Letv (300 104. SZ), which has been suspended for more than 9 months, recently heard the news that it is about to resume trading. 65438+ 10 17, the reporter learned from insiders of LeTV that LeTV will indeed resume trading in the near future. The exact date can't be completely determined, but he responded with the word "soon". The source said: At present, the board of directors of LeTV is also actively preparing for the resumption of trading, and the regulatory authorities are constantly promoting the resumption of trading of LeTV.
The person did not affirm the information circulating on the Internet that the company will resume trading in the next two weeks and will not resume trading immediately after the announcement. He said that the specific date and method of stock resumption are beyond the control of listed companies, and LeTV has not made an active request on the above matters.
However, Sun Hongbin, Chairman of Sunac China Board of Directors, and Jia Yueting, founder, chairman and CEO of LeEco LeTV Holdings, did not respond to the above questions. Letv's public relations department calls it "subject to the announcement".
According to market veterans' prediction, LeTV's share price is expected to make up for the decline after the resumption of trading, and the supporting role of restructuring LeTV's film industry on the share price is very limited unless LeTV introduces new investors and funds.
Letv is ready to resume trading.
Letv has made a series of preparations for resumption of trading before.
65438+ 10 9, letv announced that it planned to change the accounting firm.
On the evening of 654381October 2, Xinle Shizhijia, a subsidiary of LeTV, plans to acquire LeTV Mall and related resources, intellectual property rights and other assets at a price of 92.9 million yuan.
20 17 on the evening of April 16, LeTV.com announced that it planned to adjust its acquisition plan for letv, and its shares were suspended on April17. Based on the rising share price, LeTV's share price ended at the closing price of 15.33 yuan on April 4.
Five months later, LeTV did not complete the restructuring of LeTV as scheduled. 20171kloc-0/0, letv continued to suspend trading on the grounds that "this major asset restructuring involves major unprecedented matters".
Prior to this, LeTV also changed its name. On the evening of September 27th, LeTV announced that it planned to change its name to "New LeTV", and the stock code remained unchanged.
Up to now, LeTV has been suspended for 9 months, which has already exceeded the requirement that the suspension of listed companies should not exceed 6 months.
During this period, the disclosed progress is that the major shareholder of LeTV will change. 2065438+0717 On February 25th, LeTV announced that China (19 18) is a holding subsidiary of Tianjin Jiarui. HK), it is planned to increase the capital of LeTV. After the capital increase is completed, Tianjin Jiarui will become the largest shareholder of LeTV, holding 40.75%; Letv Holdings became the second largest shareholder of Letv Pictures, holding 16.36%.
The suspension of trading changed in September.
With the continuous fermentation and spread of the 20 17 letv crisis, all kinds of news are rampant, and it is estimated that all kinds of spectators have forgotten the suspension time of letv.
As mentioned above, the share price of LeTV ended at the closing price of 15.33 yuan on April 4.
Letv's share price can be temporarily unchanged due to the suspension of trading, but Letv has changed.
On May 2 1 of the same year, Jia Yueting resigned as the general manager of LeTV and was replaced by Liang Jun.
/kloc-In June of 0/3, the legal representative of LeTV Holdings was changed from Jia Yueting to Wu Meng, the supervisor of LeTV, a subsidiary of Jia Yueting. Wu Meng also succeeded Jia Yueting's sister Jia Fangyue as the manager of LeTV Holdings.
On June 26th, China Merchants Bank Shanghai Chuanbei Sub-branch filed an application for property preservation in Jia Yueting with Shanghai High Court.
On June 28th, LeTV held the 20 16 shareholders' meeting. Liu Shuqing and Lu Zheng, representatives of Sunac in LeTV, were elected as non-independent directors and independent directors, respectively, and obtained one-vote veto power from the board of directors of LeTV. This is also Jia Yueting's last public appearance in China.
On June 29th, the Shanghai Higher People's Court froze all the shares and dividends of LeTV Holdings in Sheng Da Science and Technology.
