see it."
dialogue
Liang Jun: LeTV is relearning to “do businessâ€
LeTV is saying goodbye to the money-burning model and doing business while at the same time
Beijing News: LeTV has been losing money since its inception, LeTV's financial report has also become a loss in the first half, how to make money?
Liang Jun: The core reason for our loss this year is that we must pay for the entire storm and negatively. Our users, consumers, and channels are largely watching. This wait-and-see process directly has an effect, which is the decline of our performance. . In fact, we are psychologically prepared.
Beijing News: How long will the decline last?
Liang Jun: Looking at the current strategy, we hope to make some adjustments in 2017 so that the team and strategy will be prepared for 2018. I think this is more realistic. The restoration of the brand, the restoration of user confidence, the recovery of the upstream supply chain, and the recovery of the downstream channels, and the recovery of reputation by the surrounding public opinion require a process. However, the good point is that although there are many negative things out there, but overall we have detected user word-of-mouth and home-use TVs. LeTV is trying hard to provide more content. Through TV system search, you can see many non-LeTV TV shows, movies, etc.
The operating pressure we are now facing is not just LeTV. It is the same whether it is in the TV business or in the movie business. LeTV is an ecological company and is affected by the market as a whole.
The first and foremost is to determine what the future strategy is, and the second is to get the team out of the current situation. Just like the curve of a smile, you need to have a bottom process, and not fall off all at once. My own estimate is that in 2018, it is definitely required that the entire operation no longer burn money.
After the strategic adjustment is completed, the next one is the adjustment of management, so that everyone can start learning how to operate, and how to make the company less loss, no loss or even profit in the case of limited resources. (If the GEM stocks lose money for three consecutive years, they will be delisted directly), and LeTV will not be allowed to withdraw from the market. Then we will become sinners and investors in the Chinese capital market will not accept it.
Beijing News: Do you think this will happen?
Liang Jun: We certainly cannot let this happen.
Beijing News: Sun Hongbin said that LeTV lacks people who really understand business.
Liang Jun: I think he makes sense. We are training to move from past money-burning models to shifting to doing business today while living in and out - to see how much capacity there is. The business is that if you have a dollar to make a dollar, you have no money to do business, and you can't go hungry and do business.
I think that Sun Hongbin’s lack of people who will do business actually requires the management team to learn how to operate healthily and have healthy cash flow. It does not mean that we cannot borrow from banks and cannot finance, but we must see that the capital market evaluates a company’s Good or bad, his core still depends on operating cash flow and operating profit and loss.
Beijing News: What are the team's priorities?
Liang Jun: The first is to face and solve the problems of the past. The second is to face the (things) strategy (adjustment) that we will do after 2018. At the same time, we must learn how to strengthen the management and control in the process of management, cash flow, and cost control. From the perspective of LeTV's overall timeline, we have encountered a lot of challenges and difficulties after blinking for a while. Slower today, we do have some injuries. A company can't rely on financing to support it for a long time. It depends on the normal business operations and healthy cash flow. This is a test for the team and I can't go wrong with this company. We did not have any retreat, only to clench the teeth and lead the team through this difficult period, let the company learn to operate.
In the case of Liang Junshi, we must first pass through the gap between the tents built by the debt collectors in LeTV Building. This scene is the current CEO of LeTV.com.
"Jia Yueting repays the money and LeTV pays back the money," and every time he goes off work, the high-decibel loudspeakers will last for nearly an hour. The girl at the front desk was comfortable with the noise of high decibels, and Jia Yueting, who was called for by the debt collectors, had gone to work on the 16th floor of LeTV Building. He now has been abroad for more than 70 days.
LeTV CEO Liang Jun. Beijing News reporter Wu Jiangshe
Liang Jun’s office was on the 15th floor of LeTV Building and had just moved to a new office last week. There was not much decoration except for the two tables. "I don't care about the image right now. I want to do business well."
Liang Jun, who took over LeTV’s CEO from Jia Yueting, has officially taken office for nearly four months. As a professional manager, he has been doing a cutting of LeTV and Jia Yueting, and LeTV's listed company system and non-listed companies. System cutting. Before receiving an exclusive interview with the Beijing News reporter, Liang Jun spent more than 10 days in a busy business trip and met with LeTV to create new suppliers and rebuild trust.
In addition to "cutting," Liang Jun will also lead the new music as the advance. Liang Jun lamented that originally Jia had no idea what to do with the money. Today we not only have to do business, we must also consider funds. This is a challenge for me.
Lack of money has always been a difficult problem for LeTV. When LeTV CEO Liang Jun accepted an interview with the Beijing News on September 13th, he did not shy away from this. What is worth remembering is that on January 15, when Sun Hongbin strategically invested in LeTV, he said that the only problem with LeTV was the lack of money, and that it was easy to manage the lack of money.
