Introduction: In the past year, LeTV's news has been continuously suspended for six months. The public is most concerned about when to resume trading. Recently, a Civil Ruling of the Huairou District Court in Beijing (attached hereafter) exposed the dispute between LeTV and the state-owned shareholder Siwei Partners. The reason is that Siwei Partners wanted to consult LeTV. Account books, accounting vouchers, company statutes, and minutes of shareholders’ meetings were rejected. LeTV was deemed to have infringed upon its right to know and sued LeTV.
In response, LeTV Films responded that in May 2017, it had requested information from the Siwei Partnership in a timely manner to provide them with necessary information such as financial statements, accounting books and corporate governance documents.
The company intends to change the abbreviation of the stock to “New LeTVâ€. LeTV.com has suspended the suspension due to the purchase of LeTV. The blue whale TMT consulted LeTV’s related parties for specific reasons. There are also investors who have asked LeTV at the Shenzhen Stock Exchange on this matter, but have not yet received a response.
(Investors inquire about the reasons for the suspension of LeTV. Source: SZ Interactive.
Shareholders alleged that LeTV has long concealed important business issues and violated regulations
According to the first trial civil ruling issued by the Huairou District Court, LeTV was pointed out by Siwei Partners that it had long concealed important business matters and had operated without the resolution of the shareholders’ meeting. This would place shareholders’ interests at great commercial risk and seriously infringe upon the interests of all shareholders.
LeTV Films filed an objection to the jurisdiction of the lawsuit and held that the main office of LeTV Films is located in Chaoyang District, Beijing. According to the principle of determining the jurisdiction of the company's domicile, the case should be under the jurisdiction of the People's Court of Chaoyang District, Beijing. Transferred to the court of Chaoyang District, Beijing.
After review, the Huairou District Court held that the case was a shareholder's right to information lawsuit and should be under the jurisdiction of the people’s court of LeTV’s domicile, so it was ruled that the case would be transferred to the jurisdiction of the Chaoyang District Court in Beijing.
According to statistics, LeTV Film was founded on December 28, 2011 with a registered capital of 837 million yuan and legal representative Zhang Zhao. SV Partners passed a subscription of RMB 200 million on June 11, 2015 to become a shareholder of LeTV Films, owning 2.6747% of the shares. At present, LeTV's largest shareholder is LeTV Holdings, holding 21.81% equity; Jia Yueting is the actual controller of LeTV Holdings; the second largest shareholder is Jiarui Huixin, holding 21.00% equity, and Sunac Group is Jiaruihui. Xin's actual controller.
LeTV's largest shareholder and second largest shareholder pledged their shares.
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(Sources of LeTV's shareholder equity pledges: National Enterprise Credit Information Publicity System)
The natural person shareholder of Le Vision Film Industry can also be described as “the stars are gatheredâ€, including Sun Honglei, Huang Xiaoming, Li Xiaojun, Guo Jingming, and Zhang Yimou.
Siwei Partners is an investment partnership company. Its partners include CITIC Guoan (Beijing) Fund Management Co., Ltd., China Merchants Wealth Asset Management Co., Ltd., and Shi Yuguang Controlled Assets Management Co., Ltd. CITIC Guoan (Beijing) Fund Management Co., Ltd. is behind CITIC Guoan Group. China Merchants Wealth Asset Management Co., Ltd. is behind China Merchants Securities and China Merchants Bank. The company is behind Zhongyou Venture Capital Management Co., Ltd.
LeTV Films responded to the sued
On October 12th, LeTV Films made an explanation on the matter of Si Wei’s partnership prosecution, saying that in May 2017, it had provided necessary information such as financial statements, accounting books and corporate governance documents to Siwei’s partnership in a timely manner.
![]()
(LeTV's announcement)
On October 8th, LeTV's official Weibo issued a disclaimer, saying that its “The Passing Youth†was issued due to market failures and decided to make an emergency withdrawal. After the preparation, choose the opportunity to re-image. The film was released nationwide on October 5.
When will "New LeTV" resume trading?
For LeTV's investors, the biggest concern is when the stock will resume trading. At the Shenzhen Stock Exchange, the most frequently asked questions by investors were the issue of resumption of trading, but LeTV will respond to announcements of the designated faith website.
LeTV.com announced on September 27 that the company intends to be renamed as LeTV Information Technology (Beijing) Co., Ltd., and the securities abbreviation is intended to be changed to New LeTV. "New LeTV" replaced "LeTV.com", and the new management team with Sun Hongbin as the chairman and Liang Jun as the general manager had "segmented" the LeTV network under the control of Jia Yueting in the past. The old image.
