Letv crisis affects 24 new third board companies: Yang Mi shares in debt companies 48.8 million

incomplete statistics show that according to the latest financial report that has been released, Leeco still appears on the list of accounts receivable of 24 new third board companies, involving accounts receivable of 414 million yuan.

Letv's financial chain crisis affects not only financial institutions, but also at least 24 new third-board companies.

the reporter's recent incomplete statistics show that according to the latest financial report that has been released, Leeco still appears on the list of accounts receivable of 24 new third board companies, involving accounts receivable of 414 million yuan.

among them, the one with the largest amount of money involved is Jiaxang Media, which is owned by film and television star Yang Mi. The company, which produced and released "three generations and Ten Mile Peach Blossom," disclosed in its 2016 annual report that the company's largest account receivable convenience is Xizang Leeco Information Technology Co., Ltd., involving 76.8 million yuan. However, as of the date of disclosure of the annual report, Xizang Letv has returned 28 million yuan.

in second place, he Lichenguang, a company that has made huge profits from the "tiny Times" series, made a full provision for bad debts on Leeco's accounts receivable in its 2016 annual report, involving 53.385 million yuan.

the one with the smallest amount of money involved is collective media interaction. Leeco topped the list of accounts receivable with 409000 yuan in the company's 2017 semi-annual report, 60, 000 yuan less than the 2016 annual report.

but the one most affected is Huite Media, Letv's advertising service, with a net worth of only 33.064 million yuan as of the end of 2016, while Leeco owes Huite Media 35 million yuan for advertising. In order to recover the arrears, the company has taken Letv marketing to court.

it is worth mentioning that the three new third-board companies, including Jiaxing Media, Helichenguang and Yingsheng Animation, are all interested in promoting A-share IPO, and it is not known how much impact the arrears of Leeco will have on this process.

< strong > three companies IPO may be affected: Yang Mi's shareholding company is also affected < / strong >

of the 1.254 billion yuan of copyright payable by Leeco, in addition to Huatze Film and Television accounts for 30%, the other two new third board film and television companies Jiaxing Media and Lichenguang also account for a large proportion.

according to the 2016 annual report of Jiaxing Media, the production and distribution company of "three generations and Ten Mile Peach Blossom", Xizang Leeco Information Technology Co., Ltd. (hereinafter referred to as "Xizang Letv") ranked first among the company's top five accounts receivable with 76.8 million yuan in receivables. However, as of the date of disclosure of the annual report, Xizang Letv has returned 28 million yuan. In other words, as of the Jiaxing Media Annual report disclosure date, Xizang Letv still owes the company 48.8 million yuan.

Xizang Letv is the largest customer of Jiaxing Media in 2016, accounting for 27.18% of Jiaxing Media's annual sales with a sales value of 90.56 million yuan. Xizang Letv is a company under Leeco.

Public information shows that the predecessor of Jiaxing Media is Yang Mi Studio established by Yang Mi, his agent Zeng Jia and others. Enter the new third board market in August 2015. According to the purchase price of Perfect World in March this year, the valuation of Jiaxing Media had soared to 5 billion yuan.

Li Juan, former secretary of Jiaxing Media, said in an interview with the media that Jiaxing Media's key task in 2018 is to prepare IPO.

Today, the financial crisis of Leeco is becoming more and more serious, and it remains to be seen how much the performance of Jiaxing Media will be affected and whether it will affect its IPO process.

the fame and fortune earned by Guo Jingming and his director's "tiny Times" series of films have also been affected by Letv's current crisis.

in 2014 and 2015, the sales revenue of the five customers in 2014 and 2015 accounted for 92.32% and 92.38% of the total sales revenue, while the largest customers in these two years were Leeco enterprises.

among them, the biggest customer in 2014 was Letv Film (Tianjin) Co., Ltd., which contributed 116 million yuan in revenue as the distributor of tiny Times 3: the Golden Age, accounting for 74.7% of Helichenguang's total revenue in 2014.

in 2015, the first customers were Letv Film (Beijing) Co., Ltd. and Leeco, which earned a combined revenue of 163 million, accounting for 64.22% of the company's total revenue in 2015. According to the gem prospectus released by

and Lichenguang on July 1, 2016, as of December 31, 2015, the company's accounts receivable to Leeco and Letv Pictures were 45.14 million yuan and 30.39 million yuan respectively, accounting for 54.47 percent of the total accounts receivable.

"considering that the amount receivable from Letv has been overdue and the shortage of funds of Letv has not been fully alleviated, according to the principle of prudence, after careful evaluation, the company makes full provision for bad debts for the amount receivable by Letv at the end of 2016." According to the 2016 annual report of Helichenguang, the company still owes 53.385 million yuan to Xizang and Letv.

in addition, as of December 31, 2016, Leeco and Xizang Letv also owed Yongsheng animation 4.3534 million yuan and 12 million yuan respectively, totaling 16.3534 million yuan. Yongsheng animation has set aside 320000 yuan for bad debts.

