LeTV plans to attract more than 10 billion yuan to invest in "gold owners" or Internet giants

on the evening of December 28th, Leeco announced that Letv, together with Jia Yueting and Letv Holdings (Beijing) Co., Ltd., has signed a "Strategic Cooperation Framework Agreement" with strategic investors, involving transactions expected to exceed 10 billion yuan. This is after the temporary suspension of trading on December 7, Leeco once again explained the specific reasons for the suspension, at the same time, who the mysterious financier is, quickly triggered a heated debate in the market.

Letv finally looked forward to the "life-saving money": a strategic investment of 10 billion yuan. Leeco, together with Jia Yueting and Letv Holdings (Beijing) Co., Ltd., has signed a "Strategic Cooperation Framework Agreement" with strategic investors, involving transactions estimated to exceed 10 billion yuan, Leeco announced on the evening of December 28th. This is after the temporary suspension of trading on December 7, Leeco once again explained the specific reasons for the suspension, at the same time, who the mysterious financier is, quickly triggered a heated debate in the market.

strong > or introduce IT giant / strong >

some industry insiders speculate that the strategic investors introduced by Letv this time may be mainly concentrated in consortia in Hong Kong, China, the Internet industry IT giant, insurance capital, and government industrial funds, but the news has not received any response from Letv. As Leeco was still suspended yesterday, stimulated by the news, Coolpad Group, which is controlled by Letv, rose 14.08 per cent yesterday.

Leeco stressed in its announcement that strategic investors have paid a certain amount of sincerity money. However, Letv kept a secret about who the financier was, saying only that "this major issue is expected to involve more than one strategic investor, involving a large scale of investment, involving many main bodies, and there are still many specific issues that need to be discussed and determined by all parties in terms of transaction structure." Unlike Jia Yueting's high profile of raising $600m from a "good Chinese classmate", Letv is secretive about the source of 10 billion yuan. According to reports, a person familiar with the matter said that the war investor of Leeco may be related to the risk. Letv said he would not comment on this.

since November, the whole "Letv ecology", including Leeco, has attracted much attention from all walks of life. Reports such as "Jia Yueting's pledge of stock risk", "Letv's tight capital chain" and "employees queuing to leave" have been reported in the media. Affected by this, Leeco's share price also fell by about 20% in more than a month. Letv shares closed at 35.80 yuan on Dec. 6, the lowest this year, and announced the suspension of trading that night. According to Leeco's half-yearly financial report, its revenue in the first half of the year was 10.063 billion yuan, and the introduction of 10 billion yuan is indeed crucial.

on December 12, Leeco continued to issue a major asset restructuring announcement, saying that it was reconsidering the valuation of Letv Pictures and negotiating the transaction price to push forward the restructuring. However, the specific content of the reorganization, Letv still did not disclose. On the evening of December 14, Leeco announced again that it was planning to introduce strategic investors through non-public offerings and other forms of capital.

it is understood that this round of non-public offerings has introduced strategic investors, pointing to Letv Zhixin, which is the main TV business under Letv. Leeco holds a 58.55% stake in Letv Zhixin. According to media reports, at Letv's Dabing ecological press conference on December 20, Letv revealed the financing information of Leeco to the new president Liang Jun, saying that "some investors have come in and the money has arrived."

since the beginning of this year, listed companies with risky assets have been raised frequently. Once the funds are invested in Letv, attention will be paid to Jia Yueting's control over the company and how Letv will allocate funds.

it is worth noting that Letv is also enthusiastic about stepping into the insurance industry. In January this year, Oufeiguang announced that the company plans to establish Xinwo property Insurance Co., Ltd., with a registered capital of 1 billion yuan, together with eight companies, including Xinwo Capital Holdings Group Co., Ltd., Leeco and Kelu Electronics, as sponsors. Among them, Leeco and Xinwo Capital holding Group Co., Ltd. both plan to contribute 170 million yuan in cash, ranking as the largest shareholder of the property insurance company, with a shareholding ratio of 17%, while the other six initiating companies all contribute 110 million yuan in cash, accounting for 11% of the equity in the newly established property insurance.

according to Leeco's announcement, the suspension period is in principle no more than 10 trading days. In other words, in January next year, Letv financiers will unveil the mystery.

strong > recent actions have been continuous / strong >

, and Letv's recent actions have also been constant. On December 28th, Letv Ecological Automobile Industrial Park officially started in Mogan Mountain High-tech Industrial Development Zone in Huzhou, Zhejiang Province, after Letv Automobile, which was constantly short of money, finally made substantial progress. It is reported that Letv Ecological Automobile Industrial Park will be divided into automobile intelligent production park, industrial supporting park and experience park, with a planned area of about 4300 mu. At present, the pre-land delisting has been completed. The first phase of the industrial park project plans to invest about 11 billion yuan and will cover an area of more than 2000 mu. After the completion of the first phase and the second phase of the project, it is expected to achieve a total production capacity of 400000 vehicles and produce LeSEE brand electric vehicles.

strong > Yien collates and publishes / strong > according to the relevant reports of Guangzhou Daily and Beijing Morning Post.

Edit: yvette