In recent weeks, China’s televised New Year’s Eve galas became major talking points as each network assembled star-studded lineups. Popular actors with massive fan bases such as Xiao Zhan, Bai Lu, Zhang Linghe, Liu Yuning, Tan Jianci, and Dylan Wang appeared across various year-end stages, delivering diverse performances.
Amid this buzz, however, one topic unexpectedly dominated online discussions: “Why didn’t Wang Yibo appear on any New Year’s Eve stage?” The question quickly trended, drawing intense attention from fans and investors alike.
According to Chinese media, Wang Yibo’s contract with his agency Yuehua Entertainment is due to 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 watched by the market.
When Yuehua Entertainment went public 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 a “Wang Yibo concept stock.” His importance was further underscored in Yuehua’s 2024 annual report and earlier interim reports, where he was repeatedly highlighted. Notably, however, Wang Yibo’s name was absent from the company’s 2025 interim report, a change that raised eyebrows.
His absence from year-end events and New Year’s Eve broadcasts only added fuel to speculation that he may be preparing to leave the company. In fact, rumors about his contract status have circulated for months due to his irregular work schedule. Since wrapping filming on Intercross in July 2024, Wang Yibo has not officially joined any new projects.
In the Chinese entertainment industry, it is often seen as unusual when a top star goes one to two years without entering a new production, frequently leading the public to suspect contract disputes with management agencies. In some cases, artists approaching the end of their contracts have reportedly faced pressure or even informal “freezing” of activities.
These concerns have had a tangible impact on Yuehua Entertainment’s share price. In the second half of 2025 alone, Yuehua’s stock dropped by more than 20%, closing the year at HKD 2.46 per share.
Public records show that Yuehua Entertainment operates across multiple sectors, including artist management and training, music production and distribution, virtual artist development, entertainment program licensing, and the sale of artist-related merchandise. Its current roster includes well-known names such as Wang Yibo, Meng Meiqi, and Wu Xuanyi.
Despite this diversified lineup, Wang Yibo has reportedly contributed more than 60% of Yuehua’s total revenue for years. As a result, whether he chooses to renew his contract has become a critical issue for the company’s future.
Meanwhile, a large portion of Wang Yibo’s fan base has voiced support for him leaving Yuehua, arguing that the company has failed to adequately protect his interests or provide sufficient support, even though he remains its most important artist.
Sources: LD