Nov. 21, LeTV notice said the company and its controlling subsidiary LeTV New proposed to borrow 2.290 billion yuan and 500 million yuan from Tianjin Jiarui, a subsidiary of Sunac China respectively, and on the same day, the Shenzhen Stock Exchange issued a note of interest to LeTV and asked LeTV shows if the failure to repay borrowings will lead to the company shell and other issues.
LeTV disclosure disclosure notice, in order to meet the company's operations and business development needs, LeTV Group, a subsidiary of LeTV to intend to borrow 500 million yuan from Tianjin Jiarui, to supplement the music daily income from the new liquidity. In addition, Tianjin Jia Rui applied for 1.29 billion yuan of loans for the company is about to expire loans for the company to provide financial support for the duration of the loan borrower to pay the first amount of borrowings actually credited one year from the date of borrowing interest rate of 10 % (Simple interest). In music as a result of the new loan, music as a new lease to its music as a 100% stake in music investment and its derivative rights pledged to Tianjin Jia Rui, the amount of 500 million guarantee.In addition, To provide a new guarantee, the music as intended to be the net as the 100% stake in the music as the new generation to be held, 100% stake in Chongqing Small Loans, music, sports 6.47% stake pledged to Tianjin Jia Rui, the guarantee amount of 200 million yuan, Person identity and will be held in the form of equity pledge music as the new electronic technology Beijing 100% stake and its derivative interests, music as the new electronic technology Chongqing 100% stake and its derivative interests, music as new e-commerce 100% of the shares And its derivative rights to the music video to provide counter-guarantee, the amount of 200 million yuan of principal claims secured.In addition, the music as the net of LeTV, LeTV will be held as the new 13.5416% stake in equity and derivative interests, LeTV as 47.21% stake And its derivative rights pledged to Tianjin Jia Rui.
For the aforesaid loans and guarantees, the Shenzhen Stock Exchange issued a note of interest on the same day, requiring the total assets and operating income of LeTV combined with the LeTV Cenozoic, Chongqing Small Loans and LeTV Newest over the latest year and a period accounted for the total The proportion of assets and operating income indicates whether the exercise of the security right or the pledge right by the pledgee will result in the shell-out of the listed company if the relevant loan can not be repaid.
LeTV's semi-annual report released in 2017 shows that as of June 30, 2017, LeTV total assets of about 35.743 billion yuan, total revenue of about 5.579 billion yuan the same period, the total assets of the music as the new generation of about 3.394 billion Yuan, operating income of about 2.507 billion yuan. Music as the new total assets of about 137.84 billion yuan, operating income of about 4.653 billion yuan.
In addition, the Shenzhen Stock Exchange requires LeTV network with the borrower's financial position, the market and the level of interest rates in the same industry to quantify the loan interest rate rationality and the existence of the interests of the delivery situation.