Home > News content

LeTV: Cannot confirm the funding source of FF and related parties or Jia Yueting commits to borrowing relationship

via:博客园     time:2018/4/18 8:31:21     readed:238

On the evening of April 17th, LeTV announced that it was unable to confirm whether the funding source of FF was directly or indirectly related to the company’s related party’s receivables or Jia Yueting’s relevant pledged loans that did not perform.

The following is LeTV Announcement:

LeTV Information Technology (Beijing) Co., Ltd. Announcement on Reply to Shenzhen Stock Exchange Inquiry Letter

The company and all members of the board of directors ensure the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements or major omissions.

Special Note:

The quoted content of the reply to the following inquiry letter is LeTV’s response to the company’s inquiries. With regard to the information currently available, the company cannot confirm the authenticity and accuracy of its reply. This reply does not constitute a company's judgment on this question.

At present, the company is unable to confirm whether there is a direct or indirect relationship between the fund source of FF and the related party’s receivables or the relevant committed loans by Mr. Jia Yueting who have not performed.

I. Reply on the Inquiry Letter of LeTV Information Technology (Beijing) Co., Ltd.

LeTV Information Technology (Beijing) Co., Ltd. (hereinafter referred to as "Lvshiwang", "Company", "listed company" on April 13, 2018 received the Shenzhen Stock Exchange "About the music Inquiry Letter of Network Information Technology (Beijing) Co., Ltd. (GEM Inquiry [2018] No. 167, hereinafter referred to as "Inquiry Letter").

After the company received the “Inquiry Letter”, the board of directors and the management attached great importance to it and wrote a letter to Jia Yueting in a timely manner to communicate.

On April 13, 2018, the company sent an e-mail to Mr. Jia Yueting for inquiry. On April 17, 2018, the company received a reply letter from LeTV Holding (Beijing) Co., Ltd. (hereinafter referred to as "L&S") and a signed "Power of Attorney" sent by Mr. Jia Yueting's assistant. Mr. Jia Yueting authorizes LeTV Holdings to represent himself to reply to Mr. Jia Yueting’s related inquiries on the “inquiry letter”. The authorization period is the 90th day from the issuance of the “Power of Attorney”.

Based on the contents of the reply, the company replied as follows to question 2 in the "Inquiry Letter":

Question 2: Your company wrote back on April 11 that Rui Chi Smart Car (Guangzhou) Co., Ltd. (hereinafter referred to as "Smart Motors") is an affiliate of Faraday Future (hereinafter referred to as "United States FF"). The land auctions all come from the investment of FF strategic investors. Please continue to verify the specific relationship between Jia Yueting and its affiliates and the United States FF, the United States FF and SMART MOBILITY, Jia Yueting and their affiliates and Rui Chi Auto, including equity, agreement control, or other relationships; US FF strategic investors and Jia Yueting and Whether the related parties of the related parties have affiliated relationships, including equity, agreement control, or other relationships, etc.; whether the sources of investment funds of FF strategic investors in the United States are related to Jia Yueting and its related parties, and whether there is a relationship with the receivables of related parties of your company.

Reply:

The content of LeTV Holding's reply is as follows:

"1Please continue to verify the specific relationship between Jia Yueting and its affiliates and the United States FF, the United States FF and SMART MOBILITY, Jia Yueting and their affiliates and Rui Chi Automotive, including equity, agreement control or other relationships;

Responsiveness: As mentioned earlier, Smart Automotive and its shareholder Smart Mobility are affiliates of FF. FF operates in accordance with international legal norms and corporate governance structure. Mr. Jia Yueting is the CEO of FF Global Business and is responsible to the FF company's board of directors. According to the confidentiality provisions and legal restrictions of the agreement reached between the FF strategic investor as an independent third party and Mr. Jia Yueting, the relevant details can be disclosed at an appropriate time.

2 Whether the US FF strategic investors have any associated relationship with Jia Yueting and its related parties, including equity, agreement control, or other relationships;

Re: There is no relationship.

3 Whether there is a relationship between the source of investment funds for US FF strategic investors and Jia Yueting and its related parties;

Re: There is no relationship.

4 Is there any relationship with the receivables of related parties in your company?

Re: There is no relationship. ”

The above content is LeTV’s response to company inquiries. With regard to the information currently available, the company cannot confirm the authenticity and accuracy of its reply. This reply does not constitute a company's judgment on this question.

The company is currently unable to confirm whether there is a direct or indirect relationship between the funding source of FF and the related party’s receivables and the relevant committed loans of Mr. Jia Yueting who have not performed.

The company is actively coordinating with LeTV's non-listed system, and instructs related parties to effectively resolve the listed company's associated receivables due to historical related transactions of non-listed companies, so as to ease the company's financial pressure.

The company will continue to inquire and verify the relationship between Mr. Jia Yueting, Faraday Future, its affiliates and Ruichi Motors and sources of investment funds. At the same time, the company will also continue to pay attention to the progress of the matter. If it gets further information, the company will strictly disclose the relevant laws and regulations and its rules and regulations.

With regard to the other reply contents in the "Inquiry Letter", the company will promptly disclose the reply time according to the letter.

Second, the new music as Wisdom Electronic Technology (Tianjin) Co., Ltd. replenishment progress work

New Lezhi Zhijia Electronic Technology (Tianjin) Co., Ltd. (hereinafter referred to as “New Lezhi Zhijia”) is a subsidiary of the company. Currently, the company holds a 40.3118% stake in New Le Zhizhijia. On January 2, 2018 and March 29, 2018, the company disclosed the “Announcement on the Company's Contribution to the Increase of Capital of Its Controlling Subsidiaries and Related Transactions” (public notice No.: 2018-007) and “About the Company’s Capital Increase of Holding Subsidiaries”. Announcement on the Progress of Related-party Transactions (Announcement No. 2018-051).

In addition to the announced part of the new music as wise family replenishment work, follow-up work is still in communication and agreement with the parties, has not signed an agreement. If there is any progress, the company will perform the necessary approval procedures and issue a progress announcement in time according to relevant regulations.

Up to now, the company has pledged the shares held by Xin Le Zhi Zhijia. If the company fails to repay the debt on time, the pledged assets will be disposed of according to law, and the company will face the risk of losing the actual control of the new Le Zhi Zhijia.

Third, the documents for reference

1. LeTV Holding Inquiries Reply;

2. Power of Attorney.

Special announcement

LeTV Information Technology (Beijing) Co., Ltd.

Board of Directors April 17, 2018

China IT News APP

Download China IT News APP

Please rate this news

The average score will be displayed after you score.

Post comment

Do not see clearly? Click for a new code.

User comments