According to the People's Court Litigation Assets Network, at 10:00 on September 21st, the 21.8122% stake in LeTV Holdings held by LeTV Holdings will be auctioned on the judicial auction network platform of the Third Intermediate People's Court of Beijing. As of Beijing When the Commercial Daily reporter issued the manuscript, one person has signed up for the auction.
The reason for the auction of LeTV's equity held by LeTV Holdings is that Sunac Real Estate Group Co., Ltd. applied to the Beijing Higher People's Court for enforcement according to the previous decision of the China International Economic and Trade Arbitration Commission. After the implementation of the case on January 3 this year, the Beijing No. 3 Intermediate People's Court issued an enforcement notice to the executor LeTV Holdings according to law. According to the enforcement ruling, in order to safeguard the legitimate rights and interests of the executor, Beijing No. 3 Intermediate The people's court freezes, allocates bank deposits of LeTV Holdings, interest on borrowings payable, liquidated damages, interest on debts during the period of delay in performance, and the implementation fees and actual expenses incurred during the implementation. The above measures are still insufficient to perform. The obligations determined by the legal documents in force shall be detained according to law, and the income of LeTV Holdings shall be fulfilled or the seizure, seizure, freezing, auction, and sale of other assets that shall fulfill the obligations.
According to the auction announcement published on the website, the starting price of the 21.8122% stake in LeTV Film is 532 million yuan, and the evaluation value is 759 million yuan. All citizens, legal persons and other organizations with full civil capacity can participate in the bidding. At the same time, the relevant evaluation company also issued an evaluation report on the valuation of LeTV Pictures. As of December 31, 2017, the net assets of LeTV Films included in the assessment were 1.94 billion yuan on the valuation basis. Under the premise that LeTV Pictures can continue to operate as planned and achieve corresponding revenue forecasts, the estimated value is 3.48 billion yuan, and then the value of 21.8122% equity is derived.
The company's valuation of 3.48 billion yuan has been reduced by more than half compared with the overall valuation of 9.8 billion yuan that LeTV has achieved during its peak period, and the company's recent development is also difficult to achieve. Among them, LeTV has previously announced that it will The restructuring and injection of LeTV's assets was terminated in January this year. At that time, LeTV.com said that it was based on a comprehensive judgment on the equity of LeTV and its current operations, and decided to terminate the acquisition of LeTV.