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June 26, 2019 by zhouyueyue  

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BEIJING, Jan. 24 (Xinhua) -- Shares of Leshi Internet Information and Technology, the listed arm of technology conglomerate LeEco, slumped by the daily limit of 10 percent at market opening Wednesday after the stock restarted trading.

 

The plunge came after a suspension since April last year, when the company said in a filing on the Shenzhen Stock Exchange that it was contemplating capital restructuring.

 

The planned deal to acquire a film arm from the troubled LeEco was finally dropped due to LeEco's financial woes.

 

LeEco was in deep water in the past year as the company's aggressive expansion into electric cars and other markets resulted in rapid build-up of debt.

 

LeEco founder Jia Yueting was said to owe about 7.5 billion yuan (1.17 billion U.S. dollars) to Leshi together with his affiliates Marc Gasol Youth Jersey , according to Leshi.

 

Jia, currently in the United States, was ordered by China's securities regulator to return to China to deal with the mounting debt trouble.

 

Leshi said in a recent filing with the exchange that it had seen sharp declines in revenue and a surge in financing costs in 2017. It also claimed difficulty in collecting receivables and tight cash flow situation.

 

The smart TV maker expected a net profit loss for 2017 and warned investors of operation difficulty.

 

Net profit attributable to shareholders slumped 435 percent year-on-year in the first three quarters and resulted in a loss of about 1.65 billion yuan.

 

 

 

DAVOS, Switzerland, Jan. 24 (Xinhua) -- As a leading university in China, Tsinghua has signed university-level MOU with 46 universities in 21 Belt and Road countries Mike Conley Youth Jersey , President of Tsinghua University Qiu Yong said here Wednesday.

 

Speaking at the second Belt and Road Davos Forum which Tsinghua is co-hosting, Qiu told the audience that his university has also signed agreements with many Belt and Road countries on the application of its cutting-edge technologies, such as the large container inspection system and emergency management system for public safety.

 

Last April, the Asian Universities Alliance, proposed by Tsinghua University and consisting of 15 Asian universities, was established in Beijing. It is expected to support the Belt and Road Initiative by promoting cooperation and exchanges among the universities in Asia.

 

"In May 2017 Zach Randolph Womens Jersey , during the Belt and Road summit in Beijing, I had the pleasure to meet the President of Indonesia Mr. Joko Widodo and signed an agreement with the minister of industry on establishing a Tsinghua South East Asia Center in Indonesia," Qiu said.

 

The center will play an important role in Belt and Road Initiative in terms of promoting people to people exchanges, as well as international cooperation in education among China and south east Asian countries, he added.

 

In the same month, Tsinghua also launched an EMBA program tailored for business leaders from the Belt and Road countries who are willing to gain in-depth knowledge of the initiative.

 

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