Can’t Jia Yueting build cars in China?

For LeTV, which is constantly in turmoil, everyone except debt collectors are speculating when Jia Yueting will return to China. On July 26, Zeng Qiang, the former second largest shareholder of LeTV and founding partner of Xingen Capital, told the Beijing News reporter, "I will meet Lao Jia in Los Angeles tomorrow afternoon."

On the evening of the 27th, Zeng Qiang wrote in his WeChat Moments about his visit to the FF (Faraday Future) headquarters in Los Angeles: “From batteries, motors, electronic controls, to vehicle assembly, collision avoidance, and everything. From the test drive to the interviews with core executives, I felt very shocked.”

He believes that the strategy, technology, team and products are all world-class. "I also better understand the source of Lao Jia's all-in gambling that left his family and career behind to become obsessed with cars," and "I hope Lao Jia will have the opportunity to make a comeback this time."

At this point, Jia Yueting has been in the United States for more than 3 weeks. This round of turmoil for LeTV companies has returned, far exceeding the financial crisis in November last year.

On July 3, the media reported that the Shanghai Sichuan North Branch of China Merchants Bank applied to the Shanghai Higher People’s Court for property preservation on June 26, 2017, freezing the bank deposits under the names of Jia Yueting and Gan Wei and some LeTV companies** *A total of RMB 1.237 billion, or other properties of equal value may be seized or detained. After the news was exposed, Jia Yueting went to the United States, which triggered a lot of speculation from the outside world. On July 6, LeTV announced the resignation of Chairman Jia Yueting and his resignation from the board of directors. At the same time, he nominated Sun Hongbin, Liang Jun, and Zhang Zhao as non-independent directors. LeTV’s Jia Yueting era is coming to an end.

Informed sources once revealed to the Beijing News reporter that Jia Yueting arrived in the United States on July 5. On the morning of July 6, Jia Yueting announced through public channels that he resigned from many important positions such as CEO of listed companies in order to go all out to achieve the fastest mass production of FF91. LeTV will still dedicate its best products to everyone. LeTV Auto will Expand according to established strategy.

On the afternoon of July 13, LeTV Holdings told a reporter from the Beijing News that Jia Yueting will return to China in the near future, "most likely within one or two weeks, and the specific time will depend on the progress of U.S. matters." If according to Calculated on July 13, July 27 is the two-week expiration date, and Jia Yueting is still "building cars" in the United States. (Jin Yu)

On August 28, there was a new version of the rumors about Jia Yueting, who has not yet returned to China. Recently, it was reported that Jia Yueting, transformed into a skateboard boy, will crowdfund and mass-produce a hybrid scooter called Scooterboard on August 29. At the same time, some people in the industry said that Jia Yueting has never actually gone to Hong Kong to raise funds. The two main things he is currently doing are applying for a green card to permanently reside in the United States, and the second is setting up a trust to preserve his property.

In response to this rumor, a reporter from Securities Daily immediately sought confirmation from LeTV. Cheng Shisheng, vice president of LeTV Holdings, said that the contents of both messages were seriously inaccurate. "Mr. Jia's claim of applying for a green card is purely a rumor. He has made it clear more than once that LeTV is a national brand rooted in China, he is a native Chinese entrepreneur, and he himself will always be Chinese." In response to the above irresponsible information, currently LeTV Holdings has taken corresponding legal measures.

The "Securities Daily" reporter exclusively learned that in order to negotiate financing, Jia Yueting arrived in Hong Kong on August 5 and flew to the United States on the evening of August 15, staying in Hong Kong for ten days. During Jia Yueting's visit to Hong Kong, many LeTV executives flew to Hong Kong to join him, and some people from Beijing also participated in the video conference. At the meeting, LeTV executives and Jia Yueting reported and made decisions on the business situation, and at the same time formulated a clear repayment plan for the debt issues of the unlisted system.

