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Jia Yueting took Leleco shares to repay the debt

November 09, 2018 04:08
Author: to Yan Tao
source: Securities daily
edit:Eastern Fortune Network

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Jia Yueting holdsLetvStocks continue to decrease. On November 8, LeTV.com announced that as of November 7, Jia Yueting held 98,627,719 shares of the company, accounting for 24.72% of the company's total share capital, of which 688,858,714 shares were pledged, accounting for 21.78% of the company's total share capital; Some company stocks were frozen and waiting to be frozen.

The "Securities Daily" reporter noted that compared with the statistics on October 31, Jia Yueting's shares decreased by 10.75 million shares, a decrease of 37.96 million shares from June 30 this year. LeTV.com said that according to Jia Yueting’s previous email reply, it was used by the judicial disposition to repay the debt.

According to LeTV's previous announcement, on September 14 this year, China Minsheng Trust took the lead in deconstructing Jia Yueting's 13652 million shares of LeTV, which opened the curtain of Jia Yueting's debt repayment. September 17,Guotai JunanIt announced that it plans to use the judicial saleable frozen secondary market centralized bidding transaction within 90 natural days starting from September 13 to dispose of 39.54 million LeTV shares pledged by Jia Yueting.

Subsequently, the institutions took action.Guotai JunanOn September 21, the 6.1 million shares pledged by Jia Yueting were deconstructed;Oriental SecuritiesOn October 15 and October 26, respectively, 3 million shares and 5 million shares of LeTV shares pledged by Jia Yueting were deconciled.

However, Jia Yueting is still the largest shareholder of LeTV. According to LeTV's third quarter report of 2018, as of September 30, LeTV's second largest shareholder is Tianjin Jiarui Huixin Enterprise Management Co., Ltd., which is owned by Sunac, with a shareholding ratio of 8.56% and is currently pledged.

In addition, LeTV also announced that the company's current debt types include financing loans, operating liabilities and non-operating liabilities, of which, as of the end of November, outstanding financial institutions borrowing debts of about 1.923 billion yuan. The company has a risk of not being able to pay.

Recently, FF founded by Jia Yueting continued to clash with Evergrande and launched global financing. LeTV.com continued to carry out risk warnings, saying that the company is unaware of FF's long-term strategic planning, future production and sales, and does not directly or indirectly hold any interests in FF, and has no equity or any partnership with FF; the company cannot confirm FF at present. Whether the source of funds is directly or indirectly related to the company's related party receivables or related commitments of Jia Yueting's non-compliance.

(Article source: Securities Daily)

                (Editor: DF407)

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