Sun Hongbin: As long as Jia Yueting withdraws from many people willing to take over

Sun Hongbin, Chairman of Sunac China, recently shared his thoughts on LeTV during an interview with the media, describing it as "an absolutely positive thing." He emphasized that many people are keenly interested in LeTV, especially following the departure of former CEO Jia Yueting. As an example, he mentioned that during LeTV's withdrawal period, Chuang Yun Capital's Wen Xiaodong received around 20 cooperation inquiries daily. Sun Hongbin explained that the difficulties LeTV faced, particularly regarding cash flow and a trust crisis, have somewhat eased after finding a new owner. Following the acquisition by Chuangyun Capital, the core management team underwent another reshuffle. On July 17, four LeTV executives stepped down, including CFO Ren Wei, CTO Yuan Bin, Legal VP Liu Xiaoqing, and HR VP Ma Dong. Their resignations were officially approved by the company, and while Yuan Bin and Liu Xiaoqing left their positions immediately, Ren Wei and Ma Dong continued fulfilling their duties until replacements were appointed. From the outset, Sun Hongbin’s investment in LeTV has been unwavering. Prior to the acquisition, Sunac conducted thorough research and concluded that LeTV wasn't just a video or film company but represented the broader cultural and entertainment sector. Regarding LeTV’s ventures into Yidao, sports, and mobile phones, Sun Hongbin advised quick partnerships and swift exits. He publicly praised LeTV multiple times, even calling its super TVs a "return tool." Even amidst ongoing negative press surrounding LeTV, Sun Hongbin remains steadfast in his belief that LeTV, both as an A-share listed entity and through its new ventures, is a "good thing." At a media briefing on July 18, he outlined Sunac’s strategic focus on consumption upgrades and the cultural and content industries. Currently, LeTV's primary business revolves around selling more TVs and producing more films, strengthening control over large-screen operations. Regarding his role at LeTV, Sun Hongbin humorously noted that he doesn’t seek to become the chairman, as Sunac’s scope extends beyond LeTV. While he holds five out of eight board seats, nominations for the chairman position remain unconfirmed. He acknowledged that if elected, he would take up the role, emphasizing the importance of finding the right external partners for LeTV. Sun Hongbin also highlighted that Sunac’s financial health remains robust, with nearly 50 billion yuan in usable cash as of June 30. In response to recent credit downgrades by two major international rating agencies, Sun Hongbin dismissed these actions as "ridiculous," arguing that such ratings have little impact on Sunac’s operations. He also addressed rumors about a risk investigation by banks following Sunac’s acquisition of LeTV, stating that this scrutiny had begun after their involvement with the company. Most commercial banks have since expressed understanding and support for Sunac’s endeavors. Overall, Sun Hongbin remains optimistic about LeTV’s future, emphasizing strategic partnerships and financial stability as key drivers of growth.

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Some features as below:


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  • Equips with LIST waveform editing function.
  • Use the Standard Commands for Programmable Instrumentation(SCPI) communication protocol.
  • Have obtained CE certification.


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