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BEIJING Wholesale San Francisco 49ers Jerseys , Jan. 24 (Xinhua) -- Shares of Leshi Internet Information and Technology, the listed arm of technology conglomerate LeEco, slumped by the daily limit of 10 percent at market opening Wednesday after the stock restarted trading.

The plunge came after a suspension since April last year, when the company said in a filing on the Shenzhen Stock Exchange that it was contemplating capital restructuring.

The planned deal to acquire a film arm from the troubled LeEco was finally dropped due to LeEco's financial woes.

LeEco was in deep water in the past year as the company's aggressive expansion into electric cars and other markets resulted in rapid build-up of debt.

LeEco founder Jia Yueting was said to owe about 7.5 billion yuan (1.17 billion U.S. dollars) to Leshi together with his affiliates Wholesale Pittsburgh Steelers Jerseys , according to Leshi.

Jia, currently in the United States, was ordered by China's securities regulator to return to China to deal with the mounting debt trouble.

Leshi said in a recent filing with the exchange that it had seen sharp declines in revenue and a surge in financing costs in 2017. It also claimed difficulty in collecting receivables and tight cash flow situation.

The smart TV maker expected a net profit loss for 2017 and warned investors of operation difficulty.

Net profit attributable to shareholders slumped 435 percent year-on-year in the first three quarters and resulted in a loss of about 1.65 billion yuan.

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Chinese Premier Li Keqiang said on Wednesday that the country will continue opening up and reform, and make the economy more competitive and innovative.

  Chinese Premier Li Keqiang presides over a meeting soliciting opinions on the annual government work report from non-Communist parties Wholesale Philadelphia Eagles Jerseys , All-China Federation of Industry and Commerce and those without party affiliations, in Beijing, capital of China, Jan. 24 Wholesale Oakland Raiders Jerseys , 2018. Chinese Vice Premier Zhang Gaoli and Wang Yang, vice premier and also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, also attended the meeting. (XinhuaPang Xinglei)

Li made the remarks at a meeting on the annual government work report with non-Communist parties, the All-China Federation of Industry and Commerce and those without party affiliations in Beijing.

The economy has solid fundamentals Wholesale New York Jets Jerseys , but it faces difficulties and challenges, Li said, calling for efforts to win ""three tough battles,"" namely major risks Wholesale New York Giants Jerseys , poverty alleviation and pollution.

Wan Exiang, chairman of the Revolutionary Committee of the Chinese Kuomintang (RCCK), suggested measures to prevent financial risks and reduce the extracurricular burden of school children.

Ding Zhongli, chairman of the Central Committee of the China Democratic League (CDL) Wholesale New Orleans Saints Jerseys , made suggestions on environmental protection and strategies on developing emerging industries.

The work report is scheduled to be published in March.


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