The stock price of Yuehua Entertainment, a Chinese entertainment company, took a major nosedive, plummeting by a staggering 80%.
According to a foreign media outlet called 8 World, it was reported that Wang Yibo’s income accounted for a whopping 59% of Yuehua Entertainment’s total income.
As a result, the stock price of Yuehua Entertainment, which some people jokingly call ‘the company founded by Wang Yibo’, took a nosedive of nearly 80%.
Yuehua Entertainment, founded in July 2009, is one of the biggest celebrity management companies in China. They’ve got a registered capital of 110 million yuan, which is around 21 million dollars. The agency covers a wide range of business areas including artist training, artist management, music copyright production, and entertainment.
They’ve got some amazing artists under their wing like Wang Yibo, Cheng Xiao, Lei Wenhan, Zhu Zhengting, Luda, and more.
Some people are suggesting that the drop in the stock price could be related to Wang Yibo’s alleged scandal. Last December, there were suspicions about him having a romantic relationship with Chinese actress Zhao Liying, who was his co-star in a project.
Zhao Liying is reportedly 10 years older than Wang Yibo and recently divorced, sharing custody with her ex-husband. It is worth noting that there is not any solid evidence to confirm their relationship or official confirmation
But now, with the stock plunge, everyone’s wondering if Wang Yibo’s dating rumors are affecting the company.