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LeTV.com will lose more than 150 million in the first quarter. Will it be officially delisted at the end of this month?


2020-04-09 17:14:42Beijing News Reporter: Yifu Lu Editor: Yue Caizhou
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LeTV.com will lose more than 150 million in the first quarter. Will it be officially delisted at the end of this month?

2020-04-09 17:14:42Beijing News reporter: Lu Yifu

LeTV’s 2019 annual report will be released on the 26th of this month. At that time, if the net assets attributable to shareholders of the listed company are negative, LeTV will lose its qualification as a listed company. In April last year, LeTV was suspended from listing on the Shenzhen Stock Exchange due to the negative net assets attributable to shareholders of listed companies in 2018. According to the relevant regulations of the GEM, the net assets will be officially delisted for two consecutive years.

Beijing News (Reporter Lu Yifu) On April 9, LeTV announced the first quarter performance forecast for this year, saying that the company expected a loss of 150 million to 155 million yuan, a loss of 170 million yuan in the same period last year. LeTV said that it is expected that the impact of non-recurring profit and loss on net profit in the first quarter will be about 100,000 yuan, and the net assets attributable to shareholders of listed companies will be negative.

In the performance forecast, LeTV stated that the company’s management tried its best to adjust the business model, but the company was affected by the large number of historical related receivables and prepayments that could not be recovered in time, the business development continued to be blocked, the overall revenue scale continued to shrink, financing costs and amortization The cost remained at a relatively high level, which caused the company to face a continuous loss.

LeTV emphasized that the company is currently actively requesting the actual controller Jia Yueting to be responsible for the related debt problems of listed companies, and instructing Jia Yueting and its related parties to effectively resolve their actual debts to listed companies with cash or their equity and assets. To the greatest extent possible, protect the rights and interests of shareholders of listed companies and ease the company’s financial pressure. “The company will adopt all means including legal means to protect the interests of shareholders and maintain the company’s ability to continue to operate.”

LeTV’s 2019 annual report will be released on the 26th of this month. At that time, if the net assets attributable to shareholders of the listed company are negative, LeTV will lose its qualification as a listed company. In April last year, LeTV was suspended from listing on the Shenzhen Stock Exchange due to the negative net assets attributable to shareholders of listed companies in 2018. According to the relevant regulations of the GEM, the net assets will be officially delisted for two consecutive years. According to LeTV’s performance report, the company’s net loss last year reached 11.28 billion yuan.

Beijing News reporter Lu Yifu edited Yue Caizhou proofreading Li Ming

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