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].