The first-instance verdict of LeTV is released: 2.04 billion yuan in compensation is required, and Jia Yueting bears joint liability for compensation

News from this site on September 22. According to the Securities Times, we learned from lawyers about the first-instance judgment of LeTV. According to the judgment of the Beijing Financial Court, the defendant LeTV Information Technology (Beijing) Co., Ltd. will be effective from the date of this judgment. Within ten days, a total of nearly 2.040 billion yuan was paid to the plaintiff investors for investment loss, commissions, stamp duties, etc.The report stated that

defendant Jia Yueting and defendant LeTV are jointly and severally liable for the losses suffered by the plaintiff investors

. As for intermediaries, the defendant Ping An Securities bears joint and several liability with the defendant LeTV within the scope of 10% of the losses of the plaintiff investors.According to the Securities Times quoted by this site, after the LeTV financial fraud case, the Shenzhen Securities Regulatory Bureau issued a prior notice of administrative regulatory measures to Ping An Securities, intending to order Ping An Securities to make corrections and suspend the qualifications of the sponsor for three In August, the sponsor representative of LeTV's IPO project and the then head of the sponsor business were identified as inappropriate personnel for 5-10 years, and other corresponding compliance business and other relevant personnel were subject to supervisory interviews and other measures.

In August last year, the Beijing Financial Court ruled to allow the enforcement of the China Securities Regulatory Commission’s administrative penalty of 240 million yuan in fines against the person subject to execution, LeTV.

In this regard, LeTV Video issued an announcement saying that "the road must be walked step by step and the debt must be repaid bit by bit":

The company's current top priority is employee stability, employee stability The company's business is stable. As for whether the company owes 12.2 billion or 12.44 billion due to historical reasons, all employees of the company will face it calmly. After all, the road is taken step by step, and the debt must be paid off bit by bit. 400 employees are stable, which means 400 families are stable; 400 families are stable, and the "small micro society" composed of these 400 families is also stable; only by maintaining the stability of every enterprise in this "small micro society" can we not give up. Adding to the chaos of the stable situation of the country and the "big society".

LeTV made its last layoff in the fourth quarter of 2019. At the beginning of the epidemic in 2020, it cut the salary of all employees. It implemented the "passing the cold to everyone" mentioned by Mr. Ren three years in advance, and began "Pursue profits and cash flow" and implement "survival as the main program." Taking the TV business as an example, in 2020 compared with 2019, revenue dropped by more than 30%, gross profit increased by more than 60%, and gross profit margin increased from 14% to 35%; in 2021 and 2022, the revenue scale dropped by an average of 15%. However, the gross profit amount has remained basically unchanged, and the financial situation has improved for three consecutive years.

In fact, only we ourselves know the last sentence: "The days of immortality are seen by others, and the sweat and bitterness are swallowed by ourselves."

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