LeTV Vice Chairman and Director Liu Hong and LeTV Chief Financial Officer Yang Lijie pledged LeTV shares to Founder Securities respectively in October 2016 and June of the same year, raising a total of RMB180 million. Meanwhile, Jia Youting himself from 2015 In the beginning of large-scale holdings of music video stocks for a high cash of about 11.741 billion yuan.
In this regard, a resigning LeTV executives told the Securities Times · e company reporter said, "Lao Jia (Jia Yunting) their own high reduction, but we are not allowed to reduce holdings, but also we holdings to fill his digging Pit, this is not hollowing out the public company?
Pledge of litigation in the 'secret'
A Founder Securities equity pledge litigation shows that Jiayue Ting's cronies 'pre-crisis' music pre-pledge financing.
Founder Securities (601901) on the evening of December 4 announcement said that in October 2016, Liu Hong 6.5 million shares of LeTV shares pledged to the company into 100 million yuan, after the pledge 2 million shares; the same year in June, Yang Lijie pledged Music Network shares into the 80 million yuan due to Liu Hong pledged stock was judicial freeze, the deterioration of music Watch network and other reasons, the company asked Liu Hong, Yang Lijie but did not fulfill the early repurchase. The company applied for compulsory enforcement, the recent Changsha Intermediate People's Court has accepted The company's execution of the application. The total amount of the lawsuit cases a total of 192 million yuan.
This time by Founder Securities Liu Hong and Yang Lijie, are all follow the more than 10 years of Jiayue Ting 'old men.'
Yang Lijie was originally the financial director of LeTV.com, where she resigned as the CEO of LeTV as of May 22 this year and she also quit her position as CFO of LeTV.com. According to the information, Yang Lijie already followed her in the beginning of her business. In 2008, he served as manager of financial management department of Beijing Xibert Communication Technology Co., Ltd. (founded by Jia Yunting and listed in Singapore). Since 2008, he has been the financial director of LeTV, which can be described as Jia Yueting's confidant.
LeTV 2017 Mid-year Report shows that Yang Lijie holds 10.4128 million shares of LeTV, the number of shares in the music network executives only less than Jiayue Ting, Liu Yong and vice president Yang Yongqiang.A music video network insiders told reporters Yang Lijie Currently with the United States Jiayue Ting.
Liu Hong's personal data shows that its time to follow Jiayue Ting shorter than Yang Lijie.
Liu Hong, born in 1973, graduated from Beijing Broadcasting Institute with a double degree in 1997 and started his career as a reporter. From 1997 to 2004, Liu Hong was a reporter at China Radio International and was involved in flood fighting in 1998. In 1999, with the first Chinese Arctic The expedition team arrived in the North Pole and participated in the interview. From 2004 to 2008, he was the deputy general manager of LeTV Information Technology (Beijing) Co., Ltd. Since then, he has been the vice chairman and director of LeTV Co., Ltd. Since August 18, 2015, Hong served as Executive Director of Coolpad Group, and on November 17, 2017, Liu Hong took over as Chairman of Coolpad.
Today, reporters repeatedly dial Liu Hong personal phone number, are not connected.
Although, for the Founder Securities debt recovery, Liu Hong and Yang Lijie are not position, but the two pledge financing time point was chosen rather 'precise', just as music funds crisis before the outbreak, the music as non-listed system funds When problems arise.
A music investor on the Securities Times · e company told reporters that 'the second half of 2016, LeTV unlisted system business major business problems, and Gu Yueting through a large number of related party transactions from the system of listed companies to withdraw funds for blood transfusion' .
Liu Hong and Yang Lijie then pledge of equity financing whether the funds were taken away by Jia Yunting, used in the urgent need of funds at the time of the music as the non-listing system, is still unknown, but we can see that as a cronies, Liu Hong and Yang Lijie follow Jiayue Ting, The majority of its holdings of music video network has pledged financing, effectively from the listed company 'blood.'
