Nets revenues exceed 10 Billion Yuan
Beijing/ New Delhi, September 2, 2016: Global internet and technology conglomerate LeEco continues to charter new heights in H1 2016. During this period, the total revenue of LeEco’s subsidiary Leshi Internet Information & Technology Corp. exceeded 10 billion yuan or 1.5 billion USD and it posted a growth of 125.59% year over year.
This is the first time that Leshihas managed to break the 10 billion-yuan mark ina half-year financial report. Besides, the net profit attributable to common shareholders of the company increased 11.64% year over year.
LeEco is the only company in the world to adopt a member ecosystem approach and it continues to connect with users all across the globe. The true testimonial of this is that in H1 2016, its listed subsidiary achieved USD 406.35 million (2.709 billion yuan) in subscription revenue, which is up 152.07% YoY. Apart from this, Leshi also managed to get 769.8 millionUSD (5.132 billion Yuan) in device revenue, up 171.13% year over year, and 234 million USD (1.56 billion Yuan)in advertising revenue, up 50.84% compared to last year.
Key highlights of this period are:
• The Company’s video site www.le.com gained increased user stickiness, recording averagely more than 80 million daily unique visitors which peaks at nearly 230 million, and 390 million average daily video views that peaks at 610 million. This was partly due to the release of popular videos such as The Legend of Miyue, Go Princess Go, Dear Translator/Interpreter, To Be a Better Man, and Demon Girl etc.
• There was a significant increase in subscribers and subscription revenue, which rose 152.07% year over year to reach USD 406.35 million.
• 7 million Super TVs have been sold in three years since its launch, and the sales target for H1 2016 was met as well.
Leshi Internet Information & Technology Corp. (300104.SZ) is a subsidiary of LeEco featuring the video streaming businesses. LeEco, formerly known as Letv, is a global pioneering internet and technology company with multiple internet ecosystems across content, devices, applications and platforms. Founded in November 2004 by JiaYueting and Liu Hong, LeEco employs more than 10,000 people. Headquartered in Beijing, China, it has regional headquarters in Hong Kong, Los Angeles and Silicon Valley. Its subsidiary Leshi Internet Information & Technology Corp. is the world’s first video company to go public with a market capitalization of more than $12 billion USD.
With “Breakthrough Technologies, Comprehensive Ecosystem and Disruptive Pricing” as the guiding principle, LeEco is engaged in a myriad of businesses, spanning from Internet-based Super TV and Superphones, video production and distribution, smart devices/accessories and large-screen applications, to e-commerce and even connected super-electric cars. The company also features one of the world’s largest content libraries, comprising of movies, TV dramas, entertainment shows, sports and music, which can be conveniently viewed on LeEco products, including the Superphones, Super TVs, and in the near future, Le Autos. Breaking the barriers of industries, LeEco provides personalized products and services for an enhanced user experience at disruptive prices.