以下文章来源于21世纪经济报道 ，作者21记者 21世纪经济报道 . 权威、专业、深度、有趣！用经济思维看世界。 互联网新闻信息服务许可证编号：44120180007 乐视网的负债总额已攀升至230.09亿元， 而同期公司资产仅剩8.62亿元。 文 ｜ 李益文 编辑 ｜ 叶映橙 来源｜ 21世纪经济报道（ID：jjbd21） 封面来源 ｜ IC photo 超过230亿元的巨额债务压顶，乐视网（400084.NQ）却再度抛出一份1.8亿元的炒股计划，这家曾经的创业板"一哥"在退市五年 后，再度引发市场关注。 12月2日晚，已退市至全国股转系统交易的乐视网发布公告，宣布拟利用不超过1.8亿元自有资金进行证券投资，投资范围包括北 交所新股认购、二级市场自由买卖的股票以及国债逆回购。 根据公告细节， 这一投资额度中至少有1.5亿元将专门用于北交所新股认购和国债逆回购，剩余不超过3000万元可投资二级市场 股票 ，且有严格限制银行股比例不低于50%，沪深300指数成份股不低于80%。 这并非乐视网今年首次公布炒股计划。 今年4月28日，乐视网就曾公告称，拟投资北交所新股认购、二级市场自由买卖的股票、国债逆回购， 彼时 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 来源：南财社 负债238亿，还要拿1.8亿出来炒股？ 这一魔幻的故事，发生在已从A股退市的乐视网身上。 12月2日，乐视网发布公告称，为了获得投资效益，在不影响公司主营业务正常发展的前提下，公司拟 利用自有资金购买股票获得额外的资金收益。投资额度总计不超过1.8亿人民币。 甚至还详细公布了"炒股计划"。比如二级市场自由买卖的股票总市值不超过 3000万，买银行股的比例 不低于50%，买沪深300指数成份股不低于80%，参与北交所新股认购和国债逆回购总金额不低于1.5亿 元．．．．．． 看来，乐视网着实是眼红这波牛市啊。但网友大为困惑：身负百亿负债，还拿钱来"炒股"，乐视究竟什 么情况？《甄嬛传》的老本，不够吃了？ 01 没有老板、上四休三 乐视员工成为互联网牛马最羡慕的人 能过上如此舒坦的日子，多亏了当年乐视网买下了《甄嬛传》《芈月传》等经典大热的影视版权，靠着 运营和版权授权，乐视网基本上可以躺着赚钱。 追根溯源，这还得多亏贾跃亭。 2004-2009年间，视频网站盗版大行其道之时，贾跃亭却兵行险招，大批采购当时卖出"白菜价"的影视 ...

Core Viewpoint - The company plans to utilize its own funds to invest in stocks and other financial instruments to enhance investment returns without affecting its main business operations [1][4]. Investment Strategy - The total investment amount will not exceed 180 million yuan, which includes investments in new shares on the Beijing Stock Exchange, stocks traded in the secondary market, and reverse repos of government bonds [1][4]. - The company has detailed a "stock trading plan" where the total market value of stocks in the secondary market will not exceed 30 million yuan, with at least 50% allocated to bank stocks and at least 80% to stocks in the CSI 300 index [4]. Risk Management - The company emphasizes that a minimum of 150 million yuan will be allocated to new shares on the Beijing Stock Exchange and reverse repos of government bonds, with the latter considered a low-risk investment that offers higher returns than bank savings [4]. Company Background - Founded in November 2004, the company was the first video website to go public in China and has notable productions such as "Empresses in the Palace" and "The Legend of Mi Yue" [4]. - As of the end of 2024, the company has a total of 159 employees [4]. Ownership and Financial Status - The company is associated with LeEco and its largest shareholder is Jia Yueting, holding a 13.77% stake [6]. - The company is currently a subject of enforcement actions with a total amount of approximately 120 million yuan, along with multiple records of credit defaults and restrictions on high consumption [6]. Personal Branding Efforts - Jia Yueting has initiated a personal branding strategy by launching a store on Douyin to sell merchandise related to Faraday Future, aiming to raise funds and repay debts [7].

