LeEco Clarification: Jia Yueting Remains The Largest Shareholder And Actual Controller

- Sep 26, 2018-

On the 25th, LeTV (hereinafter referred to as "the company" or "listed company") issued a clarification announcement saying that the company noticed that some online media reported that "Sun Hongbin took over, and LeTV has been saved?" and other articles, the report said: "Sun Hongbin fully took over LeTV, let "Jia Leshi" become "Sun Leshi", Jia Yueting completely bid farewell to LeTV, bid farewell to LeTV, bid farewell to various expectations."


Up to now, the proportion of equity held by Tianjin Jiarui in listed companies has remained unchanged at 8.56%. The listed company has not received plans to increase its holdings and purchase other assets by Sun Hongbin and its related parties. If this LeCheng new equity auction is completed, Tianjin Jiarui will become the first major shareholder of Lerong, and Lerong will become a LeTV shareholding company. The listed company does not hold the equity of LeTV Film (Beijing) Co., Ltd. under the auction.


At present, Jia Yueting is still the largest shareholder and actual controller of the listed company and has not changed. The stock pledged by Jia Yueting has touched the closing line agreed by the agreement. The progress of Jia Yueting’s holding of the company’s stock is affected to a certain extent by the pledge and freezing of its stock.


According to the company's previous announcement, Guotai Junan passed the judicial saleable frozen secondary market centralized bidding transaction, and disposed of its pledged underlying securities shares, which may cause Jia Yueting to passively reduce the company's stock by 39.54 million shares.