[Global Technology Reporter Zhou Tao] Yesterday afternoon, the new three board Hao Sheng Electronics issued an arbitration notice. Haosheng Electronics is the plaintiff and the defendant is LeTV Group. According to the announcement, the plaintiff and the defendant formed a creditor-debtor relationship due to the procurement business, and the defendant's payables to the plaintiff amounted to RMB 110.204 million and US$ 59.23 million. For the announcement, LeTV stated that there is no response to the content.
It is reported that the payment that LeTV is required to pay is divided into nine phases, and the first phase should be paid on December 11, 2016. The agreement also stipulated that "if any of the first-stage payments of Party A (Defendant I) is not paid on schedule, the subsequent payments under this Agreement shall be deemed to be immediately due."
According to the statistics, Haosheng Electronics was listed on the New Third Board on August 5, 2016. Its main business is the development, production, and sales of miniature electro-acoustic components such as micro-speakers/receivers and electro-acoustic components. The company's customers include Huaqin and Longqi. And LeTV, and other well-known consumer electronics manufacturers.
Industry insiders told Global Internet Technology that looking back at LeTV is not so much a continuous innovation as it has always been in the footsteps of people who are desperate to do what, hot mobile phones, set-top boxes, televisions, automobiles, finance, sports And so on. Heading into a brand new field, only to find strong players, like mobile phones, you can't do a better job in the industry. The talent and technology capital market is not one level better than your opponent, and the second-rate is stubborn.
According to incomplete statistics, in the mobile phone industry chain, the suppliers that have already disclosed LeTV’s arrears have included AAC Technologies (02018.HK), Compal Computers (2324.TW), and Truly International (00732.HK). Bao Computer announced on November 23, 2016 that Compal Computer had negotiated repayment plans with LeTV. LeTV was repaid on contract in mid-November and performed well.
LeTV's financial chain crisis has finally reached the legal level. Will a new paper arbitral request from the Third Third Board Company bring domino-style chain reaction?
LeTV "debt door"
Recently, rumours about LeTV’s arrears of up to RMB 10 billion in debts from suppliers have plagued China. An informed source in the supply chain who declined to be named stated that LeTV’s debt owed to suppliers is indeed on the scale of 10 billion. The suppliers include chip Fang Qualcomm, screen supplier Sharp, camera module provider Sunny Optical, and fingerprint touch. Control module Xin Li Semiconductor, Acoustics module Shang Ruisheng Technology, mobile phone foundry Fang Renbao computer, TV foundry TCL and other companies.
In response, LeTV issued a public statement stating that the company's business lines and suppliers have maintained a good relationship of cooperation, the business is running well, there is no case of arrears. The rumor that the stock price has fallen due to the huge amount of money owed by suppliers has no basis in fact and is irresponsible.
In November last year, Jiayue Ting sent an internal letter saying that the pace of development of the company is too fast. The pressure in the supply chain has increased dramatically in recent months, and the consistent funding problems have caused organizations and funds to face great challenges. In this 5,000-word internal letter, Jia Yueting acknowledged from the side that LeTV is facing the plight of the capital chain tension and said that LeTV is actively seeking a transformation.
Jia Yueting said in an exclusive interview, "TV's supply chain is no problem, the product is in short supply, has a good cash flow, and does not owe external suppliers money; but the mobile phone business does exist in arrears, we are doing our best to the fastest speed solve."
FF's first mass production electric car
At the 2017 International Consumer Electronics Show, LeTV’s strategic partner, Faraday Future, officially launched its first production car in Las Vegas.
The "World's First Internet Eco-electric Vehicle", named "FF91", has a cruising range of up to 700 kilometers on a single charge, and its 0 to 60 mph acceleration time is only 2.39 seconds, attracting millions. Human eyeballs. In fact, this conference was also considered to be the key to the confidence of LeTV and Faraday Future to win back the market.
Jia Yueting said that FF91 has many groundbreaking and subversive traditional imagination of the limit technology, configuration and performance. It represents the innovation and development of FF in sports performance, intelligence, interconnection and user experience. According to Nick Sampson, senior vice president of FF R&D and Engineering, FF has more than 1,400 employees worldwide and applied for 1,940 patents, 233 of which have been approved.
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