(Chinese Version)

　　According Tencent Finance’s report, in the afternoon of July 21st today, Sun Hongbin has been chosen to be the new board chairman for LeEco’s listed unit Leshi Information & Technology on a phone board meeting. In other words, a new Leshi team is born, led by Sun Hongbin.

　　Previously on July 17th, Leshi Information & Technology announced that a board meeting would be held in three days to vote on a new board chair and the members of the committees of the board.

　　Leshi Information & Technology then subsequently held an unscheduled shareholder meeting. SUNAC’s board chair Sun Hongbin, Leshi Film’s board chair Zhang Zhao, Leshi Information & Technology’s CFO Zhang Wei, CEO Liang Jun, board chair Liu Shuqing and board chair secretary Zhao Kai etc. attended the meeting. However, Leshi’s founder and biggest shareholder Jia Yueting was absent.

　　On July 17th, evening, Leshi released an official statement on its site, which says it had been approved at the second unscheduled shareholder meeting that SUNAC’s holder Sun Hongbin, Leshi Information & Technology’s CEO Liang Jun and Leshi Film’s CEO Zhang Zhao would enter the listed unit’s board. In other words, there are eight members at Leshi Information & Technology’s board.

　　(See also: Leshi Extends Share Suspension While Delaying Voting On The New Board Chair)

　　At the beginning of 2017, SUNAC invested in the cash-strapped LeEco: On January 13th 2017, SNAC and Leshi Information & Technology announced to invest ￥15.041 billion in Leshi Information & Technology strategically. In the deal, SNAC would acquire 8.61% of and Leshi Information & Technology’s shares at ￥6.041 billion, and acquire 33.5% of Leshizhixin’s shares at ￥7.95 billion after additional issue. In addition to that, SNAC would purchase 15% of Leshi Film’s shares at ￥1.05 billion.

　　After the deal, SNAC would become LeEco listed unit’s second largest shareholder and major shareholder of LeEco’s TV and film subsidiaries.

　　It’s reported that Leshi Information & Technology will later announce relevant official updates.

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　　Translated by Garrett Lee(Senior Translator at PAGE TO PAGE), working for TMTpost.