Core Viewpoint - Recent news indicates that actor Wang Yibo will not renew his contract with Lehua Entertainment, leading to significant market reactions and a drop in the company's stock price [2][3]. Group 1: Company Overview - Lehua Entertainment, listed on the Hong Kong Stock Exchange since January 19, 2023, is recognized as the "first stock in artist management" and is the largest artist management company in China, established in 2009 [5]. - The company operates across the entire artist management value chain, including artist training, operations, and promotion, and encompasses three complementary business segments: artist management, music IP production and operation, and pan-entertainment [6]. Group 2: Financial Impact - Wang Yibo has been a significant revenue contributor for Lehua Entertainment, with his contribution rising from 16.8% of total revenue in 2019 to 59% in the first three quarters of 2022. In 2024, he is expected to contribute approximately 4.59 billion yuan, accounting for over 60% of the company's total revenue [6]. - The stock price of Lehua Entertainment has been on a downward trend, with a 9.48% drop on the latest trading day and a total decline of over 40% since June 20 of this year, including a 12.69% drop in October alone [3]. Group 3: Wang Yibo's Business Ventures - Wang Yibo is associated with four companies in the technology and media sectors, three of which are currently operational. He holds various positions, including legal representative and shareholder [7]. - Notably, Wang Yibo owns 70% of Tianjin Diheng Network Technology Co., Ltd., which has applied for multiple trademarks related to his name, indicating a strategic move to expand his brand presence [7].

Core Viewpoint - Recent news indicates that actor Wang Yibo will not renew his contract with Lehua Entertainment, leading to significant market reactions and a drop in the company's stock price [3][4]. Group 1: Company Overview - Lehua Entertainment, listed on the Hong Kong Stock Exchange on January 19, 2023, is recognized as the "first stock in artist management" and is currently the largest artist management company in China [7]. - The company was established in 2009 and operates across the entire artist management value chain, including artist training, operations, and promotion [7]. Group 2: Financial Impact of Wang Yibo - Wang Yibo has been a crucial asset for Lehua Entertainment, contributing 16.8% of the company's revenue in 2019, which surged to 59% in the first three quarters of 2022 [7]. - In 2024, Lehua Entertainment reported total revenue of 765 million, with Wang Yibo contributing approximately 459 million, accounting for over 60% of the total revenue [7]. - The investor relations department stated that Wang Yibo's revenue contribution is gradually decreasing, despite his significant impact on the company's financials [8]. Group 3: Wang Yibo's Business Ventures - Wang Yibo is associated with four companies in the technology and media sectors, three of which are currently operational [8]. - He holds a 70% stake in Tianjin Horizon Network Technology Co., Ltd., which has applied for multiple trademarks related to his name and brand [8].

Core Viewpoint - Lehua Entertainment's stock price has been declining significantly in the second half of this year, with recent news about actor Wang Yibo not renewing his contract causing widespread concern [1] Group 1: Stock Performance - Lehua Entertainment's stock price fell by 5.603% on the day of reporting [1] - The stock has seen a decline of 12.69% in October and over 40% since June 20 of this year [1] Group 2: Company Overview - Lehua Entertainment, listed on the Hong Kong Stock Exchange on January 19, 2023, is the largest artist management company in China, covering the entire value chain of artist management [1] - The company was founded in 2009 and includes three main business segments: artist management, music IP production and operation, and pan-entertainment business [1] Group 3: Contribution of Wang Yibo - Wang Yibo's contribution to Lehua's revenue increased from 16.8% in 2019 to 59% in the first three quarters of 2022 [1] - In 2024, Lehua's total revenue is projected to be 765 million, with Wang Yibo contributing approximately 459 million, accounting for over 60% [1][2] - The investor relations department indicated that Wang Yibo's revenue contribution is gradually decreasing [2] Group 4: Wang Yibo's Business Ventures - Wang Yibo is associated with four companies, three of which are currently active, including Beijing Boyuan Cultural Technology Co., Ltd. and Shanghai Yibo Cultural Media Studio [2] - He holds a 70% stake in Tianjin Horizon Network Technology Co., Ltd., which has applied for multiple trademarks related to his name in various international classifications [2]

Group 1 - Lehua Entertainment (02306.HK) has experienced a decline of over 6%, with its current stock price at 2.18 HKD, reflecting a drop of more than 30% from its peak in June this year [2] - The trading volume for Lehua Entertainment reached 3.84 million HKD at the time of reporting [2]

Core Viewpoint - Lehua Entertainment's stock has dropped over 6%, with its current price down more than 30% from the peak in June 2023, amid concerns regarding the contract status of popular artist Wang Yibo [1] Financial Performance - For the first half of the year, Lehua Entertainment reported revenue of 414 million yuan, a year-on-year increase of 19.28% [1] - The company's net profit attributable to shareholders was 58.1 million yuan, reflecting a significant year-on-year increase of 88.66% [1] - The IP operation business generated revenue of 20.6 million yuan during the same period, marking a substantial year-on-year growth of 128% [1] Artist Contribution - Wang Yibo is projected to contribute 459 million yuan to Lehua Entertainment's total revenue of 765 million yuan in 2024, accounting for over 60% of the total [1] - The contract between Wang Yibo and Lehua Entertainment is set to expire in October 2026, making any changes in their partnership a focal point for investors [1]

