(Yicai Global) Jan. 19 -- Struggling conglomerate LeEco's listed arm will stop investing in the group's film production and distribution division after court's froze its parent firm's equity in the division.

The public unit, Leshi Internet Information and Technology Beijing Co., announced the news today.

Group head Leshi Holding Beijing Co's 21.81-percent stake in Le Vision Pictures is still frozen as the holding firm looks to settle its swamp of debts. The parent company owes the film unit CNY1.7 billion (USD267 million).

As Leshi Holding has no solid plan to repay its subsidiary and is unlikely to have the assets released, the listed company won't approve the transaction. The decision will not adversely affect Leshi Internet's production or operations, the statement said.

Leshi Internet suspended trading in April and has not yet resumed. Since the pause, funds with large shareholdings have lowered the stock's value to CNY3.91 (USD0.6) from CNY15.33 before trading halted.