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On the evening of August 26, Mainland Chinese artist Zhao Wei was banned from the entire network. The film and television works that she had participated in or directed, such as “Returning the Pearl,” were not only removed from the shelves, but her name was deleted from the list of main creators. When searching for “Zhao Wei” on major video sites in China, there were no results.
It is not yet clear whether Zhao Wei’s ban was an independent incident or the result of the supervision of multiple “inferior artists”.
At the time of the incident, the Chinese entertainment industry could be described as “turbulent”-Ruby Lin’s studio was also cancelled; Zheng Shuang was chased and fined nearly 300 million yuan for tax evasion, and several works were removed from the shelves; Huo Zun Chaohuan on Sina Weibo was also shut down because his girlfriend exposed his inappropriate remarks. Prior to this, there were allegations that Wu Yifan and Qian Feng were involved in sexual assault.
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Zheng Shuang became an instant hit for starring in the campus idol drama “Let’s Watch the Meteor Shower”.
On August 27, the China Cyberspace Administration of China issued a notice requesting ten aspects to rectify the chaos of the “rice circle”, including the implementation of the cancellation of the star artist list, strict control of star brokerage companies, prohibition of mutual tearing of information, and prohibition of inducing fans Consumption, strictly control the participation of minors, etc.
Xiaoyanzi’s financial territory
Zhao Wei is not only highly productive in film and television works, but also has a wide layout in the field of financial investment. According to information from Tianyancha, a Chinese enterprise information query platform, Zhao Wei serves as a legal representative, executive or shareholder in 14 companies. Among the three companies in which he is a legal person, one is in existence, one is cancelled, and the other is Shanghai Xinyi Culture. The operating status of Communication Co., Ltd. is revoked and not cancelled.
In addition, companies in which Zhao Wei is a shareholder include Beijing Prince Culture Communication Co., Ltd. Zhang Zhehan, an artist under this performance agency, has recently been widely criticized for taking pictures at the Yasukuni Shrine in Japan and has withdrawn from the entertainment industry.
Unlike the above-mentioned “bad artists” who were punished at the same time, Zhao Wei was punished by the China Securities Regulatory Commission in 2018 because of her operations in the capital market.
“Empty Glove White Wolf”
This illegal transaction involves Zhao Wei and her husband Huang Youlong. At the beginning of 2017, the listed company Wanjia Culture stated that it would transfer nearly 30% of the company’s shares to Longwei Media, involving 3 billion yuan. The “wei” in Longwei Media’s name refers to Zhao Wei, and the “long” refers to Zhao Wei’s husband, Huang Youlong.
Longwei Media was established in November 2016. The legal representative is Zhao Wei. The registered capital is only 2 million yuan. After more than a month after the establishment of this small company that has not started any business, it began to acquire the million cultural companies with a market value of 10 billion. 29.135% shares.
Image source,CNS
Zhao Wei and her husband Huang Youlong
As soon as the news of the acquisition came out, Zhao Wei’s name became the focus. Once the deal is concluded, Zhao Wei will become the first Chinese actor to control a listed company. Small and medium investors have bought Wanjia Culture, and the stock price has risen continuously in a short period of time.
The abnormal operation attracted the attention of the China Securities Regulatory Commission, which sent a letter requesting Zhao Wei to clarify the source of the huge amount of funds required for the acquisition. Zhao Wei later replied that she had 60 million yuan of her own funds; borrowed 1.5 billion yuan from Tibet Yinbeixin Asset Management Co., Ltd., Zhao Wei’s personal credit guarantee; and borrowed 1.5 billion yuan from financial institutions.
This means that Zhao Wei invested 60 million yuan and borrowed 3 billion yuan to complete the holding of a company with a market value of 10 billion yuan. With a leverage ratio of more than 50 times, it was criticized by the Chinese media as an “empty glove white wolf”, and public opinion was dumb.
Soon this transaction ended in failure-1.5 billion financial institution loans were not approved, and another 1.2 billion follow-up borrowings from Yinbei letter were also unavailable. Longwei Media announced that it would give up holding.
Zhao Wei retired, but stockholders suffered heavy losses-Wanjia Culture’s stock price fell more than 60% from its highest point of 25 yuan.
The China Securities Regulatory Commission also imposed penalties, imposing a fine of 300,000 yuan on Zhao Wei and her husband, Huang Youlong, and banning access to the securities market for five years.