Music may lose its new control power, and it is also recovered from the 1 billion 400 million purchase of shares.

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 Music may lose its new control power, and it is also recovered from the 1 billion 400 million purchase of shares.


Chen Yuxi, a surging journalist

It seems to be a foregone conclusion that the new music is off the music watch network.

If the transfer of shares is completed after the auction, the new ownership structure of Lerong will undergo significant changes: Tianjin Jiarui will surpass Lerong to become the largest shareholder of Lerong, with the share proportion rising to 46.0507%, while Lerongs new ownership will remain 36.4046%, while Jia Yuetangs Lerong Holdings will be thorough. The new shareholders list will be released from the bottom.

Lerongzhixin is the main operator of Lerongzhixin TV business. Once Lerongzhixin loses its new controlling right, Lerongzhixin will become a subsidiary company of listed companies.

After the completion of the auction, Lok has created a new shareholding structure.

If Lerongzhixin is no longer included in the scope of consolidated statements of listed companies, it will have an impact on the scope of net assets, accounting treatment and business model of Lerongzhixin consolidated statements.

According to Le Video. com, combined with the amount of the final auction and Le Rongs new financial situation, the statement will have a certain impact on the net assets of Listed Companies in the scope of consolidated statements. However, considering the annual impairment and operating losses, the net assets of Listed Companies in the scope of consolidated statements still have a negative risk after auditing. This means that LETV still has the risk of being suspended from listing. Lerongzhis new statement has no direct impact on the cash flow of listed companies, and the net profit and cash flow generated after the disposal date will no longer be included in the merger scope.

In terms of business, according to the current business situation and development plan of the two sides, there is no fundamental change in the business operation of the company and the new cooperation mode between the company and Lerong, but there is the possibility of further adjustment of the cooperation mode between the two sides after the change in the proportion of new equity due to the ownership of Lerong.

According to the third quarter earnings report released by Lexus. com, the operating income of Lexus. com in the third quarter was 364 million yuan, down 34.24% from the same period last year. The net profit attributable to shareholders of listed companies was 385 million yuan, and the net assets attributable to shareholders of listed companies were already negative. For example, after auditing, the net assets of the company in 2018 were negative, according to Shenzhen. Chapter 13 of the GEM Stock Listing Rules of the Stock Exchange stipulates that the company appears the latest annual financial and accounting report shows that the audited net assets are negative at the end of that year, and the Shenzhen Stock Exchange may decide to suspend the listing of the companys shares.

Lothwells problem is not only losing the new equity interest of Lok. Xingen Capital, once the second shareholder of Lexin. It established Lexingen Merger and Acquisition Fund and Lexin Yun Special Equity Investment Fund with Lexin. However, the situation of these two funds is not clear.

However, since the establishment of the Xin Ji buyout fund, most of its projects have been in a state of loss. Its main investments include TCL Multimedia, Lexus Scenery, Cool Group, Shenzhen Super Multidimensional Technology and so on. At present, it has invested 3.425 billion yuan, excluding the total management fees paid to Shenzhen Lexus Xingen Merger and Acquisition Fund Management Co., Ltd. from 2016 to 2017 and the expected solid payment to priority partner Wuhu Gefei. Fixed income of 332 million yuan, as of August 31, 2018, Lexingen M&A Fund Book surplus of about 442 million yuan.

According to Lexingen, the book fund of Lexingen Merger and Acquisition Fund can no longer cover the expected daily expenses of the fund (about 300 million yuan per year), and according to the previous Partnership Agreement, Lexingen Merger and Acquisition Fund still has to bear the priority of 7.5% per year (when there is no sufficient cash in the fund account, it will be paid by inferior Lexingen subsidiaries). In addition, Le Video Networks, Le Video Holdings and Jia Yueting have promised to undertake the repurchase guarantee in accordance with 15% per year.

When compiling the third quarter report this year, Lexingen Securities Department found that the subject of money funds in the consolidated statement changed greatly on October 24. Through understanding the situation and inquiring relevant personnel, it was found that Shenzhen Lexingen Merger and Acquisition Fund Management Co., Ltd. (as the manager of Lexingen Merger and Acquisition Fund) had already been listed on September 25, 2018. The priority of the day is 300 million yuan.

