In recent weeks, China’s New Year television galas have become major talking points as each network assembled star-studded lineups. Famous actors with huge fan bases such as Xiao Zhan, Bai Lu, Zhang Linghe, Liu Yuning, Tan Jianci and Dylan Wang appeared on various year-end stages, delivering different performances.
Amid all this excitement, however, one topic has unexpectedly dominated online discussions: “Why didn’t Wang Yibo appear on the New Year’s stage?” Demand quickly gained traction, attracting the attention of fans and investors.
According to Chinese media, Wang Yibo’s contract with his agency Yuehua Entertainment will expire in October 2026, making any potential change in their partnership a matter of keen public interest. As Yuehua’s flagship artist, Wang Yibo’s commercial value and contribution to the company’s revenue have long been closely monitored by the market.
When Yuehua Entertainment was listed on the Hong Kong Stock Exchange in 2022, Wang Yibo’s name appeared 18 times in its 445-page prospectus, earning the company the label of “Concept stock by Wang Yibo.” Its importance was further highlighted in Yuehua’s 2024 annual report and previous interim reports, where it was repeatedly highlighted. Notably, however, Wang Yibo’s name was absent from the company’s interim report for 2025, a change that raised eyebrows.
His absence from year-end events and New Year’s Eve broadcasts has only fueled speculation that he may be preparing to leave the company. In fact, rumors about his contractual status had been circulating for months due to his irregular work hours. Since filming started Intercross as of July 2024, Wang Yibo has not officially joined any new projects.
In China’s entertainment industry, it is often seen as unusual for a top star to go a year or two without joining a new production, often leading audiences to suspect contract disputes with management agencies. In some cases, artists nearing the end of their contracts would face pressure or even an informal “freeze” of assets.
These concerns have had a tangible impact on Yuehua Entertainment’s stock price. In the second half of 2025 alone, Yuehua shares fell more than 20%, ending the year at HKD2.46 per share.
Public records show that Yuehua Entertainment operates in multiple industries, including artist management and training, music production and distribution, virtual artist development, licensing of entertainment programs, and sales of artist-related products. Its current roster includes well-known names such as Wang Yibo, Meng Meiqi and Wu Xuanyi.
Despite this diverse lineup, Wang Yibo has reportedly contributed more than 60% of Yuehua’s total revenue for years. As a result, the decision to renew the contract has become a critical issue for the company’s future.
Meanwhile, most of Wang Yibo’s fans expressed support for his departure from Yuehua, claiming that the company has failed to adequately protect his interests or provide sufficient support, even though he remains its most prominent artist.
Sources: DL
