Why Sun Hongbin took a shine to LeEco

The Chinese property tycoon's bold investment in a sprawling, troubled technology play raised eyebrows. Investors are nervous, but there are grounds for optimism, too.

Why Sun Hongbin took a shine to LeEco

When Jia Yueting, the founder of Chinese technology company LeEco, got a visit from one of the country’s billionaire property tycoons in December, he thought it would be little more than an informal catch-up, according to someone close to the situation. But as Sun Hongbin peppered the younger man with questions, it was clear he had something very specific in mind.

Sun, the chief executive of Sunac China Holdings, asked Jia...

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