With the Spring Festival approaching, it may not be a new year's greeting for migrant workers, but a cold layoff call. 19 major Internet companies announced layoffs, and Internet practitioners were in panic. No one knew which company would be the next to explode. LETV, which owed 12.2 billion at the beginning of the year and was ridiculed by netizens as "the dream is finally suffocated", has given migrant workers a boost. On December 21, LETV video, LETV and the official microblog of LETV intelligent ecology also announced a salary increase, and announced that LETV would benchmark Internet manufacturers. In this cold winter of layoffs, "reverse" LETV has earned enough attention. While in debt, while raising salary In addition to the voice of the official microblog, LETV's personnel department also issued an internal letter: "in November 2021, TV terminal operation, mobile terminal operation, advertising commercialization and other businesses reached their annual business objectives ahead of schedule. Without considering the impact of historical debt, the latest business data achieved a double balance between operating profit and cash flow, which is of great significance for the first time in the past few years." "Reach in advance" and "double balance of operating profit and cash flow" are particularly eye-catching. There are two main reasons why LETV can achieve the perfect report card in 2021: first, the hardware business, LETV intelligent ecology returns to the public view. In addition to the two core products of TV and mobile phone, LETV has successively released digital 3C products such as VR, reverse headphones and game handles, as well as home kitchen appliances such as range hood, integrated stove and smart door lock; The second is the content business. The LETV ecosystem built on hardware is beginning to show its greatness, and the annual business objectives are reached in advance in LETV TV terminal operation, mobile terminal operation, advertising commercialization and other businesses. Although the annual task is completed ahead of schedule, the hidden dangers behind LETV are still worrying. In addition to 10 billion liabilities, there are frequent rumors that LETV will be split, and this rumor is also exposed in the salary increase announcement. The main companies of LETV's salary increase include letv.com and Lerong Zhixin, excluding LETV holdings, Jia Yueting's private company. Among them, LETV's core business is LETV video, and LETV's new core business is LETV intelligent ecology, including TV. Although both belong to LETV, the relationships of its companies are complex. As the core management of LETV, LETV Zhixin has only 25.1% equity belonging to LETV. Tianjin Jiarui Huixin Enterprise Management Co., Ltd., which is 100% controlled by rongchuang company, is the largest shareholder, with 57.3% shareholding ratio and 69.2% final income shares. Compared with LETV and lerongzhixin, although they are a family, their core businesses are divided very carefully. LETV is responsible for LETV video, which is also the main profit at present. However, since the development of the long video platform, LETV has long lagged behind. Not only is its market share far inferior to aiyouteng, but also mango TV and Sohu Video in the second echelon can't compare. LETV's new core business, LETV ecosystem, is the key to LETV's next layout. Super TV to "LETV" Once, LETV super TV was the first player in the field of Internet TV. According to the report on the overall market share of color TV in China in 2016 released by zhongyikang, LETV super TV had the highest total monthly sales of 715000 units, accounting for 21.83% of the total sales, ranking first in the whole industry and all channels; In the distribution of brand share in China's smart TV market, LETV ranks first with 9.6%. At that time, LETV super TV was the best in smart TV, which is also the reason why LETV was able to attract capital after the collapse of the LETV empire. In 2017, LETV's capital chain broke and sun Hongbin, chairman of rongchuang China, joined the board. He highly praised LETV's TV business: "at least in TV, LETV is better than apple." LETV has won capital injection for itself with super TV, but the price of selling is that LETV is split step by step. First, in November 2017, driven by rongchuang, LETV Zhixin, the main operator of LETV super TV, officially changed its name to xinletv Zhijia, and its business expanded from large screen terminal to smart home Internet. After the change of name, LETV, the parent company, still holds 40% equity; Jiarui Huixin under sun Hongbin holds 33% of the equity and is the second largest shareholder. In April 2018, xinleshizhijia joined rongchuang culture and changed its name to Lerong Zhixin; In August of the same year, lerongzhixin completed the industrial and commercial change. According to the statistics of tianyancha, 11 companies controlled by sun Hongbin, including Jiarui Huixin, Linzhi Lichuang of Tencent, Jingdong bonneng, Suning and TCL of Jingdong, increased the new capital of lerongzhixin by nearly 3 billion yuan. LETV's shareholding in lerongzhixin decreased to 36.4% from 40.31%. On September 22, 2018, rongchuang took over all the assets of lerongzhixin and LETV film held by LETV holdings at a total auction reserve price of RMB 770 million. At this point, Jia Yueting was completely out of the new from Le Rong; The important assets of LETV were split, and the new controlling right of lerongzhi, which operates LETV TV business, was won by rongchuang. After rongchuang obtained absolute control over LETV super TV business, it officially announced the restart of LETV intelligent ecology. Dozens of new products have been launched, covering kitchen appliances, household appliances and other household appliances, and 3C digital, mobile phones, monitors, even charging lines and charging plugs are on sale in LETV mall. The fifth generation LETV super TV returned after several years of absence. At present, the new generation of LETV super TV has successively launched nearly ten products with wide price distribution, ranging from 32 inch entry-level smart TV, priced at 699 yuan, to 75 inch flagship smart TV g75s, priced at 4599 yuan. In order to further "de LETV", Lerong Zhixin planned to change the name of "LETV super TV" to "Lerong super TV". But in the end, users gave up renaming because of their higher general acceptance of LETV. Although the name hasn't changed, the "heart" of TV has changed. Lerongzhixin continues to spin off LETV's business and rename the super film and television app built in LETV super TV to Huaying time app. Lerongzhixin is responsible for the business and has been updated to version 2.0. China film time app not only owns classic copyrighted dramas accumulated by LETV for a long time, but also has reached cooperation with mango TV, a competitor of LETV video. The "super family member" launched by Huaying time app can not only unlock the member dramas of LETV video, but also share mango TV members and watch the independent dramas of mango TV. One LETV said two things, which can only say that LETV's internal business is a mess. LETV ecosystem reappearance Not only TV, but also LETV mobile phone. In September 2021, the new generation LETV mobile phone S1 was released, with a starting price of 1599 yuan. LETV held high the slogan of "national production", saying that chip, memory, screen and manufacturing are domestic manufacturers. A loud slogan does not mean excellent quality. This S1 is equipped with Huben t7510 chip of Ziguang zhanrui, which supports 5g function. It is a pure domestic chip, but its process still uses 12NM of three-year front-end accumulated electricity. Compared with the general 5nm chip, the performance is very different. Now the competition in the mobile phone market is extremely fierce. LETV did not publicize the new machine. The target customer group of S1 is the sinking market of fourth and fifth tier cities. Compared with mobile phone sales, LETV is more like a symbolic completion of LETV's ecological layout. Although it seems that LETV is moving in a good direction, whether it is super TV or LETV ecology, it seems that Jia Yueting's old way from hardware to software. It is nothing more than changing the name of the "seven ecology" without any innovation. On the long video platform, LETV is far behind aiyouteng; In the field of smart TV, LETV super TV can't compare with Xiaomi TV and Huawei smart screen; In the mobile phone market, Xiaomi, once a hot seller, is already the top three in global shipments... LETV has too many lessons to fall behind. The market is no longer the previous market, and Jia Yueting's set is not applicable to the present. Today, with 10 billion liabilities and a tangled LETV inside, it is still difficult to recover its former glory. (Xinhua News Agency)