On July 17, the second extraordinary shareholders' meeting of letv.com 20 17 will be held in Hao Bo Rui Ting Hotel, Chaoyang District, Beijing.
Since Jia Yueting has resigned as the chairman of LeTV, the proposal on reorganizing the third board of directors of the company and by-electing non-independent directors has attracted much attention. An internal employee of LeTV revealed to reporters that Sun Hongbin, Chairman of Sunac China Board of Directors, is likely to take over as Chairman of LeTV.
In the past, LeTV has been in an unprecedented capital chain dilemma. In June of this year, 5438+ 10, Sunac China acquired 86 1% equity at 60.4 1 100 million yuan, 33.5% equity of LeEco Zhixin after additional issuance at 7.95 billion yuan, and LeTV Pictures15 at 6.5438+0.5 billion yuan. Upon completion of the transaction, Sunac China will become the second largest shareholder of LeTV, a listed sector in the LeTV system, and an important shareholder of LeTV super tv and the film sector.
Sun Hongbin said that in order to promote LeTV to improve its governance structure and isolate the listed system from the unlisted system, "the listed system must be completely closed and the funds closed."
However, due to the comprehensive factors such as rising costs, tight capital and brand damage, on July 4th, LeTV announced that it expected a loss of 637 million to 642 million yuan in the first half of 20 17. In the same period last year, LeTV's performance was 280 million yuan.
Xerox building
Letv.com said that due to the tight liquidity of the LeTV system and the influence of the company's brand, customer stickiness fluctuated, and the company's advertising revenue, terminal revenue and membership income all dropped significantly. In addition, in the first half of the year, LeTV made a large-scale asset impairment loss of about 230 million yuan, mainly due to the copyright impairment of intangible assets of 65.438+0.3 billion yuan.
On the night of 14, letv also corrected the 20 16 annual report. According to the corrected annual report, the top five customers of LeTV in 20 16 were all related parties of LeTV. The related transactions between LeTV and these five companies contributed at least 44.56% of the sales revenue of the listed company LeTV, totaling 9.797 billion yuan.
Letv said that Lepa Marketing Service (Beijing) Co., Ltd. and Letv Intelligent Terminal Technology Co., Ltd., as related transactions, undertook the strategic demands of Letv Group for o2o platform due to the change of sales model, and these two companies contributed 5.87 billion yuan and 654.38+06 billion yuan to Letv's annual sales respectively, accounting for 26.72% and 7.29%. The other three affiliated companies, LeTV Mobile Intelligent Information Technology (Beijing) Co., Ltd., Beijing Oriental Che Yun Information Technology Co., Ltd. and Le Co., Ltd. contributed 654.38+500 million, 570 million and 244 million sales revenue to LeTV respectively. Oriental Che Yun Company is a Yi Dao company, which was once controlled by LeTV Holdings, but its control rights have changed.
On the one hand, it is a large number of related transactions, on the other hand, it is a large number of accounts receivable.
Among the top five accounts receivable customers, the accounts receivable of LeTV Intelligent Terminal Technology Co., Ltd., LeTV Mobile Intelligent Information Technology (Beijing) Co., Ltd., LeTV E-Commerce (Beijing) Co., Ltd., Lepa Marketing Service (Beijing) Co., Ltd. and LeTV Holdings (Beijing) Co., Ltd. reached 2.9 billion yuan. To this end, LeTV has accrued * * * bad debt reserve of 88.4439 million yuan in the 20 16 annual report.
Some insiders believe that "as long as the cutting of LeTV's listed system and unlisted system is completed as soon as possible, with the follow-up support of Sun Hongbin, LeTV will return to the normal business track and it is not difficult to turn losses into profits."
At present, the core of LeTV, assets-LeTV.com, LeTV Zhixin and LeTV Pictures, have all been owned by Sun Hongbin's "New LeTV".
With the establishment of new LeTV executives today, it is expected to stabilize listed companies as soon as possible.
After Liang Jun was promoted to CEO of LeTV, LeTV Zhixin has recovered the sales right of color TV business and reorganized the channel resources. Recently, 45 offline LeEco- experience stores have been opened nationwide.
An employee of LeTV told the reporter that only by reorganizing the supply chain, restoring the brand, enhancing the confidence of dealers and solving the after-sales service problem can we lay a good foundation for revitalizing LeTV.
Work hard together, and Letv will tide over the difficulties together!