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Jia Yueting responded to the reduction of 22 million 20 thousand shares of music network: the court did not inform the direct disposal of debt repayment.

via:博客园     time:2018/10/10 20:58:59     readed:157

On October 10, Levision Information Technology (Beijing) Co., Ltd. (300104, Levision) issued a prompt announcement on the risk of suspension of listing shares, saying that as of October 9, Levision's largest shareholder, Jia Yueting, held 22.191.28 million shares less than 30 June, according to Jia Yueting. Prior to and today's mail reply, its judicial disposal of shares used to repay debts.

As of October 9, 2008, Jia Yueting held 1,0224.7 million shares of the company, accounting for 25.12% of the company's total equity, of which 877 million were pledged, accounting for 21.98% of the company's total equity, and 1,0224.7 million shares were frozen by the third intermediate people's court in Beijing and other judicial organs for a period of self-freezing, according to the announcement released by Levision.com. Three years from the date of the freezing; the holding of the company's shares are frozen in full waiting for a period of 36 months.

As of October 9, the company's largest shareholder, Jia Yueting, had 22.191.28 million shares less than 30 June, according to an October 10 reply by Jia Yueting.

Mr. Jia Yueting and Cathay Pacific Jun'an Securities Co., Ltd. completed the stock pledge business on June 23, 2016. They pledged 39.54 million shares of Levision stock and borrowed 300 million yuan to supplement Levision Holding Liquidity. As of October 9, 2008, the court has disposed of 6161100 shares of stock, and the funds from the disposal of the stock are directly used to repay Guotai Junan's debts.

All of the above acts are passive behaviors caused by the court's direct judicial treatment without informing Mr. Jia Yueting himself.

All Jia Yueting's Pledged Shares have touched the liquidation line agreed upon in the agreement, and the disposal progress of Jia Yueting's shares is affected to a certain extent by the pledge and freezing status of his shares, according to Levision.com. The actual controller of the company has the risk of change.

LEVIEW Information Technology (Beijing) Co., Ltd. on the stock there is a risk of suspension of listing prompt notice

Special note:

1. If the company's audit report for 2018 is issued and it is unable to express its opinion, the company may suspend the listing of its shares.

2. On June 30, 2018, the net assets of shareholders of listed companies are - 477 million yuan, and there is a possibility of sustained losses in the second half of the year. If the net assets of the company in 2018 are negative after audit, the company has the risk of being suspended from listing.

3. As of October 9, 2018, Mr. Jia Yueting held 100,224.75 million shares of the company, accounting for 25.12% of the company's total equity; of which 87,685,871,140 shares had been pledged, accounting for 21.98% of the company's total equity; the company's shares were all frozen, waiting to be frozen.

As of October 9, 2018, Mr. Jia Yueting's shares had fallen by 20,201,912,280 shares from June 30, 2018. According to Mr. Jia Yueting's previous and today's e-mail replies, his judicially disposed shares were used to repay his debts.

4. If Ronald Ronald's new statement is issued, the newly generated terminal-related assets, liabilities, net profits and cash flows will not be included in the merger after the disposal date.

5, as of the end of October 2018, the debt maturity of financial institutions is expected to be about 1 billion 918 million yuan.

6. The company has recently received the "Civil Ruling", the company has the risk of losing the control rights and shareholders'rights of the relevant holding subsidiary or shareholding subsidiary.

The listed company will retain the right to pursue and prosecute the relevant liabilities and non-listed system related enterprises in accordance with the law.

I, issued in 2018

Letv net Information Technology (Beijing) Co., Ltd.

To date, in the audit report 2017

If the Company's 2018 annual report is issued after audit

Two and 2018 the risk of net assets being negative for the whole year.

The company issued the 2018 semi annual report in August 30, 2018. In the first half of 2018, the net profit of shareholders of listed companies from January to June of 2018 was - 1.104 billion yuan, and the net assets of shareholders of listed companies on June 30 of 2018 was - 477 million yuan (the financial data of the year 2018 was not audited by CPA).

If, after audit, the company's net assets for the year 2018 are negative, according to the relevant provisions of Chapter 13 of the "Shenzhen Stock Exchange gem listing rules", the company appears

At present, the company's board of directors and management are trying to solve the company's current operating difficulties, but there is a possibility of sustained losses in the second half of the year. The quality and effect of debt disposal will play an important role in the financial situation and structure of the company throughout the year 2018 and beyond. The current management of the company is also trying to promote the progress of follow-up negotiations between the non-listed system and the non-listed system, hoping that the non-listed system can pay more attention and focus on solving the debt problem between the listed company and the non-listed company. The listed company will retain the right to pursue and Sue the relevant parties of the non-listed company according to law for the contingent liabilities and debts that may result in the potential undertaking of the listed company.

