Titanium Media Express | Aug. 21 News: Shenzhen Stock Exchange today sent an inquiry to LEVEL (300104), noting that LEVEL disclosed a "prompt announcement on the risk of suspension of the listing of stocks", announcing that LEVEL may not be able to complete the additional capital delivery terms before Sept. 30 and constituting a risk of default, and LEVEL. Net and unlisted system have reached a scale of about 6 billion 700 million yuan.
The management of Shenzhen Stock Exchange's GEM said it was concerned about the situation and demanded that LTV carefully verify and explain the relevant issues, including the specific progress of the new venture capital increase, whether the parties to the agreement have fulfilled the relevant obligations as agreed, and the expected completion time of the venture capital increase, if the venture capital increase can not be completed by September 30. The terms of delivery, as promised by LETV, are liable for breach of contract.
On August 17, letv.com released a notice stating that it had reached an agreement with letv's unlisted system on the debt scale of 6.7 billion yuan.
In the exclusive interview with Tencent's “First Line”, LeTV's non-listing system (LeTV Holdings) debt management team said that LeTV Holdings has repaid 263 million yuan in debt and reached a debt payment plan of more than 4 billion yuan with LeTV. .
" the remaining billions of yuan should not have been borne by Jia Yueting's company debt, Jia zong promised to be borne by him personally. " the person in charge said. The person in charge further explained to Tencent's " frontline," the debt data announced by letv.com is basically consistent with the debt data held by letv's unlisted system debt processing team. both parties have confirmed that the total balance of the unlisted system's related debt to listed companies is about 6.653 billion yuan, and the unlisted system's related debt to listed companies that is not confirmed and disputed by both parties is about 120 million yuan. "
In the specific repayment plan, LeTV's non-listing system had previously reached a list with the listed company. “Leishi Holdings (Beijing) Co., Ltd. held a 10% equity interest in Lerong Zhixin for 1 billion yuan and LeTV financial assets for a debt of 1.37 billion yuan” And other repayment options.
To this end, the responsible person said that, up to now, the amount of asset-for-debt repayment in respect of the non-listed system's repayment of related debts of listed companies has been completed at 1.88 billion yuan, and other repayment schemes have also been in the process of being promoted. It is believed that 70% of the debt will eventually be settled. At the same time, he also stressed that the implementation of the final plan, including the two debt repayment plans, is still subject to subsequent announcements issued by listed companies.
However, the debt with solutions this time is more than 4 billion yuan, and there is still a gap of more than 1 billion yuan from the total debt of 6.653 billion yuan. This person-in-charge frankly admitted to Tencent's frontline that although shareholders of unlisted companies bear limited liability and the debts owed by unlisted companies to listed companies should not be borne by individuals legally, due to their feelings and responsibilities towards listed companies, Jia Yueting, the major shareholder of listed companies, promised to be personally responsible and earnestly fulfill the shareholders' responsibilities of listed companies, thus fulfilling his commitment to fulfill his duty to the end and safeguarding the rights and interests of listed companies and the interests of small and medium-sized shareholders.
According to the Shenzhen stock exchange's inquiry letter, letv.com needs to reply before August 27.
The financial report for 2017 showed that the operating income of LTV in 2017 was 7.725 billion yuan, 68% lower than that of the same period of the year, and the net profit attributable to the shareholders of listed companies was 13.788 billion yuan, a decrease of 2601.63% compared with the same period of the year. The loss of 1,115,148,800 yuan to 1,111,014,08,000 yuan in January-June 2018 will result in negative net assets belonging to shareholders of listed companies by 30 June 2018. The 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.
The following is the inquiry letter from the Shenzhen Stock Exchange to LeTV:
Gem inquiry letter [ 2018 ] No. 362
The Limited by Share Ltd information technology (Beijing) board of directors:
On August 17, your company disclosed the “Prompt Announcement on the Risk of Suspension of Stocks”, saying that Lerongzhixin may not be able to complete the capital increase and delivery terms before September 30 and constitute a default risk, as well as your company and non-listing. The system reached a total of about 6.7 billion yuan in debt recognition. Our department is concerned about this. Please check the following matters carefully after your company has verified it:
1. The relevant announcement disclosed by your company in the early stage shows that Lerong Zhixin has signed a capital increase agreement with Linzhi Lichuang, Jingdong Bangneng, Sega Holdings, Jinrui Xian, Jiangsu Design Valley and TCL New Technology. Please add a detailed explanation of the specific progress of the current Le Rong's new capital increase, whether the parties to the agreement have fulfilled the relevant obligations as agreed, and the expected completion time of the capital increase.
2. Please check with the delivery terms and specific agreement of the new capital increase agreement to illustrate the specific reasons why Lerox may not be able to complete the terms of delivery by September 30, and the liability for breach of contract that your company may undertake.
3. Please verify and explain the current situation of the pledge and judicial freezing of the new shares of Le Rong, the impact of pledge and judicial freeze on the newly completed capital increase of Le Rong and the measures your company intends to take.
4. please verify that if le Rong zhi Xin cannot obtain the impact of capital increase on le Rong Xin he and your company's continuing operations, and give sufficient risk tips.
5. Please add details of the amount of debt you have reached with the unlisted system of about 6.7 billion yuan, and verify and explain the claims and debts identified this time and the relevant announcements of your company's previous disclosure. Responses to inquiries and periodic reports on the differences and causes of non-listed system debt.
6. Please sponsor the organization to issue an independent inspection opinion on the above-mentioned issues. Please provide us with a written explanation of the above questions and submit them to our department by August 27 th.
I am writing to inform you.
GEM Management Department August 21, 2018
(this article is reviewed by the titanium media from surging news, Tencent Technology).
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