Although the indexes of the two cities fluctuated, the stock price of “Letv 3”, which was transferred to the “Old Third Board” market, rose every day. Since the “transfer board” price was calculated, it has nearly doubled.
The stock price and market value of LeTV surged, the root cause is the market for Jia Yueting and FF optimistic expectations. Jia Yueting has made it clear to LeTV shareholders that no more than 10% of the creditor trust has been reserved for contingent compensation to LeTV shareholders, which can be implemented after relevant legal procedures have been fulfilled, and a special team has been arranged to coordinate the compensation matters for LeTV shareholders.
“The bottomless pit” into a “cornucopia”?
“Where the Letv fell, where it picked up! The root cause of Letv’s fall is the bottomless pit of Faraday’s capital, and now the bottomless pit has become a cornucrine, from burning money to sucking gold.” This is a financial big V in the latest micro blog issued by the judgment.
That judgment seems to be echoed by the secondary market. LeTV Network 3 has been rising for 16 consecutive trading days since it was traded on the “Old Third Board” by means of collective bidding. From the delisting price of 0.18 yuan, the last listed share price of 0.34 yuan has nearly doubled.
The stock price surge also led to the rapid expansion of LeTV’s market value. Looking back, on July 20, 2020, LeTV, founded by Jia Yueting, announced that it would be delisted from the Shenzhen Stock Exchange on July 21, which marked the end of LeTV’s nearly 10-year listing journey and the official delisting. However, the closing price of LeTV was fixed at 0.18 yuan, leaving LeTV with a market value of over 160 billion yuan at that time, only 718 million yuan.
Since February 3rd this year, LeTV has transferred its shares in the Old Third Board by means of collective bidding. The price opened at 0.18 yuan that day, and since then it has risen by 0.01 yuan every day. Every little makes a mickle. Just over a month, Letv’s latest market value has exceeded 1.35 billion yuan.
As for the recent stock fluctuations, Letv has issued three notices of abnormal fluctuations in stock trading, but Letv claimed that the abnormal fluctuations in stock trading were caused by the independent trading of both parties on the trading platform, which was a market behavior. Company’s board of directors confirmed that no according to the national small and medium-sized enterprise stock transfer system network company and delisted company as stipulated in the interim measures on information disclosure and other relevant provisions should be disclosed and undisclosed matters or with the matters related to planning, negotiations, intent, protocols, etc., the board of directors also have not aware of the company according to the national small and medium-sized enterprise stock transfer system network company and delisted company as stipulated in the interim measures on information disclosure and other relevant provisions should be disclosed and undisclosed, a bigger impact on stock market price information.
Under the continuous rise, the sponsoring brokerage also issued a special stock trading risk advisory notice. China Merchants Securities makes it clear that the board of directors of Letv3 confirms that the company has no matters that should be disclosed but have not been disclosed or plans, negotiations, intentions and agreements related to this matter, and that the board of directors of Letv3 has not been informed that the company has information that should be disclosed but has not been disclosed and has a great impact on the stock trading price of the company. Investors should fully understand the risks in the stock market and the risk factors disclosed in the company’s periodic reports and interim announcements, make prudent decisions, invest rationally and pay attention to risks.
Why the surge?
In the first three quarters of 2020, LeTV recorded a 43% drop in revenue of 220 million yuan, while net profit attributable to the parent still suffered a loss of 960 million yuan. At the same time, the net asset of Letv was -15.3 billion yuan, declining 15% year on year again, and the insolvency dilemma was still difficult to solve.
And the news about Le TV network and its related parties has not cut off. On March 1 this year, Letv Network Information Technology (Beijing) Co., Ltd. added restricted high-consumption information. The execution court is the Beijing First Intermediate People’s Court and the associated object is Liu Yanfeng. The enterprise check risk information shows that Letv Network has 112 restricted high-consumption information. Net of China on March 4, according to the written judgment, released “le networks (Beijing) information technology co., LTD., with youku network technology (Beijing) co., LTD., the right of ownership, infringement trial of civil judgment”, Beijing haidian district court of first instance verdict le networks violated youku for the smile is the whole information network transmission right, ordered networks to compensate for youku 2 million yuan.
The fundamentals of the company have not improved, why has the stock price soared? The root cause is still closely related to the latest developments of Jia Yueting and FF.
In July 2020, Jia Yueting published a special article titled “Starting a Business by Working and Restarting Your Life with My Aogies, Gratitude and Commitment”, which was also the last article he published on WeChat ID. It stated, “I am fully aware of the heavy responsibility I shoulder and the pain my personal mistakes have brought to creditors, investors, LeTV shareholders, users, employees and your families. I must make an explanation to everyone and will never be a deserter.” Although in the past three years, I did not actually control and manage LeTV, I can only look at the current situation of LeTV and feel very worried. But I have never forgotten the shareholders of LeTV Network, and I feel the loss and disappointment of all of you. As the founder of the networks, I to the present situation of the networks, so after approved by my personal creditors’ committee, I’ve been reserved in the creditors trust the proportion of no more than 10%, mainly used for miniaturization: people or compensation, after to fulfill the relevant legal procedures that can be implemented, I also will arrange special team coordination networks people compensation matters. ”
Since March, the expectation of compensation for Leshi shareholders has been on the rise, especially with the continuous progress of FF, the expectation has been continuously strengthened.
article links：Does Jia Yueting really want to compensate shareholders?
Reprint indicated source：Shine Trader Limited Live information