Xizang Letv and Leeco are not only the largest customers of Yongsheng Animation in 2016, Letv Investment Management (Beijing) Co., Ltd. also holds 2.1 million shares of Yongsheng Animation, ranking the fifth largest shareholder with 5.34%.

Yong Sheng Animation is also actively preparing for IPO matters. On March 14, 2017, Yong Sheng Animation submitted the registration materials for IPO tutoring to the Guangdong Securities Regulatory Bureau and obtained the confirmation letter. At present, the company is receiving Guangfa Securities's guidance.

although the performance of Yongsheng animation in the past three years has met the requirements of changing boards, it is not known whether the relationship with Letv and the issue of accounts receivable will have an impact on its IPO.

< strong > Huite Media's arrears exceed its net assets < / strong >

Huite Media, which was cornered by Letv's arrears, has sued Letv Brand Marketing Planning (Beijing) Co., Ltd. (hereinafter referred to as "Letv Marketing") and Letv Holdings in court. The case was accepted by Nanjing Xuanwu District people's Court on July 5. According to the

announcement, Huite Media and the above two Leeco companies signed advertising contracts for the whole of 2016, totaling 70 million yuan, but there was still 35 million yuan outstanding before the lawsuit.

the 35 million yuan debt almost cornered Huite Media, because the company had only 33.064 million yuan in net assets belonging to shareholders of the listed company by the end of 2016. Huite Media, as an advertising agency, has completed the release of advertisements worth 35 million yuan. If Letv cannot repay the debt, Huite Media's own net worth is not enough to repay the money.

as of December 31, 2016, Huite Media had 7440 yuan in accounts receivable, of which Letv had 50 million yuan in advertising outstanding, and after paying in January 2017, there was still 35 million yuan outstanding.

"if the large amount of accounts receivable cannot be collected, it will affect the company's short-term cash flow and its operating ability."

at the same time, Letv Marketing is the largest customer of Huite Media in 2016, accounting for 45.95% of sales. As the host brokerage of Huite Media, Guoxin Securities also specially reminded investors to pay attention to the risk, "the litigation will lead to a certain degree of uncertainty about the company's sustainable business ability."

< strong > 24 new third board companies have been affected: some companies have asked for more than 60,000 yuan in half a year < / strong >

according to the reporter's incomplete statistics, The largest number of new third board listed companies are affected by Letv's trouble. in addition to the above four new third board listed companies, there are 20 new third board listed companies that disclosed accounts receivable with Leeco companies in their financial statements.

among them, according to the 2016 annual report of Pinnacle Pictures, Xizang and Letv owed the company 21.9 million yuan, ranking fourth in the top five accounts receivable of the company. According to the annual report, the company has set aside 219000 yuan for bad debts.

according to the 2016 annual report of several Yuan Film and Television, the amount of the "exclusive license contract for the right to spread the Information Network of my Man God" signed between the company and Xizang Letv on September 18, 2015 is 67.5 million yuan, of which the accounts receivable is 47.25 million yuan.

the announcement shows that several Movie and Television has used the contract as a counter-guarantee measure for subsidiaries to borrow 60 million yuan from the Bank of Beijing. Fortunately, because the show also received 19.1 million yuan of advance purchase money from Xizang and Letv.

Qingyu Media also has 35.5 million advance receipts from Xizang, Letv and Leeco. Leeco ranked second in the company's top five accounts receivable list, with an amount of 21.42 million yuan, accounting for 8.95 percent of the total accounts receivable, according to Qingyu Media's 2016 annual report.

in addition, Yining Qingcheng Media Co., Ltd., wholly owned by Qingyu Media, signed a package of agreements on hunting grounds, advertisements and old dramas with Xizang Letv, Leeco Tianjin and Leeco on June 8, 2017. the total amount of the agreement is about 177 million yuan.

"it has been announced that there are no arrears and there are no litigation disputes." On July 27, Qingyu Media Securities Department replied.

the reporter inquired about the 2016 annual report and found that 15 new third board companies, including the new studio, Huaying Planet, Nanguang Film and Television, good-looking Media, Sports and Entertainment shares, Century Youyou, Cloud Media, Phuket, Shenzhou Cloud Motion, Holy Sword Network, Heavenly warship shares, extraordinary shares, Horizon, Yue Technology, and Huibo Yuntong, all involve millions or even tens of millions of yuan of accounts receivable from Leeco companies.

among them, the smallest sum is only 409000 yuan. Leeco topped the list of accounts receivable with 409000 yuan in the 2017 semi-annual report of media interaction, compared with 470000 yuan in the 2016 annual report. In other words, within half a year, the media interaction will only cost more than 60,000 yuan.

Yaoke Media's 2016 semi-annual report shows that the company has 46 million yuan in accounts receivable to Leeco. However, it is impossible to know whether the account will be recovered, because Yaoke Media not only did not disclose the annual report, but also delisted from the new third board market on April 12, 2017, citing "business development needs".

Edit: mary