On December 12, media reports said that Jia Yueting was listed on the list of defaulters. The cause of the incident was a dispute between Jia Yueting and Huafu Securities. Jia Yueting did not implement the payment obligations determined by the effective legal documents.
In response, the reporter learned that Jia Yueting has recently been listed in the list of untrustworthy executives for violating the property reporting system and not fulfilling all the obligations established by the effective legal documents. However, the securities company involved is not Huafu Securities, but Ping An Securities.
It is understood that Jia Yueting’s failure to perform the obligations determined by the effective legal documents includes: payment of initial transaction amount, interest, penalty for breach of contract, notary fees, and attorney’s fees to Pingan Securities Co., Ltd., totaling approximately 479.3 million yuan.
Jia Yueting was listed as the defaulter
According to the information on China’s implementation of the information disclosure network, Jia Yueting was included in the list of untrustworthy executives, and the enforcement court was the Beijing No. 3 Intermediate People’s Court. The execution was based on the document code of (2017) Xia Lu’s No. 00082, and the release date was December 11.
The legal documents disclosed by China’s enforcement information disclosure network also show that Jia Yueting’s case that was listed on the list of defaulters was related to Ping An Securities, and the filing date was September 28. There are four obligations of Jia Yueting’s legal documents to be fulfilled: 1. The initial transaction amount paid to Ping An Securities Co., Ltd. was RMB 462.1 million. Second, to Ping An Securities Co., Ltd. to pay interest 4,194,847 yuan. Third, the breach of contract payment to Ping An Securities Co., Ltd., with the corresponding repurchase transaction amount as the base, according to the ratio of 5/10000, to the actual date of Jia Yueting settlement, temporarily counted as June 27, 2017 as 909.8872 million. IV. Paying the implementation certificate to Ping An Securities Co., Ltd. The notary fees were 1.426 million yuan for people and 256 million yuan for legal fees.
The above sum totaled approximately 4.7933 trillion yuan, but Jia Yueting has not fulfilled all of them. Therefore, Jia Yueting was listed as a case in which the untrustworthy person was executed as a "violation of property reporting system."
It is worth noting that in September of this year, LeTV Holdings (Beijing) Co., Ltd. and LeSport Mobile Intelligence Information Technology (Beijing) Co., Ltd. were also included in the list of defaulters. Among them, Leshi Holding (Beijing) Co., Ltd. has two cases involved, the case number is (2017) 020 Executive 409 and (2017) Jin 02 Executive 325, the implementation of courts are the second middle-level people in Tianjin The court's obligation to take effect in the legal documents is to pay 500,187.25 million yuan and 57,146,416 yuan, totaling about 107 million yuan.
The case number involved in LeSports Mobile Intelligence Information Technology (Beijing) Co., Ltd. is (2017) Jin02 Executive No. 325, and the legal document's obligation to enter into effect is 57,174,671,000 Yuan. Similarly, LeTV Mobile has not fulfilled all of its requirements. To refrain from fulfilling the effective legal document to determine the obligation to perform.
Has pledged 27.28 million shares to Ping An Securities
With regard to Jia Yueting, who was listed on the list of defaulters who had been dishonestly executed, the legal documents disclosed by the Chinese Information Disclosure Network did not disclose what time it was. Jia Yueting owes the Ping An Securities money for what reason. The "Securities Daily" reporter confirmed the relevant person of Ping An Securities yesterday and did not receive a positive reply from the other party.
However, according to the announcement of the listed company LeTV.com, Ping An Securities' contact with LeTV and Jia Yueting is mainly two things. First, Ping An Securities is the sponsor and lead underwriter for LeTV in 2010, and received a underwriting sponsorship fee of RMB 36 million. After LeTV viewed the online market, Jia Yueting had pledged equity for financing on several occasions. During the seven years of listing, Jia Yueting had handled 34 equity pledges. There were 12 securities companies involved, including Ping An Securities.
LeTV.com's June 6, 2014 announcement revealed that Jia Yueting once held a stake in the 21.28 million shares held by LeTV.com and Ping An Securities for a stock pledged repurchase transaction. This transaction was made by Ping An Securities in June 2014. On the 3rd of the day, the Shenzhen Securities Exchange's trading system handled the declaration procedures. From the date on which the shares were pledged, it was necessary to apply for the cancellation of the registration of pledges with the China Securities Depository and Clearing Corporation Limited Shenzhen Branch.
Since then, although LeTV.com has repeatedly announced Jia Yueting’s announcement of equity pledge and the release of equity pledge, there is no announcement that the pledged equity of Ping An Securities has been released.
According to the statistics, on May 13th and August 25th 2015, LeTV.com conducted two high-rate transfers. The ratio of shares transferred per 10 shares was 12 shares and 10 shares respectively. On June 3, 2014, the opening and closing prices of LeTV.com were RMB 40.72/share and RMB 41.16/share, respectively. If the average price is 25% per day, Jia Yueting may pledge this equity to Ping An Securities. Financing is about 462 million yuan.
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