The son of Wang Jianlin, former richest man in China and chairman of Wanda Group, Wang Sicong, has had his assets auctioned off by the court.
According to the auction announcement issued by the Intermediate People’s Court of Dalian, a 8% equity stake in Maizha Cultural Communication Co., Ltd. under Beijing Pusi Investment Co., Ltd. will be auctioned from 10:00 on January 24, 2026, to 10:00 on January 25, 2026, with an evaluation value of -1.6662 million yuan (RMB, same below) and a starting price of 107,500 yuan.
Business registration information shows that Beijing Pusi Investment was established in December 2009 with a registered capital of 20 million, wholly owned by Wang Sicong. Maizha Cultural, the company being auctioned this time, was invested in by Pusi Investment in the A+ round in 2019, a company specializing in “immersive interactive game dramas”. Currently, Beijing Pusi holds a 10% stake in this company. However, this company underwent massive layoffs and store closures in 2024 and was ultimately included in the list of executed persons by the court.
This is not the first time this year that Wang Sicong has had his assets “passively auctioned”. In June this year, Ho Yau Kwan, son of the Macau gambling king, took over and replaced Pusi Investment as the major shareholder of Huanju Commercial, resulting in Wang Sicong completely stepping down from the management team. In September, Shanghai Xiong Mao Interactive Entertainment Culture Co., Ltd., chaired by Wang Sicong, was executed for a contract dispute involving 12.1 million yuan.
According to reports from Jiemian News, Pusi Investment is one of Wang Sicong’s most important investment platforms, which claimed to have managed assets totaling over 1 billion U.S. dollars and has invested in dozens of projects including Hero Entertainment, Xiong Mao Entertainment, Le Sports, and Chaoguo Culture.
However, in recent years, affected by the cooling of live streaming, e-sports, content entrepreneurship competitions, and the tightening macro-financing environment, Wang Sicong’s business has started to decline, leading to the cancellation of many companies in which Wang Sicong had stakes. Currently, Wang Sicong is only the legal representative of 14 companies.