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Companies

Online streaming service Leshi struggles to turn itself around

Once-hot Chinese company logs nearly $300m net loss as diversification backfires

LeEco unveils an all-electric concept car in 2016. The group's diversification strategy ran into headwinds.   © Reuters

DALIAN, China -- Video streaming service Leshi Internet Information & Technology is struggling to regain its financial footing as an ill-conceived push to diversify has left the company with a negative net worth.

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