Join LeTV for a five-year change
In the face of the current situation of LeTV, Liang Jun said, "I want to do all my power. I am either in a good state of mind, or I sleep with sleeping pills."
"Jiayue Ting returns home next week." This is a ridicule for Jia Yueting on the social networking site. Jia Yueting went to the United States so far, more than 70 days have passed. This left a mess on successor Liang Jun. Before being interviewed by reporters, Liang Jun has been intensively visiting for more than ten consecutive days, visiting television suppliers across the country to eliminate as much as possible distrust of LeTV.
In the face of the past, in the face of intricate "cutting" work, Liang Jun stiffened and said, "I want to do everything I can. Either have a good attitude or sleep with sleeping pills." The music next to jokes as an executive said, from Jia Yueting In 2014, when I left Hong Kong and went far away from the United States, I’ve been working in LeTV for a few years. Liang Jun said with a smile, not so exaggerated, music as the Lenovo Lenovo 10 years.
Before joining LeTV in 2012, Liang Jun worked for Lenovo Group for 17 years. Joining LeTV was his first career.
Liang Jun once introduced that he graduated from graduate school and entered Lenovo. He witnessed the most glorious process of PC from 1995 to 2000 and was later responsible for Lenovo's server business. "Lenovo's server business was actually built by me. We did a server business for about seven or eight years. Within Lenovo, I jumped to the mobile phone business in 2007. After a few years, it was still in the mobile internet, but still Around the hardware."
"I am a company that belongs to a different kind of company. I am very eager to have the opportunity to understand the Internet company in the end how to do it." Liang Jun introduced. In 2012, he joined LeTV under the influence of Jia Yueting. This was his first job-hopping. In this regard, Liang Jun admitted in an interview that he was also a restless person.
In Jia Le Ting's previous build of music as the seven sons of ecology, Liang Jun occupied a seat to do super TV business. On Super TV, LeTV totally gave up following other people's gameplay and rediscovered new rules and gameplay according to their own ideas. Hardware is free of charge is Levin's product line of thought.
LeTV New (mainly Super TV) is also a relatively high-quality asset in LeTV. Liang Jun also stands out from the leaders of the seven sub-ecosystems.
A person working at Liang Jun said that Liang Jun was steady and mature. According to public information, Liang Jun was born in 1970 and Sun Hongbin was born in 1963. “He and Sun Hongbin and Zhang Zhao are actually the communication methods of adult men. Believe that we must do our own work, not to gloss over the data. Their generation of people resonated with many values."
Interviewed with Jia Yueting over 70 days and counted the "old account"
Liang Jun said Jia Yueting is looking for suitable assets to repay listed companies
Although it has not returned for more than 70 days, LeTV's 3.8 billion accounts receivable has allowed Jia Yueting to become an absent “key player.â€
In an inquiry letter on May 5, the Shenzhen Stock Exchange pointed out that in 2016 the company changed the sales model of Super TV, and LeTV's related party transactions increased in 2016. At the end of the period, the balance of related party receivables amounted to RMB 3.8 billion.
“I haven’t seen him for 70 days. There must be some communication. Jia’s disposal of connected transactions is still positive. The core is that he must be able to repay and find the right assets to repay the listed company. Now it is in progress, the SFC. We are still actively staring at us to solve the problem than you. As soon as we have finished processing, there will be an official announcement." Liang Jun told the Beijing News.
In the face of huge related-party transactions, accounts receivable face the risk of being unrecoverable. In a sense, LeTV has also become the creditor of companies such as LeTV Holdings. And counting the "old account" has become the work of Liang Jun.
Regarding the progress of dealing with the related transaction arrears, Liang Jun said, “I think Jia is still relatively positive, but he is now relatively short of cash. He looks for various assets in the entire unlisted system to see if he can fill in the debt hole. Now it’s actually We are doing it, but we haven't finished it, we haven't announced it, so I can't talk about it."
“We have a whole package of programs: the freezing of the China Merchants Bank has completely disrupted the entire plan. The original is actually a matter of steps. At the end of June, everything is different, and Jia Zhan is adapting. We are adapting.†. Liang Jun said.
"Retrieving money from related transactions is the primary issue."
“I must be responsible for this seat, although this money is not necessarily caused by me.â€
LeTV's funding chain begins with a mobile phone.
In fact, Sun Hongbin's strategic investment is just LeTV, LeTV, and LeTV, not LeTV’s non-listed system. However, the related transactions between listed and non-listed companies have become a problem left to Liang Jun.
"Associate transactions do not appear to be unpleasant, but the actual controller is a person. When it is handled, it will be more sensitive to fairness. No matter how fair it is, others will also indicate the risk in a situation that may be unfair." Liang Jun said.
