(Yicai Global) July 6 -- Leshi Zhixin Electronic Technology (Tianjin) Co., the second largest shareholder of TCL Multimedia, has pulled in capital from Sunac China, therefore, the continuous money crunch which the companies under LeTV are experiencing would make little difference to TCL Multimedia, Wang Cheng, vice president of TCL Group and COO of TCL Multimedia Technology Holdings Ltd., told Yicai Global in an interview when commenting on the fund shortage wave that repeatedly plagued China's internet ecology developer LeTV Holdings Co.

Guo Tong, CEO of Shenzhen Leynew Technology Co. -- a smart TV production and service operator backed by TCL Multimedia, also argued that TCL Multimedia would be basically free of the recent troubles LeTV is faced with. This is because in terms of internet TV operation, TCL and LeTV don't have much cooperation in the main, except for their relations at the shareholder level.

However, Wang told Yicai Global that since the two sides also build upon an 'Original Equipment Manufacturer' (OEM) partnership, "We look forward to seeing good results for LeTV as one of its clients."

When asked about Leynew Technology's investment support of late from China's internet behemoths Baidu, Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd., collectively known as "BAT," as well as the strategic cooperation that followed, Wang said, "BAT's entry into the colored TV industry means that the time is ripe to monetize the home internet sector."

The three internet giants have accelerated their layout in the field of intelligent TV this year, among which Tencent acquired a 16.67 percent stake in Leynew Technology for CNY450 million (USD66 million) on July 2, emerging as its second largest shareholder. Such a move came after its 7.71 percent equity purchase of Coocaa TV, an arm of Skyworth Group Co., for CNY300 million.

Guo told Yicai Global that it is too early to say when Leynew Technology would go public independently considering its "in-the-infancy" business. TCL Multimedia and Tencent have co-established an operation team as user platform, on which the latter would integrate its resources ranging from pan-entertainment and programs with IPs to social contact for smart home scenarios.

Leynew Technology is mainly engaged in the design, production, manufacturing, and sales of "Leynew" brand smart TV, and is responsible for all operations of TCL-controlled intelligent television terminal platforms in China. So far, its smart TV platform has boasted a total of 20-million activated users.