After being withdrawn from the management network of LeTV, recently, Sun Hongbin publicly admitted that his investment in LeTV failed. He also stated that there are three ways to go before LeTV: Bankruptcy and restructuring, selling assets to pay off debt, and delisting, but All roads are very difficult.
On March 26th, LeTV announced that public media information about LeTV is likely to have a significant impact on the trading price of the company's shares. The company's shares were suspended from the date of the transaction.
In response to this, an insider of LeTV.com said in an interview with the “Securities Daily” reporter: “Sun Hongbin is still a shareholder of the company. His remarks are based on the disclosure of information to the company’s future when the law allows it. Judging. 'But the other party revealed that the current financial pressure within LeTV is still very large.
It is understood that after the departure of Sun Hongbin, the internal affairs of LeTV will be handled by Liu Shuqing. At present, the internal debt problem of the company has not been greatly improved.
No improvement in fundamentals
Recently, Sun Hongbin’s remarks pushed LeTV again to the cusp of the storm.
In this regard, an insider of LeTV.com stated that Sun Hongbin’s argument is personal and the company’s business is operating normally.
However, he disclosed: 'The company's funding situation is still very poor, the debt problem has not improved, the company's operating conditions have not improved, the financial pressure is still very large.'
In an interview with the media recently, Sun Hongbin also pointed out that currently LeTV is extremely poorly funded and is insolvent. Currently, LeTV has 7.5 billion yuan of creditor's rights and many of them are due this year. Most of them are LeTV's unlisted systems for listed companies. The money owed. At the same time, LeTV's copyright amortization, interest has more than 2 billion yuan each year, how to do it is very difficult, the company earned money simply does not cover interest and debt.
What is the future of LeTV?
Talking about the future of LeTV, Sun Hongbin stated that LeTV may follow three paths. The three paths are: First, bankruptcy and reorganization, but it needs multiple support from regulatory agencies, and the cycle is long, and even if it is reorganized, it needs to be not less than With 10 billion yuan in funds, no funds can be obtained in the current environment; the second is the sale of assets to pay off debts. Although the company has been very difficult to manage, it can maintain current profits, and will barely maintain its listing status in the short term;
When interviewed by a reporter from Securities Daily, Yang Zhaoquan, partner of Beijing Weinnow Law Firm, said: 'If LeTV's financial situation continues to deteriorate, there is a possibility of delisting. LeTV itself has brand value, and the company's business layout is also certain. The scope is recognized and it may be reorganized. The company's huge debt may also reduce the debt burden through debt-to-equity swaps.'
At the same time, Sun Hongbin emphasized that the new LeTV Entertainment (former LeTV) and the new LeTV (former LeTV) are still promoting related work, but regardless of the future business prospects of the new LeTV Entertainment and the new Le Zhizhi, they are The internet is not much related and will not have a positive impact on the management of LeTV.com.
After Sun Hongbin resigned from his position in LeTV, there were speculations about whether LeTV might usher in new investors, and LeTV's stock price also fluctuates.
In this regard, the LeTV insiders said: 'The retailer must pay attention to the control of risk, the current LeTV's equity is frozen, the new shareholders temporarily can not come in. Lao Jia (Jia Yueting) made a car with the company does not have much to do with.'
However, he revealed: 'At present, whether it is a bankruptcy reorganization or the sale of assets, these plan companies are accepted.'
Shen Meng, Executive Director of Chamson Capital said: 'Although LeTV may face delisting, in actual operation, it still has a lot of room for operation. LeTV has not completely gone yet. The current LeTV issue is not There is no shortage of solutions. What is missing is to reach a consensus of all parties. '