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LeEco Revenue Up During First Quarter of 2017 In Spite of Troubles

by Martin 0

LeEco has been in financial trouble for a while now, owing to the company expanding too rapidly into other regions and industry (such as the automobile industry). But it looks like things are beginning to look up for the company, as it has reported that the company had a net operating income of 4.92 billion Yuan, with 125 Million Yuan of its profits attributable to shareholder investments.

The first quarter revenue of 4.92 billion yuan was an increase of 6.21% and the previously mentioned shareholder investments of 125 million yuan is an increase of 8.76%. The company also reported that operating activities generated a net cash flow of 7.41 billion Yuan and as of March 31, 2017, the company’s debt had fallen to only 18.885 Billion Yuan.

RELATED: LeEco’s Financial Woes Are Far from Over, Delays Salary of US Employees

The company also announced its top shareholders which included, among others, Jia Yue Ting Holding which holds 25.67% of the company’s shares, Tianjin Jia Rui Huixin Enterprise Management Co., Ltd. which accounts for 8.56%, and Jia Yue-min Holding which accounts for 2.20%.

(source)

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