November 30 report: The phrase "first-class companies selling buildings" has long been considered absurd, but LeTV may now be taking it seriously. According to recent reports, several real estate agencies have announced that LeTV is looking to sell its headquarters building in Beijing for 1.4 billion yuan.
The building, previously known as "Hongcheng Xintai Building," is located near Chaoyang Park Bridge in eastern Beijing and spans 20,000 square meters. LeTV acquired the property in 2014 and renamed it "Levision Building." The decision to sell comes amid ongoing financial struggles, with some suggesting the move is aimed at repaying debts to suppliers.
However, according to previous data, LeTV's total outstanding debts exceed 20 billion yuan. Selling one building, while potentially helpful, is unlikely to resolve the company’s broader financial issues. This raises questions about whether the sale will even go through, given the limited market for such a large commercial property.
The building is primarily suited for use as a corporate headquarters or a major office space, which limits the pool of potential buyers. Additionally, there has been no official confirmation from LeTV regarding the sale, and the company has not denied the possibility that this could be just a rumor.
As the situation unfolds, it remains unclear whether this is a strategic move to stabilize the company’s finances or simply an attempt to generate short-term cash flow. For now, the real estate market and investors are watching closely.
Consumer Electronics
DongGuan BoFan Technology Co.,Ltd. , https://www.ufriendcc.com