OFweek smart home network July 2 news, the reporter was informed that Foxconn affiliate Shenzhen Guan Ding has withdrew from LeTV to the new shareholders.
LeTV Zhixin is a holding subsidiary of LeTV, the listed platform of LeTV. It mainly hosts LeTV's smart TV business. LeTV Super TV was initially positioned as "double performance, half price". Based on the cost and even lower than the cost pricing model, LeTV Super TV soon became the "star player" in the color TV industry, and its market share rapidly expanded. According to the data, LeTV Super TVs sold about 300,000 units in 2013. By 2015, this figure has grown to 3 million units, and in 2016, it has reached the mainstream market with nearly 6 million units.
Based on the rapid expansion of LeTV, according to the resolution of the Board of Directors disclosed by LeTV.com on April 2, 2013, Shenzhen Guanding caused new investment to LeTV, and after the completion of the capital increase, Shenzhen Guanding took shares to 20% of the shares. This is the first time that Shenzhen Guanding appeared in the information disclosure of LeTV and LeTV New. The company is regarded as an affiliate of Foxconn. It is reported that LeTV has also signed an exclusive agreement with Foxconn. According to the agreement, Chairman Guo Jianming of Foxconn could no longer manufacture smart TVs for other Internet companies in Mainland China.
However, although LeTV’s rapid expansion has captured a large number of users, it has also caused LeTV a large financial gap. Levision's 2016 financial report showed that LeTV's operating revenue in 2016 was 21.9 billion yuan, a year-on-year increase of 68.64%; net profit attributable to shareholders of listed companies was down 3.19% year-on-year, which was the first time in eight years that profits declined. According to LeTV, the early stage super TVs mainly used high-level configuration, high performance, and quick acquisition of users to subvert the price, which caused the company's operating profit to decrease year-on-year.
As LeTV continued to be exposed to the financial crisis, Shenzhen Guanding was no longer in Lexus' new shareholder list since 2016. On December 21, 2015, LeTV.com referred to Shenzhen Guanding for the last time in “Jindu Law Firm’s Legal Opinion on Major Asset Purchaseâ€. Since then, Shenzhen Guanding has not been seen in the open information disclosure of LeTV.
According to data from Ove Cloud Network, from January to April 2017, the number of LeTVs shipped by Foxconn was only 6,600, 3,200, 7,200, and 4,500. Dong Min, vice president of Ove Cloud Network, revealed that Foxconn currently has LeTV shipping, which may be the previous inventory.
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