Announcement, Jiayue Ting 102,426.66 million shares held by the company, accounting for 25.67% of the total share capital, of which 1,019,539,800 shares have been pledged to financial institutions, there is the risk of being disposed of by the relevant institutions can not be timely additional guarantees, which may lead to the actual controller Changed.
In addition, the Company has formed a large amount of related receivables and prepayments by way of capital transactions such as sales of goods, provision of services and other prepaid expenses to related parties controlled by Mr. Jia Yunting since 2016. As of 30 November 2017 , The above related parties to the listed company's outstanding balance reached 7530000000 yuan.Although the company is actively involved in arrears collection of related parties, but there is still the risk of recovery.Up to now, some of the company's related accounts receivables have not yet recovered , There have been companies to form a large number of upstream suppliers unable to pay the debt, a large number of debt defaults and litigation and other issues.
As of yesterday, the music video resumed trading after the stock price has fallen more than half.At the same time, Music Watch promptly said that the company a debt of 5.619 billion yuan will expire in 2018, which is apparently worse for the music funds in the dilemma.