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Music Watch: did not form any substantive restructuring plan and intention

via:博客园     time:2018/2/22 22:31:33     readed:257

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February 22 news, LeTV released announcement said on the media referred to as "restructuring plan", as of now, the company did not form any substantive programs and intentions, follow-up relevant information, please refer to the announcement of listed companies shall prevail .

Earlier media reports said: "LeTV internal research is under way to develop a restructuring program. However, there is great uncertainty about the restructuring plan. Those close to the top of Sunac Group said that it will take at least three months for LeTV to finalize. Earlier, Sunac held a 8.56% stake in LeTV, second only to LeTV's founder Jia Yueting, but the latter has pledged its entire 25% stake and has already broken the liquidation line. This also means that the future music Watch's shares may be more fragmented. & rdquo;

The following is the original LeTV announcement:

LeTV Information Technology (Beijing) Co., Ltd. to clarify the announcement

First, the rumor situation

Recently, LeTV Information Technology (Beijing) Co., Ltd. (hereinafter referred to as "LeTV" or "listed company") noted that some of the online media reports that " Program future equity or more scattered "and other articles, the report said:

"Music Watch is studying the development of internal restructuring plan. However, there is great uncertainty about the restructuring plan. Those close to the top of Sunac Group said that it will take at least three months for LeTV to finalize. Earlier, Sunac held a 8.56% stake in LeTV, second only to LeTV's founder Jia Yueting, but the latter has pledged its entire 25% stake and has already broken the liquidation line. This also means that the future music Watch's shares may be more fragmented. & rdquo;

Second, clarify instructions

About the media mentioned "restructuring plan", so far, the company did not form any substantive programs and intentions, the follow-up related information, please refer to the announcement of listed companies shall prevail.

Third, the relevant risk warning and other instructions

1. Up to now, Mr. Jia Yuanting holds 102,426.66 million shares of the company, accounting for 25.67% of the total share capital, of which 1,019,539,800 shares have been pledged to financial institutions and 1,024,266,600 shares have been frozen by the judiciary such as the Third Intermediate People's Court of Beijing. Tianjin Jia Rui Huixin Enterprise Management Co., Ltd. holds 314,422,200 shares, accounting for 8.56% of the total share capital.

(2) There is a risk of the equity pledge of Mr. Jia Yuating being disposed of by the relevant institutions due to the failure of timely additional guarantee, which may result in the change of the actual controller of the Company.

The company has emailed and reminded Mr. Jia Yueting, the obligor of information disclosure, in accordance with the relevant provisions of "Rules for the Implementation of the Rules Governing the Stockholding of Shares by Listed Companies and Directors, Supervisors and Senior Management of Shenzhen Stock Exchange", if Mr. Jia Yunting's shares involve judicial enforcement and enforcement Equity pledge agreement trigger reduction behavior, required in accordance with the relevant provisions of the notice in advance to reduce the plan of listed companies, listed companies to the Exchange for the record and to be announced.

3. The Company disclosed "2017 Annual Performance Forecast" (Announcement No .: 2018-025) on January 30, 2018. It is estimated that the Company will make a loss of RMB 11,604,953,400 to RMB 11,699,953,400 in FY 2017; on February 8, 2018, the Company disclosed " (Announcement No .: 2018-032), the Board of Directors, the Supervisory Committee and the management of the Company may make changes based on the actual controllers they are currently facing. Recovering receivables from related parties is difficult and the cash flow Tension, the existing business performance there is a significant uncertainty of the actual operation, draw investors to pay attention to investment risk.

At present, the company has been actively promoting and working hard to solve all the difficulties and problems it faces, with a view to restoring the normal operation of listed companies.

4. As confirmed by the board of directors of the Company, as of the date of announcement of this announcement, there is no other matter that should be disclosed but not disclosed as required by the Rules Governing the Listing of Stocks on the Shenzhen Stock Exchange and other relevant laws, rules and regulations .

Fourth, necessary tips

The designated media for information disclosure of the Company are China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily and www.cninfo.com.cn, the information disclosed by the Company is disclosed in The contents of the above designated information disclosure media shall prevail.

Please investors rational investment, pay attention to investment risk.

Special announcement.

Music Watch Information Technology (Beijing) Co., Ltd.

Board of Directors

February 22, 2018

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