Yinhua Fund announcement said its music video stock valuation of 3.91 yuan, more than the suspension price shrank nearly 75%
November 18, Yinhua Fund issued a public notice on the company's official website, saying the decision since November 17, 2017, the company's shares held by the suspended music Watch net 3.91 yuan according to the valuation.According to the music video current 3.989 billion shares The total share capital and the latest Yinhua Fund cut 3.91 yuan / share, the music after the downgrade of the stock price valuation of only 15.6 billion yuan, and the suspension when the price of 15.33 yuan, the market value dropped 75%.
Beijing News reporters found that from November 15 to November 18, at least 26 agencies have announced the valuation of music ratings lowered.
Yinhua Fund 180 million shares held by music Watch shares
According to the Yinhua Fund Announcement, Yinhua Fund's 'Yinhua Shenzhen 100 Index Rating', 'Yinhua Shanghai and Shenzhen 300 Index Rating', 'Yinhua Zhongzheng weight 90 Index Rating' currently holds music Watch shares. Newspaper reporter found funds network every day, as of the end of June 2017, Yinhua Fund's three funds hold 172.6 million shares of LeTV, respectively, 15,800 shares, 64,400 shares.
Data show that the music video is currently the stock price of 15.33 yuan / share, the total market capitalization of 61.158 billion yuan.According to the current music video stock price, Yinhua Fund's three funds held by music video stock market value of 27,689,000 yuan.And the Yinhua Fund After the reduction, the stock market value of 706 million yuan.
Within a year, LeTV has been cut twice the valuation
November 2, 2016, the music network has been burst out of funds and other issues from the suspension on December 7, 2016 so far, less than a year, LeTV has suffered three large-scale valuation agencies down.
December 7, 2016, the storm Music Watch suspended, the total market capitalization of 70.94 billion yuan.December 12, China Post Fund, Harvest Fund have issued a valuation adjustment announcement, said its holdings of funds held by the suspension of stocks Music Watch uses the 'index income method' to be valued.
July 2017, the music network in succession suffered more than a dozen agencies down valuation July 8, China Post Fund, Harvest Fund lowered the valuation of music video price of 22.37 yuan / share; E Fund Fund, the music video to the stock price down to 22.05 yuan.At July 10, Cathay Pacific Fund, ICBC Credit Suisse Fund also announced that the music as the net in accordance with the valuation of 22.37 yuan / share.On July 12, voted Morgan, Guohai Franklin and many other fund companies once again cut music Watch Valuation. According to the valuation of the agencies lowered in July, the adjusted total valuation of LeTV after this adjustment was lowered to 44.6 billion.
On August 25, 2017, LeTV distributes a cash dividend of RMB 0.28 for every 10 shares to all shareholders for a total of 10 bonus shares. After the completion of the transfer, Lotto transferred 3,989 million shares of capital from 1,995 million shares to 3,989 million shares, Ex-right price from the suspension before the 30.68 yuan into 15.33 yuan.
After a round of increase in share capital, Oct. 28-31, more than 20 fund companies, including China Post Fund, Harvest Fund and Celestica Fund, collectively collectively lowered the valuation of the music video stock, of which most of the funds changed the valuation of LeTV Down to 7.82 yuan / share.
According to the latest total share capital of LeTV, the total valuation of LeTV has dropped to RMB31.190 billion when the valuation of LeTV has already been more than 70 billion yuan lower than the maximum market value of LeTV's in 2015, a decrease from the valuation in July More than 13 billion yuan.
In early November, Jia Youting, who was far behind the United States, responded to a prism reporter saying that he is currently making repairs in the United States and that the time for returning to China is uncertain. On November 10, Jia Yueting and his sister Jia Yuefang also sent a letter to Letv Network saying that once promised to LeTV Net unpaid borrowing has been unable to fulfill.
For financially troubled music watch network, Jiayue Ting 's "inability to fulfill" once again brought financial pressure on the company.November 15, including the Fortune Fund, Harvest Fund, E Fund Fund announced that it will begin on November 14 on the music Watch According to 3.91 yuan / share valuation; China Post Fund announced the same day, the music as the net in accordance with 3.92 yuan / share valuation.
This price, compared with the downward adjustment of 7.82 yuan in October and then once again cut by 50%, less than half a month to revaluation 'cut'.
Analysis said the resumption of trading may fluctuate around 10 yuan
The Fund has lowered its valuation of music ratings, Sun Hongbin is trying to save the music Watch. Sunac China released a notice on November 16, will be 10% annualized rate of music and net music to the new total loan of 1.79 billion yuan, with At LeTV and LeTV, the general working capital of the two companies was the same, meanwhile, Sunac Real Estate, a subsidiary of Sunac China, also agreed to provide LeTV with a debt guarantee of not more than RMB3 billion.
A securities expert on the Beijing News reporter said Sunac China is willing to once again take the money to help Watch, representing the company still has great confidence in the music Watch, 'Music Watch now the debt is relatively normal, the resumption of trading after the stock price at Fluctuations of around 10 dollars is more normal level, the current valuation of some agencies too low.
For the first three quarters of 2017, LeTV reported a loss of over RMB1.65 billion from January to September 2017. As of the end of September, the total liabilities of listed companies was RMB17.4 billion.