LeTV announced on the evening of October 9 that upon application, the stock will continue to be suspended from the opening of the market on October 17, 2017. By then, LeTV will suspend the license for more than half a year (to suspend trading on April 17, 2017). The reason given by LeTV.net to continue to suspend trading is that major asset reorganization involves major non-precedent cases. The development of related work is currently subject to large uncertainties. Therefore, the company is not expected to disclose this major asset restructuring plan or report before October 16, 2017. Book and apply for resumption.
The major asset restructuring mentioned by LeTV is to purchase 100% equity interest in LeTV Films through the combination of issuing shares and paying cash. LeTV.com had announced on December 5, 2015 that the company had received a pledge from controlling shareholder Jia Yueting to fundamentally eliminate the related transactions between LeTV and related parties, LeTV, in order to further exploit the synergistic effect of LeTVE. The appropriate time in the next year, in a reasonable manner, in accordance with relevant regulations of the China Securities Regulatory Commission, transfer the controlling share of LeTV Films to LeTV.com, and suspend trading from December 7, 2015. The suspension will be held until June 3, 2016. Days to resume trading. Then went through several suspension cards.
According to the reorganization plan disclosed by LeTV on May 6, 2016, the company signed the "Agreement on Issuance of Shares and Payment of Cash Purchase Assets" with 44 LeTV industry shareholders including LeTV Holdings, Zhang Yimou, Guo Jingming and Huang Xiaoming. Pursuant to the agreement, the company intends to issue shares to the above-mentioned LeTV studio shareholders and pay cash to purchase 100% of LeTV's total equity held by it. The estimated value of LeTV's 100% equity is 9.845 billion yuan. After consultation between the parties to the transaction, the transaction price was initially determined at 9.8 billion yuan.
(LeTV Online Acquires 14 Opponents from Music Video Source: LeTV Announcement)
LeTV Films Injects "New Music Vision" Adds Uncertainty
LeTV's injection into LeTV is led by Jia Yueting, but Jia Yueting has resigned as chairman and general manager of LeTV. In the United States, he focuses on LeEco's automotive business. Successors Sun Hongbin and Liang Jun will not reverse their attitude toward LeTV. I do not know.
This time, LeTV.com's renewed resumption of trading due to major unconventional issues involved in the reorganization led to investors’ concerns about whether LeTV could successfully inject “New LeTVâ€. The exposure of LeTV's sueding incident, "The whizzing youth" at the box office, has further aggravated investors' inner worries.
In response, LeTV Films responded that in May 2017, it had requested information from the Siwei Partnership in a timely manner to provide them with necessary information such as financial statements, accounting books and corporate governance documents.
The company intends to change the abbreviation of the stock to “New LeTVâ€. LeTV.com has suspended the suspension due to the purchase of LeTV. The blue whale TMT consulted LeTV’s related parties for specific reasons. There are also investors who have asked LeTV at the Shenzhen Stock Exchange on this matter, but have not yet received a response.
(Investors inquire about the reasons for the suspension of LeTV. Source: SZ Interactive.
Shareholders alleged that LeTV has long concealed important business issues and violated regulations
According to the first trial civil ruling issued by the Huairou District Court, LeTV was pointed out by Siwei Partners that it had long concealed important business matters and had operated without the resolution of the shareholders’ meeting. This would place shareholders’ interests at great commercial risk and seriously infringe upon the interests of all shareholders.
LeTV Films filed an objection to the jurisdiction of the lawsuit and held that the main office of LeTV Films is located in Chaoyang District, Beijing. According to the principle of determining the jurisdiction of the company's domicile, the case should be under the jurisdiction of the People's Court of Chaoyang District, Beijing. Transferred to the court of Chaoyang District, Beijing.
After review, the Huairou District Court held that the case was a shareholder's right to information lawsuit and should be under the jurisdiction of the people’s court of LeTV’s domicile, so it was ruled that the case would be transferred to the jurisdiction of the Chaoyang District Court in Beijing.
According to statistics, LeTV Film was founded on December 28, 2011 with a registered capital of 837 million yuan and legal representative Zhang Zhao. SV Partners passed a subscription of RMB 200 million on June 11, 2015 to become a shareholder of LeTV Films, owning 2.6747% of the shares. At present, LeTV's largest shareholder is LeTV Holdings, holding 21.81% equity; Jia Yueting is the actual controller of LeTV Holdings; the second largest shareholder is Jiarui Huixin, holding 21.00% equity, and Sunac Group is Jiaruihui. Xin's actual controller.
