Lehuas stock price plummeted nearly 80 % of revenue relying on Wang Yibo

Revenue highly depends on the stock price of Yuehua Entertainment, an artist Wang Yibo, once plummeted by nearly 80 %.

Comprehensive Shanghai Securities News and Financial Association reported that the stock price of Hong Kong stocks fell sharply on Tuesday (January 16), which once fell 79.93%, a new low since listing.

The topic of "Lehua's stock price plummeted nearly 80%" followed the first on the Weibo hot search list.

As of noon, Lehua Entertainment fell more than 74%, with a total market value of only 1.264 billion Hong Kong dollars (about $ 216 million).On January 12, a few days ago, the market value of Lehua Entertainment was still around HK $ 6.7 billion.

Public information shows that Beijing Lehua Yuan Entertainment Culture Communication Co., Ltd. ("Lehua Entertainment") was established in 2009. The legal representative is Du Hua.

Lehua Entertainment was officially listed on January 19, 2023.The company's income structure is relatively single and highly dependent on head artist management.According to the prospectus of Lehua Entertainment, in the first three quarters of 2022, the revenue contributed by artist Wang Yibo accounted for 59%of the total revenue of the same period.