On July 3, the assets of Jia Yueting, his wife and Sanjiale TV Company of 65.438+23.7 billion yuan were exposed and were frozen by the judiciary last week. On the same day, it was revealed that six local courts had frozen LeTV's assets several times.
On July 4 th, according to the national enterprise credit information publicity system, LeTV recently pledged its equity and pledged 80% of its equity.
On July 5th, Jia Yueting appeared in the United States. On the same day, it was revealed that Jia Yueting had pledged almost all the equity of LeTV Pictures held by LeTV Holdings to Sunac, a subsidiary of Sun Hongbin.
On July 6th, Jia Yueting announced in Weibo that he would take full responsibility for LeTV employees, users, customers and investors. However, in the evening, Jia Yueting resigned from all positions of LeTV, including the chairman, and withdrew from the board of directors. The statement of taking responsibility did not last for a day, which attracted people's attention.
On July 27th, LeTV announced that it had received a notice from Jia Yueting, the controlling shareholder. As of that date, Jia Yueting directly held 5,654,380,200 shares of LeTV (accounting for 25.67% of the total share capital), all of which were frozen, while Jia Yueting directly held shares of LeTV and was to be frozen, accounting for 65,438+093.92% of the company's total share capital. Jia Yueting holds 65,438+065,438+0,946,5438+0.2 million shares (accounting for 0.60% of the total share capital) of the company through LeTV Holdings, all of which are frozen, and the number of people to be frozen accounts for 3.34% of the total share capital of the company.
On August 28th, LeTV released its semi-annual report. The company's revenue in the first half of the year was 5.579 billion yuan, a year-on-year decrease of 45%. The loss was 637 million yuan, a year-on-year decrease of 32.395438+0%.
On September 12, the Shenzhen Stock Exchange issued a letter of concern, expressing concern about the performance of the use commitment of the funds obtained by Jia Yueting in reducing its shareholding in LeTV, and asking LeTV and Jia Yueting to explain relevant issues. In addition, Jia Yueting had accurately recovered LeTV's loan before completely withdrawing from the management of LeTV. Shenzhen Stock Exchange requires LeTV to explain the repayment time, amount and reasons to Jia Yueting one by one.
On September 27th, LeTV officially announced that it planned to change its name to "New LeTV", trying to draw a clear line with Jia Yueting and the original LeTV.
10 year 10 On October 26th, Sun Hongbin was exposed to carry out a "big cleaning" on LeTV, and many senior executives, including Liang Jun, CEO of LeTV, Ren Guanjun, senior vice president of marketing of LeTV, and Zhang Miao, CMO of LeTV, submitted their resignations.
65438+February 65438+May, LeTV officially announced that the board of directors of the company agreed to appoint Liu Shuqing as the general manager of the company and changed the legal representative of the company to Liu Shuqing.
At this point, LeTV has basically completed personnel changes, and LeTV has completely changed its surname from "Jia" to "Sun".
During the suspension period, the restructuring of LeTV was slow, which was related to the deterioration of the financial situation of Jia Yueting, the founder of LeTV, the decline of LeTV's operating conditions and the freezing of LeTV's equity.
If the reorganization of LeTV is successful after the resumption of trading, the industry believes that LeTV's operating income accounts for a limited proportion, and it is a new business, and it is unlikely to have the ability to reverse LeTV's share price.
Fund forecast 13 daily limit.
When LeTV, which has been suspended for 9 months, resumes trading, investors are undoubtedly most concerned about the stock price after the resumption of trading.
Since the suspension of Letv, the fund companies holding Letv in heavy positions have lowered their valuations several times, and the latest valuation is as low as 3.9 1 yuan. Based on 15.33 yuan when LeTV was suspended after the fixed increase, the valuation of LeTV fell by nearly 75% after the resumption of trading, equivalent to 13 down limit.
The aforementioned insiders of LeTV told reporters that the sharp decline in LeTV's resumption of trading is an inevitable event, and the company has also made relevant preparations.
Shen Meng, executive director of chansons Capital, believes that Sunac has done its best to introduce new strategic investors during the suspension of LeTV, but the current situation is still not optimistic, because even if LeTV's share price continues to fall after the resumption of trading, it is a necessary process to release the accumulated negative interest.
