LeEco (Beijing) Information Technology Co., Ltd. (hereinafter referred to as "LeEco" or "the Company") and all members of its board of directors guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.
1. Background of the Transaction
LeEco disclosed the announcement titled "Announcement on Borrowing from Related Parties and Related Transactions" (Announcement No. 2017-143) on November 20, 2017. On December 6, 2018, the Company disclosed the "Announcement on Receipt of Payment Demand" (Announcement No. 2018-195). On June 12, 2019, the Company disclosed the "Announcement on Litigation (Arbitration) Matters" (Announcement No. 2019-074). On October 23, 2019, the Company disclosed the "Progress Announcement on Litigation (Arbitration) Matters" (Announcement No. 2019-110). Details can be found in the specific related announcements.
According to the "Execution Ruling" (2019) Jing 03 Zhi 1344 issued by the Beijing Third Intermediate People's Court, "If the above measures are still insufficient to fulfill the obligations determined by the effective legal documents, the income or other properties that the executed party, LeEco (Beijing) Information Technology Co., Ltd., should fulfill its obligations may be detained, seized, frozen, auctioned, or sold." A total of 1,354 trademarks owned by LeEco were legally sealed.