For LeTV, currently, Sunac holds a 21% stake in LeTV. If Sunac took over 21.81% of the shares of LeTV Holdings, it will almost achieve absolute control with 42.81% of the shares. Otherwise, it will still be 'The second child'. So, this time, Sunac will be followed by the industry.
On Friday, LeTV Holdings held a license to sell the shares of LeTV, which will be auctioned through the Internet. The shares held by LeEco Holdings are applied for auction due to judicial execution, and it is worth noting that One of the application executors of the auction was the one that once rushed to Jia Yueting in the most difficult time.
LeTV Holdings will hold a new shareholding in Le Rong
According to the auction announcement issued by the court litigation assets network, the equity of the auction is divided into three targets, including 18.38% equity of Lerongzhixin held by Leshi Holdings and 21.8122% equity of Leshi Film. The equity was divided into two target auctions. According to the announcement, the first auction target was the amount of RMB 31.445 million invested by Le Shi Holdings, which was equivalent to Le Rong’s new capital increase before August 31. 10% equity (8.34% equity after capital increase), starting price of 131 million yuan, evaluation price of 187 million yuan. According to the data, the first target auction applicant is Minsheng Trust. The second auction target is held by Leshi Holdings. Some of Le Rong’s new capital contribution of 26.183 million yuan is equivalent to the 8.38% equity of Lerong’s new capital increase on August 31 (6.99% equity after capital increase). The starting price is about 110 million yuan. The price is 156 million. The executor of this auction is AVIC Trust. The reporter of Beiqing Daily understands that LeTV Holdings holds a total of 57.43 million yuan of capital contribution from Lerong, which means that the two auction targets include LeEco Holdings. All the music owned by the company has a new interest.
In addition to losing all of its owned shares in Lerong through this auction, LeTV Holdings may lose all its rights to LeTV. The third auction target of this auction is held by LeTV Holdings. All of LeTV's 21.8122% equity, which is the entire shareholding of LeTV Holdings owned by LeEco Holdings. The starting price of the target is 531 million yuan, and the evaluation price of this part of the equity is 759 million yuan. The person is the Sun Chuang, who is in charge of Sun Hongbin.
Le Rong caused a new year's valuation to evaporate 94%
The reporter of Beiqing Daily noticed that according to the 10% equity of Lerong, the company was assessed as 187 million yuan, which means that the current overall valuation of the assets that have been most favored by LeTV is only 1.87 billion yuan. A year and a half ago, the stake was also valued at 30 billion yuan, which means that Le Rong’s valuation for the new year has evaporated by 94%.
It is understood that Le Rongzhixin is actually the most acclaimed by Jia Yueting. Later, Sun Hongbin renamed it "Xinle Visionian" and was recently renamed as 'Lee Rongzhixin'. Mainly engaged in LeTV's super TV hardware business. LeTV Super TV has developed the largest in domestic Internet TV, the fastest development, and is optimistic by many people. In February last year, Sun Hongbin also highly valued LeTV when he invested 15 billion yuan in LeTV. Business, he was optimistic, 'At least on TV, LeTV is better than Apple'. He said that although investment is risky, but this investment (referring to the investment at the time LeTV) is no problem. Understand that in Sun Hongbin's blood transfusion, his subsidiary Jiarui Huixin obtained a 33.5% stake in Le Shizhixin at the time through equity transfer and capital increase and share expansion with 7.95 billion yuan, and became the second largest shareholder. At that time, LeTV's new valuation was at least 24 billion yuan. This is actually the price that Jia Yueting gave Sun Hongbin a discount, because according to the data released by LeTV.com, LeTV's new valuation is 30 billion yuan, and its Just push the price over the transfer of foreign ownership. Also in February last year, won the music, as the Zhixin Electronics Co., Ltd. Truly strategic investment of 720 billion yuan, which gained 2.34% stake in the new music as caused by the investment.
In addition, through this auction, LeTV's valuation is not optimistic. According to the third target, LeTV's evaluation value is 3.48 billion yuan. But in December last year, Sun Hongbin's Jiarui Huixin It took 1.05 billion yuan to transfer 15% of LeTV's equity from LeTV Holdings to become the second largest shareholder, which means that LeTV's valuation was at least 7 billion yuan. In just one and a half years, LeTV Pictures The valuation has also been halved.
Rongchuang will not take over this time.
According to the semi-annual report previously disclosed by LeTV, the new equity of Lerong, which is held by Leshi Holdings, has all been frozen before, and some or all of them will enter the judicial auction process. LeTV has emphasized the possibility of losing Lerong in many announcements. The risk of new control.
In February last year, Sun Hongbin’s details of 15 billion yuan in aiding LeTV were to acquire 8.61% of LeTV’s shares from Jia Yueting as the second largest shareholder of Jiayue.com, and to transfer shares and increase capital through 7.95 billion yuan. Acquired 33.5% equity of Leshizhixin and became the second largest shareholder of the company; and transferred 15% equity of LeTV Film from LeTV Holdings to become the second largest shareholder of the company with 1.05 billion yuan. At present, Sunac is in LeTV. Lerong is new, LeTV is the second largest shareholder. Then, in this equity transfer, Sunac will continue to take over and become the focus of attention. On the one hand, Sun Hongbin has already given up on LeTV. Attitude, the money that has already been invested has been squandered. He is afraid that he will not be willing to invest another penny. But on the other hand, if Sunac takes over, it is obvious that the cost line of the previous high-priced acquisition can be diluted. LeTV can be brought back to life, I am afraid it can reduce some losses. Especially for Le Rongzhixin, although the current situation has not improved, but it has just completed a new round of financing, including Tencent, Jingdong, Suning, TCL and other strategic investors About $ 3 billion, was caused by the new Le financial valuation still reached 90 billion yuan. So this is a new music-induced financial valuation of 1.87 billion yuan really unexpected.
For LeTV, currently, Sunac holds a 21% stake in LeTV. If Sunac takes over 21.81% of the shares of LeTV Holdings, it will almost achieve absolute control with 42.81% of the shares. Otherwise, it will still be It is the 'second child'. So, the key now is how Sun Hongbin evaluates LeTV today.
Of course, on the day of the auction, there will be unexpected mysterious buyers, and it is hard to say!