Le.com: Controller Jia Yueting and spouse Gan Wei promise to resolve competition in the industry

In order to solve the problem of horizontal competition between Le Yang and listed companies, Gan Wei is willing to propose a reasonable solution within the next month on the premise of giving priority to protecting the interests of shareholders of listed companies.

Original title LeTV: Jia Yueting's wife promises to resolve Le Yang's competition in the industry.

On the evening of March 1, LeTV issued an announcement on receiving explanations and commitments on the competition in the industry from its controlling shareholder and spouse. The announcement stated that Le Yueting's actual controller and controlling shareholder Jia Yueting's spouse Gan Wei sent the "Explanation and Promise of Competition in the Industry", expressing that she was fully aware that Le Yang and the listed company constituted a competition in the industry and apologized for the many impacts it had on the listed company. In order to solve the problem of horizontal competition between Le Yang and listed companies, Gan Wei is willing to propose a reasonable solution within the next month on the premise of giving priority to protecting the interests of shareholders of listed companies.

Gan Wei's "Explanation and Commitment on Horizontal Competition" disclosed in the announcement is as follows:

(1) I have fully realized that Le Yang and listed companies constitute horizontal competition, and I deeply apologize for the many impacts it has on the listed company.

(2) In December 2016, I obtained control of Le Yang through equity transfer. I am optimistic about its excellent online drama self-production team and hope to provide LeTV with more high-quality online drama content resources through professional market-oriented operation methods., there is no harm to the interests of listed companies and their majority of minority shareholders.

(3) In order to solve the problem of horizontal competition between Le Yang and listed companies, I am willing to propose reasonable solutions within the next month on the premise of giving priority to protecting the interests of shareholders of the listed company, and will actively cooperate with the listed company in its due diligence and perform relevant internal decision-making procedures. If the listed company incurs any costs, assumes any liabilities or suffers any losses due to the violation of the above commitments, I will compensate the listed company for any costs, liabilities or losses incurred. "

The announcement also disclosed that the company received the" Explanation and Commitment on Horizontal Competition "from Jia Yueting, the actual controller and controlling shareholder, and stated that it will urge Gan Wei to propose reasonable solutions within the next month on the premise of giving priority to protecting the interests of shareholders of the listed company. Plan and will actively cooperate with the due diligence and relevant internal decision-making procedures of the listed company.

It is understood that Beijing Leyang Film and Television Media Co., Ltd., formerly known as Lexiangxing Tiandi Film and Television Media Co., Ltd., was established in June 2015 and changed its name to Leyang in September 2015. Its shareholders and structure are Mr. Ren Yong holds 56% of the shares. Ms. Gan Wei shares 16%, Beijing Weixing Film and Television Culture Co., Ltd.(hereinafter referred to as "Weixing Film and Television", an employee incentive platform. Ms. Gan Wei holds 50% of Weixing Film and Television) holds a 28% stake. Its main business is the production and distribution of online TV dramas with a registered capital of 10 million yuan. After its establishment, the main business achievement is the production of the popular online drama "The Promotion of the Crown Princess", which was purchased exclusively by Le.com and broadcast exclusively on the entire Le.com network at the end of 2015, achieving good word-of-mouth effect and excellent film and television viewing effects. It has obtained many members and realized traffic for the company, and has become LeTV's partner in content layout.

Based on her long-term optimism about the company, Gan Wei transferred the shares of the original controlling shareholder in December 2016. After the transfer, Ms. Gan Wei directly held 72% of Leyang's shares, and Weixing Film and Television held 28% of Leyang's shares. Ms. Gan Wei held a total of 86% of Leyang's shares, becoming the actual controller of Leyang.

In February 2017, Ms. Gan Wei further increased capital in Leyne. After the capital increase was completed, Ms. Gan Wei directly held 83.53% of Leyne's shares, Weixing Film and Television held 16.47% of Leyne's shares, and Ms. Gan Wei held a total of Leyne's shares. 91.77% of Leyne's shares, of which all shares held by Ms. Gan Wei include Leyne's shares that are used for employee incentives but have not yet been distributed.

Editor: Nancy