Recent reports suggesting actor Wang Yibo will not renew his contract with YH ENT (02306.HK) have sparked widespread attention. On November 6, YH ENT's chairwoman Du Hua posted a Weibo response calling the rumors "absurd."

As of press time, YH ENT's stock fell 5.603% today. The company's shares have been declining steadily since the second half of this year, dropping 12.69% in October alone. From June 20 to date, the stock has plunged over 40%.

YH ENT listed on the Hong Kong Stock Exchange on January 19, 2023, becoming the "first artist management stock." Founded in 2009, YH ENT is currently China's largest artist management company, representing talents including Wang Yibo. Its business spans the entire artist management value chain from training to promotion, operating three complementary segments: artist management, music IP production/operations, and pan-entertainment.

As YH ENT's pillar artist, Wang Yibo contributes significantly to the company's revenue. Disclosures show his contribution grew from 16.8% of total revenue in 2019 to 59% in the first three quarters of 2022. In 2024, Wang accounted for 459 million yuan (60%) of YH ENT's 765 million yuan total revenue.

YH ENT's investor relations department stated: "His contract isn't due until next year. Please wait for our official announcement." Regarding reports that Wang drove 62.3% of revenue in YH ENT's 2024 annual report and 2025 interim report while supporting its IPO and stock price, the department noted his revenue share is gradually decreasing.

Corporate records show Wang is linked to four companies, three of which are active, including Beijing Boyuan Culture Technology and Shanghai Yibo Culture Media Studio. Tianjin Horizon Network Technology, 70% owned by Wang, has registered multiple trademarks for "Wang Yibo," "Yebo," and related names across categories like cosmetics, musical instruments, and jewelry.