LeTV net semi-annual report in 2017 shows that as of June 30, 2017, Liu Hong holds 6,123.04 million shares of LeTV, of which 56,897,900 shares have been pledged financing, pledging ratio reached 92.91%; Yang Lijie holds music video 10,412,800 shares Shares, pledged only 6,162,000 shares in Founder Securities, the pledge ratio of more than 59.18%.
At the same time, Jiayue Ting LeTV equity ownership pledge ratio appears higher.LeTV three quarterly reports in 2017, as of the end of the third quarter, Jiayue Ting 1.0224 billion shares held by music video 1.02 billion shares have been pledged financing, pledge ratio reached 99.6%.
Such a high proportion of equity pledge financing has become one of the methods by which Jia Yunting and his cronies 'take blood' from listed companies.
Jiayue Ting sibling high cash holdings over 140 billion
In addition to equity pledges financing, Jiayue Ting also through the high holdings of music video stocks to 'draw blood', cash of about 11.741 billion yuan.
May 26, 2015, LeTV notice said that Jiayue Ting plans within six months reduction of not more than 8% of the total share capital of LeTV total shares of about 148 million shares.Subsequently, Jia Yunting reduced its holdings of about 135 million shares within half a year, cash of 5.7 billion .Among them, in early June 2015, Jiayue Ting reduced its TV network to a total of 2.5 billion yuan. On October 30, 2015, Jia Youting transferred 100 million shares of LeTV Network shares to Xingen Fund for cash of 3.2 billion yuan.
On January 16, 2017, LeTV introduced Rongchuang as a strategic investor and Jia Youting transferred 170 million LeTV shares to Tianjin Jiarui, a subsidiary of Rongchuang, for a total amount of 6.041 billion yuan.
Through such a few holdings, Jiayue Ting total from music Watch now about 11.741 billion yuan.
In addition, Jiayue Ting's sister Jiayue Fang also by holdings of music video shares to cash in. In January 2014, Jia Yuefang reduced holdings of 14 million shares of music video; December 9, 2014 to December 18, 2014, Jia Yuefang again reduced 12 million Shares; From January 30, 2015 to February 4, 2015, Jia Yuefang and holdings of 24 million shares by these few holdings, Jia Yuefang cash of about 2.284 billion yuan.
In all, Jiayue Ting's siblings cash in about 140.25 billion yuan through the high-end holdings of LeTV shares.
Jiayue Ting digging before the executives to fill
In the case of music funds crisis has not yet been exposed, through a high proportion of equity pledges and repeated high holdings, jia yingting and cronies from a large number of listed companies 'blood' at the same time, said the resignation executives said a group of music network executives Was asked to increase holdings of music stocks at this time.
In September 2015, three executives of LeTV Network, Liang Jun, Gao Fei and Wu Yazhou added a total stake of nearly 10 million to LeTV.
In September 2016, the first phase of music Watch's shareholding increase plan was completed, buying a total of 10,953,600 shares, with an increase of 510 million yuan.
In this plan, the total number of overweight holders is 28, including about 10 LeTV Supervisors and senior management staff and 18 other LeTV core staff.
This time being surrounded by 10 executives including Ji Xiaoqing, Yuan Bin, Gao Fei, Jin Jie, Tan Shu, Wu Yazhou, Jiang Xiaolin, Liang Jun, Zhang Min 翚, Zhao Kai, their total contribution of 140 million yuan.
In 2017 semi-annual report of LeTV, Gaofei, Jin Jie, Tan Shu, Wu Yazhou, Jiang Xiaolin, Liang Jun, Zhao Kai and other seven people still hold different shares of LeTV, of which up to 360.22 million Shares, Tan Shu shares at least have 22.64 million shares.
In this overweight executives, Yuan Bin in July this year from LeTV net left; Liang Jun, Gao Fei, Zhang Min, Jiang Xiaolin four people have collectively from LeTV in October this year, leaving the job; Wu Asia in November this year 3 days left from LeTV.