Per Editor: Peng Shuiping
518 days after LeTV was delisted, on December 21, the "LeTV Video" Weibo account and the "Letv" Weibo account simultaneously released a salary increase poster. LeTV video said, "In 2021, there are frequent events, we are forging ahead, and in 2022, we are one step closer to a well-off life."
The "Letv" Weibo, which is certified as Lerongzhi New Electronic Technology (Tianjin) Co., Ltd., said, "This time benchmarking the Internet factory!" ”
According to Beiqing Network, previously, leTV's internal letter flowed out, not only revealing the news of LeTV's double balance of operating profit and cash flow this year (without considering the impact of historical debt), but also announcing that from the Spring Festival in 2022, the salary cut and subsidies of employees during the epidemic last year were restored.
It is worth noting that the main companies of this salary increase include LeTV and LeRongzhixin, and do not include Jia Yueting's private company LeEco Holdings. The above two main companies are now managed by the professional managers of the original company, and Jia Yueting is not involved. LeTV's current core business is LeTV video, and Le Rongzhi's core business is LeTV's intelligent ecosystem, including television.
Ten years and a dream, LeTV was listed in 2010, after which the market value soared through 100 billion, becoming the "market value brother" of the ChiNext board, and then Jia Yueting launched a reduction plan, Sun Hongbin "tearfully" rushed to the aid, Jia Yueting went to the United States, LeTV network fell into the quagmire of losses, and entered the delisting channel With only a fraction of the market value left. On July 20, 2020, the last trading day of LeTV's delisting period ended at 0.18 yuan / share, with a total market value of 718 million yuan. On July 21 of that year, the former "GEM brother" was officially delisted. Based on this calculation, LeTV has been delisted for a full 518 days.
At the beginning of this year, LeTV "owed 12.2 billion" to the black, and many people remembered that LeTV was still alive. A year later, how is LeEco doing now? This internal letter shows that the positive cash flow and profit of LeTV shows that LeTV's operation has returned to the right track, and LeTV's hematopoietic capacity has rebounded.
From the internal letter, it can be seen that LeTV has achieved a positive change in profit and cash flow this year, mainly for two reasons: one is hardware, LeTV intelligent ecology has returned to the public eye, new categories, new products have been listed, sales should be good; second, content, in November 2021, TV terminal operations, mobile terminal operations, advertising commercialization and other businesses have reached the annual business targets ahead of schedule.
Image source: Daily Economic News Infographic
According to Beiqing Network, LeEco put forward a reflection on the company's business philosophy in an internal letter: whether the scale of relying on continuous burning money and huge losses is sustainable and whether it is really responsible for users is debatable. According to an internal letter, LeEco has been working towards another goal in recent years: to become a company with positive cash flow, breakeven and sustainable development. Only in this way can we go steady and far, can we gain the trust of users, truly serve users, and become good friends with users. It can be seen that today's LeTV has bid farewell to the Internet burning money expansion model, and instead pursues positive cash flow and profits, and does a good job in business.
Source: Daily Economic News Comprehensive "LeTV Video" Weibo, "Letv" Weibo, Beiqing Network
Daily economic news