The receiver of LETV assets is interesting.
Jingdong judicial auction platform information shows that on April 15, 85 patents held by LETV information technology (Beijing) Co., Ltd. were finally sold at the price of 899500 yuan after a one-day auctionP align = “center” Image Source: screenshot of Jingdong judicial auction
It is worth noting that the applicant Tianjin Jiarui Huixin Enterprise Management Co., Ltd. (hereinafter referred to as “Jiarui Huixin”) and the bidder Tianjin Zhirong Innovation Technology Development Co., Ltd. (hereinafter referred to as “Zhirong innovation”) are related, and both parties have close relations with LETV.
Previously, Jiarui Huixin twice bought LETV’s assets through Jingdong judicial auction platform. Once, in June 2020, it bought 1354 trademarks held by LETV for 131 million yuan, at a premium of thousands of times; The other was in April 2021, when it bought 580 trademarks held by LETV for 16.03 million yuan.
China Securities News reporter noted that Jiarui Huixin, who bought LETV assets twice, was a company under rongchuang earlier. In January 2017, rongchuang real estate invested 15 billion yuan in LETV’s related assets, but this investment was finally lost. Sun Hongbin, the actual controller of rongchuang, turned and left with a “willing gamble and admit defeat”. Rongchuang subsequently divested Jiarui Huixin in the form of zero consideration in june2020.
bidders with special background
According to the announcement of the auction platform, these 85 patents belong to relevant categories such as TV, computer, mobile phone, display and multimedia broadcasting, and are currently in the state of preservation suspension. The evaluation price of 85 patents is 1285000 yuan, the starting price is 899500 yuan, and the price increase is 8900 yuan. To participate in the auction, you need to pay a deposit of 89000 yuan.
Compared with the previous LETV equity auction, which attracted 10000 people’s attention, this auction was relatively cold, with only 2241 onlookers and 2 people signing up. Finally, it was announced that it was defeated only onceP align = “center” Image Source: screenshot of auction announcement
The applicant of this auction is actually related to the bidding buyer, and is also closely related to LETV. The announcement shows that the auction applicant is Jiarui Huixin, and the bidder Zhirong innovation is a grandson of LETV TV main body LETV Zhixin Electronic Technology (Tianjin) Co., Ltd. (hereinafter referred to as “LETV Zhixin”), while the largest shareholder of LETV Zhixin is Jiarui Huixin and the second largest shareholder is LETVP align = “center” Image Source: screenshot of auction announcement
Among them, Jiarui Huixin was a subsidiary of rongchuang earlier. LETV disclosed in October 2018 that rongchuang Real Estate Group Co., Ltd. actually controlled Jiarui Huixin through agreement. Coincidentally, the applicant of this auction is Jiarui Huixin, and the waiting party for asset freezing is rongchuang real estate.
Le Rong Zhi Xin held by Jiarui Huixin was once favored by rongchuang. Statistics show that at the end of 2018, rongchuang established rongchuang culture group, one of the four strategic sectors, based on the assets of Oriental film capital, Lerong Zhixin and letchuang entertainment, and sun Yiyi, the son of sun Hongbin, the actual controller of rongchuang, served as the president of the culture group.
However, it is intriguing that after 2020, rongchuang has cut Jiarui Huixin and Lerong Zhixin. In June of that year, Zhixin cloud, which had been established for only three months, transferred 100% equity of Jiarui Huixin held by Yingrui Huixin, a company under rongchuang, for 0 consideration. LETV subsequently said that there was no association between Zhixin cloud and rongchuang group and Yingrui Huixin, no other implicit relationship and no equity holding on behalf of others.
This time, the reason why LETV’s trademark assets will be put on the auction table stems from the arbitration award applied for enforcement by Jiarui Huixin.
Tianyancha shows that after the equity penetration of Zhixin cloud, the parent company of Jiarui Huixin, Liu Yanfeng, the current chairman of LETV, is an important shareholderP align = “center” by the end of the third quarter of 2021, LETV’s top ten shareholders
Jiarui Huixin is also an important shareholder of LETV. By the end of the third quarter of last year, Jiarui Huixin held 8.56% equity of LETV.
multiple assets auctioned
As a former gem Starlight Company, after the foam burst, the many assets of LETV were auctioned off one after another.
According to public information, 1354 trademarks and 580 trademarks owned by LETV were auctioned successively in June 2020 and April 2021, with transactions of 130 million yuan and 16.03 million yuan respectively.
On September 12, 2021, the online auction of 141 million LETV shares held by Jia Yuemin and Jia Yueting brothers ended. Finally, 141 million shares were divided into eight subjects, and 44.1 million shares of four subjects were auctioned, with the corresponding price of 829521 million yuan. The rest of the equity subjects were announced to be sold.
In November 2021, LETV building completed the auction with 573 million yuan. The only bidder was Beijing hengying Property Management Co., Ltd., which was established for only five days at that time. Taoyun capital said in a statement that the capital source of Beijing hengying Property Management Co., Ltd. is Zhongzhi company.
LETV, which delisted to the new third board, has lost its past glory. According to the company’s third quarterly report of 2021, the company’s revenue in the first three quarters of 2021 was 296 million yuan, a year-on-year increase of 33%; The net profit attributable to the parent company lost 162 million yuan, which narrowed 82.66% compared with the same period of the previous year.
