Shulou(Shulou.com)11/24 Report--

CTOnews.com August 27 news, Recently, Beijing financial court ruled to grant enforcement of the CSRC against the executee Le.com 240 million yuan fine administrative penalty.

In response, LeEco issued an announcement: The road should be taken step by step to repay debts little by little:

At present, the company's first priority is to stabilize employees, and only when employees are stable can the company's business be stable. As for whether the company owes 12.2 billion yuan or 12.44 billion yuan due to historical reasons, all employees of the company will face it calmly. After all, the road is a step by step, debt is to pay back little by little. The stability of 400 employees means the stability of 400 families; the stability of 400 families means that the "small and micro society" composed of these 400 families is also stable; only by maintaining the stability of every enterprise in this "small and micro society" can we not disturb the stability of the country and the "big society."

LeEco made its last layoffs as early as the fourth quarter of 2019, and at the beginning of the epidemic in 2020, all employees reduced their salaries, implemented Ren's "cold to everyone" three years ahead of schedule, and began to "pursue profits and cash flow" and implement "survival as the most important program." Taking TV business as an example, compared with 2019, revenue decreased by more than 30%, gross profit increased by more than 60%, and gross profit margin increased from 14% to 35% in 2020; revenue decreased by 15% on average in 2021 and 2022, but gross profit remained basically unchanged, and financial position improved for three consecutive years.

The last sentence, in fact, only we know: "Immortal days are seen by others, sweat bitter water is swallowed by ourselves." "

CTOnews.com learned that on August 26, the Beijing court disclosed the administrative non-litigation execution ruling of China Securities Regulatory Commission and Letv Information Technology (Beijing) Co., Ltd., granting the CSRC to impose a fine of 240 million yuan on Letv.

China Securities Regulatory Commission said that on August 10,2020, China Securities Regulatory Commission served Letv. com with "Notice of Administrative Punishment and Market Prohibition in Advance." On March 26,2021, China Securities Regulatory Commission made a decision on administrative penalty related to the case and imposed a fine of 240 million yuan on Letv. com. On April 12, China Securities Regulatory Commission served the administrative penalty decision involved in the case to Letv. com. On December 23, the CSRC applied to the Beijing Financial Court for enforcement of an administrative penalty of 240 million yuan against Letv. com.

China Securities Regulatory Commission found out that Le.com had the following illegal facts: financial fraud from 2007 to 2016, failure to disclose related transactions as required, failure to disclose Le.com as guarantee matters of LeEco Holdings, failure to truthfully disclose Jia Yuefang and Jia Yueting's loan commitments to listed companies, and fraud caused by non-public issuance of shares in 2016.

The Beijing Financial Court held that the administrative penalty decision involved in the case imposed an administrative penalty of 240.6 million yuan on Letv. com. The facts were clear, the applicable laws and regulations were correct, and the procedure was legal. the sfc's enforcement application was therefore granted.

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