However, as far as the current progress and promotion of negotiations with non-listed system related companies are concerned, the effect of follow-up negotiations still largely depends on the willingness and attitude of major shareholders. Listed companies do not get direct cash inflows due to debt resolution. It takes a long time and has great uncertainty to dispose of assets to obtain cash. Listed companies can not get cash support from the existing related party debt resolution plan in the short term. The operating difficulties of listed companies are caused by lack of funds. It can not be discharged directly or effectively.

In addition, the non-listed system related parties to solve the debt problem of substantive landing and implementation also have the possibility of change. In this process, listed companies expect the two sides can jointly promote the solution to the debt problem, the company management will actively safeguard the rights and interests of listed companies and small and medium shareholders, as well as the potential rights of employees and creditors.

Three, other risks of the company

Based on the current operation of the company, the board of directors, board of supervisors and management of the company are invited to pay attention to investors.

Lower risk:

1, the risk of actual controller change

As of October 9, 2018, Mr. Jia Yueting held 1,224.75 million shares of the company, accounting for 25.12% of the company's total equity; 87,688,871,140 shares were pledged, accounting for 21.98% of the company's total equity; 100,224,751,600 shares were frozen by the third intermediate people's court of Beijing and other judicial organs for three years from the date of the freeze. The company's shares are all waiting for a freeze, and the waiting period is 36 months.

As of October 9, 2018, Mr. Jia Yueting's shareholding has decreased by 22,201,912.28 million shares from June 30, 2018, according to Mr. Jia Yueting's reply today.

Mr. Jia Yueting and Cathay Pacific Jun'an Securities Co., Ltd. completed the stock pledge business on June 23, 2016. They pledged 39.54 million shares of Levision stock and borrowed 300 million yuan to supplement Levision Holding Liquidity. As of October 9, 2008, the Court has disposed of 6,161,100 shares of stock, and the funds obtained from the disposal of the stock are directly used to repay Guotai Junan's debts.

All of the above acts are passive behaviors caused by the court's direct judicial treatment without informing Mr. Jia Yueting himself.

All the stocks pledged by Mr. Jia Yueting have touched the liquidation line stipulated in the agreement. The disposal progress of the stocks held by Mr. Jia Yueting is affected to some extent by the pledge and freezing state of his stocks. The actual controller of the company has the risk of change.

2, the risk of company stock being suspended from listing.

The company disclosed the "Semi-annual Report 2018" on August 30, 2018. The net profit of shareholders of listed companies from January to June 2018 was - 1.104 billion yuan, and the net assets of shareholders of listed companies on June 30, 2018 were - 477 million yuan. At present, the company's board of directors and management are trying to solve the company's operating difficulties, but due to the related party debt caused by the company's capital problems can not be solved, there is a possibility of sustained loss in the second half of the year.

If the net assets of the company in 2018 are negative after audit, the company has the risk of being suspended from listing.

On April 27, 2017, the company disclosed the audit report for 2017. Lixin Accounting firm (Special General Partnership) issued an audit report that could not express its opinion. To the end of 2018, if the company audit report 2017

3, part of the associated party receivables recovery risk

The progress of listed and non-listed system debt repayment schemes is subject to the disclosure of the Notice on Progress in Solving the Debt Problem of Non-listed System (Bulletin No. 2018-120). In addition to the information disclosed by the company, no debt repayment plan has been reached with the affiliated company of the unlisted system. At present, the debt problem disposal plan formed by the debt disposal group of listed companies and non-listed companies has not been repaid by cash. It basically offsets the existing debt of non-listed companies by means of transfer of creditor's rights and disposal of assets. Listed companies can not get cash support in the short term, because of lack of funds, the operating difficulties of listed companies can not be directly and effectively relieved.

4. Part of the risk that financial institutions will not be able to pay loans on time.

According to the company's statistics, the types of corporate debt include financing loans, operating liabilities and non-operating liabilities, of which, by the end of October, the expected maturity of financial institutions borrowing debt of 1.918 billion yuan. There is a risk that the company cannot pay on time.

5, lose control of the controlling shareholder's risk.

According to the confirmation issued by the Third Intermediate People's Court of Beijing, if the judicial auction is finally completed, Tianjin Jiarui holds 46.0507% of Lerong's new registered capital, Lerong holds 36.4046% of its new registered capital and Lerong's new largest shareholder will remain unchanged. For Tianjin Jia Rui, Lok Rong has become a subsidiary of a listed company. The scope of merger of listed companies shall be based on the opinions of audit institutions.

Up to now, the company will hold a new part of the registered capital of Lerong to pledge to Tianjin Jiarui and Rongchuang Real Estate Group Co., Ltd. If the company can not repay debts on time resulting in the pledge of equity is disposed of by the pledgee in accordance with the law, the company holds the new Lerong equity ratio there is a risk of decline.