After the increase in related party transactions, huge amounts of receivables are in danger of being uncollectible.
"In order to avoid such problems arising from the future, we have cut off the related transactions as a whole and have to operate separately. The second is that the core of related transaction processing is the return of these funds. There is no asset disposal solution that can make listed companies lose the least. "Liang Jun said.
In May of this year, Liang Jun replaced Jia Yueting as CEO of LeTV. He reclaimed LeTV’s offline sales right from LePar to LeTV, and realized LeTV’s integrated production and sales operations.
Liang Jun said that it was originally in LeTV's unlisted company to sell all products in the LeTV system. At that time, it was also right. It is impossible for every company to get a website and a sales team. Today, after dealing with difficulties and changes in the ownership structure, there must be a closed sales team for listed companies.
"The biggest problem between listed companies and non-listed companies is related-party transactions. No matter whether it is to the Securities and Exchange Commission, the Exchange, or shareholders, I have to be responsible for sitting in this position, although this money is not necessarily the same. Caused by, but to withdraw money from related transactions, this is the first problem to be solved," said Liang Jun.
"Not only do business but also capital issues."
Liang Jun admits that there is a limited amount of funds that LeTV can use now. In the past, he rarely participated in financing. He has recently paid attention to financing issues.
Sun Hongbin claimed to have suffered a cash flow deficit and knew the importance of cash flow. But now, LeTV's cash flow poses a challenge to his successor Liang Jun.
“Originally, Jia Jia helped us, and Jia did not have the money to think of a way. Today we not only need to do business but also consider funds. This is a challenge for me,†Liang Jun said.
According to the financial report, as of the end of June, LeTV.com had a book currency fund balance of 2.98 billion yuan, but the bank deposit balance was a freeze of 29.97 million yuan, and TCL Multimedia Holdings had a margin of 2.151 billion yuan. This means that LeTV can only use about 800 million yuan in cash.
In the face of this long list of financial data, Liang Jun said that these figures are a challenge for him. In the mind of his product R&D and operation, he remembers all sorts of data related to television.
Liang Jun’s view on cash flow is that 2 billion of these are actually foreign loans for internal guarantees and must be escalated to banks. There are indeed a limited number of funds available for LeTV.
"I really want to pay attention to cash flow now. To strengthen the teams that have the ability to collect sales and sales, the Internet business receipts require special expertise, cash flow will be long, and when the financial pressure was not high, an ad 3-6. The monthly payment is normal, but we now hope to recover it in one or two months," Liang Jun said.
Liang Jun said that in the past he had participated in relatively little financing, but in the last two months, he had to pay attention to issues such as bank financing and equity pledges.
The old man in Liang Junkou is no longer responsible for the business of listed companies, but has become a key figure in LeTV's inquiries with the Shenzhen Stock Exchange.
On September 12, the Management Department of the Shenzhen Stock Exchange's Growth Enterprise Board sent an inquiry letter to LeTV. It stated that it was highly concerned about Jia Yueting’s commitment to reducing its capital and asked LeTV and Jia Yueting to explain the relevant issues.
Concern showed that on July 27, 2015, LeTV.com announced that Jia Yueting promised to lend all funds obtained from the reduction to the listed company. Within six months from the date of receipt of the repayment of the listed company, Jia Yueting will repay the funds. All used to increase the shareholding of LeTV.com. However, LeTV's 2017 semi-annual report shows that the company has returned all borrowings to Jia Yueting.
Regarding Jia Yueting’s promises, Liang Jun said, “Using a more official but truthful statement, the exchange came to ask what’s going on. This is a sensitive issue. I can’t speak now, and I’m going to understand the details at the time. I haven’t had time to look at the past for more than two months, but rather to support the current advance, and let the company stabilize first, which is even more stressful.â€
Change mode, no longer burn money
Liang Jun said that we are now short of money and we must change our mind to do business.
On the eve of 9·19 Music Fan Festival, on September 12th, LeTV opened a new online conference, which was the first time that LeTV made a new online release.
“We are short of money now, and we must change our mind to do business.†Liang Jun told the Beijing News. This is the first September 19th after LeSeo met the crisis. Different from the past, this LeTV focused more on Lepa and TV as a promotional channel. In addition to accurate positioning and notification purposes, this way can also reduce the market. Marketing costs.
Liang Jun bluntly, in 2018, it is definitely required that the entire operation no longer burn money.
Different from traditional TV manufacturers, smart TVs usually adopt hardware low-cost or even negative-profit pricing strategies. The main sources of income are membership fees and other application fees and advertisement fees.
In order to attract paying members, various video platforms often fight for copyright and compete for head resources. This kind of copyright blunt battle is more obvious on the mobile side, but around the family living room economy, the copyright war on the television side is more rational.
