Categories: Social Media News

Letv.com To Invest CNY6.3 Million For New Subsidiaries

Chinese Internet video company Letv.com has announced that it will invest about CNY6.3 million to set up wholly-owned subsidiaries in Hong Kong and Taiwan to expand the overseas market and improve its visibility.

Letv.com held the 28th meeting of its first board meeting on May 30, 2011, and the company reportedly approved the plans for setting up wholly-owned subsidiaries in Hong Kong and Taiwan.

Its Hong Kong subsidiary will be temporarily named “Le Shi Internet Information & Technology (Hong Kong) Limited”, with registered capital of USD800,000 and an operating period of ten years; while its Taiwan subsidiary will be temporarily named “Le Shi Internet Information & Technology Limited”, with registered capital of NTD5 million and an operating period of 20 years. Both of the two subsidiaries will focus on the Internet video business on PCs, mobile terminals, and TV terminals.

Letv.com said that the establishment of the subsidiaries aims to raise the company’s visibility and influence, to introduce its products to the overseas market, and to further promote the growth of its overall business and revenue.

Social Media Asia Editor

Recent News

In China, cat owners are using Covid pills to treat fatal feline infectionIn China, cat owners are using Covid pills to treat fatal feline infection

In China, cat owners are using Covid pills to treat fatal feline infection

With cases of Feline Infectious Peritonitis (FIP) on rise in China, cat owners are making…

4 hours ago
3 cases of HMPV in India: How the country is preparing to stop spread of virus3 cases of HMPV in India: How the country is preparing to stop spread of virus

3 cases of HMPV in India: How the country is preparing to stop spread of virus

Two cases of the Human Metapneumovirus (HMPV) virus have been reported in Karnataka and one…

5 hours ago
Is HMPV Similar To Covid-19, How Does It Spread? All You Need To Know About The DiseaseIs HMPV Similar To Covid-19, How Does It Spread? All You Need To Know About The Disease

Is HMPV Similar To Covid-19, How Does It Spread? All You Need To Know About The Disease

Curated By :Edited By:Last Updated:January 06, 2025, 14:20 ISTBoth HMPV and Covid-19 share many similarities,…

5 hours ago
Pubs, restaurants and cafés we welcomed to Cornwall in 2024Pubs, restaurants and cafés we welcomed to Cornwall in 2024

Pubs, restaurants and cafés we welcomed to Cornwall in 2024

Cornwall is celebrated as a top 'foodie' destination, boasting seasonal local produce and the freshest…

6 hours ago
This Investment Scam Targets Unemployed, Students, Homemakers, Know What Is Pig ButcheringThis Investment Scam Targets Unemployed, Students, Homemakers, Know What Is Pig Butchering

This Investment Scam Targets Unemployed, Students, Homemakers, Know What Is Pig Butchering

Curated By :Last Updated:January 06, 2025, 11:30 ISTPig Butchering Scam Explained: The fraud is believed…

6 hours ago
2025 Golden Globes: The best, worst and weirdest moments from a show that probably shouldn’t exist2025 Golden Globes: The best, worst and weirdest moments from a show that probably shouldn’t exist

2025 Golden Globes: The best, worst and weirdest moments from a show that probably shouldn’t exist

It was only two years ago that the Golden Globe Awards — Hollywood’s second- (or…

8 hours ago