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BUSINESS & TECH

Painful Losses Cast Ever-Darker Shadow Over Once-Dazzling LeEco

By April Ma, Zhou Qixie and An Limin
LeEco’s listed unit is set for over 600 million yuan ($89 million) in losses for the first six months of this year, LeEco forecast Friday evening. Above, company founder Jia Yueting unveils the LeSEE, LeEco’s fully electric car, in Beijing in April 2016. Photo: Visual China
LeEco’s listed unit is set for over 600 million yuan ($89 million) in losses for the first six months of this year, LeEco forecast Friday evening. Above, company founder Jia Yueting unveils the LeSEE, LeEco’s fully electric car, in Beijing in April 2016. Photo: Visual China

(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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