LeTV launched an announcement on the evening of the 18th, confirming that Tencent, Jingdong, Suning and TCL and other companies reached an investment interest with New Lezhi Zhijia. Affected by the news, LeTV.com's share price rose daily on the 19th, with a daily turnover of 1.491 billion yuan. LeTV According to the Beijing News reporter, the new LeTV management team issued an internal letter on the 19th, saying that 'finally ushered in the first act of the reversal drama'. The new LeTV zhijia is considered to be one of the keys to Sun Hongbin’s livelihood. In today's situation, can 3 billion investment be able to recover the new LeTV literate? Is Sunac the biggest beneficiary of this capital increase?
Giant considerations
Tencent Says There Is No 'Pickup'
According to LeTV Announcement, Xinle's new investors include Zhichi Lichuang (Tencent Department Company), JD Bonance, Suning Sports, TCL Group, Haoyi Investment, Shijia Holdings, Hongyi Hongxin (Lenovo) and suppliers. Shang Jinrui displayed 8 companies. Among them, Linzhi Lichuang, Jingdong Boneng, Suning Sports, TCL Group, and Kyiyi Investment's capital increase price were all 300 million yuan, and the corresponding shareholding ratio was approximately 2.56%.
From the perspective of investment quotas, various giants entered the market. What are their respective considerations?
According to the new music wise homemaker, in addition to solving funding problems, it will also explore various aspects of cooperation with investment partners, such as cooperation with Tencent in the video field; cooperation with Jingdong to develop online retail and O2O; and content and retail development with Suning Collaboration; with Sunac, Sega launches a smart community, cultural and entertainment cooperation; cooperates with TCL to launch after-sales service; cooperates with Jin Ruixian in the development of smart hardware.
JD.com responded to the reporter's inquiry and expressed his optimism for the new music-viewing Wisdom 'platform + terminal + content + applications' and a huge user base ecology, saying that the cooperation will help achieve 'scenes linking' and 'data linking'.
The logic of cooperation between Xinlezhizhijia and upstream manufacturer TCL is obvious. TCL told the Beijing News reporter that the investment hopes to deepen the cooperation between the two sides in product supply chain and large-screen operation; all investment parties are optimistic about smart TVs. The explosive growth of the core home internet industry in the coming years.
Among the aforementioned partners, Tencent was the first to surface, one terminal and one content. LeTV announced at the end of the online announcement that 'Tencent's video and television copyright content will be presented on LeTV', and Tencent responded to the report again on the 19th. Said that the two sides are based on some cooperation in online copyright, there is no such thing as the so-called 'disc'.
LeTV
Sunac Holdings shares slightly lower than LeTV
Affected by the news, LeTV reached a daily limit of 19.91 billion yuan on the trading day. According to the data on the Exchange, Huatai Securities bought 40.51 million yuan of LeTV on Tianyiqiao Road, Xuhui District, Shanghai. The new LeTV management team on the 19th. Followed by the release of internal letters, saying 'finally ushered in the first act of the reversal drama', and at the end of the fate of the recount when it is necessary to redouble the counterattack.
Xinle Sensei is regarded as one of the keys to Sun Hongbin's livelihood. This is an important subsidiary of LeTV.
In January 2017, Sun Hongbin invested RMB 15 billion in LeTV, LeTV New (later renamed Xin Le Zhi Zhijia) and LeTV Industry, and in which, it obtained a 33.5% stake in LeTV for RMB 7.95 billion, becoming the second largest Major shareholders. Based on this calculation, LeTV’s new valuation was approximately 23.7 billion yuan. According to LeTV’s latest announcement, Xinle Vision’s Zhijia will increase its cash and debt by no more than RMB 3 billion at a valuation of RMB 9 billion. Valuation dropped sharply.
LeTV announced that after the capital increase, the proportion of shares held by LeTV dropped from 40.31% to 33.46%, and the shareholding ratio of Tianjing Jiahuihuixin owned by Sunac fell from 33.5% to 28.23%. As of now, LeTV.com will register as a new Lezhi Sensei. The 34.94% of the total capital (based on the 40.31% equity before the capital increase) has been pledged to Tianjin Jia Rui Huixin and Sunac. After the capital increase, the ratio will be approximately 29%.
In an interview with the media last month, Sun Hongbin once said, 'New LeTV Entertainment and New Music are wise, we will all think of ways to do it well, because it is not a listed company. Relatively speaking, the introduction of funds will be more flexible.' He also mentioned that ' New music as the wise family is a bit more complex. LeTV has holdings. However, the company's shareholding in the company's capital increase is higher than that of LeTV. It appears on the table, involving major asset reorganization, and has been approved for at least six months.
After the capital increase, the ratio of Sunac's indirect (through LeTV) and direct shareholding of new music as Wisdom is 31.09%, which is slightly lower than that of LeTV. Does this mean that it is only a matter of time before Sunac becomes the largest shareholder?
From the current shareholding situation, the introduction of new investors is naturally beneficial to Sunac, which helps to invigorate the music game.