Beijing Securities Regulatory Bureau ordered Jia Yueting to return home to perform his duties, saying the impact was extremely bad

Image Source: Oriental IC

" Lao Lai "Jia Yueting, the CSRC calls you to return home and repeat your duties!

the Chinese reporter of the securities firm recently learned that the Beijing regulatory bureau of the China Securities Regulatory Commission (hereinafter referred to as" the Beijing Bureau ") today issued a" Notice of the Beijing Securities Regulatory Bureau on ordering Jia Yueting to return home and repeat his responsibilities ", requiring Jia to return home and repeat his responsibilities before December 31, cooperate to solve LETV problems, dispose of risks, and protect the interests of investors.

in this case, the CSRC has repeatedly used regulatory means to" shout "Jia Yueting's return; in that case, Jia Yueting and his wife were leisurely spending Christmas in the United States, and also shouted" Merry Christmas all ffer ". It is unclear whether Jia Yueting's American" car dream "can bear the interests of tens of thousands of A-share investors.

obviously, at this moment, Jia Yueting is silent in the joy of Christmas.

the ridicule of the big guys on the Internet is getting more and more lively, such as: Liu qiangdong, who doesn't know his wife's beauty; regret to create Ali jackma; Wang Jianlin, who has nothing; Ma Huateng, who has an ordinary family background; Jia Yueting, who returns home next week... Jia Yueting, who returns home next week, you really come back!

the CSRC has repeatedly sent regulatory letters urging Jia Yueting to return home

today, on Christmas day, Jia Yueting, who has not appeared for a long time, appeared on his microblog and once again posted photos containing all the employees and equipment plants suspected of FF Faraday in the future, which seemed to announce that the ff91 car building plan was going on normally. Jia Yueting's microblog text: Merry Christmas all ffer! According to insiders, Jia Yueting's wife Gan Wei also appeared in the United States.

it seems that they don't know that the" car dream "and the" Cowherd and Weaver Girl "husband and wife are finally reunited. The Beijing Bureau of the China Securities Regulatory Commission also issued a notice today that Jia Yueting, as the defendant, was once again asked to return home and repeatedly blamed.

the notice points out that recently, the listed company LETV information technology (Beijing) Co., Ltd. (hereinafter referred to as" LETV ") and LETV are related companies with operating difficulties. As the actual controller and former chairman of LETV, Jia Yueting failed to fulfill the commitment of the listed company to provide interest free loans when the company was in urgent need of funds, and the Beijing Bureau has issued a notice against Jia Yueting's breach of commitment According to the decision on ordering Jia Yueting to take corrective administrative and regulatory measures, up to now, Jia Yueting has not been able to fulfill his commitments and has not submitted a rectification report to the Beijing Bureau

On December 7, the Beijing Bureau issued a decision, pointing out that Jia Yueting made a commitment in May 2015 to lend all the funds from the reduction of LETV shares to listed companies as working capital, free of interest. In November 2017, Jia Yueting made it clear that he was unable to continue to fulfill his commitment to interest free loans of listed companies. Jia Yuefang made a commitment in December 2014 to lend all the funds from the reduction of LETV shares to listed companies as working capital, free of interest. However, in November 2017, it also made it clear that it was unable to continue to fulfill its commitment to interest free loans of listed companies

In this regard, the Beijing Bureau said that Jia Yueting and Jia Yuefang withdrew all the loans at the time of the listed company's operating difficulties, refused to fulfill their commitments, ignored the company's risks, seriously damaged the vital interests of the listed company and the majority of small and medium-sized investors, had a bad social impact, and had violated the relevant provisions of the CSRC. Therefore, according to relevant regulations, the Beijing Bureau decided to take regulatory measures to order Jia Yueting and Jia Yuefang to make corrections, requiring them to issue a written rectification report on the above violations, which includes but is not limited to: the understanding of the existing problems, the specific rectification measures taken, the reasons for the problems that have not been rectified, the follow-up rectification plan, the rectification period, etc

LETV said that after receiving the above two letters of decision, the company has sent the letter of decision to Jia Yueting and Jia Yuefang by email today, and will confirm its delivery

However, today, more than half a month has passed, and Jia Yueting turned a deaf ear to this decision

The notice stressed that the Beijing Bureau had issued a "letter of concern on the supervision of Jia Yueting" to Jia Yueting on September 13, 2017, clearly requiring Jia Yueting to return home immediately after seeing the document and safely handle the various risks faced by the company. Since then, it has also conveyed to Jia Yueting through listed companies its repeated requests for returning home, but so far no relevant action has been taken by Jia Yueting. Jia Yueting stayed abroad on the grounds of investing in automotive business and financing, The related companies controlled by Jia Yueting have huge debts to the listed companies, which have not been repaid so far. The related behaviors have seriously infringed on the legitimate rights and interests of the listed companies and the vital interests of the majority of investors, and the social impact is extremely bad

In order to protect the legitimate rights and interests of listed companies and investors, the Beijing bureau now orders Jia Yueting to return home before December 31, 2017, earnestly perform the obligations of the actual controller of the company, cooperate to solve the company's problems, safely dispose of the company's risks, and effectively protect the legitimate rights and interests of investors

