LeEco's performance statement will turn into complaints at the conference, investors 'questions are sharp and direct to cash flow

Today, troubled Leeco held its 2016 annual performance presentation. In the online communication, Leeco answered many investors' questions. And in the question, the most concerned is undoubtedly Letv and easy access to the cash flow issue. However, Letv did not give a detailed answer on the grounds that the question was not within the scope of the exchange meeting.

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recently, troubled Leeco held its 2016 annual performance presentation. In the online communication, Leeco answered many investors' questions. And in the question, the most concerned is undoubtedly Letv and easy access to the cash flow issue. However, Letv did not give a detailed answer on the grounds that the question was not within the scope of the exchange meeting.

it is worth mentioning that there was also a questioner who claimed to be an easy-to-reach driver at the scene. He said that after working for three years, the money could not be raised for two months, but this was all his hard-earned money, so he wanted to ask what was the problem with Yi Yi. However, Letv did not give a targeted answer to this.

focus

when can the withdrawal problem of the driver be solved

from the point of view of the exchange meeting, the problem of easy access has attracted a lot of attention. Let's take a look at these questions:

could you tell me whether Mr. Jia can disclose the financing progress of Letv Automobile and easy access car?

how will the company raise funds to solve the problem of easy driver withdrawal? Will it only solve the problem of cash withdrawal by drivers in Beijing? In addition, there are rumors that Letv is looking for a stake in Yi Dao. Is that true?

for these questions, Dong Secretary Zhao Kai did not give a direct answer on the grounds that the questions did not fall within the scope of the exchange meeting. But at the same time, it said that the financing of Yi Dao and cars has been progressing smoothly.

there are also questions related to the driver who claims to be easy to reach at the scene. The questions are as follows:

I am an easy-to-reach driver. I have been working for three years, and the money has not been raised for two months. It is all hard-earned money. Is there any problem with easy access? It is rumored that there will be financing. When will the result be available?

but in this regard, the answer is about the same. Letv said that the relevant problems of non-listed companies are not in the scope of this performance exchange meeting, and please pay attention to the official voice of easy access at any time.

and investors asked Jia Yueting:

what do you think of the recent dispute between Zhou Hang and Yi to Letv? Will you give up easy access control?

in response, Letv said that the previous disputes have gradually subsided, and in the near future, Yi will focus on solving the phased problems that have occurred in the operation, and the overall operation of the company is gradually improving. On issues that are easy to reach, please pay attention to the official voice of easy access at any time.

focus

what on earth is Letv's cash flow?

out of concern about Letv's tight cash flow, many investors are very concerned about Letv's financing and cash flow problems. In fact, many of the easy-to-reach problems, in the final analysis, are also worried about Letv's cash flow.

interestingly, Letv said that listed companies are now more well-funded.

some investors asked bluntly:

Boss Jia, as a senior music fan, can you explain why Letv has raised so much money from the outside and is still so short of money?

Letv replied: Letv's unlisted system mainly carries the cultivation and incubation of Letv's innovative business in the ecology. Most of the business needs continuous investment in the early stage in order to grow better. So the funds raised are used in the development of the business.

some investors also asked: has the problem of Letv's overall capital chain been alleviated?

Letv replied: with the introduction of strategic investors and other investors, listed companies have more abundant funds, and the shortage of funds of non-listed companies has been rapidly resolved.

and investors ask:

I would like to ask Mr. Jia Yueting, can you give a clear answer? what is the real situation of Letv's current capital chain?

