After Jia Yueting announced that the music department debt problem will be the sole responsibility of his wife Gan Wei, Gan Wei seems to have no relish.
On the afternoon of January 7, Gan Wei said in a news release on Weibo that after the joint efforts of himself and the debt handling team, the actual settlement of some of the debts has been achieved through the method of repossessing debts and assets.
Among them, the music as the core of high-quality assets Mall to 92.9 million yuan debt to the music as a subsidiary of LeTV listed company as new music as intellectuals, part of the debt repayment of listed companies.
Secondly, by selling the shares of Coolpad Group (2369.HK), the transfer price of HK $ 807 million was offset directly by China Merchants Bank for the corresponding part of its debts (principal and interest of the original debts of approximately HK $ 1.4 billion) and the debt service ratio was nearly 60%.
In fact, on November 17, 2015, LeTV formally signed a strategic cooperation agreement with Shanghai Branch of China Merchants Bank, and both parties will reach long-term strategic cooperation in such areas as comprehensive credit granting, cash management, financial consultancy and international business, among which, China Merchants Bank Shanghai The branch will provide AUD $ 10 billion strategic global integrated credit line to LeTV and its subsidiaries to meet the funding needs of LeTV domestic and overseas businesses.
21st Century Business Herald reporter has learned that China Merchants Bank to provide music as the controlling stake of 100 billion credit line, is the music as the control and commercial banks at the time of cooperation received the largest amount of credit credit support.In July 2015, the first The credit business was officially launched with total financing amounting to HK $ 2.74 billion, culminating in a loan of HK $ 2.74 billion for the acquisition of an 18% stake in Coolpad Group (2369.HK) by LeTV.
As for the reduction of shares of Coolpad Group, 21st Century Business Herald earlier released a report entitled "Jia Yunting reduce 12% stake in Coolpad 1.2 billion loss, frequent cash settlement difficult to resolve the debt crisis," the report on the music as a matter of this line Detailed explanation.
In addition, Gan Wei also said that in the next step, it will actively seek to seek communications with China Merchants Bank, hoping to thaw the frozen assets to a corresponding percentage so that Jia Youting can repay more debts of creditors.
Since the listing of Music Watch (300104.SZ) in 2010, Jia Yueting has raised over 50 billion yuan in various forms of foreign financing and currently has an actual external debt of up to 10 billion yuan.