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If you want to use a word to sum up 2017, the words 'mourning' is a good choice. This year, anxiety and frustration is not only the daily life of ordinary people, but also the key words of commercial bigwigs, investors and entrepreneurs. In one year, with the tidal wave of the live broadcasting platform collapsing, Jia Yunting still did not come back to China to draw a conclusion. In the process, there are easy-to-use car owners, cyclists sharing bicycles, red, yellow and blue events, etc. Everything makes the facts appear clearer : Since ancient times, shopping malls like the battlefield, some people scenery, there must be sad ... For investors and entrepreneurs, the event of death will never be less, venture capital road is not smooth. Take this opportunity to vote online inventory of the 2017 top ten frustrated people. 1, Jiayue Ting 
In 2016, Jiayuenting was also the head of a listed company with a market capitalization of more than 60 billion yuan, and he was still suffocating his dream of music ecology. However, the capital chain problem at the end of 2016 has become the first domino to fall, Opened the road to collapse. The crisis will be music as Sports, LeTV and other music as the company are involved in the whirlpool .In early 2017, Sunac China smashed 150 million yuan for the music, trying to save, but with little effect.Subsequently, LeTV's key words seem Only 'debt collection' and 'employee turnover' remain. From April to July 2017, LeTV experienced a crisis of "misappropriation of 1.3 billion easy-to-fund", with the stoppage of LeTV, Jia Yueting resigned as general manager of LeTV, large-scale layoffs, and a number of banks applied for property preservation to freeze LeTV's corporate deposits , The collection of debt collectors and other comparable as large-scale plot of the United States as the gun-like events of all kinds. After these events, in July 2017, Jia Yueting resigned from the position of LeTV and made his own cars in the United States alone.Afterwards, Jia Yueting, who claimed he wanted to go back to China next week, was included in Lao Lai Hei because of overdue debts of many brokerages List ', but also with Lao Lai identity boarded the New York Times. In November 2017, Jia Yueting, who had never returned home, cried out that his frozen personal assets were 40 billion yuan and his family's capital was less than 1 million yuan, even his wife, Wei Wei, did not believe him. "The Hurun Report also showed , Jia Yunting's personal wealth has shrunk from 42 billion yuan in 2016 to only 2 billion yuan in 2017. 2017 has passed, Jiayue Ting still has great hopes of making cars, but Faraday's always confusing financial news makes everything look a little slim. By January 2, 2018, still in the United States, Jia Youting said in a personal Wechat account that he would delegate the debt of listed companies to his wife, Gan Wei and his brother, Jia Yuemin. On January 8, 2018, Gan Wei published a Weibo Said it has sold two 760 million yuan of assets to solve some of the music as part of the debt and subsequently further communication with China Merchants Bank, hoping to thaw part of the frozen assets to repay more Music debt. 2, Sun Hongbin 'I had no regrets in my life until I invested in LeTV, but I really regret my life if I did not invest in LeTV after it was invested in.' In September 2017, at Sunac China's mid-2017 At the press conference, Sun Hongbin, chairman of Rongchong China's board of directors, said that as soon as music was choked, he took off his glasses and wiped tears in his eyes. At that time, Sun Hongbin just spent tens of billions of yuan to win China's largest brigade project from Wang Jianlin. However, referring to the music that has been 'unable to help', Sun Hongbin still shed tears. In January 2017, Sun Hongbin, the hometown of Jiayuenting, smashed over RMB15.0 billion through Sunac China and related companies for the first time in the face of the music-loving crisis in the capital chain. However, according to the 2017 semi-annual report of Sunac China, the company invested Part of the attributable performance, from the loss of 2.355 billion yuan in the first half of 2016 to 3.97 billion yuan, one of the important reasons is that the company lost over 4 billion yuan in music investment. To this end, Sun Hongbin had to start looking for new opportunities in the capital market .In December 2017, Sunac announced placement of 251.5 million shares at a price of 31.1 Hong Kong dollars to raise 7.882 billion Hong Kong dollars .After the release of the placement information, a record-breaking opening fell more than 10% Today, Jiayue Ting insist on making cars in the United States, and music as many businesses have not seen improvement, Sun Hongbin tears can be said to be very helpless. 3, Zhou Hang 
