ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Companies

Leshi's net assets turn negative, risking delisting

Streaming company fails to turn tides around and expects further losses

Leshi founder and ex-CEO Jia Yueting's electric-car ambitions were part of an expansion that left the company pinched for funds.
Leshi founder and ex-CEO Jia Yueting's electric-car ambitions were part of an expansion that left the company pinched for funds.   © Reuters

SHANGHAI -- Online video company Leshi Internet Information & Technology had 470 million yuan ($68.7 million) in liabilities in excess of assets as of the end of June, and the prospect of continuing losses has raised fears that its shares will be delisted.

The Chinese company reported a net loss of 1.1 billion yuan in January-June results released Wednesday, worsening from a loss of about 600 million yen in the first half of 2017.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more