Caixin
Nov 24, 2016 05:42 PM
BUSINESS

Compal Seeks to Calm Speculation on Extent of LeEco's Debt

(Beijing) — Taiwanese contract manufacturer Compal Electronics Inc. has revealed the size of LeEco's debt with the firm, seeking to refute media reports that China's cash-strapped tech giant owes a combined $700 million to Compal and another company.

Compal stated that of the NT$8.29 billion ($260 million) it is owed by LeEco, NT$4.25 billion was overdue — far less than expected following speculative media reports on LeEco's finances.

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