Although it's not time to make a final decision about LETV and Jia Yueting. However, Jia Yueting must be responsible for the commitment to borrow money. The existing guidelines for the supervision of listed companies regulate the relevant commitments and performance of listed companies. As the director, supervisor and senior manager of the company, he must be responsible for all shareholders of the company. The regulators repeatedly ordered Jia Yueting to return home and repeatedly blamed him. But he didn't care. He didn't act or say anything. His commitment was like a piece of empty news. He ignored the interests of investors and even spent Christmas abroad. Many netizens said that "Jia Yueting's heart is really strong", and some netizens asked for "debt repayment"

Will you return home before the end of the year

Jia Yueting, who once promised to "be responsible to the end", flew to the United States on July 4 and said that he would "return home next week". Investors looked forward to it. Previously, Jia Yueting went to the United States alone, and his wife and children were at home. At that time, this was considered to be proof that Jia Yueting would return home in the future. Now Gan Wei has gone to the United States, and when Jia Yueting will return home is a mystery. Not long ago, Beijing LeYang film and television media, with Gan Wei as the chairman, was also publicly recruiting "Chairman's life assistant (English direction)" to be responsible for children's English counseling, with a monthly salary of up to 8001-10000 yuan

according to the information about Jia Yueting's FF auto financing disclosed on the Internet, some media said that he was still running around the United States for financing. Some people said that he had successfully raised billions of dollars, and others said that Jia Yueting ran into a wall everywhere in the United States and didn't get a penny. It's unclear how Jia Yueting's dream of building a car was. But investors who invested in LETV and regulators urgently need Jia Yueting to return home.

in addition to the China Securities Regulatory Commission, just a few days ago, Jia Yueting was just included in the list of dishonest Executees by the Beijing third intermediate people's court. This is the fourth time Jia Yueting has been included in the list of Executees. Jia Yueting has become a veritable" Lao Lai ".

Jia Yueting data map.

the surprise of investors is that Gan Wei, who said a few days ago that" the card can only be swiped for 2000 yuan ", turned around and hired an English oriented life assistant with a monthly salary of 10000 yuan in the name of the company, who was responsible for the children's learning status, document translation, etc. at the same time, she was also recruiting tutors and English assistants.

Jia Yueting, who owes a lot of debt, seems to have little impact on his personal and family life in terms of financial status.

the rise and fall of LETV

history is always" willful "forward, and time is more like a naughty child, returning memories to their original form. A year ago, Jia Yueting announced in high spirits that his" car making dream "was about to come true. He said that he had designed the appearance mode of the super car concept car Lesee pro, and he drove the car to the stage. How cool it was, but this dream still failed to come true.

the fates of LETV and Jia Yueting, the Star Internet company and the Chinese version of" jabbs "have all changed 180 degrees. A year ago, the person with unlimited scenery on the stage fell to the bottom in December 2017.

when leeco just landed in the A-share market, it created many wealth myths on the gem, which attracted countless investors to cheer for Jia Yueting. The press conference and PPT were" booming ", causing great social attention. From the initial field of Internet video and television, it gradually entered the seven ecosystems of Internet, content, large screen, mobile phone, sports, automobile, and Internet finance.

flush Ifind shows that from 2015 to 2016, nine securities companies released 44 LETV research reports, all of which were recommended to buy except for nine neutral or non rated ones, and none of the analysts suggested selling LETV shares. In June 2016, liaoxufa, an analyst at Goldman Sachs Gaohua, a subsidiary of Goldman Sachs in China, wrote a summary of the Research Report:" LETV: not only China's Netflix ecosystem has advantages; join the strong buy list. " 。 Not only the seller's analysts are happy to hold LETV's ecological story, funds, insurance and private placement are also buying LETV shares. At the end of 2016, more than 150 funds held LETV shares worth 3.5 billion yuan

However, everything came too soon. On November 6, 2016, Jia Yueting sent an open letter saying that the company burned too much money and spent more than 10 billion of its own funds on auto projects, which may lead to the fracture of the company's capital chain

In fact, in the second half of 2016, Jia Yueting has quietly withdrawn 3.4 billion yuan he lent to the company while raising funds everywhere and encouraging senior executives to pledge shares in exchange for cash. According to the 2016 annual report, LETV, which is ostensibly in the best financial position, has 5.2 billion yuan of debt that will expire in 2017. This 5.2 billion yuan is only money owed to financial institutions, not including payments owed to suppliers

In January 2017, rongchuang brought LETV an investment of 15billion yuan. Sunhongbin, the founder and chairman of rongchuang, gave these money to three businesses that he thought were more valuable: LETV, LETV Zhixin and LETV film

This is a risky bargain hunting investment. Sun Hongbin said at the investment press conference that the senior executives of rongchuang, including the chief financial officer, do not approve of this investment. "I don't trust Jia Yueting very much. One of the investment conditions is the stationing of financial managers and monitoring, which limits the expenses of LETV's car and mobile phone businesses."

LETV, which got the money, soon resumed trading. For example, there were not a few investors who came to bargain hunting by sunhongbin. After the resumption of trading, LETV added 8387 shareholders, and there were 180000 shareholders when the trading was suspended for a long time again in April

However, the negative news has not stopped: the founder of LETV automobile resigned, LETV sports was cut off because of copyright fees, all major events were broadcast live, the founder of the affiliated company Yi Zhi publicly said that LETV misappropriated 1.3 billion loans to build cars, and the affiliated company was sued for defaulting on loans...