The announcement clearly stated that thanks to professional, persistent dedication and strong attraction in the market, Vuong Nhat Bac has built a personal brand with great influence.
Yue Hua emphasized: "This contract extension not only continues to maintain the long-term cooperative relationship between Mr. Wang and our group, but also marks a closer coordination between his future career development and the group.
According to Chinese media, this is not a normal extension, but directly elevates Wang Yibo from "contract artist" to "shareholder partner", breaking the traditional cooperation model between artists and management companies in Cbiz.
Previously, on March 25, Nhac Hoa announced a plan to reward shares for Vuong Nhat Bac with a total of 12.5 million limited shares, equivalent to about 1.51% of the total shares issued, with an estimated value of nearly 25 million HKD. But the purchase price for Vuong Nhat Bac was only 0.01 HKD/share, almost "free".
These shares will be allocated in 4 installments (each installment 25%) over 4 years, and need to be approved by shareholders at the general meeting.
The Board of Directors emphasized that retaining and continuing to sign long-term contracts with Vuong Nhat Bac is a key factor for business stability.
The long-term benefits and sustainable performance that he brings far exceed the small diluted impact on minority shareholders, thereby becoming more suitable for the common interests of all shareholders.
As a pillar artist of Nhac Hoa, whether Vuong Nhat Bac extends his contract or not always receives great attention from public opinion.
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.
According to public information, Vuong Nhat Bac was born on August 5, 1997 in Luoyang (Hainan, China). Vuong Nhat Bac was discovered by Nhac Hoa through a street dance competition and became a company intern.
In October 2014, he officially signed a contract with Nhac Hoa and debuted as a member of the boy band UNIQ, and also worked in the field of acting.
In 2019, Vuong Nhat Bac had a major turning point in his career when the movie "Tran Tinh Lenh" exploded, helping his commercial value skyrocket, and at the same time putting him on the list of key artists of the company.
In October 2022, after the 8-year contract ended, the two sides extended it for another 4 years until October 2026. At that time, Wang Yibo had a solid position: establishing his own studio, signing with CAA, registering personal brands, gradually reducing dependence on the company.
On March 27, after Nhac Hoa announced the continued successful signing of a contract with Vuong Nhat Bac, the male artist's Weibo account also changed its name from "UNIQ - Vuong Nhat Bac" to "Vuong Nhat Bac - YIBO".