Core Viewpoint - Lehua Entertainment's stock has dropped over 6%, with a decline of more than 30% from its peak in June 2023, amid speculation regarding the non-renewal of popular artist Wang Yibo's contract [1] Financial Performance - In the first half of the year, Lehua Entertainment reported revenue of 414 million yuan, a year-on-year increase of 19.28% [1] - The company's net profit attributable to shareholders was 58.1 million yuan, reflecting an increase of 88.66% year-on-year [1] - The IP operation business generated revenue of 20.6 million yuan during the same period, marking a significant growth of 128% year-on-year [1] Contractual Details - Wang Yibo's contribution to Lehua Entertainment's total revenue for 2024 is projected to be 459 million yuan, accounting for over 60% of the total revenue of 765 million yuan [1] - The current contract between Wang Yibo and Lehua Entertainment is set to expire in October 2026, with changes in their partnership being closely monitored [1]

Core Viewpoint - Recent rumors suggest that actor Wang Yibo will not renew his contract with Lehua Entertainment and may establish a personal studio, which has garnered significant attention. Lehua Entertainment's chairman, Du Hua, labeled these rumors as "absurd" in a statement on November 6 [1][2]. Group 1: Company Overview - Lehua Entertainment, founded in 2009, is a comprehensive artist management company involved in artist agency, music IP production and operation, and the broader entertainment industry [2]. - The company went public on the Hong Kong Stock Exchange in 2022, and its prospectus mentioned Wang Yibo 18 times, leading the market to refer to it as a "Wang Yibo concept stock" [2]. Group 2: Financial Performance - Lehua Entertainment's stock price has been on a downward trend, with a decline of 12.69% in October and a cumulative drop of over 28% in the second half of the year [2]. - Wang Yibo's personal business income has historically accounted for over 60% of Lehua Entertainment's total revenue [2]. Group 3: Shareholding and Contractual Details - Wang Yibo is estimated to hold no more than 3.82 million shares in Lehua Entertainment, and his name does not appear on the list of major shareholders [2]. - His contract with Lehua Entertainment is set to expire in October 2026, making the decision on whether to renew a focal point for both the capital market and the entertainment industry [2].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年10月31日 | | | | 狀態: 新提交 | | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | 公司名稱: | 乐华娱乐集团 | | | | | | 呈交日期: | 2025年11月6日 | | | | | | I. 法定/註冊股本變動 | | | | | | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | 證券代號 (如上市) | 02306 | 說明 | | | | 本月底法定/註冊股本總額： USD 200,000 FF301 第 1 頁 共 10 頁 v 1.1.1 法定/註冊股份數目 面值 法定/註冊股本 上月底結存 2,000,000,000 USD 0.0001 USD 200,000 增加 / 減少 (-) 0 USD 0 本月底結存 2,000,000,000 USD 0.0001 USD 200,000 FF301 II. 已發行股份 ...

Core Viewpoint - Lehua Entertainment, heavily reliant on artist Wang Yibo, has seen a significant decline in stock price, with a 12.31% drop in October and over 28% in the second half of the year, raising concerns about the future of their partnership as Wang Yibo's contract expires in October 2026 [2] Group 1: Financial Performance - In 2024, Lehua Entertainment reported total revenue of 765 million yuan, with Wang Yibo contributing 459 million yuan, accounting for over 60% of total revenue [2] - The company's 2025 interim report showed revenue of 414 million yuan in the first half, a year-on-year increase of 19.3%, and a net profit of 58.1 million yuan, up 88.7% year-on-year [3] - The artist management segment remains the primary revenue source, contributing 86.2% of total revenue, while music IP production and operation, and IP operation account for 8.8% and 5.0%, respectively [3] Group 2: Business Segments - Revenue from artist management increased from 303 million yuan to 357 million yuan, driven by a rise in commercial activities involving artists [3] - Music IP production and operation revenue saw a slight increase from 35.05 million yuan to 36.70 million yuan, while IP operation revenue surged by 128.0% to 20.61 million yuan, attributed to increased income from artist-related merchandise [3] - The company aims to diversify its development in artist management, music IP, and IP operation to seize market opportunities and promote sustained growth across all business segments [3]

Core Viewpoint - The speculation surrounding Wang Yibo's potential departure from Lehua Entertainment has gained significant attention, with indications that his contribution to the company's revenue is gradually declining [2][4][17]. Group 1: Wang Yibo's Contract Status - Wang Yibo's contract with Lehua Entertainment is set to expire in October 2026, and he has historically contributed over 60% of the company's revenue [4][17]. - Lehua Entertainment's investor relations department stated that any announcements regarding Wang Yibo's departure will be made officially, and his contract is not due to expire until next year [2][13]. - The absence of Wang Yibo's name in Lehua's official releases since March has raised speculation about his contract status [7][8]. Group 2: Financial Performance of Lehua Entertainment - In the first half of 2025, Lehua Entertainment reported revenues of 414.2 million RMB, a year-on-year increase of 19.3%, with a net profit of 58.1 million RMB, up 88.7% [14][16]. - The company's revenue is heavily reliant on its artist management segment, which accounted for 86.2% of total revenue, generating 357 million RMB [14][16]. - The IP operation business has shown significant growth, with a 128% increase in revenue, reaching 20.6 million RMB, indicating diversification in revenue streams [14][18]. Group 3: Strategic Developments - Lehua Entertainment is increasing investments in diverse areas such as "star cards" and "trendy toys" to create a more varied revenue structure [18]. - The establishment of Wang Yibo's personal studio and his involvement in multiple companies suggest a potential shift in his career focus [12][18]. - The company aims to reduce its dependency on top-tier artists by fostering a broader range of talent and diversifying its business model [18].