The music video network founder Jia Yueting let his wife Wei Wei returned home to help deal with debt repayment issues, new progress began in 2018. On the evening of January 2, LeTV announcement revealed that LeTV subsidiary "New Le Vision" to 92.9 million The acquisition of music as the e-commerce business LeTV Mall assets to settle the debt with the listed company's debt.
In order to alleviate financial pressure, the new music as a smart home for a round of capital increase, more than 12 billion yuan of valuation of 3 billion yuan of financing, including new investors and the original investors to increase capital 1.5 billion yuan by creditors to debt Price 1.5 billion investment.
A music store in Maoming City, Guangdong Province, told CBI Financials that while the music supply chain started to regain its momentum, 'music has only been used' and he has made a big hit with music TV over the past few years. "Clearly, Music as a result of the tension of the music chain and the injured music supplier and dealer groups, the heart also Jia Yunting difficult to repay the 'debt.'
On the last day of 2017, in the face of pressure from the securities regulatory authorities and public opinion, Jia Yueting finally made a formal response to the debt problem in the United States across the Atlantic. On January 2, 2018, at noon, Jia Youting released the "About" Beijing Securities Regulatory Bureau ordered Jia Youting to return home to fulfill the "Response Letter", the deadline is December 31, 2017, which is the Beijing Securities Regulatory Bureau ordered him to return to the deadline.He commissioned Gan Wei and brother Jia Yuemin cooperate with listed companies to solve the debt problem.
Jiayue Ting said: First of all, he actively discussed and communicated with listed companies actively, proposed clear repayment intention and preliminary plan, both parties formed the intention of debt settlement, solved the problem of arrears of listed companies by selling assets to obtain funds and using assets to offset debts; secondly, FF company financing has made significant progress in the United States, there are still a lot of work required him to promote and guarantee the mass production of electric vehicles FF91 delivery; the third entrusted Gan Wei and Jia Yuemin fully authorized him to exercise the rights and responsibilities of listed company shareholders, including asset disposal and other related jobs.
At noon on January 2, Gan Wei said later on Weibo that 'I will be responsible for the debt problem of Jia Yueting in the country entrusted by Lao Jia. By the way, it is clarified that Laojia reduced the amount of stock money 2 billion) and pledged loans (pledged loan balance of 6.9 billion and interest expense of 1.74 billion so far in 2014), equity investment of about 1.6 billion and operating investment of about 15.2 billion. Not only for personal and domestic use, but also for the company 100 Hundreds of millions of people, both individuals and families, have their assets and assets frozen and are heavily indebted, and I will work hard with the debt team to solve the debt problem. "
In fact, the debt of Jiayue Ting and LeTV is heavy and complex, at least involving the huge debt receivables LeTV unlisted system, the LeTV listing and the unlisted system owed to suppliers and distributors, Jia Yueting and LeTV System of the three major aspects of bank arrears.
Le just from the music as the non-listed system of music as a listed company on the receivables arrears, up to about 50 billion yuan.LeTV's semi-annual report in 2017 shows that as of the end of June 2017, LeTV accounts receivable book value Accounting for 26% of the total assets; of which, the balance of accounts receivable from related parties was 5.24 billion yuan, accounting for 51.85% of the total accounts receivable.
In addition to the arrears of receivables, LeTV unlisted system also took over the funds of listed companies.According to LeTV 2017 Third Quarterly Report, LeTV, Lepa, LeTV mobile e-commerce companies, LeTV Mobile, a total of 385 million LeTV.
For Jiayue Ting this open and positive response to the debt problem, a close to the music industry insiders told First Financial said, but also depends on the specific payment of Jiayue Ting 'ground' initiative.
Jiayue Ting whether there is sufficient assets to repay multi-party debt, is still an unknown number, while for the majority of music as suppliers and distributors, Jiayue Ting there are difficult to repay the 'heart debt' and this is the new music can restart station The key to it.
A music in Maoming City, Guangdong Province, the dealer told First Financial said that LeTV online has almost been 'abandoned.' Le TV many service issues have not been resolved in time; Le TV's 50-inch Great Wall Edition, 43-inch eco-version The TV is good, but later became the price fight with the millet TV, but did not maintain the line price system.
LeTV has been half a step ahead of the change in Internet TV, but Jia Youting did not seize this opportunity to further expand the advantages of LeTV as a mobile phone, a car and a shift in focus. "The music dealer criticized Said that LeTV TV itself has never made money in the past to support it, one is constantly financing, and second, to absorb the dealer's money.
The Maoming dealer complained that he had invested 1 million yuan to 1.2 million yuan in music television sales business in 2016. In the middle of this period, he had made profits for a short while and now he has deducted 500,000 yuan of rebates and 700,000 yuan left. Music as the tension of the capital chain continue to ferment, some music TV online selling price is lower than his purchase price, he cut prices in May handled a number of music products.
Music Watch 2017 Third Quarterly Bulletin revealed that the first three quarters of last year, LeTV loss of 1.6 billion yuan in 2017 November and December, the music network 'Sun Hongbin Jin Jiating retreat' situation further enhanced Sun Hongbin's Sunac China to the music network, New music as intellectual home loan 1.79 billion yuan, while Sun Hongbin's Liu Shuqing was promoted to general manager of music Watch, and the new music as the legal representative of the intellectual home from Jiayue Ting into Zhiwei, the upcoming acquisition by listed companies LeTV film industry's first The majority shareholder also changed from LeTV Holdings to Sunac Jia Rui of Sunac Associated Company.
With Sun Hongbin and Sunac financial support, LeTV TV supply chain to move up again.On December 26, 2017, LeTV released a series of ten new TV.
However, the above music Maoming dealer thinks, 'Music can not afford to come, not just whether to pay back the more the key is whether there is a banner carrying people.'