Sun Hongbin, who has served for three years and a half as chairman of LeTV, has been carrying out small-scale integration of LeTV's listing system (New LeTV) and has not made any major moves.
However, Sun Hongbin recently announced that the (new) LeTV business will soon start.
Recently, a new LeTV insider said in an interview: “Sun Hongbin has always been optimistic about LeTV's listing business and entertainment business. However, as the internal connected transactions have not been resolved, the new LeTV is difficult to carry out capital operations. However, Sun Hongbin Next, we will focus on the two businesses of LeTV."
The person also revealed to reporters: "This time, the new music as well as some well-known Internet companies have been in contact, but because LeTV has not resumed trading, the valuation of the various sectors is difficult to determine, external investors currently want to come in some difficulties."
External capital is still difficult to enter
Since Sun Hongbin became the head of LeTV's listing system, whether it had a big move on LeTV has caused speculation. And Sun Hongbin’s news of introducing new investors to the LeTV listing system has also been reported in the industry many times. However, they were eventually denied by LeTV.
The above-mentioned LeTV insiders also said: "Compared with the introduction of new investors, it is the company's top priority to get the new LeTV business back on track as soon as possible."
In fact, the outside world has always been looking forward to the new head of LeTV.
A person close to the new LeTV said to reporters: “Sun Hongbin is not short of funds. The key is to introduce high-quality long-term strategic investors to the new LeTV. At present, the whole new LeTV business is still not restored, LeTV has no resumption of trading, external Capital will not rush in at this time."
Affected by the crisis in the capital chain, LeTV is also losing money this year. Let the loss phenomenon turn for the better and eventually restore profitability, which is the first thing the new LeTV executives must do first.
The three quarterly news reports previously published by LeTV.com show that the company achieved operating income of 6.095 billion yuan in the third quarter of this year, a year-on-year drop of 63.67%; and net profit attributable to shareholders of listed companies was a loss of 1.652 billion yuan, a year-on-year decrease of 435.02%.
"At present, many of the company's businesses have not yet fully recovered, and the company's top management is trying its best to improve this status." The above LeTV internal sources said.
“Lao Sun’s current strategy should be to revitalize the basic business first. If it is necessary, it does not rule out the possibility of injecting some capital, which will also help the introduction of new capital. In the future, he still hopes that the various LeTV brands can develop independently.†According to sources.
Reboot core business soon
Recently, Sun Hongbin publicly stated that investing in LeTV is logical, and LeTV’s biggest problem is management issues. “This time, I didn’t do anything myself and focused on sorting out the equity. Now that the non-listed part of the equity structure has been sorted out, LeTV’s business immediately started.â€
A new LeTV insider revealed: “The logic of Sun Hongbin’s investment in LeTV is very clear: taking the film industry and content as the entry point, it will enter the big culture and big entertainment. This is a priority development business.â€
When Sun Hongbin spoke in public, he stated that the logic of LeTV is to invest in big culture and big entertainment. At that time, LeTV's account was also very clear. LeTV is a typical big culture, big entertainment field company, has a strong content production capabilities, in the context of future content more and more valuable, he firmly believes that investing in LeTV is logical.
Sun Hongbin said that it has changed the business model of LeTV, and now his hand has become a "shun", "the world is doing vertical integration, Apple began to vote for film and television, Amazon also began to vote to do In the future, the direction of the industry's development is vertical, the company must have its own IP, channels, content, and scenes, and LeTV, together with Sunac, Wanda, is an IP content channel and scene that can be used to benchmark Disney. Shangrongchuang and Wanda can form a good life for ordinary people. Buy a house first, go home and watch TV, watch TV, put our movies on TV, and then go out and play in Wanda City.â€
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