To this end, on November 1, Lexingen announced that all partners of Lexingen Merger and Acquisition Fund held a partnership meeting and issued the PartnersMeeting Resolution. Based on the relevant agreements in the Forward Assignment Agreement and the Supplementary Agreement of the Forward Assignment Agreement, the supplementary agreement obtains all the investment principal of the priority partners. The expected fixed income returned by the priority limited partners (based on 7.5% of the paid-in capital per year) can be realized, and the priority limited partners receive 100 million yuan of the expected fixed income in 2018: Le Video Network can no longer fulfill the annual assignment obligation of 15% of the investment share of the priority limited partners; Priority Limited Partnership People give up the share of their priority contribution, 15% of the recovery and 5% of the excess earnings.

According to Le Video Network, the Partners Meeting Resolution essentially plays a role of reducing the debt of listed companies and relieving the pressure of capital turnover expenditure, which is beneficial to the interests of listed companies, and has no direct impact on the net assets of the company and the income of the scope of merger. The negotiation of PartnersMeeting Resolution reflects that the management of the company avoids the risk of delisting and bankruptcy of the listed company, which will inevitably trigger the listed company to fulfill its guarantee obligation in the first half of 2019, and then cause great losses to the listed company and investors.

Another announcement released on November 1 shows that recently received an application for arbitration sent by the Chongqing Arbitration Commission (applicant: Chongqing Strategic Emerging Industries Lexus Cloud Special Equity Investment Fund Partnership (Limited Partnership). The respondent is Lexus Network.

In February 2016, Le Siyun introduced the investor Chongqing Fund. Le Siyun Holdings (Beijing) Co., Ltd., Jia Yueting and Chongqing Fund signed the Equity Acquisition and Guarantee Contract. According to the Equity Acquisition and Guarantee Contract and the related Letter of Commitment, the company has joint and several guarantee liability. The repurchase amount is calculated as 1 billion RMB plus 15% of the annual single interest.

The application for the ruling of the Partnership of Lexinyun Special Equity Investment Fund (Limited Partnership) in Chongqing Strategic Emerging Industries is that the respondent is required to pay the amount of equity purchase to the applicant as stipulated in Article 1 of the Letter of Commitment and Article 2 of the Equity Acquisition and Guarantee Contract, which is RMB 1 as of September 25, 2018. 403 million yuan. Industry and commerce data show that the shareholders of Chongqing strategic emerging industries are ICBC Credit Suisse Investment Management Co., Ltd., Chongqing Strategic Emerging Industries Equity Investment Fund Partnership Co., Ltd. (Limited Partnership), and Beijing Jinyi Asset Management Center (Limited). Partnership) and Xingen Capital Associated Enterprise Chongqing Yufujin Yixingen Equity Investment Fund Management Co., Ltd. According to LETV, the case is still in the process of arbitration. In addition, according to the companys current understanding, the external security matters mentioned in this arbitration have not fulfilled the procedures of examination and approval, examination and signature stipulated in the articles of association of listed companies and relevant laws and regulations, and their legal effect is doubtful. Source: surging news editor: Qiao Jun Jing _NBJ11279

The application for the ruling of the Partnership of Lexinyun Special Equity Investment Fund (Limited Partnership) in Chongqing Strategic Emerging Industries is that the respondent is required to pay the amount of equity purchase to the applicant as stipulated in Article 1 of the Letter of Commitment and Article 2 of the Equity Acquisition and Guarantee Contract, which is RMB 1 as of September 25, 2018. 403 million yuan.

Industry and commerce data show that the shareholders of Chongqing strategic emerging industries are ICBC Credit Suisse Investment Management Co., Ltd., Chongqing Strategic Emerging Industries Equity Investment Fund Partnership Co., Ltd. (Limited Partnership), and Beijing Jinyi Asset Management Center (Limited). Partnership) and Xingen Capital Associated Enterprise Chongqing Yufujin Yixingen Equity Investment Fund Management Co., Ltd.

According to LETV, the case is still in the process of arbitration. In addition, according to the companys current understanding, the external security matters mentioned in this arbitration have not fulfilled the procedures of examination and approval, examination and signature stipulated in the articles of association of listed companies and relevant laws and regulations, and their legal effect is doubtful.