During a recent livestream session, Li Yapeng appeared in a simple plain shirt, his hair neatly combed, though wrinkles around his eyes revealed the toll of the past years. Facing the camera calmly, he said, “The money has been fully repaid.” There were no dramatic celebrations. He simply lifted a teacup, took a sip, and continued reading the steady stream of comments flooding the screen. Behind him were freshly packed tea boxes, with loose tea leaves scattered across his desk — a raw reflection of his two-year debt repayment journey. Viewers commented, “This is the most realistic portrayal of his life over the past two years,” and “It hasn’t been easy.”
In 2024 alone, Li hosted 139 livestream sessions, generating over 300 million RMB in revenue. In the first five months of 2025, he reportedly sold nearly 100 million RMB worth of goods, with tea and tea ware accounting for approximately 70% of total sales. By the end of 2025, his revenue surged significantly, finally allowing him to “reach shore” after years of financial turmoil.
His financial troubles trace back to 2012, when Li stepped away from acting and devoted himself to building what he described as a “spiritual space.” He invested 3.5 billion RMB to launch an art town project at the foot of Jade Dragon Snow Mountain in Lijiang. The plan included art museums, sculpture parks, and homestays. His partner, Taihe Youlian, invested 60 million RMB under an agreement promising a fixed return of 40 million RMB profit after three years.
However, Li was widely described as overly committed to preserving the “purity of art.” When real estate developers proposed constructing high-rise buildings for faster capital recovery, he refused. Suggestions to introduce popular food brands to attract visitors were also rejected, as he believed they would “pollute the cultural atmosphere.” He even envisioned turning commercial spaces into exhibition areas rather than profit-driven establishments.
By 2015, when the project reached its deadline, vacancy rates had soared to 70%, and even daily operational costs became difficult to sustain. The promised 40 million RMB return became impossible to fulfill. To salvage the project, Li and his brother signed a commitment letter, personally guaranteeing the debt. What he did not anticipate was that this decision would burden him with massive liabilities for the next seven years, leading to lawsuits filed by investors.
The legal battle went through six trials, from first instance to retrial. In 2022, when he ultimately lost the final appeal, the total debt — including principal and interest — had risen to 50 million RMB. During this period, Li was placed on the list of discredited persons subject to enforcement, facing restrictions on high-level consumption. His 500-square-meter courtyard home in Shunyi was sealed and auctioned. The villa where he once lived with singer Faye Wong could not be retained either. Eventually, he sold two additional properties in Chaoyang and Haidian to gather nearly 20 million RMB as initial repayment capital.
Li’s lifestyle changed drastically. He moved from a 500-square-meter villa to a 90-square-meter rental apartment, saving approximately 2.6 million RMB in annual rent. Luxury fashion brands were replaced with affordable labels, and luxury vehicles gave way to a standard family car. His former wife, Haiha Jinxi, was seen wearing 15 RMB cloth shoes and cleaning tile gaps in their rented home. His eldest daughter, Li Yan, also helped promote products through short videos, contributing to a single livestream session that generated more than 20 million RMB in sales.
Notably, even during his most difficult times, Li maintained a calm and measured tone during livestream sales. Instead of aggressively urging viewers to purchase products, he patiently introduced the craftsmanship of tea ware and the origins of tea leaves. Many questioned why he did not declare corporate bankruptcy, but Li responded clearly: “This is a personal responsibility I committed to. I cannot let others bear it for me.”
Public support also played a role in his comeback, especially following renewed attention surrounding the Smile Angel Foundation. With audience encouragement and consistent effort, Li eventually earned enough to repay the debt in full.
Now debt-free, Li continues operating his livestream studio. He personally packages products and plans to allocate a portion of tea ware profits to rural cultural projects.
After clearing his debt, Li welcomed a peaceful Lunar New Year. On February 14, he shared a video on social media revealing that he returned to his hometown to celebrate with his mother. Posting a photo of his 83-year-old mother driving him home, he wrote, “I had dinner and a few drinks with old neighbors during the Lunar New Year. I had to ask my 83-year-old mother to drive me home. There is a treasure at home that makes me feel that I belong here.”
Born in 1971, Li Yapeng rose to fame as one of the most prominent stars in the Chinese entertainment industry, known for classic dramas such as The Legend of the Condor Heroes and Laughing in the Wind. Over the years, he dated several high-profile figures, including model-actress Ke Lan, Qu Ying, actress Zhou Xun, and Faye Wong. He married Faye Wong in 2005 before divorcing in 2013, and they share a daughter, Li Yan. In 2022, he married actress Haiha Jinxi and welcomed another daughter, Li Xia. The couple has recently divorced.
In recent years, Li Yapeng has remained in the spotlight due to business failures and mounting debts, at one point reportedly owing nearly 6 million USD. With his latest announcement confirming full repayment, the actor’s long and arduous financial chapter appears to have finally come to an end.
Sources: Ngoisao