Reporter Lin Jinwei
Morning News Yesterday, LeTV.com announced that the company's net assets for the full year of 2018 was negative. The company has the risk of stocks being suspended. Two announcements of possible suspension of listings in the week, LeTV's share price has shrunk again this week, Thursday The intraday price fell below 3 yuan / share, setting a record low.
From the peak of 10.225 billion yuan in 2016 to 30 million yuan in the first quarter of 2018, the net assets of LeTV have been seriously shrunk. According to LeTV.com, it expects a loss range of 1.1 billion yuan from January to June 2018. The net assets attributable to shareholders of the listed company on June 30, 2018 are negative.
According to the latest revision of the GEM Listing Rules in 2018, if the GEM company's recent financial accounting report shows that the audited net assets at the end of the year is negative, the Shenzhen Stock Exchange may decide to suspend the company's stock listing.
LeTV.com said that the company's board of directors and management are trying their best to solve the company's current operational difficulties. However, due to the related party's debt, the company's financial problems cannot be solved. The company's operation has not been fully improved, and there is a possibility of sustained losses in the second half of the year. If the company's net assets for the full year of 2018 are negative after auditing, the company has the risk of the stock being suspended.
At the beginning of this year, companies such as Sunac, Tencent, Jingdong, Suning and other companies collectively increased their capital to participate in the business, and Lerong Zhixin is a subsidiary of LeTV. It is mainly responsible for the operation of LeTV TV. According to the announcement, although Lerong Zhixin has been related to The capital increase party signed the Capital Increase Agreement. However, due to the failure of LeTV Holdings to hold the new equity auction process of Lerong, the process of the transaction will not be completed on time, and the transaction procedure involved in the change of business registration cannot be completed, which affects the delivery progress of the relevant capital increase party. There is significant uncertainty in the satisfaction of delivery conditions.
Once LeTV was suspended, the biggest loss was the tens of thousands of shareholders. From the stock price point, the historical high price set by LeTV in 2015 has fallen by more than 90%. Such a big loss, not only small and medium shareholders, but also Central Huijin and a number of funds, asset management plans will also be affected.