Chinese Regulators Are Said to Start Reviewing Leshi Internet
- Banking and market regulators said to be going over its books
- Leshi is the main listed entity of Jia Yueting’s LeEco empire
This article is for subscribers only.
China’s securities and banking regulators have begun probing the finances and disclosures of Leshi Internet Information & Technology Corp., the main listed business of the LeEco conglomerate, people familiar with the matter said.
The China Securities Regulatory Commission has started pulling documentation on Leshi for review, the people said, asking not to be identified talking about a probe. They’re also examining pledges of Leshi stock made in return for loans, they said. Separately, the China Banking Regulatory Commission is contacting financial institutions to get a better sense of their exposure to the company, the people said.