[Global Network Technology Report] LeTV Sports announced the progress of the B+ round of financing. Some of the old and new shareholders of Le Sports and the subsidiaries of Sino-Italian Ningbo Ecological Park have confirmed their participation in the B+ round. The valuation after the investment reached 24 billion yuan. For the specific financing amount and scale, Le Sports CEO Lei Zhenjian did not disclose on the scene, only said LeTV's investment in this round of financing after the valuation of 24 billion yuan, the pre-investment valuation of 21.5 billion yuan. At the same time, the eight core shareholders represented by HNA Capital, Zhongze Culture, Pusi Investment, Pingyin Energy, Orient Huifu, Xinyi Capital, Yunfeng Fund and individual shareholders, and management representative Lei Zhenjian, a total of 9 The composition of the LeTV Sports Strategic Development Committee was announced and established to support the company's upgrade and transformation. The LeTV Sports Strategy Development Committee consists of the Development Planning Committee, the Financial Supervision Committee, the Financial Advisory Committee, the Press and Publication Committee, the Risk Prevention and Control Committee and the Secretariat. The Yunfeng Fund, HNA Capital, Yikai Capital, and Oriental Huifu and Xinyi Capital And Pusi Investment, Pingyinengeng Mine and Zhongze Culture led the formation. The secretariat will send representatives to Levision Sports Beijing and LeTV Sports Hong Kong. The committee will assist the shareholders' meeting and the board of directors and provide important support for the company during the critical period of the company's upgrade and transformation. The committee will perform the company's strategic development decision-making, day-to-day work supervision and financial supervision and other auxiliary duties to ensure the company's independent operations, and promptly urge the company to properly handle the receivables due. According to Chen Chen, the representative of LeTV Sports, “Lokse Sports is an Internet company with innovative genes. It has grown into the best company in the industry in just three years. Such companies should be supported. At the crucial moment of the upgrade and transformation of the music, our shareholders Will fight side by side with management to support and help the development of the music." Chen Chen also stated that before LeTV's governance structure, there was still a chronic illness in the Internet industry under the new economy. The strategic development committee led by the core shareholders was to make LeTV more efficient and standardized in management. To ensure the steady and rapid development of the company and to avoid risks that should not arise. In addition, under the financing agreement, the subordinate fund of Sino-Italian Ningbo Ecological Park will participate in the increase of investment in LeTV Sports B+. Among them, the high-quality comprehensive construction land for the Leshi Sports Town project is the main asset of the capital increase. It is understood that the planned Leshi sports town is located between Shanghai, Hangzhou and Ningbo. Leshi Sports CEO Lei Zhenjian stated that LeTV Sports will do its utmost to do a good job in the sports town. “We will tilt the team’s core capabilities and resources. Build Leshi sports town, hoping to explore a successful model, and copy it to other regions, expand the sports consumer population, and promote the sports industry to upgrade." In addition to building a sports town, LeSports also plans to relocate its headquarters to Sino-Italian Ningbo Ecological Park. Sino-Italian Ningbo Ecological Park is one of the eight national-level ecological parks in China. It will formulate special policies to support the project and enjoy the support of LeTV Sports' upgrade and transformation. A series of preferential policies will further stimulate the development of the local sports industry. At the end of 2016, LeTV Sports proposed to enter the 2.0 development stage, from the four business segments to three major business groups, including new media and online business groups, offline business groups and sports consumer business groups. The objectives of the three major business groups are to create online sports crowd entrances, offline sports crowd entrances and sports consumer entrances. At the same time, the management of LeTV Sports, headed by Lei Zhenjian, announced that it officially launched the management’s capital increase plan and will increase its holdings in the company’s shares. Some of the old shareholders will also follow LeTV Sports Management’s management to acquire a portion of the equity of the original relevant shareholders. The increase in shareholdings will be used for the company's subsequent business development. It is understood that the management's capital increase plan has been launched, but the specific details of the acquisition are still being negotiated. Leshi Sports stated that after the management team has made a clear progress in capital increase, it will communicate with public opinion in a timely manner. It is reported that since the explosion of the music chain outbreak in November 2016, LeSports has continued to face a tight financial situation, resulting in the loss of important copyright cooperation such as the China Super League and the Asian Football Association.
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Lei Zhenjian introduced that LeTV Sports' new media and online business group's goals for the next phase are still focused on expanding the number of users and the number of members. As one of the seven ecology of LeTV, LeTV Sports will give LeTV’s ecological screen Small screen users, as well as all sports enthusiasts, provide more abundant products and services, including live events, short videos, graphic information, and self-media, and strive to build a link platform for aggregating multiple sports services in an effort to serve users. Create more value. In terms of copyright procurement, Lei Zhenjian said Le Sports will not give up the purchase of quality copyright, but will balance the reasonable input-output ratio. In terms of business development, Lei Zhenjian stated that the goals of LeSports New Media and Online Business Group in the next phase are still focused on expanding the number of users and the number of members. In terms of copyright procurement, Lei Zhenjian said Le Sports will not give up the purchase of quality copyright, but will balance the reasonable input-output ratio.
October 19, 2022