Letv is a streaming video site that also produces its own branded smart TV. The company planned
to raise investment financing to strengthen its core businesses, and expand into retail and online financial services.
The brand also enhanced its content offering with agreements that included a multi-year partnership with the NBA, in which Letv will air games of the National Basketball Association and programs featuring game highlights.
In addition, the brand established subsidiaries in the United States for Internet and smart TV research and development, and for video production. And it acquired a Chinese film and TV production company.
Net income rose 31 percent to $25 million in the first half of 2014, on a 294 percent jump in revenue to $474 million. For the full year 2013, net income rose 35 percent to $41 million on a 114 percent revenue rise to $380 million. Letv was listed on the Shenzhen Stock Exchange in 2010.