Before LeTV became the "classic case of the first major Internet bubble burst," the internet-to-car platform experienced a turmoil earlier than music. On April 17, 2017, Yi Hang founder Zhou Hang said in a statement that it has easily misappropriated 1.3 billion yuan, causing easy-to-severe financial breakdowns. Three days later, he made a statement with other co-founders and announced his resignation to all positions. Easy to formal easy master. Originally created by Zhou Hang in May 2010, the car platform was once considered by the market as "the pioneer of the first car." In the first five years, Yi to be considered a thriving on the domestic market, this situation has continued By 2015, this year, Dripping began to make taxi software, and Uber China began to make determined efforts. In order to seize market share, Uber and the drops burn the oil at a rate comparable to that of oil barrels in 2015. During this year Uber burned 2.5 billion U.S. dollars in China, while dropping 12.2 billion yuan in a year Yuan, the two sides basically flat.Easy to decide onlookers, Uber and drip in the continuous attack, a step by step lost the battlefield.Easy to reach market share squeezed smaller and smaller by 2017. During this period, The company repeatedly exposed the cash difficulties. Subsequently, the music as the shot did not save its in the water and fire. About easy to get out of retirement, Zhou Hang admitted in an interview admitting his market judgment error.In 2013, Ctrip founder Liang Jian Zhang had suggested that he put the car prices to a minimum, because he felt that does not comply with the laws of economics rejected. Six investment agencies found him in the first half of 2014, hoping to participate in a new round of financing of 300 million U.S. dollars. Zhou Hang also rejected Zhou because he felt it unnecessary to take so many shares to change his money. Failure, that is, did not start from the start of financing in 2014. 4, Zhao Wei 
Zhao Wei from the star cross-border investment, once due to stake in Alibaba Pictures cash more than 10 billion yuan investment in film, Ruidong Group and other companies, was once known as 'female version of Buffett' However, a ban in 2017 Let her fall a big man In November 2017, the SFC announced that because of the disclosure of suspected culture such as Wanjia Culture (renamed as Xiangyuan Culture) and Longwei Media, the two companies and relevant responsible persons, Zhao Wei and Huang Youlong, will be subject to administrative penalties and 5 years the market is forbidden.Among them, Long Wei media is a subsidiary of Zhao Wei, Zhao Wei holding 95%. The penalty incident stemmed from a deal in December 2016 when the Wanjia Culture planned to transfer 305 million shares of the Company (representing approximately 29%) to Longwei Media for a consideration of 3.06 billion yuan, but because the market The sources of funds have been questioned, the Exchange sent a letter to ask. Long Wei media replied that the acquisition of 3.06 billion yuan, only 60 million shareholders own funds, and the remaining 3 billion yuan from third-party institutions and financial institutions pledge financing .This is close to 51 times the acquisition leverage Lead to market hot. Ultimately, this attempt to 60 million yuan of shares leveraging 3.06 billion stake in the acquisition, the Shanghai Stock Exchange issued a circular 17 inquiries, the SFC face punishment, Zhao Wei and others not only lever dreams, but also withheld the market Hat do not know the acquisition will not become the star of the beginning of the failure of leverage. 5, Chen Europe In 2017, Chenou was really busy with investing in film and television drama, but also taking the time to research and develop air purifiers, taking into account the shared charging business. So busy that its 22 consecutive months failed to shareholders Make meaningful exchanges, and the company's earnings report can only be sent to Weibo. May 2017, Chen Europe invested 300 million yuan to invest in Charging Po street technology, holding the latter about 60% of the shares, also served as street chairman; two months later, the United States and the United States's film and television company announced the shooting of IP drama "Warm strings," plans to cost 96 million yuan; the same time, the United States Merit cross-border air purifier. Chen Ou and Wang Sicong repeatedly publicized each other in order to share the topic of "Charging treasure in the end." A month after the two debates, street TV was exposed to management turmoil, the founding team of software and hardware executives left. This, Chen Europe said the team flow is normal, do