Core Viewpoint - The recent change in ownership of Beijing Huanju Commercial Management Co., Ltd. marks a significant shift as He Youjun, son of Macau's gambling king, becomes the new chairman, taking over from Wang Sicong, who has completely exited the company [1][3][15]. Group 1: Ownership Change - On June 19, 2023, a shareholding change occurred in Huanju Commercial, with Wuhan Xingjing Weiwang Cultural Development Co., Ltd. becoming the major shareholder with a 40% stake, led by He Youjun [3][15]. - Prior to this change, Wang Sicong held a 70% stake through his companies, but he has now fully withdrawn from Huanju Commercial [3][15]. Group 2: Business Strategy and Developments - He Youjun introduced esports elements into Huanju's existing cultural tourism framework during a product launch event in Tai'an, Shandong [1][15]. - The company aims to create immersive entertainment experiences, including the largest indoor snow world in North China and a unique indoor theme park that integrates a zoo [16][17]. Group 3: Financial Implications - Following the acquisition, shares of Xingjing Weiwang surged by 13.27%, bringing its market value to approximately $94.4 million [8]. - Huanju Commercial was initially established by Wang Sicong in July 2023 with a registered capital of 10 million yuan, focusing on immersive experience and scene operation, managing assets exceeding 6 billion yuan [15][17]. Group 4: Personal Dynamics and Industry Context - Wang Sicong and He Youjun represent a new generation of wealthy heirs who are reluctant to follow in their family's traditional business paths, with both seeking to carve out their own identities in the business world [11][12][21]. - The transition of Huanju Commercial to He Youjun is seen as a test of his ability to leverage esports and entertainment resources to revitalize the company, especially in light of Wang Sicong's previous struggles in the cultural tourism sector [17][21].