Core Viewpoint - LeTV publicly criticizes Nanjing Zhongdian Panda Home Appliances Co., Ltd. for its alleged illegal actions and poor product quality, stemming from a partnership that began in 2019, highlighting significant quality issues with products manufactured by Zhongdian Panda [2][3][6]. Group 1: Background of the Dispute - The partnership between LeTV and Zhongdian Panda began in early 2019, with LeTV entrusting Zhongdian Panda to manufacture 400,000 televisions worth approximately 450 million yuan [2][3]. - LeTV's decision to partner with Zhongdian Panda was influenced by the latter's state-owned enterprise background and well-known brand reputation, despite LeTV's own financial difficulties at the time [2][8]. - Quality complaints arose shortly after product launches, with failure rates reported at nearly 20%, significantly higher than the industry standard of less than 2% [3][8]. Group 2: Quality Issues and Financial Implications - By March 2022, LeTV had received numerous user complaints regarding multiple television models, leading to substantial warranty costs, including 11,590 screen replacements and 2,160 full replacements [3][8]. - LeTV had to cover over 14 million yuan in after-sales costs due to Zhongdian Panda's failure to address warranty issues, despite the latter receiving compensation from upstream suppliers [10][11]. - The closure of Zhongdian Panda's Dongguan factory in October 2022, with only five days' notice, exacerbated the situation, leaving LeTV without a point of contact for resolving ongoing issues [3][11]. Group 3: Corporate Changes and Legal Proceedings - Zhongdian Panda changed its name to Nanjing Jingye Home Appliances Co., Ltd. in June 2024, shortly after a court ruling ordered it to compensate LeTV 13.57 million yuan for warranty costs [4][13]. - The company has faced scrutiny regarding its financial practices, including whether its registered capital was fully contributed and the implications of its ongoing losses [14]. - A related company, Dongguan Zhongdian Panda Technology Development Co., Ltd., has filed for bankruptcy liquidation against Zhongdian Panda, raising questions about the legitimacy of its financial practices [13][14]. Group 4: Broader Implications for the Industry - LeTV's public statement serves as a warning to other small and medium-sized enterprises about the risks of partnering with larger state-owned enterprises, emphasizing the importance of due diligence and risk management [15]. - The situation reflects broader issues within the industry regarding corporate governance, accountability, and the treatment of smaller partners by larger state-owned entities [15].

Core Viewpoint - LeEco publicly criticizes Nanjing Zhongdian Panda Home Appliances Co., Ltd. for its alleged illegal actions and poor product quality, stemming from a partnership that began in 2019, which has led to significant disputes and financial losses for LeEco [1][2]. Group 1: Background of the Dispute - The partnership between LeEco and Zhongdian Panda began in early 2019, with LeEco entrusting Zhongdian Panda to manufacture 400,000 televisions worth approximately 450 million yuan [1][8]. - Quality issues arose shortly after the products were launched, with a defect rate of nearly 20%, significantly higher than the industry standard of less than 2% [1][2][8]. - By March 2022, LeEco had incurred substantial costs, including over 14 million yuan in after-sales service fees due to the high defect rates of the televisions produced by Zhongdian Panda [2][10]. Group 2: Legal and Financial Implications - In June 2024, a court ruled that Zhongdian Panda must compensate LeEco 13.57 million yuan for after-sales service costs, but the company has since changed its name to Nanjing Jingye Home Appliances, raising concerns about asset protection [3][12]. - The ongoing financial struggles of LeEco, which still owes billions, contrast with Zhongdian Panda's alleged attempts to evade debt responsibilities through corporate maneuvers [7][9]. - The relationship between the two companies has deteriorated to the point where Zhongdian Panda's parent company has filed for bankruptcy liquidation, further complicating the situation for LeEco [13][14]. Group 3: Industry and Corporate Governance Concerns - The situation highlights broader issues within the industry, such as the challenges faced by small and medium-sized enterprises in protecting their rights against larger state-owned enterprises [6][15]. - LeEco's experience serves as a cautionary tale for other companies regarding the importance of due diligence and risk management when entering partnerships with larger firms [16].