Sunac China held its 2016 results conference on the 28th. Chairman of the board of directors Sun Hongbin revealed that Sunac has invested RMB 12.4 billion in LeTV and has sent directors to three companies that have invested.
Since the end of last year, LeTV has been deeply trapped by the tensions in the capital chain and has provided financial assistance. The total investment in LeTV is RMB 15 billion, including the acquisition of 8.61% of the shares of LeTV.com with RMB 6.041 billion, and the new 33.5% of the shares after the release of RMB 7.95 billion. , Acquired 15% equity interest in LeTV Films for 1.05 billion yuan.
Sun Hongbin also gave his opinion on LeTV’s recent problems:
"Letvision is developing in a good direction. You have to give LeTV a process of development. Let's treat the business as a cut. If you want to cut the business, the direction of our investment has not changed. Let's sell it now. Cooperation in cooperation, the adjustment of personnel is also adjusted, these are not negative, it is positive. You look at the various sections of LeTV are right, but the combination is wrong, because you have no resources."
On the same day, LeTV announced an announcement that LeTV Information Technology (Kunshan) Co., Ltd. invested 700 million yuan for LeTV.
Of this amount, 70.36 million yuan was included in the registered capital, which accounted for 2.15% of the new total share capital of LeTV after the capital increase.
This Compal investment has many prerequisites, including the adoption of LeTV’s new shareholder resolution and the signing of transaction documents, as well as no major adverse changes to LeTV Zhixin and LeTV. Other investors who subscribe to LeTV’s newly increased capital have no material breach of contract.
Sun Hongbin
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