On the evening of April 18th, LeTV.com announced the new LeTV Wisdom Replenishment Plan, confirming that TCL, JD.com, Suning and other companies will participate in the latest round of financing of New Lezhi. Industry insiders believe that if the new LeTV zhijia become a financial asset, Sun Hongbin, chairman of Sunac China, is also sensible to use his “friend networkâ€. But now that the dividend period of the Internet TV market has passed and traditional television regains its advantage, LeTV’s desire to return to the first camp will still face challenges.
Big names have joined shares
On the evening of April 18th, LeTV announced that it had recently made new progress in the new literacy plan for the new Lezhi Sensei through further communication and agreement between the company and investors. Up to now, the confirmed investors (signed capital increase agreement) and increased funds are as follows: LeTV has invested RMB 300 million in the existing credits; Tianjin Jiahui Huixin Enterprise Management Co., Ltd. (hereinafter referred to as “Tianjin Jiaruiâ€) Cash increased by 300 million yuan; Jiangsu Design Valley Technology Co., Ltd. increased capital by 240 million yuan of the existing claims.
The investors who have reached the investment intention (having not yet signed a formal agreement) and the planned increase in the amount of funds are: Linzhi Lichuang Information Technology Co., Ltd., Jiangsu Jingdong Bangeng Investment Management Co., Ltd., Suning Sports Culture Media Nanjing Co., Ltd. or its designated other entities, TCL Group Co., Ltd. or its holding subsidiaries, Shenzhen Haoyi Investment Co., Ltd. each plans to increase capital by 300 million yuan in cash; SEGA Holdings Group (Hangzhou) Co., Ltd. intends to increase 200 million yuan; Hongyi Hongxin (Shenzhen) equity investment fund partnership (Limited partnership) intends to increase capital by 0.5 billion yuan; Shenzhen Jinruixian Digital Technology Co., Ltd. uses its existing creditor's rights for 148,226,860,481 yuan and cash for 377.139.15 million yuan for a total investment of 150 million yuan.
According to Ding Shoujiang, Chief Editor of Nail Technology, for these investment companies, the investment in LeTV is not used for a large amount of money, and LeTV has established a foundation for a large-screen Internet platform, which still has potential investment value. The financial support is behind the support. Once the music TV is reactivated through resources such as funds and content, the future revenue will be very large.
Industrial watcher Hong Shibin believes: “These companies invest in new music as wise is very strategic. There are two directions for television development in the future. One is Internet TV, and the other is artificial intelligence. However, artificial intelligence is a very virtual thing. The content brought by Internet TV has practical utility, and the logic of free software hardware charges exists. These companies must recognize Lexus as an innovative business model, and now it seems that traditional TV manufacturers have earned a way to spread the price of hardware. Come to the head and need the injection of fresh blood." In addition, for JD.com and Suning, the future will not only become a channel for TV sales by LeTV, but also have room for cooperation in advertising and TV shopping.
"single flight" or a foregone conclusion
It is worth noting that prior to this capital increase, the shareholding structure of Xinlezhizhijia is 40.31% of the shares held by LeTV, 33.5% of Tianjin Jiarui, 18.38% of LeTV Holdings, and 7.81% of other shareholders. After the capital increase, the shareholding ratio of LeTV will be diluted. Based on the current intention to increase the capital, the shareholding of LeTV.com will drop to 33.4588% after the capital increase. It is still the largest shareholder. Tianjin Jiarui holds 28.2337% shares. As the second largest shareholder.
