乐视再次炮轰熊猫家电

Core Viewpoint - LeEco TV has accused Nanjing Zhongdian Panda Appliance Co., Ltd. of owing 14.95 million yuan in compensation and evading debts through name changes and bankruptcy, raising questions about its motives amid significant financial struggles [2][3]. Dispute Background - LeEco was a pioneer in China's internet TV sector but faced a financial crisis leading to near delisting. In 2018, its TV business subsidiary was restructured and received significant investments [3]. - From early 2019 to March 2022, LeEco commissioned Nanjing Zhongdian Panda to manufacture 400,000 TVs, totaling nearly 450 million yuan, but faced high defect rates of nearly 20% [3][4]. - LeEco has incurred over 14 million yuan in after-sales costs due to quality issues, while Nanjing Zhongdian Panda has not compensated for its losses despite winning a lawsuit against a supplier [4]. Legal Proceedings - LeEco initiated legal action in December 2021, resulting in a court ruling in January 2024 that ordered Nanjing Zhongdian Panda to pay approximately 13.47 million yuan [4][5]. - Following dissatisfaction with the ruling, both parties appealed, but the higher court upheld the initial decision in June 2024 [4]. - Nanjing Zhongdian Panda changed its name to Nanjing Jingye Appliance Co., Ltd. shortly before the court's ruling, raising concerns about asset protection [5][7]. Current Situation - Despite court rulings, LeEco struggles to enforce its claims as Nanjing Jingye Appliance filed for bankruptcy in September 2025 [7]. - LeEco has reported debts of over 1 billion yuan to external parties, reflecting its ongoing financial distress [9]. - The competitive landscape for LeEco has worsened, with no presence in the top 20 TV brands in China as of October 2025, a stark contrast to its previous market position [9][10]. Industry Context - The decline of both LeEco and Nanjing Zhongdian Panda highlights the challenges faced by mid-sized companies in the industry, as they struggle with financial viability and market relevance [10]. - The shift in focus for Nanjing Zhongdian Panda away from TV manufacturing indicates a broader trend of consolidation and specialization within the electronics sector [10].