not have to interpret. Unfortunately, shareholders and the market do not seem to buy these accounts. In August 2017, U. S. stockholder and American Hengrun Investment Company issued a public letter saying that in the eighteenth month of Chenau's share price disaster, A series of mistakes made the U.S. market lost $ 397 million and the letter also pointed out that the U.S. investment target of $ 280 million raised by the U.S. IPO in 2014 for investments in non-core businesses such as TV shows and street telematics is questionable. At the end of November 2017, the United States has been privatized for 21 months to end its trading. Its share price has dropped from 22 U.S. dollars at the time of listing in 2014 to around 3 U.S. dollars at the end of 2017. The personal wealth of Chenou also shrunk dramatically. 6, Wang Jianlin In 2017, Wang Jurong, chairman of Wanda Group, who was still the richest man last year, was indeed somewhat frustrated by the formation of the richest people in China, Xu Jiayin, Ma Yun and Ma Huateng in 2017. Forbes released the "2017 China Rich List TOP400 List" in November 2017, Slipped to fourth place. Although still in the forefront of the richest, but the list of most wealthy wealth have increased to varying degrees, Wang Jianlin assets fell over last year's super-54 billion yuan, of which the reason is Wanda has experienced asset sales, including large-scale Asset restructuring, while its US chain cinema AMC's market value decline. According to a public report, Wanda relocated 77 hotels to R & F Properties in July 2017 and transferred 13 brigades to Sunac Group, which lost nearly 80% of its land bank. In addition, Wang Jianlin's Wanda commercial return A-share road also not smooth, for several months has been suspended in the Shanghai IPO IPO line between 50 to 60, which signed a 'gamble agreement' Wang Jianlin is quite tricky. Wanda privatization project shows that Wanda will repurchase its entire share capital and pay 12% and 10% interest respectively to overseas investors and domestic investors if Wanda fails to list A shares before August 31, 2018. In September and October 2017, the three major international rating agencies lowered their credit ratings respectively, triggering a provision of Wanda to repay some of the overseas loans ahead of schedule, surpassing $ 1 billion in size. It is foreseeable that if Wanda Commercial is in the A-share market, Listing failure, the overall debt repayments may be concentrated outbreak. 7, Lei thick justice 
The shared economy track brought by the shared bicycle was undoubtedly the first hot spot in the venture capital circle in 2017. However, seeing him playing the Zhu Lou and seeing him banquet guests saw that he was collapsed, after several rounds of industry reshuffle, Head of the company ofo and worship are still stalemate, just won the two rounds of 3.3 billion financing Harold cycling war situation and plunged into confusion, and many 'little fish' are unable to escape the collapse or the outcome of the merger. The first shared bicycle to roll down was Wukong in 2017. Former founder Hou Yih-yih feel frustrated about the "overnight success" of the Goku cycling project, "Someone defined me as the Internet's most famous I'm crazy! I'm actually a very optimistic person. " Wukong bicycles collapsed blew the tide of cyclists, Xiao Ming cycling, cool ride cycling, cho cho, 3Vbike, a small blue bicycle and a large number of shared cycling companies have closed down. For the fallen shared bicycle company, the entry time is too late, the bicycle is fragile, easy to lose, shortage of funds and so are the important factors that caused its death.While the root causes of the collapse is that the industry has come to mergers and acquisitions integration Period, the collapse of the body can be said that the bones of the inevitable trend of development of the industry. 8, Liang Jian Zhang For Ctrip chairman Liang Jianzhang, 2017 is really worrying, although it is the largest online travel platform in China, but Ctrip did not fare this year. First, in May 2017, Ctrip was reported to the Payment and Settlement Association by a real lawyer for allegedly selling a prepaid card with a gift card as a carrier on the suspicion of not paying the license. Subsequently, in early October 2017, Take the lead shelled 'bundle sales' insurance products into the whirlpool of public opinion, triggering a variety of online denunciations, the reputation fell to the bottom; two weeks later, Ctrip shares held important shareholder Priceline strategic investment also has the online travel business of the United States, Ctrip price diving day . By early November 2017, the storm of Parent-child Park once again put Ctrip on the cusp; less than 10 days after