LeEco continues to struggle to survive, with some shareholders calling for Jia Yueting to use money that he has in other businesses such as his automotive interests, to payback some of their investments in LeEco which is stuggling to survive. The Nikkei reports that the chance of a company coming to the firm’s aid is getting more and more remote. Another wealthy Chinese, Sun Hongbin, chairman at Sunac China Holdings, a property company, put in as much as $2.5 billion last year in an attempt to help LeEco, but Nikkei reports that he is now prepared to walk away.
Jia has refused to return to China and continues to work on a plan for electric cars in the US.
At the end of January, Leshi Internet, the main listed unit of LeEco, said that it had lost $1.83 billion in 2017 and its shares lost 10% per day for six days, the maximum drop allowed in the market. The shares had been suspended for nine months before this period.
