On April 27, LeTV.com disclosed the “Announcement on the Use of Idle-Owned Funds to Purchase Banking Wealth Management Products in 2018” and agreed that the company and its subsidiaries will use the unused self-owned funds of up to RMB 600 million in 2018 to ensure high security. Well-banked financial products.
In view of this, Zhang Wei, Chief Financial Officer of LeTV.com stated that the 600 million yuan is only for financial management. If the company does not have sufficient liquidity, it will not purchase wealth management products or related activities. Taking into account the company's current cash flow is tight Some bank accounts have been frozen. There is uncertainty about the company's use of idle self-owned funds to purchase bank wealth management products in 2018.
investor:
Does the quarterly report show that there are 600 million LeTV products to buy financial products? What's the matter? It's not that the capital flow is extremely tight?
Zhang Hao:
Dear Investors, On April 27, 2018, the company disclosed the “Notice on the Use of Idle Private Funds to Purchase Banking Wealth Management Products in 2018”, and agreed that the company and its subsidiaries should use idleness of not more than RMB 600,000 in 2018. Investing in self-owned funds to purchase bank wealth management products with high security and good liquidity. The amount of RMB 600 million is only for financial management purposes. If the company does not have sufficient liquidity, it will not purchase wealth management products or related activities. The current cash flow of the company is tight. Some bank accounts have been frozen. There is uncertainty about the company's use of idle self-owned funds to purchase bank wealth management products in 2018.