Jia Yueting's pledged shares face liquidation risk.
Public Offering of Fund's heavy position lowered the valuation of LeTV's share price, causing market concerns. As there are a large number of pledged shares in LeTV, investors in Jia Yueting, Sun Hongbin and LeTV will face risks if the stock price breaks through the liquidation line, resulting in forced liquidation and sale.
According to the third quarter financial report of 20 17 published by letv, Jia Yueting, the largest shareholder, holds10.24 million shares, accounting for 25.67%. Among them, the pledge amount is 65.438+002 billion shares, accounting for 99.54% of the shares held by Jia Yueting. At the same time, all the shares of LeTV held by Jia Yueting were frozen.
Based on the closing price of LeTV before suspension 15.33 yuan/share, the market value of LeTV shares pledged by Jia Yueting reached15.6 billion yuan. If the latest valuation given by several public offerings is 3.9 1 yuan/share, the book value of Jia Yueting's pledged equity is only 4.004 billion yuan.
After the news of LeTV's resumption of trading came out, investors also paid special attention. A Public Offering of Fund manager told reporters that it is certain to make up for the decline after the resumption of trading. Regarding the statement that "there may be money to lick blood", he believes that "the risk of bargain-hunting is very high. This (LeTV stock) is a dead tiger, and it is difficult for someone to drag a' corpse' forward." He bluntly said, "Don't say that if you fall to 3 yuan, even if you fall to 3 cents, you won't be interested."
But some investors are waiting for opportunities.
Another investor interviewed by the reporter who currently holds the stock of LeTV said, "Although the current crisis of LeTV is heavy, the stock price will definitely have several daily limit after the resumption of trading, but I feel that the previous bad news has basically been released, and the strength of Boss Sun (Sun Hongbin) is still quite strong. I shouldn't let it go on forever. I plan to wait for a few daily limit before looking for an opportunity to try the bottom. "
Will the GEM be greatly impacted?
Letv will resume trading soon. As a former GEM heavyweight, once there is a continuous limit after the resumption of trading, can the GEM survive?
In order to prevent this risk, the regulatory authorities have already taken action. 20 17 12 18, Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. issued announcements and decided to adjust the sample stocks of Shenzhen Stock Exchange, Shenzhen Stock Exchange Index 100, Small and Medium Board Index, Growth Enterprise Market Index and Small and Medium Board Innovation Index on a regular basis. Among them, LeTV was "eliminated" by Shenzhen Stock Exchange, Shenzhen Stock Exchange 100 and Growth Enterprise Market.
This sample stock adjustment was officially implemented on the first trading day of June 20 18. Therefore, although the current GEM index continues to fall, the impact on the overall sector will be greatly reduced after the weight of LeTV has dropped significantly.
Shen Meng also analyzed that as the benchmark of the former GEM, if it continues to decline after the resumption of trading, it will definitely have a negative impact on the current weak GEM. But after all, the LeTV event has been fermented for a long time, and the market has digested the impact and will not drive the sector to continue to fall.
Letv shareholders: only learned the lesson.
About 9 months after the suspension, LeTV recently reported that it would resume trading, and some investors ridiculed it as "long time no see".
Since the suspension of trading in April last year, LeTV has been downgraded by the organization for three times, with only 3.9 1 yuan per share. Based on 15.33 yuan per share when LeTV was suspended after the fixed increase, the valuation of LeTV fell by nearly 75%, equivalent to 13 daily limit after the resumption of trading.
The pain of investors can be imagined. Some investors said, "This kind of stock is worse than the daily limit of the stock market crash." Some investors also mentioned that before the suspension, Man Cang was cheated by the founder of LeTV that the stock price would reach 100 yuan. During the suspension of trading, he accidentally bought another stock, but fortunately he paid it back.
Letv's share price has also reached a high point. After the end of 20 14, the stock price soared once, from the low point of 28.2 yuan on February 23 of that year to the highest point of 20 179.03 yuan on May 23. After too many ups and downs, investors now have to learn from their mistakes.