On the afternoon of July 3rd, it was reported that as many as 654.38+02 billion assets of Jia Yueting, the founder of LeTV, and LeTV Department were frozen.

According to the notice, the civil ruling made by the Shanghai Higher People's Court on the dispute between China Merchants Bank Co., Ltd. Shanghai Chuanbei Sub-branch and Lefeng Mobile Hong Kong Co., Ltd., LeTV Mobile Intelligent Information Technology (Beijing) Co., Ltd., Jia Yueting and Gan Wei's financial loan contract has become legally effective. Due to property preservation, Sheng Da Science and Technology was requested to assist in freezing all the shares and dividends of LeTV Holdings in Sheng Da Science and Technology (with a capital contribution of 80 million yuan).

For such a major crisis, the relevant person in charge of LeTV Holdings responded that the asset freeze applied by China Merchants Bank was due to a financing loan of LeTV's mobile phone business. However, the asset collateral of their loan is enough to cover the debt.

It is reported that at present, LeTV executives are in close communication with various financial institutions including China Merchants Bank, hoping to solve related debt problems as soon as possible.