LeTV's largest shareholder and second largest shareholder pledged their shares.
(Sources of LeTV's shareholder equity pledges: National Enterprise Credit Information Publicity System)
The natural person shareholder of Le Vision Film Industry can also be described as “the stars are gatheredâ€, including Sun Honglei, Huang Xiaoming, Li Xiaojun, Guo Jingming, and Zhang Yimou.
Siwei Partners is an investment partnership company. Its partners include CITIC Guoan (Beijing) Fund Management Co., Ltd., China Merchants Wealth Asset Management Co., Ltd., and Shi Yuguang Controlled Assets Management Co., Ltd. CITIC Guoan (Beijing) Fund Management Co., Ltd. is behind CITIC Guoan Group. China Merchants Wealth Asset Management Co., Ltd. is behind China Merchants Securities and China Merchants Bank. The company is behind Zhongyou Venture Capital Management Co., Ltd.
LeTV Films responded to the sued
On October 12th, LeTV Films made an explanation on the matter of Si Wei’s partnership prosecution, saying that in May 2017, it had provided necessary information such as financial statements, accounting books and corporate governance documents to Siwei’s partnership in a timely manner.
(LeTV's announcement)
On October 8th, LeTV's official Weibo issued a disclaimer, saying that its “The Passing Youth†was issued due to market failures and decided to make an emergency withdrawal. After the preparation, choose the opportunity to re-image. The film was released nationwide on October 5.
When will "New LeTV" resume trading?
For LeTV's investors, the biggest concern is when the stock will resume trading. At the Shenzhen Stock Exchange, the most frequently asked questions by investors were the issue of resumption of trading, but LeTV will respond to announcements of the designated faith website.
LeTV.com announced on September 27 that the company intends to be renamed as LeTV Information Technology (Beijing) Co., Ltd., and the securities abbreviation is intended to be changed to New LeTV. "New LeTV" replaced "LeTV.com", and the new management team with Sun Hongbin as the chairman and Liang Jun as the general manager had "segmented" the LeTV network under the control of Jia Yueting in the past. The old image.
LeTV announced on the evening of October 9 that upon application, the stock will continue to be suspended from the opening of the market on October 17, 2017. By then, LeTV will suspend the license for more than half a year (to suspend trading on April 17, 2017). The reason given by LeTV.net to continue to suspend trading is that major asset reorganization involves major non-precedent cases. The development of related work is currently subject to large uncertainties. Therefore, the company is not expected to disclose this major asset restructuring plan or report before October 16, 2017. Book and apply for resumption.
The major asset restructuring mentioned by LeTV is to purchase 100% equity interest in LeTV Films through the combination of issuing shares and paying cash. LeTV.com had announced on December 5, 2015 that the company had received a pledge from controlling shareholder Jia Yueting to fundamentally eliminate the related transactions between LeTV and related parties, LeTV, in order to further exploit the synergistic effect of LeTVE. The appropriate time in the next year, in a reasonable manner, in accordance with relevant regulations of the China Securities Regulatory Commission, transfer the controlling share of LeTV Films to LeTV.com, and suspend trading from December 7, 2015. The suspension will be held until June 3, 2016. Days to resume trading. Then went through several suspension cards.
According to the reorganization plan disclosed by LeTV on May 6, 2016, the company signed the "Agreement on Issuance of Shares and Payment of Cash Purchase Assets" with 44 LeTV industry shareholders including LeTV Holdings, Zhang Yimou, Guo Jingming and Huang Xiaoming. Pursuant to the agreement, the company intends to issue shares to the above-mentioned LeTV studio shareholders and pay cash to purchase 100% of LeTV's total equity held by it. The estimated value of LeTV's 100% equity is 9.845 billion yuan. After consultation between the parties to the transaction, the transaction price was initially determined at 9.8 billion yuan.
(LeTV Online Acquires 14 Opponents from Music Video Source: LeTV Announcement)
LeTV Films Injects "New Music Vision" Adds Uncertainty
LeTV's injection into LeTV is led by Jia Yueting, but Jia Yueting has resigned as chairman and general manager of LeTV. In the United States, he focuses on LeEco's automotive business. Successors Sun Hongbin and Liang Jun will not reverse their attitude toward LeTV. I do not know.
This time, LeTV.com's renewed resumption of trading due to major unconventional issues involved in the reorganization led to investors’ concerns about whether LeTV could successfully inject “New LeTVâ€. The exposure of LeTV's sueding incident, "The whizzing youth" at the box office, has further aggravated investors' inner worries.
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