LETV tower, located near Chaoyang Park on the Fourth Ring Road of Beijing, covers a total area of 20000 square meters. On July 16, 2018, LETV confirmed that LETV building has recently been renamed "Le Rong building".
On July 16, according to domestic media reports and microblog users' photos, LETV building has recently changed its name to Le Rong building. In fact, in April this year, LETV Zhixin, a TV operating company of LETV, was renamed as LETV Zhixin.
According to the public information, LETV building is located near Chaoyang Park on the Fourth Ring Road of Beijing, with a total area of 20000 square meters. In December last year, a screenshot of an intermediary's wechat friend circle showed that LETV building was on sale, with an area of 20000 square meters and a price of 1.4 billion yuan. There were enough parking spaces in the front and rear yards, and it was marked as "urgent sale".
It is understood that the property right of LETV building is owned by Beijing Hongcheng Xintai Real Estate Co., Ltd., a subsidiary of LETV holdings in LETV's non listed system, which is mainly used by the business departments of the listed company system.
In June 2017, LETV holdings pledged Beijing Hongcheng Xintai Real Estate Co., Ltd. to Chongqing LETV commercial factoring Co., Ltd., a subsidiary of LETV Zhixin (formerly LETV Zhixin).
On the evening of July 13, LETV announced that it expected to lose 1.105-1.11 billion yuan in the first half of the year, compared with 637 million yuan in the same period last year. It is estimated that the company's net assets attributable to shareholders of the listed company from January to June 2018 are negative. If the company's net assets for the whole year 2018 are negative after audit, there is a risk that the company's shares will be suspended from listing.