Not "going to the meeting alone"

Nineteen days ago, the issue of salary payment for employees in LeTV's unlisted system attracted nationwide attention. It was not until after 4 pm that day that LeTV Holdings finally determined that the wages and compensation of all current and resigned employees would be paid as scheduled. LeTV investors and company executives interviewed by the media used words such as "life and death speed" and "alliance under the city" to describe the tension and difficulty of raising employee wages in this round.

However, a few days ago, sources said that Jia Yueting did not negotiate for financing in Hong Kong, and the relevant news was “all fake news released by the trolls.”

In this regard, LeTV Holdings Vice President Cheng Shisheng said in an interview with a reporter from Securities Daily that this statement is by no means true and is purely a malicious fabrication. During Jia Yueting’s visit to Hong Kong, “many senior executives of the company immediately flew to Hong Kong to join us, and some people from Beijing also participated in the video conference.

"The meeting mainly included two aspects, one is to report and make decisions on the business situation, and the other is to formulate a clear repayment plan for the debt issues of the unlisted system.

A reporter from "Securities Daily" obtained this The flight itinerary confirmed Cheng Shisheng's statement. The flight information on the itinerary showed that Jia Yueting arrived in Hong Kong as early as August 5 and flew to the United States on the evening of August 15.

It is worth noting. , after Jia Yueting’s trip to Hong Kong, LeTV’s debt problem began to show signs of gradual resolution.

Recently, there was news that LeTV Finance will be merged into LeTV Network; Tongtian Wine Industry announced that it plans to acquire Wangjiu Network. 25.53% equity. Jubilee Technology also stated that it has signed a debt restructuring agreement with LeTV Mobile and acquired its 6.13% stake in Yidao for more than 300 million yuan.

Rebuking the "Skateboard Boy" rumor

Although Jia Yueting has not returned to China for a long time, there are constant rumors about him in the industry. Recently, the news that Jia Yueting applied for a green card and established an overseas trust to preserve his assets spread like wildfire.

"Mr. Jia has always been there. I have never applied for a US green card. Cheng Shisheng, vice president of LeTV Holdings, categorically denied the above news. "The belief that Mr. Jia repeatedly conveyed in internal meetings is that LeTV is a national brand rooted in China. He is a native Chinese entrepreneur and he will always be Chinese." ”

So, does Jia Yueting, who has always been accused of having no boundaries in business development, intend to transform into a “skateboard boy” and try to mass-produce a hybrid scooter called “Scooterboard” through crowdfunding? ? Cheng Shisheng denied the news. He said that Jia Yueting has publicly stated many times in the past that he will focus on building cars. He stayed in the United States to go all out to accelerate the advancement of the automotive ecosystem.

" Not long ago, LeTV Automobile just announced two high-level personnel adjustments: Zhang Hailiang was appointed as Vice Chairman and CEO of LeTV Automobile, and Gao Jingshen was appointed as COO of LeSEE LeTV Automobile China. A VP-level industry figure will join the company in the near future. The Scooterboard scooter is not a LeTV product, and LeTV has not participated in the Kickstarter campaign. "Cheng Shisheng said.

The tree wants to be quiet but the wind is not stopping. While LeTV is accelerating its debt resolution, various industry rumors about Jia Yueting and LeTV are also coming one after another.

Industry insiders believe Previously, Wang Lifen, the founder of Youmi.com, had called for the development of private entrepreneurs in China to be difficult. Entrepreneurs should learn from LeTV’s various problems and difficulties, and public opinion should give them reasonable time and space. But the reality is that no matter what. Is it Jia Yueting, who keeps starting a business and bets everything, or Guo Guangchang, who has a net worth of hundreds of billions, or Wang Jianlin, who has a net worth of hundreds of billions and is known as the father-in-law of the people, what is shown behind his unanimous plea to "do not believe in rumors and do not spread rumors". It is the powerlessness and helplessness of the big guys in facing the rumors.