When a company's bad news has become a daily routine, once there is a glimmer of good news, it will be infinitely amplified, even if the news is rumored.
This phrase is used to describe the current new music as wise, I am afraid that is appropriate.
From the outbreak of the music crisis in late 2016, almost all news related to music is negative. Now when we see these two, many people think of not video resources, Internet TV, membership fees for mobile phones, but 'do not fly. ', 'Debt' and 'Back to China next week'...
As a result of being part of LeTV, the new Le Chi Sage, which is the main provider of Internet TV business, also suffers from this situation. The brand image is trapped and television sales decline. The bad news has always been accompanied by it. However, the new music sensation has already exploded. The two news have attracted attention, one is good, and the other is a bit of mystery.
One love and one worry, two news conveyed different information
Say good news first.
On the evening of March 30th, LeTV.com (4.500, -0.22, -4.66%) announced that the company's important subsidiary, Xinlezhizhizhi, plans to sign the “Internet TV cooperation project cooperation agreement” with Shenzhen Tencent Computer Systems Co., Ltd. in the near future. New music as Wisdom and Tencent Video agreed that the content of the living room will be developed. Tencent's video and TV copyright content will be presented on LeTV. The two parties will share the commercial revenue generated by Tencent’s video content on LeTV as agreed. Divide into.
It is reported that the "Cooperation Agreement" has a three-year performance period. After the expiry of the agreement, both parties enjoy the priority of cooperation. This, it seems, is extremely tactful.
The second message was full of suspense.
On the afternoon of April 3, the First Financial reporter learned that Zhang Zhiwei, the CEO of the new Le Zhi Zhijia, was in a 'vacation' state, reporting that this was confirmed by Zhang Zhiwei himself to the CBN. Zhang Zhiwei was the successor to Liang Jun after Sun Hongbin's imperial appointment. He is also a trader of LeTV. He returned to LeTV in September last year and became LeTV's senior vice president and LeTV's new CEO. Now, after the company announced that it has worked closely with Tencent, the traders have been on holiday and have to be given by the outside world. Many interpretations.
When the news of the cooperation between Xin Le Zhizhi and Tencent emerged, the outside world's reaction was unanimously optimistic. The LeTV investors seemed to see the dawn of hope, and the melons began to speculate on why Tencent wanted to pick up this muddy water. There were even people. In this connection, it is believed that the new Le Zhi wise men hold Tencent's thighs, and it is possible to get rid of the mud.
However, this ordinary cooperation, if combined with the analysis of CEO Zhang Zhiwei's vacation, I am afraid that the so-called benefits are only being over-amplified.
Long drought every rain, just a drop of water
When we calmly analyze the contents of the agreement, we will find that the two have only achieved cooperation in terms of content. In response, Liu Buchen, a veteran household appliance industry observer, said to understand the notes, 'In fact, the new LeTV and Tencent Video cooperation, if put into the entire industry of the home appliance, is only a very modest cooperation. The two have only reached a certain agreement in terms of content.
Liu Buchen emphasized that Tencent, as a resource party, needs a certain platform to present, and that the new LeTV Sensei as a TV manufacturer will naturally become one of Tencent's video partners. It is not just LeTV. Previously, Tencent's video has also reached related cooperation with other TV manufacturers. .
At the same time, Liu Buchen pointed out that the new LeTV Wisdom and Tencent video reached a cooperation, the side also reflects the current LeTV network content resources are scarce. 'After all, before the LeTV crisis, LeTV but has been strongly declared their own content, LeTV It has also been using LeTV's resources as an important selling point. This shows the current dilemma of LeTV.'
Therefore, it may be because the LeTV system has been negatively affected. The degree of cooperation with Tencent has been over-amplified. Although, the cooperation between the two may play a certain role in stimulating the sales of LeTV, but the Not to return to the top of the mountain. After all, the main reason that restricts TV sales for LeTV is by no means content, but rather the factors behind LeTV's two words.
This drop of water may not fall on LeTV.
In addition to the cooperation itself, we also need to pay attention to the fact that the new music sensation that we are working with Tencent may not be considered as music soon.
On the evening of April 3rd, LeTV.com (300104) made a statement in the relevant reply to the Shenzhen Stock Exchange's inquiry letter that the company had pledged the shares of the new LeTV zhijia in the financing process with the financial institutions and other borrowers. If the company fails to repay the debt on time, the pledged assets will be disposed of according to law, and the company will face the risk of losing the actual control of the new Le Zhi zhijia.
In other words, once the capital is insolvent, the new LeTV’s second largest shareholder, Tianjin Jiahui Huixin Enterprise Management Co., Ltd., will replace LeTV as the actual controller of the company. This Tianjin-based company is LeTV. Former chairman Sun Hongbin's company, which means that the financial innovation department will win the new Le Chi Wise.
Earlier, Sun Hongbin stated on Sunac's annual results conference on March 25 that Sunac was mainly invested in three segments of LeTV, LeTV, New LeTV, and LeTV (which was renamed as LeCine Entertainment. Among them, Sun Hongbin disclosed that LeTV has long been insolvent and there is almost no need for rescue. It also set three retreats for LeTV, bankruptcy and restructuring, sale of assets for debt repayment and delisting. This shows that Sun Hongbin is responsible for LeTV.com. Already disheartened.
However, Sun Lebin thinks that he can still rescue the new Le Chi Wise Home and LeTV Film Industry. According to reports, Le Chuang Entertainment will increase the capital in the next step. There are many interested investors who are willing to join in the financial innovation. And the new music as The wisemen are also promoting financing. According to the news, Tencent is in contact with them. If the two really reached a cooperation at the capital level, then for the new music as the wise family is the real long-term drought every time. However, the current music as the new wisdom Home is absolutely not a good asset, Tencent would not like to take this trick, it is hard to say.
In addition, the new music as the wise family's 'surname changed' seems to have been doomed. With the CEO Zhang Zhiwei 'vacation' news exposure, the outside world for the new music as the wise family has begun to have a variety of guesses.
Regarding the rumors of Zhang Zhiwei’s departure from the outside world, Liu Buchen thinks that there may be two reasons: First, Zhang Zhiwei has not achieved decent results since returning for six months. There has been no growth in LeTV’s sales, and she has been disappointed even if she has not achieved results; Second, he himself participated in the cooperation between LeTV and Tencent. For the new LeTV Sensei's 'change of surname', the insider must be quite clear. Regardless of whether he was surnamed Tencent or Fuxin, his exit was inevitable, so he was passive. Out of the game, it is better to resign.
Conclusion
Now, LeTV has changed its name to Rongchuang (Tianjin Jiarui holds a 40.75% stake). The new LeTV zhijia may also be included in the bag. For the remaining LeTV, Sun Hongbin has no hope that he will Do not want to let the hands of LeTV and New Music as Sensemaker and LeTV as a relationship.
For the future of LeTV, Liu Buchen stated: 'Sun Hongbin's analysis is not wrong, and delisting is the most likely outcome. 'Now, Sun Hongbin, who has spent 15 billion yuan, wants to fight against Jia Yueting, but Sun Hongbin’s hands are not Too many chips. 'So, LeTV's delisting has become the biggest blow to Jia Yueting's repair business.'
As for LeTV and its investors who want to save themselves, I'm afraid we can only hope that Jia Yueting will return to China next week. After all, no matter whether it is Sun Hongbin or Tencent, this knot cannot be touched.