LeTV’s sacrifice is also LeTV’s broken wrist

In March of this year, Zhang Zhao also expressed to Sina Finance: "There is no timetable for listing. It may be very soon, maybe it is very slow."

In October of this year, LeTV Film Group obtained a refinance of RMB 340 million from round B of financing, and it is bravingly advancing toward the “faster or slower” listing target.

On December 5, the listing process came to an abrupt end.

On the evening of the 5th, LeTV announced that it will resume the next Monday (December 8th) and resume the transaction. The announcement also specifically mentions that LeTV will transfer its controlling interest in LeTV's related party to the company within the next year. Letv.


The tiger smells the sound of a broken dream.

The situation is always stronger than people. Whether Jia Liting, the fortune-builder or Zhang Zhao, the strongman of movie release, the storm that began in the middle of the year finally forced the strongman to bow his head. Faced with the situation, only the dreams were brought into reality.

LeTV reluctantly sacrificed the first trump card

Chinese capital players generally like the game of “family” and form a capital platform in the capital market that is capable of tumultuous capital formation through the establishment of explicit or dark affiliate listed companies. This is not new in China’s stock market, and of course it’s not worth it. Its number.

LeTV affiliates and their various business brands have demonstrated the confidence and aspirations of an independent listing. From the energy point of view of the business, there are indeed potentials, including LeTV, LeTV, and LeTV, which has been in the storytelling stage.

LeTV’s online suspension was announced on October 27th and October 25th. “There are major issues being planned. Given the uncertainties in the matter......the company will resume trading after disclosure of related issues.”

According to the requirements of the China Securities Regulatory Commission, the longest suspension period for major events does not exceed one month. Therefore, December 5 also became the final deadline for this major event - and the past month may be LeTV's encounter in the past six months. During the period when political doubts were most rampant, media speculation and indeed political news emerged one after another.

It seems that certain certainties began to land one after another. Jia Yueting made a sound on his microblog on the afternoon of November 26th. He had a smooth operation in Hong Kong and he has returned to Beijing for further treatment.

According to the December 1 "Meetings of the LGTV Investor Meeting Meeting," Jia Yueting is still recovering in the hospital, and his true body has also appeared.

Finally, Jia Yueting’s overseas trip from June is really over.

The announcement on the 5th said that "in order to improve the 'LeTVi' ecosystem, LeTV intends to acquire companies with a certain profitability to expand in an extension manner, but the two sides cannot reach an agreement on the valuation, so this time the decision to terminate the planning Matters, the company plans to follow the specific circumstances to determine whether to continue to start the transaction."

Suspension of the deadline has been reached, the resumption of the card soon, how to minimize the anxiety and anxiety of investors, using information that can stimulate investment confidence to support the resumption of the disk?

LeTV Vision became the first trump card that Jia Yueting had to call out on the hand - in fact, before this, Tigers and Sniffs heard more unbelievable LeTV news, including even an electric car in the United States. The brand cooperates to build cars, and the response from the latter's China headquarters is "do not know." The high valuation of LeTV Films in October and the outstanding performance of the two summer films “Little Times 3” and “Old Boys Raptors Crossing the River” have been widely recognized by the capital market and the industry. There is no doubt at present. It is the most growth star business/company in LeTV.

The “Northern Silicon” strategy of Jia Yueting’s overseas trip is constantly being built. The part of Los Angeles is the business impetus of LeTV. The latter has just established a subsidiary in Los Angeles on October 8. Clearly, LeTV is The Levision looked the biggest trump card at the moment, but in the twinkling of an eye, this trump card was beaten - the trump card's own strategic sacrifice, and the card player was also a helpless warrior.

Sure enough, the capital market gave enough confidence to this trump card. On the day of re-discovery (8th), LeTV had a daily limit of only half an hour after the opening of the market. Several times since June, LeTV was walking down the Yinxian. The stock price has fallen from the highest of 49.2 yuan in mid-June to 33.51 before the opening bell today, a drop of more than 30%.

LeTV's short board is still difficult to solve, the crisis is more than four volts

LeTV announced in August this year that it plans to raise 4.5 billion yuan in non-public offering of stocks, of which LeTV Holdings will invest 1 billion yuan, CITIC Securities to invest 500 million yuan, Blue Capital to invest 1.5 billion yuan, and Ningbo Jiuyuan to invest 1 billion yuan. Jintai Zhonghe invested 500 million yuan. However, the plan has not been followed since. Although on the 1st, Jia Yueting talked with investors about the round of financing again and said that it is "currently relatively smooth." However, there has been no clearer and more updated progress. There is reason to believe that LeTV The financing dilemma remains unsolved - if there is no sufficient cash flow for LeTV that is vigorously developing hardware manufacturing, building a car, building television, and making various kinds of products will all face the danger of collapse at any time.

The announcement on the 5th also showed the danger. "Jiayue Fang, a shareholder of LeTV.com, will transfer all the stocks and get the support needed by LeTV." Jia Yuefang plans to transfer in a centralized manner through agreement transfer or block trading within the next month. The company disposes of its own LeTV stocks and lends all of its proceeds to the company for use as working capital. According to the announcement, Jia Yuefang’s shareholding accounted for 4.28% of the company’s total share capital, which was calculated based on the closing price of LeTV at the closing price of 33.51 yuan per share. The total value of this stock was about 1.2 billion yuan.

Jia Yuefang has transferred his holdings more than once this year until this time. Jia Yueting, on several occasions, used stock pledges to deal with LeTV's short funds, and expanded LeTV's business layout at a pace that couldn't stop. “In the past, there was a kind of footless bird who had been flying all his life. Even if you are tired and sleepy, you will only sleep in the wind. Once you have landed once in your life, then death will come."

- The movie "Alfred"

Then the question has come. In order to keep flying, what will the next card of LeTV be?

When Jia Yueting can recover -- not only the rehabilitation of the health level -- it is still the biggest uncertainty of LeTV, but the "Pacific Peace" (Last) issued by LeTV's Lunar New Year has no chance to turn over, and its owner Whether or not the tactics of “Breakout” close to “Step away” will reproduce the miracle of “The Breakup Master” of the summer summer light – Tiger Sniff had to consider this possibility extremely small. At that time, “Transformers 4” was The 2D screen is absent. LeTV's performance at the end of the year is not optimistic. The excitement of the trump card will quickly disappear. The crisis of LeTV will continue to hit. Who will once again turn the tide for Jia Yueting?