In addition, according to LeTV Announcement, the company has pledged 34.9398% of the total registered capital of New Lezhi Zhijia to Tianjin Jiarui and Sunac Real Estate Group Co., Ltd.; pledged 5.372% of the total registered capital of New Lezhi Zhijia to banks and trust companies. Other financial institutions. LeTV.com had disclosed in the announcement: “If the company is unable to repay on schedule after the expiration of this loan, the company’s pledged new Lezhi Wisdom shares will face the risk of possible judicial disposition.â€
On the evening of April 18th, LeTV.com acknowledged that the company currently has a large number of related party receivables that cannot be recovered, and major shareholders promised that the company’s borrowings cannot be put in place. The poor operation of foreign businesses and brand impacts have made it difficult for companies to apply for loans from new financial institutions and difficulties in renewing existing loans. The above problems have caused the company’s funding status to be unable to support daily operating expenses, and business operations have been unsustainable. The employees’ salaries cannot be issued on time. risks of.
In this case, if LeTV is unable to repay the loan, Tianjin Jiarui, a subsidiary of Sunac, will become the largest shareholder of New Lezhi. Tianjin Jia Rui is the main company that Rongchuang had originally invested in LeTV. The company was established on January 9, 2017, under the actual control of Sunac China Holdings Limited.
As a large part of LeTV’s investment in LeTV business, Sunac is still trying its best to save this business. Last month, Sun Hongbin did not hide the current status of LeTV’s insolvency in an interview. But at the same time, he also emphasized that “LeChuang Entertainment and Xin Le as Wisdom, we will all try our best to make it better, and LeTV is in the smart TV field. Still leading." Although the announcement stated that there is a possibility of adjusting the valuation and amount of funds in this investment intention, the final signed agreement shall prevail, but for the new Le Wisdom Wisdom, this financing means a turning point.
Resurrection still exists
New music as Wisdom, formerly known as LeTV New, is LeTV's main operating company. In the wake of the rise of Internet TV, LeTV has been among the first-line camps in the TV industry, moving forward with the average speed of launching a new TV every two months. As a "new" category characterized by a "soft-hard combination", LeTV has led the industry in a sluggish TV industry and has grown up against the trend. It is also said that LeTV has achieved the best development among several LeSonic eco-systems. From the previous 7.95 billion yuan into LeTV, it can also be seen that TV business is the main subject of Sunac.
Public data shows that in 2014-2016, LeTV sales were 1.5 million, 3 million and 6 million. On February 28th last year, at LeTV's "Spring Story" conference, when LeTV New President Liang Jun vowed to announce that LeTV's sales target in 2017 was set to "save 7 million units and compete for 8 million units." However, with the outbreak of LeTV’s debt crisis, LeTV’s brand has been seriously affected, and LeTV’s sales have also been declining.
The industry generally believes that if LeTV wants to return to the first camp, there are still many difficulties. The dividend period of the Internet TV market has passed, and traditional TV regains its advantage. According to data released by the China (13th) China Flat Panel TV Industry Conference in 2017, the overall share of Internet TV brands in 2017 has dropped to 10%. In mid-2016, this figure was once as high as 20%.
Is this financing able to save LeTV? According to a LeTV announcement, this capital increase can ease the tension of the new LeTV Wisdom and help restore the company and the new LeTV brand and reputation to achieve related business. Reactivate.
General Ding believes that TCL, JD.com, Suning, etc. investing in new LeTV zhijia will not only provide substantial support for LeTV as a fund, but more importantly it will provide important support in terms of brand and business resources.
In addition, in terms of content cooperation, the new music zhizhijia intends to sign a cooperation agreement with Tencent for an internet television cooperation project. New music as Wisdom and Tencent video both agreed that the development of living room content cooperation, Tencent video and television copyright content will be presented on LeTV, the two parties will be on the basis of the agreed ratio of LeTV on the video content through the Tencent video content generated by members, advertising and other commercial income Divide into groups. Some industry analysts believe that LeTV as the LeTV video terminal, cooperation with new content is the only way for retained users, but also in the dilemma of self-help. The introduction of Tencent video will inevitably enrich the content product portfolio provided by Super TV. However, once this cooperation model is reached, LeTV's video users will be substantially lost, and they will be collected as Tencent video users. LeTV's ecosystem will cease to exist.
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