YH ENT (02306) fell more than 6%, with its current share price down over 30% from its peak in June this year. At the time of writing, the stock dropped 6.03% to HKD 2.18, with a turnover of HKD 3.84 million.

Market sentiment was affected as topics such as "Wang Yibo Not Renewing Contract with YH ENT" and "YH ENT Plunges" trended on Weibo on November 6. According to reports, YH ENT's investor relations department stated in response to media inquiries: "His (Wang Yibo) contract with the company is originally set to expire next year. Please wait for our official announcement then."

It is reported that in 2024, YH ENT's total revenue reached RMB 765 million, of which Wang Yibo contributed RMB 459 million, accounting for over 60%. Wang Yibo's contract with YH ENT is set to expire in October 2026, and any changes in their partnership are being closely watched.

In the first half of this year, YH ENT reported revenue of RMB 414 million, a year-on-year increase of 19.28%, while net profit attributable to shareholders rose 88.66% to RMB 58.1 million. According to its financial report, apart from artist management and music IP production and operations, YH ENT continued to develop its IP operations business, generating revenue of RMB 20.6 million in H1, up 128% YoY.