The consumption restriction order also shows that Cao Yue, an executive applicant filed by the Shanghai Jiading District people's Court on August 12, 2019, applied for the enforcement of other contract disputes of Shanghai Panda Mutual Entertainment Culture Co., Ltd., because panda mutual entertainment failed to fulfill its payment obligations as determined by the legal instrument of entry into force within the period specified in the notice of implementation, and was taken to restrict consumption measures to restrict Shanghai Panda Mutual Entertainment Culture Co., Ltd and its legal representative, Wang Sicong, the person directly responsible for the performance of the debt, shall not carry out high consumption and consumption that is not necessary for life and work.

l name and promised a 10 per cent interest cost per year. In March 2018, the fish and the tiger teeth also received an investment of $hundreds of millions of dollars; a night after a year, The panda live broadcast COO Zhang Juyuan official document to confirm the bankruptcy. In order to compete with the tiger's teeth and the fish, Mr. Wang was in charge of digging the main cast. Wang Sicong, according to the report, opened a price close to 100 million yuan for the main broadcasting of PDD and Cosette on Tuesday. The huge cost, such as the main sowing and the like, has made the live of the panda live in a state of great loss. Public data display, Panda live broadcast in 2015 The loss is about 50 million yuan, with a loss of 500 million yuan in 2016 and a loss of 800 million yuan in 2017. In 2017, the panda has no access to any financing.

In 2011, Wang Sicong acquired the CCM team and changed its name to IG Club. Subsequently, Wang Sicong's investment was concentrated in entertainment, game industry. IG Club, Banana Culture and Panda Live became the three fulcrums of Wang Sicong's layout in the pan-cultural and entertainment industry. In 2015, Letv was in the limelight and became the object of many investors scrambling for it. Pushi Capital was no exception. Finally, he took part in round A financing of Letv Sports with 120 million yuan, owned 3.96 percent of Letv Sports shares, and became the eighth largest shareholder of Letv Sports. However, in less than a year, Letv Sports lent 4 billion yuan to its related party Letv Holdings without authorization, in many cases. Among the claimants, Pussie Capital is one of them, with a claim amount of 97.8516 million. At the end of December 2017, the live answer quietly rose, and Wang Sicong immediately spilled money. As a result, the tuyere was cool before the Spring Festival arrived. After smashing 200 million yuan in Le Le tea, he was accused of plagiarizing Changsha tea drinking head brand "tea color" and collapsing word of mouth. Then, his investment in vitavp only e-cigarettes, before the fire, ushered in the "no smoking order" of e-cigarettes. Panda live fall, Wang Sicong's own business territory also gradually fell like domino. On July 15 this year, Wang Sicong's Shanghai Banana Program Culture Development was limited. The company, Shanghai Banana Plan Entertainment Culture Co., Ltd. in the new share freeze warning message, the subject is Wang Sicong, the amount of frozen shares is 68.5 million yuan, 2.7 million yuan. Since then, Wang Sicong owns 80% of Shanghai Crystal Litchi Entertainment Culture Co., Ltd., and then "500 million pocket money" has been established by the Pushi capital has been frozen by the judiciary.

A week before he was exposed to "deadbeat", Wang Sicong was found empty his weibo by netizens with sharp eyes. However, in the opinion of the public opinion, he is silent.

The public information shows that Cao Yuhe is the main broadcasting "Pi Xixiu" of the game of the Shanghai Panda Mutual-Culture Co., Ltd., and is subject to the original company's claim after being dug into the corner by the panda. In the opinion of Cao Yue, according to the agreement, the pandas should be compensated for each other, but the pandas do not pay for each other. Cao Yue, therefore, brought the pandas to the court. The final court awarded compensation of 369.99 million yuan, and Mr. Wang Sig, as the chairman, was restricted to high consumption. In fact, the prosecution of Cao Yue only overtook the last straw of the camel, the management's inner hopper, the big master cast off the farm, the fund chain broke. The live broadcast of the panda has long gone to the edge of the cliff. In May 2017, the live broadcast of the panda was announced The $1 billion B-wheel financing, media reports said it was the result of Mr. Wang's persona

In fact, the prosecution of Cao Yue only overtook the last straw of the camel, the management's inner hopper, the big master cast off the farm, the fund chain broke. The live broadcast of the panda has long gone to the edge of the cliff. In May 2017, the live broadcast of the panda was announced to receive a 10-billion-yuan B-wheel financing, and the media reported that it was the result of Mr. Wang's personal name as a guarantee and promised a 10 per cent interest cost per year. In March 2018, In the same time, the fish and the tiger teeth won the investment of the Tencent's hundreds of millions of dollars; one night after a year, the panda's live broadcast COO, Zhang Juyuan, made a formal document to confirm the bankruptcy. In order to compete with the tiger's teeth and the fish, Mr. Wang was in charge of digging the main cast. it is reported that, In order to dig for PDD, Mr. Wang, on Tuesday, offered a price close to 100 million yuan. The huge cost, such as the main sowing and the like, has made the live of the panda live in a state of great loss. The public data show that the loss of the live broadcast of the panda in 2015 is about 50 million yuan, with the loss of 500 million yuan in 2016, and the loss of RMB 800 million in 2017. In 2017, the panda has no access to any financing.

On Nov. 9, Wang Sicong was issued by the people's Court of Jiading District in Shanghai on October 12 to restrict consumption, that is, Wang Sicong was not allowed to fly, high-speed rail, or spend heavily in star-rated hotels, nightclubs, golf courses and other places. According to this information, Wang Sicong is indeed listed as a restricted high consumer, but is not listed as the executor of breach of trust, that is, "Lao Lai." Professor Liu Junhai, director of the Institute of Commercial Law at Renmin University of China Law School, said that the consumption restriction order is not yet a breach of trust, and that if the high consumption restriction order is violated, it may be included in the list of breach of trust, according to Professor Liu Junhai, director of the Institute of Commercial Law of Renmin University Law School. Logic of the Court The collection is that since you have no money, you can't spend too much. "this measure, which is equivalent to the measure during the observation period, has the characteristics of stages and aims to urge the person to pay the debt in full and on time as soon as possible. If the executor fulfilled his debt, he would not be blacklisted for breach of trust. If the executed person not only fails to fulfill his debt, but also violates the limit, he will be blacklisted for breach of trust. "