Painful Losses Cast Ever-Darker Shadow Over Once-Dazzling LeEco
(Beijing) — LeEco investors are steeling themselves for another bumpy ride, as news over the weekend threw the troubled giant’s credibility and prospects deeper in doubt.
The company’s listed unit is set for over 600 million yuan ($89 million) in losses for the first six months of this year, LeEco said in a performance forecast Friday evening — a sharp decline from the same period last year, when it reported nearly 300 million yuan in profit.
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