According to Chinese media, in a letter from the board of directors announced on March 25, Yuehua Entertainment company proposed to award conditional shares to Wang Yibo, in order to recognize and reward his outstanding contributions to the company's business operations, and at the same time aim to maintain long-term cooperative relationships.
The Board of Directors believes that retaining Vuong Nhat Bac will bring long-term stability and sustainable efficiency to the company, this value far exceeds the small diluted influence on minority shareholders, thereby being more suitable for the overall interests of all shareholders.
Nhac Hoa is a famous artist management company in China, in which Vuong Nhat Bac is the company's pillar artist. In January 2023, Nhac Hoa officially listed on the Hong Kong Stock Exchange (China).
According to public information, in the past time, the company has issued many notices to protect artists, collect evidence and handle individuals who spread defamatory information about Vuong Nhat Bac.
Regarding the business situation, Nhac Hoa's revenue in 2023 and 2024 reached 756 million CNY and 765 million CNY respectively, of which the artist management segment contributed 663 million CNY and 695 million CNY, accounting for 87.7% and 90.9% of total revenue, showing that this is the core area of the company.
As of the end of June 2025, the company has a total of 62 artists signing contracts and 51 trainees participating in the training program, in which Vuong Nhat Bac plays a central role.
Vuong Nhat Bac used to be Nhac Hoa's main source of revenue for a long time. According to reports, from 2019 to the first 3 quarters of 2022, the revenue he brought in was 16.8%, 36.7%, 49.5% and 58.8% respectively; by 2024, Vuong Nhat Bac contributed more than 60% of Nhac Hoa's total revenue.
The artist management contract between Vuong Nhat Bac and Nhac Hoa started in October 2014, after expiring in October 2022, it was extended once more, with a term of 4 years and will end in October 2026.
Since the end of last year, the Chinese entertainment industry has spread rumors that Wang Yibo will leave Yuehua after his contract expires and does not decide to extend it.
Nhac Hoa's stock price in October 2025 decreased by 12.69%, and the total decrease in the second half of the year exceeded 28%. This is speculated by industry insiders as due to stock sell-offs because investors are worried that the company will lose its key artists.
In addition, fans discovered that the name Nhac Hoa company no longer appeared in the acknowledgment part of Vuong Nhat Bac's documentary "Discovering a New Land".
Since the filming process of the movie "Nhan Ngu" ended (2024), Vuong Nhat Bac has not received any new film projects.
He only broadcasts his sports documentary, besides participating in racing activities and some related events. Vuong Nhat Bac also rarely appears at public entertainment events.
This move further fueled rumors that he had left Nhac Hoa company.
The media commented that Nhac Hoa's proposal to donate shares to Vuong Nhat Bac shows that contract extension negotiations with the actor have not reached an agreement.
If Vuong Nhat Bac agrees to receive shares, this will be Nhac Hoa's important strategy to turn him from an "artist under his command" to a "strategic shareholder", thereby ensuring that Vuong Nhat Bac does not leave Nhac Hoa after the contract expires.