6, the risk of new financing can not be completed at the appointed time.

At present, Rongzhixin is actively pushing forward and reaching the delivery requirements of the Capital Increase Agreement. It has not yet reached all the delivery conditions and has not obtained all the additional funds. It is still necessary for the capital increase parties to pay the remaining capital increase after confirmation of the delivery conditions.

The delivery conditions required for the new capital increase are in the process of being reached, but there is a possibility that the new capital increase will not be completed due to other reasons or that the new actual cash increase will be changed.

7. The company and Faraday Future do not have any equity, equity or partnership. The company is not aware of Faraday Future's long-term strategic planning, future production and sales, does not directly or indirectly hold any equity in Faraday Future, and has no equity or any partnership with Faraday Future. Whether there is a direct or indirect relationship between the source of funds for raday Future and the receivables of the company's affiliates or the related promised loans that Mr. Jia Yueting has not fulfilled.

8, the risk of illegal repurchase liability.

On April 18, June 4, and July 9, 2018, the company announced the Notices on the Reply to the Inquiry Letter of Shenzhen Stock Exchange (Notice No. 2018-061, 2018-096) and the Notices on the Progress of Internal Verification of Unlawful External Guarantee Matters (Notice No. 2018-101), respectively, and disclosed the violation of the company. Regulate related matters related to external bonds.

The company recently received the Civil Ruling of the Third Intermediate People's Court of Beijing, and the applicant was Deqing Kai-shek, one of the new investors of Lexus Sports at that time. Details can be found in the "Notice on the Progress of Arbitration Matters" published by the company on Juchao. com (Bulletin No. 2018-153).

The ruling resulted in the freezing of shares in some bank accounts and holding companies. The frozen bank account involves a frozen amount of 3.57 million yuan. If the company is eventually found to be responsible for repurchase and lawsuit compensation, if the company fails to fulfill the relevant obligations in time, it will lead to the judicial disposal of the frozen shares of the holding and the shareholding subsidiaries, and may lose the control rights of the relevant holding or shareholding subsidiaries. Risks of shareholders' rights.

According to the company's current understanding, the matters mentioned in this ruling have not fulfilled the procedures for examination, approval, deliberation and signature stipulated in the articles of association of the listed company and relevant laws and regulations, and their legal effect is doubtful.

The listed company will retain the right to pursue and prosecute the relevant liabilities and non-listed system related enterprises in accordance with the law.

9, if the new financial statement, the impact on the operating income and cost of listed companies

According to the company's Annual Report 2017 and Semi-annual Report 2018, the company's operating income and operating costs are as follows:

orgsrc=//img2018.cnblogs.com/news/66372/201810/66372-20181010201702923-1149707857.jpg

In terms of business, there is no fundamental change in the business operation of the company and the new cooperative mode between the company and Lerong, but there is the possibility of further adjusting the cooperative mode after the change of the new equity ratio caused by the Lerong ownership. The new terminal-related assets, liabilities, net profits and cash flows generated by Lenovo will no longer be included in the merger after the disposal date. The scope of merger of listed companies shall be based on the opinions of audit institutions.

According to the company's preliminary simulation statistics, if the merger scope of Listed Companies in 2017 does not include Lerong Zhixin, the simulation calculation of the listed companies and Lerong Zhixin related advertising, membership, CDN service fees and other revenue accounted for about 40% of the total operating income.

Four, risk warning arrangements

On 13 July 2018, 20 July 2018, 27 July 2018, 3 August 2018, 10 August 2018, 17 August 2018, 24 August 2018, 30 August 2018, 6 September 2018, 13 September 2018, 19 September 2018, 26 September 2018, the company disclosed Tip Notice on the Risk of Suspension of Stocks (Bulletin No. 2018-105, 2018-107, 2018-108, 2018-109, 2018-117, 2018-119, 2018-122, 2018-129, 2018-133, 2018-134, 2018-140, 2018-145). According to the relevant requirements of the Shenzhen Stock Exchange's GEM Listing Rules (Revised 2018), the company will continue to fulfil the relevant obligations of listed companies, and then issue a risk warning announcement every five trading days that the company's shares may be suspended until the suspension of listing risk is eliminated or the exchange makes corporate shares. The decision to suspend the listing of the tickets.

Five, other matters

1, the company will fulfill its obligation of information disclosure in accordance with the progress of the matter. Investors should pay attention to investment risk and rational investment.

2. Investor consultation:

Tel: 010-51665282

Mailbox: ir@le.com

This announcement

LETV information technology (Beijing) Limited by Share Ltd

Board of directors

Two October 10th 18

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