LeTV disclosed that there are more future moves or pending developments in the acquisition of LeTV Pictures

on December 13th, Leeco issued an announcement on the progress of reorganization, expressing its position on "actively promoting" the reorganization of Letv Film Industry and conveying potential restructuring expectations to the market.

original title: disclosing the progress of the acquisition of Letv Pictures Letv entertained

the restructuring plan that had been delayed for a long time, but it is expected to accidentally become a "lifesaver" to save Letv.

on December 13th, Leeco issued an announcement on the progress of reorganization, expressing its position on "actively promoting" the reorganization of Letv Film Industry and conveying potential restructuring expectations to the market. Leeco said that the company is actively promoting the restructuring, the parties are discussing valuation pricing, and will renegotiate the transaction price on the basis of the new evaluation and convene a separate board of directors to review it.

Letv's acquisition of Letv Film was up in the air, and it had to make other plans because it could not hold a shareholders' meeting in time. According to the previous plan, Leeco plans to buy a 100% stake in Letv Pictures by issuing shares and paying cash, which is worth 9.8 billion yuan as a whole.

at that time, the market was shocked by the high valuation value-added rate and far exceeding previous performance commitments. According to the promise of the other party, Letv Pictures' audited net profit from 2016 to 2018 will be no less than 520 million yuan, 730 million yuan and 1.04 billion yuan, respectively. In 2015, Letv Pictures made a corresponding net profit of only 136 million yuan.

subsequently, this question was asked by the exchange, and the listed companies responded accordingly for reasons such as "business development" and "core competitiveness". But this problem eventually became a "stumbling block" to the acquisition of Letv Pictures. On November 9, Leeco announced that due to the great changes in the market environment of the film and television industry, there is a possibility that the acquisition plan may have a greater impact on the basis of performance commitments and valuations. according to the current progress, the restructuring is not expected to be completed in 2016.

this means that the plan to acquire Letv Pictures is tantamount to "starting all over again", and the plan, price and other elements should be adjusted and submitted to the board of directors for consideration again. Although the operation is not easy, but LeTV still "never give up" to Letv Film Industry, its announcement repeatedly reiterated "actively promote", "speed up restructuring."

in the view of analysts, the current development of the domestic film market is not as expected, and even if the acquisition of Letv Film is completed, both the valuation and the expected performance will inevitably be reduced, and it is difficult to estimate whether it can revive the share price of Leeco.

however, Leeco seems to have more than one card. Combined with the suspension announcement on December 8, the major issues "expected to involve the integration of industrial resources" should not disclose the progress of Letv Film's acquisition. Taking into account the complexity of Letv's overall industry, it is also possible to buy other assets.

it is worth mentioning that Letv seems to intend to release more good news to the market. Jia Yueting, the man at the helm of Letv, revealed in a public speech last weekend that the major progress of Letv Super Automobile Industrial Park will be officially released at the end of December, and the first volume production car of strategic partner FF will be officially released on CES on January 3 next year.

judging from the current situation, Leeco and Letv really need to come up with more and better solutions. Since Leeco was suspended on Dec. 7, the gem index has fallen 137.22 points, or 6.47%. If the market remains low and Leeco fails to come up with greater benefits, it will inevitably encounter a "make-up decline" when it resumes trading.

Jia Yueting mentioned this matter in an interview with the media a few days ago, and said that the fall in the stock price will have an impact on the pledge, but there is still a very big gap from the warning line.

Edit: nancy