Letv replied: the company is in a period of rapid development, and the company's demand for funds is similar to that of companies in the same period of development, and the need for a large amount of working capital is caused by normal business development needs. Through the introduction of strategic investors and other investors, and the use of a variety of compliance financing methods, the listed companies have more abundant funds and reserve capital resources, and the shortage of funds of some companies in the non-listed system is also being solved quickly.

focus

I am in urgent need of money. Letv, when will you resume trading

some investors have expressed dissatisfaction with Letv's continuous suspension.

an investor asked:

when the company promised to release the 2016 annual report, it released the revised merger and acquisition plan of Letv Pictures, which was postponed again. We all have problems with the use of funds, so it is troublesome for the management to pay attention to it and resume trading as soon as possible.

in this regard, Letv said that the company's annual report was disclosed on April 20, 2017, but the relevant work on this major asset restructuring has not yet been completed, and the relevant audit and evaluation work is in the process of progressing. The estimated value of the underlying assets is expected to be lowered, but the specific amount has not yet been finalized. The adjusted restructuring plan still needs to be further communicated and confirmed with the other party. After the relevant matters are determined, the company will convene a board of directors to review the reorganization, disclose the major asset reorganization plan or report, and resume trading after being examined and approved by the Shenzhen Stock Exchange in accordance with the major asset reorganization process.

pay attention to 4

Why do you always fall? there are so many negative news

and investors say:

I am an investor who has always supported Lecture, but the stock price has always been plummeting, the event has never stopped, and now there is more and more news about Black Music. Is there any change on these issues on the company side now?

Letv's answer is very official. Their answer is as follows: first of all, thank the majority of music fans for their support, because your support can make the company develop better, and the sustainable development of the company in the future needs more support from the majority of music fans. Secondly, we deeply understand the mood of investors who have lost due to changes in stock prices in the secondary market. Stock prices are affected by a variety of factors, and short-term fluctuations are more market-oriented changes. The most important thing we should do is to work harder to develop the company and always strive to improve performance and return to investors. In addition, for deliberately spreading rumors and causing trouble, discrediting listed companies and affecting the capital market, the company insists on taking legal measures to safeguard the legitimate rights and interests of the company and investors.

follow point five

what on earth is the magical 6666 report?

Letv's magical 666666 annual report has also attracted investors' attention and questions. In Letv's 2016 annual report, the audit report was 666666, which surprised the whole market. The company then issued a correction notice, correcting 11 places in the annual report and 666666 here. Some investors raised this issue at this exchange meeting.

Why did "666666" appear in the first 2016 annual report?

Letv's secretary Zhao Kai replied: the emergence of such a problem is really a mistake in our work, and the writing and proofreading of the annual report are not rigorous enough. After finding the relevant problems, the company has immediately punished the relevant responsible persons, including myself, and we will learn lessons and actively correct them.

concern six

how to explain the high accounts receivable?

in online communication, many investors have questioned Leeco's high accounts receivable.

one of the questioners asked:

what are the reasons for changing the company's sales model? Now the sharp increase in accounts receivable in the report makes us have great doubts about the credibility of the report.

Letv replied: with the further development and improvement of Letv's ecological system, Letv's ecological products have become more rich and diversified. At the same time, with the establishment of Letv's brand effect, the operation scale of Letv Mall and Lepa is increasing day by day. In addition to super TV and Letv box, it also carries many related party products, such as Letv super mobile phone, cool mobile phone, Letv sports peripheral products and so on. Letv Mall and Lepa Company have become the network marketing platform carrying the entire Letv ecological products. Based on the consideration of its future development strategy, it is decided that a special team will serve in the ecosystem, so as to better serve the whole Letv ecology. The related party transactions follow the principles of objective fairness, equality, voluntariness and mutual benefit. The price of the related transaction refers to the price of the transaction with the third party, and is determined by both parties through consultation according to the market price, and the price of the related transaction shall be adjusted in time according to market changes. And give the related party a certain account period, after the related party item period at the end of the period, the related parties have settled within the agreed time limit, thank you for your attention.

generally speaking, for those who question Letv's high accounts receivable, Letv basically said that there is nothing wrong with recovery.

follow point 7

Jia Yueting, have you reached the level line yet?

some investors are very concerned about whether Letv's stock price has been falling, which will affect Jia Yueting's closing line.

investors directly ask Jia Yueting:

what is your equity mortgage closing line?

Letv replied: general Jia's current equity pledge is basically in a safe position, especially when Fuchuang China enters, it is clearly required that Mr. Jia will continue to reduce the pledge rate and increase the margin of safety.

Edit: queenie