What does Letv mean by delisting?

Letv's delisting means that Letv Information Technology (Beijing) Co., Ltd. (hereinafter referred to as "Letv") has terminated its listing qualification in China A-share market (namely Shanghai Stock Exchange or Shenzhen Stock Exchange).

Founded in 2004, LeTV is a company mainly engaged in online video services, including providing online viewing and downloading services of online TV, movies, TV dramas and other content. On 20 10, letv was listed on the gem of Shenzhen stock exchange and became a public listed company.

However, due to the company's internal management and financial problems, as well as market competition and other factors, the operating conditions of LeTV have gradually deteriorated. In 20 17, letv experienced a serious debt crisis, which led to further deterioration of the company's operating and financial conditions.

According to the relevant provisions of China's Securities Law, if a listed company commits major illegal acts or its financial situation deteriorates, the regulatory authorities can take delisting measures to protect the interests of investors. Therefore, LeTV was delisted from Shenzhen Stock Exchange in July 2020 and officially delisted.

After delisting, LeTV's shares will not be publicly traded on the stock exchange, but its shares still exist, and shareholders can transfer their shares by other means (such as private trading). However, because delisting usually means that the company is in poor operating condition, its stock value may drop sharply.

In short, the delisting of LeTV means that LeTV has lost its listing qualification in the A-share market and cannot be publicly traded on the Stock Exchange. This is usually caused by internal management and financial problems, market competition and other factors, which may adversely affect the interests of shareholders and investors.