Leshi faces 0m unpaid debt suits

Updated 2017-08-29 10:00:38 Shanghai Daily

Leshi Internet Information & Technology Co, the listed firm of debt-laden LeEco, said yesterday it is involved in 33 ongoing lawsuits worth over 1.62 billion yuan (0 million) in unpaid debts.

Shenzhen-listed Leshi has halted trading of its shares for several months since LeEco was found to lack capital needed to run its business in online video, TV, smart phone, film production and new energy car.

Thirty-three companies, including publishers and electronic component suppliers such as state-owned Zhejiang Radio & TV Group and Taiwan-based Compal, have sued Leshi for unpaid debts, which amounted to 1.60 billion yuan and .73 million.

Leshi posted a loss of 640 million yuan in the first half, a reversal from a profit of 280 million yuan a year ago, it said.

In January, cash-strapped LeEco secured a US.2 billion investment from a group led by property developer Sunac China Holdings.

Leshi and its new investor pleaded with suppliers and investors for "more time to repay debts and a rebound in business," the company said last month.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 21 2017 09:25:20

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 21 2017 09:25:20

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 21 2017 09:25:20

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords