Leshi, previously known as LeTV, is likely to get suspended from the Shenzhen’s Stock Exchange, the Paper is reporting.

On July 13, Leshi (乐视网) released a financial forecast for the first half (H1) of 2018 reporting net profit losses for shareholders between RMB 1.10 and 1.11 billion. In the same period last year, the company reported net losses of RMB 637 million.

The company released a statement the same day saying that if its net assets will be negative for the year of 2018, it will be at risk of being suspended from its listing. According to Shenzhen Stock Exchange regulations, if financial reports show that the net assets are negative at the end of the year, the exchange may decide to suspend the listing of the stock.

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Masha Borak

Masha Borak is a technology reporter based in Beijing. Write to her at masha.borak [at] technode.com. Pitches with the word "disruptive" will be ignored. Read a good book - learn some more adjectives.