Chinese male star Wang Yibo has renewed his contract with his agency, Yuehua Entertainment. On the 27th, the company announced this news, which shocked netizens because it had been rumored that since he wrapped up filming the movie "Mermaid” in April 2024, he hasn’t joined any film or drama crews for about two years. Instead, he has only made occasional appearances on adventure variety shows, attended events, or been seen at fashion weeks to maintain his exposure. Hardcore fans previously speculated that as his contract was due to expire in October this year and he was determined to make a clean break from the company, he had been delaying joining any new productions. However, the company confirmed on the 27th that he has renewed his contract, leaving the reason behind his two-year acting hiatus a big mystery.
As Yuehua Entertainment’s major cash cow, Wang Yibo is estimated to contribute about 60% of the company’s revenue, generating around 1 billion RMB (approximately 580 million MYR) in revenue over the past four years. The announcement on the 27th that he has officially renewed his contract is a major boon for Yuehua. According to a board letter disclosed by Yuehua on the 25th, the company intends to grant Wang Yibo 12.5 million shares as an incentive, showcasing their sincerity.
Previously, when rumors spread that he didn’t want to renew his contract, Yuehua’s stock price once plummeted by 20%. After it was revealed on the 25th that Yuehua was trying to retain Wang Yibo with a large amount of shares, the stock price rose for two consecutive days. It’s also rumored that Wang Yibo agreed to renew his contract because he will have greater autonomy in choosing his future projects. Fans are curious if the company will soon arrange for him to return to a project and make up for this two-year gap in his film and television works.
Recently, Wang Yibo changed his Weibo account name, deleting the prefix of his debut group “UNIQ.” Netizens believe he will now operate an independent studio as a shareholder. As for rumors of a wave of fans leaving due to the contract renewal, in fact, statistics show his Weibo follower count not only didn’t drop, it actually increased by 6,000 in a single day.