LETV annual report postponed losses or exceeded 11 billion 600 million, becoming a new loss king.

category:Internet
 LETV annual report postponed losses or exceeded 11 billion 600 million, becoming a new loss king.


In the announcement, the music network disclosure, the present audit results have not been issued, the current report is issued the possibility of non - standard opinion, please take the final audit results. In 2016, LETVs annual report was issued with unreserved opinions with emphasis on matters. According to the 2017 annual performance report that was disclosed in February this year, the operating revenue of music network was 7 billion 463 million yuan last year, 66.06% of the year-on-year decline, and the net profit attributable to the shareholders of listed companies was 11 billion 608 million yuan, and 2192.53% fell from the same year. According to the statistics of Shun Tong, up to 18 when the latest disclosure yesterday, the current *ST oil wear to 10 billion 500 million yuan temporarily into the 2017 A share loss king, still want to reduce the profitability of the music network seems to take over the seat of *ST oil clothing, to become a new loss King. As of 25 days closing, LETV fell 4.86%, reported 4.7 yuan, the same day amplitude 5.47%, hand change 7.42%. After the express of 11 billion 600 million, the music network to reduce the performance Music network 24 evening announcement said that the company was scheduled to disclose the annual report of 2017 in April 25th, because the current audit work is still in progress, the company has not yet obtained the audit report of the year 2017, is expected to not be disclosed on time, will be postponed to the disclosure in April 27th. At present, based on the results of the present audit work, the companys net profit loss in 2017 may be further expanded and the company does not have the condition of listing without the negative net assets. Prior to January, LETV replaced the accounting firm responsible for the annual audit of 2017, from Xin Yong Zhong to Li Xin. According to the 2017 annual performance bulletin disclosed by LETV in February this year, LETVs net profit attributable to shareholders of listed companies was 11 billion 608 million yuan in 2017. In the first three quarters of 2017, its loss was 1 billion 650 million yuan, so that in the fourth quarter of 2017, LETV lost nearly ten billion yuan. At the time, music network said in the performance express that about 4 billion 400 million yuan of related party receivables were prepared to prepare for bad debts and about 3 billion 500 million yuan for long-term asset reduction. The outside world believes that the move or Sun Hongbins one-time clearance music vision network has been multiple negative. On the news side, recently, Lok Rongs new (former Xinle intelligent home) moves continuously, but there is still uncertainty in the frequent good news. Tencent, Jingdong, Suning sports, TCL and other companies have reached new investment intentions, such as Tencent, Jingdong, Suning sports, and other companies. Take a vacation. The reporter noted that in March 30th of this year, the Shenzhen Stock Exchange asked for a letter of inquiry on the music vision network, requiring it to explain the implementation of the 2017 annual asset impairment loss plan, and asked the music network to list the balance of accounts receivable, accounts receivable according to the age of the company by the end of 2017, the balance of the accounts receivable and the related parties. Accounts receivable account for the proportion of total accounts receivable, the situation at present, the amount of overdue return, and the recovery of the accounts receivable account for the adequacy of the reduction preparation. We must continue to supervise institutions and accountants for verification and make clear opinions. In addition, it is required to show the companys long-term asset details, the final account balance, the amount of the impairment loss of the assets, and the adequacy of the reduction plan by the end of 2017. In this regard, the annual report, in charge of the audit of the annual report, said that the total amount of the 2017 annual subtraction of the company and the companys February 27, 2018 2017 annual performance express related parties should be prepared for bad accounts receivable and the total amount of long-term asset impairment preparation. The final deduction will be based on the audit results. The possibility of non - standard in the annual report of 2017 The latest announcement recalling that the board of directors and the board of supervisors, held in January 8th, examined and passed the bill on the change of accounting firms, and hired the CPA firm to act as the companys audit institution. According to the previous announcement, the original audit institution was Xin Yong Zhong accounting firm, which has continuously provided audit services for more than two years. With regard to the annual report of the 2016 year of music vision network, the unreserved opinions with emphasis on the items have been issued around the related transactions, and the investors are reminded to pay attention to the explanatory notes. According to a net earlier news, in the daily related transactions, the music network is only up to 9 billion 89 million yuan for the Jia Yueting control company to sell goods and services and provide financial services. As the account receivable accounts for a higher proportion of the total amount of the total, there is a risk of recovery, which is the ultimate cause of its audit report with an unreserved opinion with a section of emphasis. However, the accounts receivable