Core Viewpoint - LeEco, once a leading company in the entrepreneurial board, is under significant financial pressure with over 23 billion yuan in debt, yet it has announced a new investment plan of 180 million yuan in stock trading, raising concerns about its financial health and sustainability [1][4]. Group 1: Investment Plans - LeEco plans to use up to 180 million yuan of its own funds for securities investment, focusing on new stock subscriptions on the Beijing Stock Exchange, secondary market stock trading, and reverse repos of government bonds [1]. - At least 150 million yuan of this investment will be allocated specifically for new stock subscriptions and reverse repos, with a maximum of 30 million yuan for secondary market stocks, imposing strict limits on bank stocks (at least 50%) and stocks in the CSI 300 index (at least 80%) [1][4]. - This is not the first investment plan announced by LeEco this year; a previous plan in April had a much smaller investment cap of 50 million yuan [3]. Group 2: Financial Condition - As of September 30, 2025, LeEco's total liabilities reached 23.009 billion yuan, while its assets were only 862 million yuan, indicating a severely imbalanced asset-liability structure [4]. - The company reported a revenue of 115 million yuan for the first three quarters of 2025, a year-on-year decrease of 2.88%, and a net loss that widened from 173 million yuan in the previous year to 242 million yuan [4]. - The company's asset-liability ratio has reached an alarming level of 2667.83%, with net assets attributable to shareholders being negative 2.1545 billion yuan [4]. Group 3: Historical Context - LeEco was founded in November 2004 and was the first video website to go public in China, achieving a market value of over 170 billion yuan in 2015 [5]. - The company faced a financial crisis at the end of 2016, leading to investigations by the China Securities Regulatory Commission in 2019 for information disclosure violations, and it was delisted in July 2020 [5]. - Following its delisting, LeEco transitioned to the New Third Board for trading but has remained in a long-term suspension state, with a total market value of 1.2 billion yuan as of December 4 [5].

Core Viewpoint - LeEco, once a leading company in the entrepreneurial board, is under significant financial pressure with over 23 billion yuan in debt, yet it has announced a new investment plan of 180 million yuan in stock trading, raising concerns about its financial health and investment strategy [1][5][6]. Financial Situation - As of September 30, 2025, LeEco's total liabilities reached 230.09 billion yuan, while its assets were only 8.62 billion yuan, indicating a severely imbalanced asset-liability structure [5][6]. - The company's asset-liability ratio has soared to an alarming 2667.83%, with net assets attributable to shareholders being negative 215.45 billion yuan [6]. Investment Plans - LeEco plans to invest up to 180 million yuan, with at least 150 million yuan allocated for new stock subscriptions on the Beijing Stock Exchange and reverse repos of government bonds, while the remaining 30 million yuan can be used for secondary market stock purchases [1][5]. - The company emphasizes that these investments will not interfere with its main business operations and will be managed by professional personnel to enhance risk control [5]. Historical Context - LeEco was once the only profitable video website listed in China, with a market value exceeding 170 billion yuan in 2015, but it faced a financial crisis in late 2016, leading to its delisting in 2020 [6][7]. - The company has previously announced investment plans, including a 50 million yuan investment in stock trading earlier in 2025, which indicates a pattern of seeking investment opportunities despite its financial struggles [4][5].

Core Viewpoint - The report highlights the challenges faced by elderly users when seeking customer service through mobile applications, emphasizing the need for better access to human customer support rather than relying solely on automated systems [1]. Group 1: User Experience Challenges - Elderly users often struggle to find customer service options within apps, leading to frustration when they encounter issues [2]. - Many platforms utilize automated customer service that fails to address the specific needs of older users, resulting in generic responses that do not resolve their problems [2][3]. - The reliance on automated systems can lead to disconnection during conversations, further aggravating the user experience for elderly individuals who may take longer to communicate their issues [2][3]. Group 2: Preference for Human Interaction - Elderly users express a strong preference for direct communication with human representatives rather than navigating through automated menus [3]. - The complexity of automated systems often leads to confusion, as users may struggle to find the correct options to reach human support [3][4]. - There is a notable demand for a more straightforward approach to customer service that prioritizes human interaction, especially for older demographics [5]. Group 3: Industry Recommendations - Experts suggest that companies should balance the use of automated and human customer service to enhance user experience, particularly for older users [5]. - Implementing features like "one-click transfer to human support" is recommended to ensure that customer service systems serve as effective tools rather than obstacles [5].

Core Viewpoint - The dramatic personal and professional trajectories of Wang Wei and Yang Lei, once a power couple in the Chinese internet industry, illustrate the profound impact of personal relationships on business outcomes and the evolution of the industry itself [1][12]. Group 1: Company Development - Wang Wei founded Tudou in 2005, capturing the burgeoning video-sharing market in China, coinciding with YouTube's early days [3]. - Tudou's rapid user growth was significantly aided by Yang Lei's media connections, which helped attract investments and celebrity endorsements [4]. - The company's plans for a NASDAQ listing were thwarted by a legal dispute initiated by Yang Lei, who sought to claim 38% of the company's shares, leading to a freeze on assets [6][8]. Group 2: Market Competition - The legal battle between Wang Wei and Yang Lei allowed competitors like Youku to gain a strategic advantage, ultimately leading to Tudou's merger with Youku in 2012 [8]. - The merger marked a significant shift in the competitive landscape of the Chinese video-sharing market, with Tudou losing its independent status [8]. Group 3: Personal Outcomes - Post-divorce, Wang Wei successfully transitioned into the animation industry, founding Light Chaser Animation and achieving significant box office success with films like "White Snake: Origin," which grossed 1.7 billion [9]. - Yang Lei continued her career in media, becoming a well-known family mediation expert on television, maintaining a stable yet less dynamic professional trajectory compared to Wang Wei [11]. Group 4: Long-term Impact - The fallout from their divorce and subsequent legal battles not only altered their personal lives but also had lasting implications for the Chinese internet and media landscape, highlighting the intertwining of personal and professional realms [12].