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LETV’s debt meets deadline today, and Yinlong denies taking over LeAuto’s shares

Biwen Wang From 盖世汽车| August 10 , 2017 15:06 BJT

LETV’s debt meets deadline today, and Yinlong denies taking over LeAuto’s shares

News comes out that LETV’s founder Jia Yueting has departed from America to Hong Kong several days ago to deal with LeAuto’s finance problem. But no affirmation has been received from LETV.

It’s noticeable that August 10th is the deadline for LETV to pay for employees’ salaries, but suspicion still exists whether the salaries could be paid on time.

There is also news coming that Zhuhai Yinlong would cooperate with Jia Yueting’s auto company, and that Dong Mingzhu would join in FF Electric Vehicle Company’s A-round finance. Data shows that Dong has held Yinlong’s shares exceeding RMB 1.9b. But insiders in Zhuhai Yinlong have denied the rumor.

Reporters learn that Jia was seeking for finance after his departure to America. FF just admitted failure in raising USD 1b fund from 35 investors across the globe in July. Jia has admitted to mortgage the headquarter building in Los Angeles to obtain the USD 14m saving loan.

According to plan, the year 2018 will be an important year for FF and LeAuto. If the financing fund would not be raised in time, LeAuto’s plan would not be completed smoothly.

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