(Yicai Global) July 20 -- Sun Hongbin, chairman of Sunac China Holdings Ltd. [HKG:1918], will run for chairman of Leshi Internet Information and Technology Corp. [SHE:300104], LeEco's listed arm, at the latter's board meeting today, the Securities Times reported yesterday, citing a LeEco insider.

A new board was elected at a shareholders meeting on July 17, which will now hold a meeting to elect and announce the firm's new chairman.

The head of Sunac, which pumped USD2.18 billion in to LeEco in January, held a press briefing on July 18 to say the firm will select its new chairman on July 20. However, media reports quoted the firms public relations team as saying today that the company will hold a board meeting on July 21, and a new chairman will not be elected today.

Sun has been pegged as favorite to take over from Jia Yueting, the firm's founder and former chairman who recently resigned. However, Sun said recently that he doesn't want to take on the role.

"Sunac's business is far bigger than LeEco's," he said, "I've nominated two directors for the firm, Liang Jun and Zhang Zhao. They will vote in tandem with me. I have five of the eight board seats, but I haven't looked at whether I should be nominated as chairman."