日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Companies

LeEco faces 'bigger than ever' crisis

By Ma Si | China Daily | Updated: 2017-07-06 09:03

Freezing of assets set to decrease investor confidence in Leshi unit

With 15.9 billion yuan ($2.34 billion) worth of stocks frozen by a court, Chinese billionaire Jia Yueting and his internet company LeEco are facing a "bigger than ever" crisis.

Leshi Internet Information and Technology Corp, the listed video-streaming unit of LeEco, said in a filing on Tuesday that unpaid debts prompted a local court to freeze its founder Jia's 519 million shares, around 26 percent of Leshi's stock.

That equals 15.9 billion yuan, given that the market value of Leshi stands at 61.2 billion yuan, and accounts for 99 percent of Jia's holding in Leshi.

The account will remain frozen for three years. Shanghai High People's Court announced the ruling because LeEco failed to pay interest due on bank loans taken out to fund its smartphone business. Jia used his shares in Leshi as collateral for the loans.

Lu Zhenwang, CEO of Shanghai-based Wanqing Consultancy, said although the shares were frozen due to Jia's personal behavior, it will undoubtedly decrease investors' confidence in the Shenzhen-listed Leshi unit.

"It will have negative impact on LeEco's ongoing efforts to integrate its film business in Leshi," Lu said. "This is a bigger than ever crisis for Jia and LeEco."

Leshi's stocks have been suspended from trading since April. On Tuesday, LeEco confirmed that another 1.24 billion yuan ($183 million) in assets belonging to Jia, his wife and three affiliated companies, had been frozen by the court due to unpaid debt.

LeEco has been wrestling with a financial squeeze since last November, with Jia admitted publicly that its expansion into smartphone, automobile, cloud and internet finance business had been a step too far.

The cash crunch worsened in recent months, although the company managed to raise a 16.8 billion yuan investment from real estate developer Sunac China Holdings and other investors at the beginning of the year.

Shen Meng, director of boutique investment bank Chanson & Co, said it would be possible for Jia to unfreeze his Leshi stocks through negotiations with banks.

"But the chances are very low given that LeEco is so weak financially that almost no bank is willing to lend Jia money," Shen said.

"In fact, Jia's influence is fading, as Sun Hongbin, chairman of Sunac, becomes the real leader of LeEco's quality assets, namely the video-streaming and smart television business," he added.

In May, Jia stepped down as chief executive of Shenzhen-listed Leshi Internet Information and Technology Corp, although he remains its chairman.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 久操精品视频 | 99热这里只有精品7 国产精品成熟老女人 | 在线看片中文字幕 | 在线观看免费黄色网址 | 天天看天天色 | 激情视频一区二区三区 | 国产4区 | 欧美首页| 北条麻妃一级片 | 极品颜值美女露脸啪啪 | 国产午夜激情 | 亚洲久久视频 | 国产ts视频| 欧美日本韩国一区二区三区 | 综合国产在线 | 91精品综合久久久 | 亚洲国产高清视频 | 成人av网站大全 | 青青草久久久 | 在线观看黄网站 | 亚洲欧美日韩一区二区三区四区 | 韩日黄色片 | 国产黄色免费大片 | 中文日本在线 | 麻豆国产一区二区三区四区 | 成人精品免费 | 日韩在线视频中文字幕 | 99综合| 开心春色激情网 | 亚洲精品一区二区三区在线播放 | 成人免费影院 | 色呦呦影院 | 另类天堂av| 在线免费观看日韩av | 亚洲免费黄色 | 国产在线观看免费网站 | 在线观看视频日韩 | 国产视频三区四区 | 人人干天天操 | 亚洲国产激情 | 一二三四国产 |