(Yicai Global) Oct. 23 -- Leshi Internet Information and Technology Corp. (Beijing) [SHE:300104] (LeTV) has denied rumors that it will abandon its television unit, saying that it remains one of the group's core businesses and production is recovering.

LeTV's equity structure, top management team and business focus have undergone major changes as the firm suffered a financial crisis this year. Rumors that the company would ditch its TV business made the rounds after LeTV said last month that it planned to rebrand as New Le Shi Information & Technology Corp.

LeTV's TV production is improving, the industrial chain of each link is being rebuilt and it is imperative for LeTV to regain the trust of its partners and users, Securities Daily quoted an officer at the company as saying today.

The enterprise's innovative large-screen, high-performance, leading industrial design is widely-recognized, and the TV unit will be one of New Le Shi's main businesses, the officer said.

The firm's TV production and sales volume has dropped since last year, and whether the company can pull through remains to be seen.