In Liang Jun’s view, in the past, LeTV relied more on Lexus’ own exclusive content of heavyweights to drive the entire sales, while the TV business also had a large amount of incentives for its members. At present, the installed capacity of the mobile industry in the video industry is saturated, and the contention for the members is mainly for exclusive content. Iqiyi and Tencent have invested heavily to purchase exclusive content.
"Learning on a large number of purchases is not realistic for today's LeTV." From Liang Jun's point of view, although LeTV's TV business was also affected in this turmoil, it has already obtained 10 million user retention, and there are four hundred daily. Millions to five million users. This is followed by LeTV. Although LeTV has not been installed in a listed company, homemade content is always valuable to the video industry and is increasingly important. In addition, starting from the cloud platform that started LeEco's video in 2012, we tried to do a live broadcast service. In fact, we are also preparing for the television service.
At 5:30 pm on the day after the end of the interview, the supplier who came to collect debts on the ground floor of LeTV Building opened the tweeter again, and the harsh sound of “Lee pays back and Jia Yueting repays money†sounded again.
A LeTV to new executives said that when Sun Hongbin was handling Shunchi’s crisis, Sun Hongbin had seen anything. This time, Liang Jun admits that he has experienced such a big scene.
Liang Jun, the head of Letv.com, said: “I don’t care about the image right now. I want to do my business well, because all the external performance comes from the inside,†said Liang Jun. “Lastly depends on you. Whether or not a family business can recover from its predicament and return to health, some things do not see it when they see it."
dialogue
Liang Jun: LeTV is relearning to “do businessâ€
LeTV is saying goodbye to the money-burning model and doing business while at the same time
Beijing News: LeTV has been losing money since its inception, LeTV's financial report has also become a loss in the first half, how to make money?
Liang Jun: The core reason for our loss this year is that we must pay for the entire storm and negatively. Our users, consumers, and channels are largely watching. This wait-and-see process directly has an effect, which is the decline of our performance. . In fact, we are psychologically prepared.
Beijing News: How long will the decline last?
Liang Jun: Looking at the current strategy, we hope to make some adjustments in 2017 so that the team and strategy will be prepared for 2018. I think this is more realistic. The restoration of the brand, the restoration of user confidence, the recovery of the upstream supply chain, and the recovery of the downstream channels, and the recovery of reputation by the surrounding public opinion require a process. However, the good point is that although there are many negative things out there, but overall we have detected user word-of-mouth and home-use TVs. LeTV is trying hard to provide more content. Through TV system search, you can see many non-LeTV TV shows, movies, etc.
The operating pressure we are now facing is not just LeTV. It is the same whether it is in the TV business or in the movie business. LeTV is an ecological company and is affected by the market as a whole.
The first and foremost is to determine what the future strategy is, and the second is to get the team out of the current situation. Just like the curve of a smile, you need to have a bottom process, and not fall off all at once. My own estimate is that in 2018, it is definitely required that the entire operation no longer burn money.
After the strategic adjustment is completed, the next one is the adjustment of management, so that everyone can start learning how to operate, and how to make the company less loss, no loss or even profit in the case of limited resources. (If the GEM stocks lose money for three consecutive years, they will be delisted directly), and LeTV will not be allowed to withdraw from the market. Then we will become sinners and investors in the Chinese capital market will not accept it.
Beijing News: Do you think this will happen?
Liang Jun: We certainly cannot let this happen.
Beijing News: Sun Hongbin said that LeTV lacks people who really understand business.
Liang Jun: I think he makes sense. We are training to move from past money-burning models to shifting to doing business today while living in and out - to see how much capacity there is. The business is that if you have a dollar to make a dollar, you have no money to do business, and you can't go hungry and do business.
I think that Sun Hongbin’s lack of people who will do business actually requires the management team to learn how to operate healthily and have healthy cash flow. It does not mean that we cannot borrow from banks and cannot finance, but we must see that the capital market evaluates a company’s Good or bad, his core still depends on operating cash flow and operating profit and loss.
Beijing News: What are the team's priorities?
Liang Jun: The first is to face and solve the problems of the past. The second is to face the (things) strategy (adjustment) that we will do after 2018. At the same time, we must learn how to strengthen the management and control in the process of management, cash flow, and cost control. From the perspective of LeTV's overall timeline, we have encountered a lot of challenges and difficulties after blinking for a while. Slower today, we do have some injuries. A company can't rely on financing to support it for a long time. It depends on the normal business operations and healthy cash flow. This is a test for the team and I can't go wrong with this company. We did not have any retreat, only to clench the teeth and lead the team through this difficult period, let the company learn to operate.
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Taizhou Jiabo Instrument Technology Co., Ltd. , https://www.jbcbyq.com