“摇钱树”要倒了？一年贡献8成增长、拿走3亿，王一博被传将与乐华分手

Core Viewpoint - Recent rumors suggest that Wang Yibo may not renew his contract with Lehua Entertainment, causing significant public speculation and concern among fans and investors [1]. Group 1: Company Performance - Lehua's revenue for the first half of the year reached 414 million yuan, representing a year-on-year increase of 19.3% [2]. - The adjusted net profit for the same period was 60.92 million yuan, which also saw an increase, albeit modest [2]. - Artist management remains the primary revenue driver, accounting for over 80% of total revenue, but the gross profit margin has slightly decreased to 19.9%, down 1.6 percentage points from the previous year [3]. Group 2: Dependency on Key Artists - The top ten artists contribute to over 80% of Lehua's revenue, with the leading artist alone accounting for nearly 60% [4]. - In 2021, Lehua's procurement amount to a mysterious "Supplier B" was 302 million yuan, which constituted 43% of the operating costs and was said to contribute to over 80% of the company's revenue growth [4]. - External analysis suggests that "Supplier B" is likely Wang Yibo, highlighting the company's heavy reliance on top-tier artists for revenue generation [4]. Group 3: Market Reaction - Despite the company's denial of the breakup rumors, Lehua's stock price has quietly declined by 14% over the past 60 days, indicating market sensitivity to the situation [1]. - The absence of Wang Yibo's name in the recent half-year report, compared to its frequent mention in the previous year's report, raises further questions about his future with the company [1].