On June 65438+1October 10, at the entrance of Xingang industrial park of Nanjing Panda Electronics Co., Ltd., someone pulled a banner asking CLP Panda Household Appliances to "repay my debts and repay my hard-earned money shamefully".
In this regard, LeTV told the Red Star Capital Bureau that CLP Panda is one of the OEM enterprises of LeTV TV cooperation from 20 19 to 2022. However, due to the frequent quality problems of its OEM LeTV TV, the company repeatedly urged it to make after-sales and compensation for the defective products, but CLP Panda did not respond and failed to perform its duties. LeTV employees had to defend their rights at the door of CLP Panda and recover nearly 20 million yuan.
LeTV said that according to the cooperation contract, the failure rate of TV products produced by CLP Panda exceeded the industry standard, and after-sales expenses such as product maintenance and compensation for breach of contract should be borne by CLP Panda. LeTV said that at present, these expenses are paid by LeTV, and CLP Panda has not fulfilled its responsibility and does not compensate.
On June 4th, 65438+ 10/kloc-0, Red Star Capital Bureau tried to contact the office of the secretary of the board of directors of CLP Panda official website and its affiliated listed company Nanjing Panda (600775. SH), but as of press time, no one answered.
Letv said that it has initiated a lawsuit through legal channels and is currently awaiting trial.
Letv has published an open letter: the defective rate of two TV LCD screens is nearly 20%
Letv's debt collection for CLP Panda began in 2022.
On August 10, 2022, LeTV sent an open letter to Nanjing Zhongdian Panda Household Appliances Co., Ltd., saying that cooperation would begin in early October19. As of March 2022, the cooperation was terminated, and CLP Panda completed the production and delivery of 390,000 LeTV TVs, with a cumulative cooperation amount of 430 million yuan. Letv pays the deposit in advance and picks up the goods in full. However, since July 2020, the Y43, F43 and F55 models produced by CLP Panda frequently have horizontal lines, vertical lines and leakage problems. The defect rate of Y43 and F43 TV LCD screens is nearly 20% (the industry defect rate is usually less than 2%), which exceeds the standard of 1.8% in the quality agreement between the two parties. According to the contract, it has constituted a quality accident.
Letv revealed to Red Star Capital Bureau that as of June 5438+ 10, 2022, there were 16207 faulty TVs produced by CLP Panda, and the defective rate of LCD screens of the first two TVs was close to 20%, which seriously exceeded the 1.8% stipulated in the quality contract agreement between the two parties.
According to a supplementary explanation of LeTV about Panda LCD screen, 29% of its Y43, F43 and F55 products are from Panda Factory, and the three products are also manufactured by several foundries, among which only the TV made by CLP Panda has quality accidents.
The open letter also pointed out that in August 2020, the screen analysis report provided by CLP Panda and the market tracking results of both parties confirmed that the reason for the above-mentioned quality accident was that the quality of the LCD screen of the main material was not up to standard, and the LCD screen was fully purchased by CLP Panda. According to the contract, CLP Panda shall provide the screen replacement materials free of charge, and bear all after-sales expenses and compensate for the losses. Letv said that the total amount of after-sales maintenance and breach of contract compensation involved in the faulty TV produced by CLP Panda was nearly 20 million yuan.
According to the open letter, LeTV paid the relevant after-sales expenses in advance because CLP Panda did not undertake the after-sales obligations and responsibilities in time. By the time the open letter was published, the number of screen changes had reached 1 1590 and 2 160. It is estimated that 6300 screens will be replaced in the future.
According to the open letter, since then, CLP Panda has unilaterally proposed that it will no longer provide screen changing materials for the 55_ accident TV and will no longer bear any after-sales responsibility. The news that CLP Panda Dongguan Branch, which was responsible for 97% of the cooperation orders between the two parties, withdrew its lease and closed on October 30, 2022, was not notified to LeTV in advance, but only notified by email on October 25, 2022. As for the reasons for the closure, the reasons were not explained to LeTV.
The Red Star Capital Bureau noted that up to now, CLP Panda has not made a public response to LeTV's open letter.
Andy, CEO of LeTV: In 2022, the company's operating cash flow is balanced, unless the cash flow of individual companies is positive.
CLP Panda is a comprehensive enterprise that mainly develops, produces and sells color TV products. It has the qualification to develop, produce and sell household appliances such as white goods and small household appliances, and provides related technical consultation and product sales services.
According to the survey data, CLP Panda was established in May 2007 by Panda Electronics Group Co., Ltd., Nanjing CLP Panda Information Industry Group Co., Ltd. and Nanjing No.2 Thermal Power Co., Ltd. * *, among which Panda Electronics Group holds 6 1.46%.
Letv revealed to the Red Star Capital Bureau that the failure of CLP Panda directly affected the performance of Letv.
Andy, CEO of LeTV, wrote in a circle of friends on June 5438+1 October12023 that in 2022, the company's business will still achieve cash flow balance. "If it weren't for individual companies, we would be positive."
According to the third quarterly report of LeTV in 2022, LeTV's revenue in the first three quarters was 267 million yuan, down 65,438+00.04% year-on-year; The net loss of returning to the mother was 353 million yuan, up by 1 18.35% year-on-year.