Beijing Securities Regulatory Bureau issued a circular on the 25th, ordered the former music video network, Jia Yuanting former chairman of the Board on December 31, 2017 back home, the effective implementation of the company's actual controller should do its best to cooperate with the company to solve the problem, and properly handle the company's risks and effectively protect the legitimate rights and interests of investors .
The circular said that recently, the listed companies LeTV and LeTV related companies operating difficulties, Jiayue Ting LeTV as the actual controller and the former chairman of the company urgently needed funds failed to fulfill the interest-free loan commitment to listed companies, Beijing Securities Regulatory Commission has been In response to the unlawful promulgation, Jia Youting issued the Decision on Measures for Gu Yueting to Correct Administrative Supervision Measures (Beijing Securities Regulatory Bureau 'Administrative Supervision Measures' 2017'149). Up till now, Jia Youting has not yet fulfilled its commitment and has not submitted a rectification report to the Beijing Securities Regulatory Bureau.
On September 13, 2017, Beijing Securities Regulatory Bureau issued a "Regulatory Concern for Supervision of Jiayue Pavilion" (Jingjianjianfa '2017'256) to Jiayue Ting and explicitly requested that Jia Younting return home immediately after the presentation and properly handle the problems facing the company Since then, various listed companies have also conveyed the request of returning to fulfill their obligations to Jiayue Ting, but so far they have not taken any relevant action. According to the circular, Jia Youting stalled overseas on the grounds of investing in automobile business and financing, and the relevant companies under its control There is a huge amount of arrears in the listed companies and has not yet returned. The relevant acts have seriously infringed the legitimate rights and interests of the listed companies and the immediate interests of the vast investors, and the social impact is extremely harsh.