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class="say"><p>不断地吹大一个又一个的“泡泡”,融入一轮又一轮的资金,为“乐视生态”一次又一次地“输血”,延续“生态故?.....</p></div> </div> </div> <div class="article-content fontSizeSmall BSHARE_POP"> <p lantinghei="" sc="">不断地吹大一个又一个的“泡泡”,融入一轮又一轮的资金,为“乐视生态”一次又一次地“输血”,延续“生态故事”一个又一个的神话……这样贾跃亭式的“神话故事”,在深交所作出乐视网暂停上市决定的这个初夏,正式终结?/p><p lantinghei="" sc="">5?0日,深圳证券交易所发布公告称,乐视网因触及《创业板股票上市规则》的相关规定,深交所决定?019??3日起暂停乐视网股票上市?/p><p lantinghei="" sc="">这家曾经的创业板龙头企业,鼎盛时期的市值曾达到1700亿元。如今黯然离场,停牌前股价只?.69元,市值收缩至67.42亿元,只有顶峰时期市值的4%?/p><p lantinghei="" sc="">乐视网当晚公告称,暂停上市后,如?019年乐视网的净利润为亏损、净资产为负、审计报告被出具保留意见、被宣布破产,或者被立案调查认为存在重大信息披露违法等强制退市情形,乐视网可能存在终止上市的风险?/p><p lantinghei="" sc="">种种迹象显示,乐视网?019年“翻身”可能性甚微,除非贾跃亭及时偿还其关联公司所欠乐视网的巨额应收款,同时乐视网重新找到核心主业、经营层面恢复良性循环?/p><p lantinghei="" sc="">目前的乐视网千疮百孔、债台高筑?018年乐视网净资产?30.26亿元,净利润?40.96亿元;同时,对供应商、服务商等的欠款?3.55亿元,长短期借款5.55亿元,其他流动负债约33.04亿元;而大股东贾跃亭及其关联企业对乐视网的欠款28亿元,至今始终未有实质性的解决方案?/p><p lantinghei="" sc="">所以,如今暂停上市,只是乐视网走向彻底退市的又一个步骤?/p><p lantinghei="" sc="">谁一手建造了这幢“大楼”,又一手毁了它?乐视网的创始人、大股东贾跃亭,难辞其咎。他曾经登峰造极?年前?013?月,乐视超级电视以黑马姿态,闯入彩电圈,2016年的销量便直?00万台,似乎眼看就要颠覆整个彩电业的竞争格局,连TCL电子当时都找乐视来战略入股?/p><p lantinghei="" sc="">贾跃亭的“硬件亏本、内容贴补”的生态玩法,曾经攻城夺塞、势如破竹,而且追随者众。在乐视之后,小米、微鲸、PPTV、暴风等纷至沓来,当年一下子涌现了十多家新的互联网电视玩家?/p><p lantinghei="" sc="">笔者的一位朋友,就曾在这股互联网电视的热潮中,从一家传统彩电企业辞职,“转会”到新兴的互联网电视公司。没想到,眼看他起高楼,眼看他楼塌下。在乐视风波之后,互联网电视的“神话”破灭,资本市场由热转冷,这位朋友进入的互联网电视公司也于今年春节前后结束了电视业务?/p><p lantinghei="" sc="">任何自身不创造价值,依靠讲故事、资本“输血”的所谓商业模式,最终都不长久,迟早会在“泡沫”吹破之后,从高空跌落到冰冷的地面。贾跃亭、乐视网和乐视生态,就是一个典型的反面教材?/p><p lantinghei="" sc="">一位曾经的乐视超级电视经销商、LePar(乐帕)合作人告诉笔者,贾跃亭曾把手握乐视超级电视经销权的LePar(乐帕)公司从乐视网剥离,经销商的货款都打入乐视控股的相关账户,资金在乐视网“体外”打转,可能流入乐视手机、乐视汽车等新的项目?/p><p lantinghei="" sc="">贾跃亭不断“造”新的概念、乐视生态的新项目,乐视网在美好“故事”的烘托下,市值扶遥直上。贾跃亭凭乐视网大股东的身份,通过抵押股权、上市公司连带担保等方式,为新项目不断吸纳新资金。一个例子就是,乐视网为乐视体育、乐视云的股东违规承担担保,涉及巨额担保赔偿?/p><p lantinghei="" sc="">只要“击鼓传花”的游戏延续,不断有新项目吸引到新资金,乐视生态就能维系,哪怕生态里的项目自身并不盈利。但是当彩电市场变冷,叠加资本市场变冷,乐视的资金链就断了,轰然倒下?/p><p lantinghei="" sc="">现在,哪怕是新兴互联网电视阵营里尚存的小米,也不会“硬件亏本”?019年,中国互联网电视广告市场的规模有望大幅增长,智能大屏的价值实现曙光窄现。但是,无论是酷开、KKTV、VIDAA等传统电视的互联网子品牌,还是依靠融创集团、重新出发的“乐融Letv”,在积极做大智能电视内容、服务“软件”收入的同时,谁也不敢再踩“硬件亏本”的“雷区”,顶多成本打平,因为乐视已是沉痛的前车之鉴?/p><p lantinghei="" sc="">世界上从来没有“救世主”,除了自己。孙宏斌两年前斥资约150亿元“拯救”乐视系,没料到贾跃亭在乐视网挖的坑很多深、对乐视网的巨额欠款也不还。孙宏斌旗下的融创已经“釜底抽薪”,去年获得超级电视业务所在“乐融致新”公司的控股权,乐融致新今年已不再纳入乐视网。乐视网已几乎变为没有核心主业的“空壳”。仍在忙FF项目的贾跃亭,如果偿还乐视网欠款,乐视网也许还有一丝“生还”的希望,否则乐视网彻底退市、贾跃亭所持股权“化水”,都将不可避免</p> <p><strong>转载请注明出处?/strong></p> </div> <!-- 心情 --> <div class="mood"> <div id="cyEmoji" role="cylabs" data-use="emoji"></div> </div> <!-- @心情 --> <div class="tag"> <div class="tagtitle"></div> <div class="share"> <a href="javascript:;" class="sharea1">分享到新浪微?/a> <a href="javascript:;" class="sharea2">分享到腾讯微?/a> <a href="javascript:;" class="sharea3">收藏</a> </div> </div> <div class="avow"> <div class="avowtitle"></div> <!-- 声明 --> <p>1.本站遵循行业规范,任何转载的稿件都会明确标注作者和来源?.本站的原创文章,请转载时务必注明文章作者和来源,不尊重原创的行为我们将追究责任?.作者投稿可能会经我们编辑修改或补充?/p> <!-- @声明 --> </div> <div 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