Sun Hongbin, chairman of Sunac China, who is a "blood deficit" because of investing in music, has recently recovered a part of 'hard-earned money'.
Previously, Sunac Real Estate (Indirect Indirect wholly-owned subsidiary of Sunac China) applied to the court for enforcement of LeTV Holdings with a target amount of 790 million yuan. The execution procedure has been terminated recently. According to the court's ruling, Sunac has recovered the arrears. About 530 million yuan, and about 260 million yuan has not been recovered.
Among them, the recovered amount of 530 million yuan was the entire shareholding of LeTV Film (now renamed Lechuang Entertainment) held by LeTV Holdings, which was previously frozen by the court. The court deducted the case retained by the Beijing Chaoyang District People's Court. After the payment of 290,000 yuan, the remaining case of 530 million yuan has been returned to Sunachuang Real Estate.
On September 21 this year, Jia Yueting held a number of LeTV assets that were officially auctioned. The reason was that Sunac Real Estate Group 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 third intermediate people's court filed the case on January 3 this year, it issued an enforcement notice to the executor LeTV Holdings.
The enforcement ruling shows that in order to protect the lawful rights and interests of the executor, the Beijing No. 3 Intermediate People's Court freezes, allocates the bank deposits of LeEco Holdings, the interest on the loan to be paid, liquidated damages, interest on the debt during the delay of performance, and the burden The application execution fee and the actual expenditure incurred during the implementation. After the above measures are still insufficient to fulfill the obligations set out in the legal instrument in force, they are detained according to law, and the income of LeTV Holdings shall be fulfilled or the seizure, seizure, freezing, auction, sale It shall perform other assets of the obligation part.
According to the information released by the People's Court Litigation Assets Network, the starting price of 21.8122% equity of LeTV Film is 532 million yuan, and the evaluation value is 759 million yuan. This also means that its current valuation is about 3.48 billion yuan, and the peak period. Compared with the shrinkage of more than half. In the end, the big winner of this auction, Sunchuang wished to successfully bid for the 21.8122% stake in LeTV Film at the reserve price.
In this regard, some insiders pointed out that although the valuation of LeTV's film industry is declining, it is still a scarce quality asset in the entire LeTV system. In the past three years, LeTV has sought reorganization twice, trying to put LeTV in the listed company. The system is unsuccessful. During the peak period, LeTV's valuation reached 9.8 billion yuan.
As Jia Yueting left, LeTV Film was once caught in the 'dark moment'. At the beginning of this year, LeTV Film was officially renamed LeChuang Entertainment. In this series of changes, the status of Sunac is very important. It is worth noting that it is won. After the above equity of LeTV Film, Sunac’s shareholding in LeTV Pictures reached 42.81%, becoming the largest shareholder of LeTV Pictures.
During this year's Shanghai Film Festival, Zhang Chuang, CEO of LeChuang Entertainment, said in an exclusive interview with the Securities Daily reporter that 'the company's non-ticket income in the next three years will exceed the box office income.'
The travel and tourism plan is an important part of the non-ticket income. It is understood that in the business travel plan of Sunac China, there are 26 theme parks involving 2 million square meters. Among them, Le Chuang Entertainment, Le Chuang Wen Jing, Rong Chuanghua North has been in Zunhua, Hebei, and Ganjingzi Land Project in Dalian. Hebei Zunhua has landed the 'One Snow Township' project; and Dalian Ganjingzi has landed the 'Industrial Youth Coastline' project.
The above-mentioned insiders believe that the creation of the cultural tourism sector and the improvement of the industrial chain layout, Lechuang Wenjing through the cultural asset empowerment model, or play an important role in the layout of the business zone. In addition, these cultural tourism projects will make Lechuang Entertainment continues to receive a series of box office revenues, experience park ticket share and authorized income of Wenjing Town, while creating other diversified income.