of the related party has not yet been resolved smoothly. According to the situation previously announced, the net profit loss of music network may expand, and music as the receivable account receivable of the related party is not good or one of the reasons. According to the announcement of the music network earlier this month, by the end of 2017, the accounts receivable account balance of the company was 7 billion 181 million yuan and the balance of the related party accounts receivable was 4 billion 726 million yuan, accounting for 65.81%. From the return situation, the receivable return of the receivable was 18 million 116 thousand and 200 yuan at the end of the 2017 period, and the related party receivable back money was only 67 thousand and 900. According to the unlisted system of music vision, according to the announcement in the early April, three debt schemes have been reached, involving music vision finance, electronic commerce and auction of new equity repayment. However, according to the announcement, most of the affiliated parties of the unlisted system are insolvent and do not have the basic solvency ability. Whether the accounts receivable can be recovered can be recouted. And whether this annual report will be issued again non - standard? According to the announcement by LETV, it is possible for the current report to be issued with non standard opinions. Correlation The company has been prosecuted for the total amount of 3 billion 300 million The bulletin on the basic situation of cases of cumulative litigation and arbitration published by the music network shows that there are up to 198 cases of the prosecution of the company, most of which are still in the lawsuit, and a few cases have been completed or withdrawn. The prosecution companies include Iqiyi, international business machines (China) Limited, Beijing SF EXPRESS, Hunan Golden Eagle cartoon Co., Ltd. According to LETV, the company has not yet heard the ruling in most cases of prosecution. According to the announcement, music network as the plaintiff involved in the litigation, arbitration in the total amount of RMB 244 million yuan (including the original to tell the amount of compensation, liquidated damages, lawyer fees and other costs); the company was prosecuted for the total amount of RMB 3 billion 300 million yuan (including the original to ask for compensation, liquidated damages, lawyers fees and other costs. ), $53 million 760 thousand dollars. In January of this year, Iqiyi complained about unfair competition and claimed 5 million of the case in Haidian, Beijing. Before, the video public was called the Chinese hip-hop was the Chinese small watermelon compared with the original. Iqiyi thought this behavior caused the Iqiyi market share to diverge, and caused the serious loss to the Iqiyi investment and the program brand. Analysis Whether or not a new salted fish can be turned over by music In April 24th, LETV announced that the new partnership with the Jingdong signed the strategic business cooperation agreement. This is after the cooperation with Tencent, Lok Rong has brought new cooperation with another Internet giant. In the cooperation agreement with the Jingdong, the two sides agreed to cooperate with the Jingdong in the business field, the field of member accounts, the advertising system, the logistics, the voice technology, the new product procurement and the unbounded retail. Service users, share customer resources and service capabilities. Although the two parties have not disclosed specific details of the cooperation, it is worth noting that the cooperation of the Tencent has been focused on television business before the Tencent, and the cooperation with the Jingdong does not involve television business. We can see that music TV is trying to revive this business, said Liu Buchen, an appliance industry expert, but it is very difficult. This includes: music television itself has no production capacity, but because of credit problems, it is difficult to find a new Subcontractor; where is the sales channel after production? The line shop has been basically lost, the online sales purchasing power is not strong, the negative evaluation of music vision members will affect the online sales; music was once the first brand of Internet TV, but now it is not, the competition environment has changed. Public data showed that in 2015 and 2016, the sales of smart TV were 2 million 500 thousand and 4 million 300 thousand, and the 2017 sales target was set as 7 million, 8 million, but with the debt crisis, the sales of smart TV in the first three quarters of 2017 were only 1 million 130 thousand. Beijing News reporter Jiang Bo Ma Jing Yang Li source: Beijing News Editor in charge: Bai Xin _NT4464 We can see that music TV is trying to revive this business, said Liu Buchen, an appliance industry expert, but it is very difficult. This includes: music television itself has no production capacity, but because of credit problems, it is difficult to find a new Subcontractor; where is the sales channel after production? The line shop has been basically lost, the online sales purchasing power is not strong, the negative evaluation of music vision members will affect the online sales; music was once the first brand of Internet TV, but now it is not, the competition environment has changed. Public data showed that in 2015 and 2016, the sales of smart TV were 2 million 500 thousand and 4 million 300 thousand, and the 2017 sales target was set as 7 million, 8 million, but with the debt crisis, the sales of smart TV in the first three quarters of 2017 were only 1 million 130 thousand. New Beijing News reporter Jiang Bo Ma Jing Yang Li