LeTV Network Technology (Beijing) Co., Ltd. (hereinafter referred to as "LeTV," "the Company," or "the Listed Company") received the Shenzhen Stock Exchange's inquiry letter (Entrepreneurial Board Inquiry Letter [2020] No. 307, hereinafter referred to as "the Inquiry Letter") on June 4, 2020. The Company and its board of directors guarantee that the content of the information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
After receiving the Inquiry Letter, the board of directors and management attached great importance to it and promptly organized relevant departments and personnel to respond. The Company hereby responds to other questions in the Inquiry Letter as follows:
Question 1:
The reason for Yingrui Huixin's transfer of its 100% equity in Jiarui Huixin, the pricing basis and rationale for this equity transfer at a consideration of 0 yuan, and whether there are any circumstances of avoiding share reduction restrictions by related parties of Sunac.