Jia Yueting, founder of troubled streaming platform Leshi, and four companies, are being sued by a subsidiary of China’s state utility company, according to enterprise database site Qi Chacha. Yingda Capital Management, a Beijing-based subsidiary of China’s state grid, sued Jia Yueting and four other companies — LeSee, Smart Technology Holdings, FF Global Holdings, and Beijing Bairui media company — for unspecified contract violations (our translation). The case has been scheduled to have the first hearing in a Beijing intermediate court on Nov. 10. In addition to founding Netflix-like Leshi, Jia is the former CEO of electric car company Faraday Future. He declared personal bankruptcy in the US in 2020.
Read More