The same day, Music Watch shares soared, the intraday close to the daily limit, the final increase of 5.77% to close.
The following is the full text of the announcement:
LeTV Information Technology (Beijing) Co., Ltd. to clarify the announcement
All members of the Company and its board of directors guarantee that the information disclosed is true, accurate and complete and contains no false records, misleading statements or material omissions.
First, the rumor situation
Recently, LeTV Information Technology (Beijing) Co., Ltd. (hereinafter referred to as "Company", "LeTV Network" or "Listed Company") noticed that some of the online media reported that "Jia Younting admitted that pledged shares hit the liquidation line, Sun Hongbin or part Then plate "and other articles, the report said:
"1. A senior market analyst told CBI that the equity stake in music video held by Jia Youting will be sold off by the institution. It is expected that Sun Hongbin will only partially receive the disc and the key to the music video rebirth is still to solve the capital issue.
2, the senior market analysts expect Sun Hongbin will only be part of the plate, because on the one hand, if the full takeover of music companies holding the Internet stocks require huge amounts of funds, the pressure will be great, on the other hand even Sun Hongbin invested huge sums of money to comprehensive 'Dish plate', but also music business management level there is no substantive help. So, Sun Hongbin will not fully accept the plate. However, he estimates he will do some 'image projects' and take over some of the music's equity stake, releasing confidence to the banks and the secondary market and easing the pressure on the music scene to be sold off. "
Second, clarify instructions
The Company disclosed the Clarification Announcement (Announcement No .: 2018-040) on March 1, 2017. In the announcement, it confirmed that the Company held the state-owned Replay pledged repo transaction status held by the Company and Jia Yueting Stock Disposal Plan or Arrangement Disclosure:
As confirmed by Mr. Jia Yunting, all the shares pledged repo transactions of Mr. Jia Yuating have hit the liquidation lines agreed upon in the agreement and all the pledged repo transactions of Mr. Jia Yunting have been defaulted. The Company has not yet received Mr. Jia Youting Any disposal plan or arrangement in respect of the shares of Lotte Media held by him and the progress of disposal of the shares held by Mr. Jia Yuating to a certain extent is affected by the pledge and freezing status of its shares. "
On March 2, 2018, the Company and the relevant person in charge of Sunac China Holdings Co., Ltd. (hereinafter referred to as "Sunac China") confirmed that Sunac China currently does not have any plans to take over the LeTV stock program held by Mr. Jia Yueting.
The Company will also continue to pay attention to the changes in the shares of Mr. Jia Yueting and timely fulfill its obligation of information disclosure. Follow-up related information is subject to the announcement of the listed company.
Third, other instructions
As confirmed by the board of directors of the Company, as of the date of this announcement, there was no undisclosed matter that should be disclosed in accordance with the Rules Governing the Listing of Stocks of 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.
Music Watch Information Technology (Beijing) Co., Ltd.
Board of Directors
March 2, 2018