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]
乐华娱乐大跌，中报未提及王一博引猜测