LeTV negative net profit for the first three quarters of 2017 was 1.652 billion yuan.To calculate, the fourth quarter of the music quarter net loss reached a staggering nearly 10 billion yuan, that is, LeTV net loss of more than 100 million yuan a day in the fourth quarter of 2017 .
LeTV.com (300104) has not opened its doors yet after falling for five consecutive days. Investors who were deeply involved in them suffered another hit last night, and LeTV released its 2017 performance forecast for the year with a pre-losing of 11.6 billion yuan.
LeTV announced on the evening of January 30 that the company expects a net loss of RMB11.605 billion to RMB11.61 billion in 2017. In 2016, the company still reported a profit of RMB555 million.
For the specific loss items, LeTV explained that the Company suffered a substantial operating loss of approximately RMB3.7 billion due to continued capital shortage and liquidity turmoil from related parties during the reporting period. Considering the debt risk of the related parties and the recoverability And other factors, the Company expects to provide a provision of approximately RMB4.4 billion for bad debts of related parties receivables.In addition, the Company expects to make a provision of about RMB 3.5 billion for impairment of certain long-term assets.
Music Watch three quarterly show, the first three quarters of the music net loss of 1.652 billion yuan .To calculate, the fourth quarter of music net single-quarter loss reached an astonishing of nearly 10 billion yuan, in popular terms, is the music Watch in 2017 In the fourth quarter of each day more than 100 million yuan loss.
In response, the Securities Times reporter contacted many people inside the music network, each other said they did not comment.However, many outsiders think that this move or Sun Hongbin will be music negative multiple negative 'clear'.
In the first three quarters of 2017, LeTV did not make such a huge amount of bad debt reserves and impairment provisions.This time, LeTV breath 4.04 billion of related party receivables provided for bad debts and 35 Long-term assets of billions of dollars provided for impairment, the sum of the two reached 7.9 billion yuan, accounting for nearly 70% of the annual loss.
In contrast, the semi-annual report in 2017, LeTV net provision for impairment is much less arrogant.Let's semi-annual report in 2017 shows that the company assets impairment losses large scale, about 240 million yuan, Among them, the provision for impairment of intangible assets was 156 million yuan, the provision for depreciation of inventories was 2.019 million yuan, the bad debt provision for accounts receivable was 80.37 million yuan and the loan loss provision was 425,000 yuan.
To the music video 2017 three quarterly, LeTV three quarters of the asset impairment loss is only 260 million yuan.
Why such a huge amount of one-quarter volume devaluation in the fourth quarter has been elaborated on the nine risks recently revealed by LST.
In part of the related party receivables there is a risk of recovery, music Watch explained that since 2016, the company controlled by Jiayue Ting related parties such as sales of goods, providing services and other business operations and the formation of funds and other means of travel expenses A large number of related receivables and prepayments as of November 30, 2017, the above related party to listed companies the balance of outstanding loans reached 7531000000 yuan.
Therefore, it is not hard to understand why Lotte Network suddenly made a provision of RMB4.4 billion for receivables from related parties.
LeTV's pre-judgment at that time was that although the Company is actively carrying out the collection work on the above-mentioned related party debts, there is still a risk of recovery. Some of the related party accounts receivables have not yet been recovered and the Company has formed a large number of upstream suppliers Arrears can not be paid, a large number of debt defaults and litigation issues.
As for the provision of 3.5 billion yuan worth of long-term assets impairment provision, LeTV said that due to the careful consideration of the management of the company, the intangible assets of film rights, available-for-sale financial assets and other long-term assets impairment risk exists Recognition and judgment. After preliminary estimation, the Company expects to make provision of about 3.5 billion yuan for impairment of some long-term assets.
Since LeTV has already terminated the acquisition of LeTV, the acquisition of LeTV financial matters related to the above agenda is currently a time-honored event. Before the financial support, the two businesses were already "back to powerlessness," while LeTV's Film and television rights and financial assets and more are closely related, so in the absence of specific funding program before the blood, it is probably a helpless move to make huge asset impairment.
However, Sun Hongbin in one fell swoop 'clear' LeTV net shortfall, the music network or reproduce the line of life is unknown.