the incident fermentation, the company's market value evaporated more than 6 billion US dollars.By December 2017, Ctrip's sales of insurance products in the existence of 'not yet A clear disclosure of underwriting companies, sales agents' and other acts, Shanghai Insurance Regulatory Bureau opened two of its total 40 million tickets. Ctrip, which was hit by a series of negative news, can be said to have experienced a year-long fall and fall. 9, Zhang Yi The lively popularity of Wanjia Live in 2016 is still fresh in memory, but unfortunately this grand occasion did not last too long. By 2017, fanatical investors and entrepreneurs have to face the feats in this industry. The beginning of 2017, aperture broadcast because of adverse rounds of A round of funding, the official website to stop service.Important data show that the aperture broadcast has won the United Capital, Purple Spark Ventures, synergistic innovation 12.5 million angel round of financing, valuation has as high as 500 million yuan. In the tide of the live broadcast, the aperture was a potential unicorn favored by the capital. Shortly after the aperture closed down, the tidal wave of the live broadcast platform was officially launched. Eighteen platforms, including live-action live broadcast, live broadcast, convex TV, and live broadcast networks, soon failed to land or close down. In April 2017, The letter office closed 18 live broadcast applications like Apricot Live, Peach Show and Bee Live; two months later, 11 law enforcement agencies including the "Goku TV" were shut down in the multi-cultural market and 11 mobile phone performance platforms were closed. I still remember that all the people broadcast the 'Golden Age' in 2016, and many entrepreneurs and investors were killed in fear of missing out on this bus. The capital boosted the domestic live broadcast platform once to over 200. However, the industry has cooled down faster. In late 2016 and early 2017, with the frequent chaos in the industry and the tightening of relevant regulations, the cash flow of the live broadcasting platform began to be tight. Continuous profitability became a huge problem and the collapse followed. 10, Meng Liang Another child abuse incident was exposed shortly after the Ctrip's Parent-Child Garden incident in early November 2017. This time the protagonist is the Beijing Red Yellow Blue Kindergarten. On the evening of November 22, 2017, many young parents reported to the police that Beijing Guanzhuang Yellow-blue kindergarten (Xintiandi sub-garden) Preschool teachers encounter needle, feed unknown pills and so on. The child abuse incident not only became a huge social event, but also triggered a crisis of trust and capital crisis among related companies.RYB Education Limited, a listed company with red, yellow and blue, was listed in the United States at the end of September 2017. Before the child abuse incident was exposed, Share price has been maintained at a high level .After the child abuse incident is exposed, its share price plunged more than 40% before the close of trading on November 24, 2017, below the IPO price .Open information shows that the major shareholder behind the red, yellow, Controlling shareholders reached 43.6% of the capital stock, up to the founding partner of the capital Meng Liang is a red, yellow and blue directors .With the red, yellow and blue plunge, ascribed to capital losses. On November 25, 2017, a circular was published in Beijing police saying that Liu Moumou, a teacher involved in red, yellow, blue sky, and kindergarten, has been detained according to law on suspicion of ill-treatment of guarded persons. Subsequently, the red, yellow and blue authorities issued a statement regarding the park management loopholes Will be responsible for the dismissal of teachers Liu Moumou involved, the removal of Xintiandi kindergarten head of the position and conduct a thorough rectification; November 28, 2017, Beijing police once again issued a circular that the network involved in kindergarten groups 'molestation of young children' , A television station reported that the park was infested with infants and other tablets for the preparation; December 29, 2017, Chaoyang District, Beijing People's Procuratorate suspected abuse of caregivers Liu Moumou arrested for the arrest. Until the last day of 2017, the share price of red, yellow and blue will not exceed the issue price of IPO. In addition to the share price being affected, the social trust in the company will decline and its future financial performance will be further affected. For example, the number of enrolled students will decrease and its kindergarten will expand Plan or can not be successfully implemented.
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