Its Wealth Management Products Have All Been Redeemed, Says LeTV Finance
Xu Wei
DATE:  Jul 24 2017
/ SOURCE:  Yicai
Its Wealth Management Products Have All Been Redeemed, Says LeTV Finance Its Wealth Management Products Have All Been Redeemed, Says LeTV Finance

(Yicai Global) July 24 -- Investors recently reported that a LeTV Finance product had not been cashed out in due course.

A LeTV Finance staffer responded the payment for such product had indeed been deferred for half a day, but had all now been cleared, per a report today by the Securities Times.

The LeTV Finance product that matured on July 13, 2017 was to have been cashed in on the third trading day (T+3) as contracted. However, the subscribers hadn't received payment by the agreed date of July 19.

"Payments have indeed been delayed for half a day, but all have now been cleared. Delayed payment occurred on other platforms that day as well," the staff member said added, "Now, the whole company is in the teeth of the storm and our finance department cannot afford to make any mistakes."

LeTV Finance was questioned by the market about only having five products. The said sources of LeTV Finance responded, "Wealth management products are issued based on assets. If there are only a few products available at the time of inquiry, it is very unprofessional to say we only have five products."

Though LeTV Finance's current operation is healthy, many LeTV employees are leaving under the impetus of overall negative news about LeTV, and thus this understaffing of LeTV Finance arose.

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