LeEco business plan criticized by its investors

Chinese internet firm LeEco said it is talking with strategic investors and that trading in shares of LeEco's listed company, Leshi Internet Information and Technology Corp, will continue to be suspended.

LeEco said it has already recruited a financial adviser to conduct due diligence and has prepared documents related to further negotiations with strategic investors, according to a statement of the company.

The statement also said that in order to ensure the important issues go smoothly and to avoid fluctuations of the stock price, trading of its listed arm will continue to be halted on Shenzhen Stock Exchange.