Recently, mainland China’s well-known comedian Li Xueqin was reported by a man claiming to be a shareholder of her company. The report alleged financial problems within the company, possibly involving improper asset transfers. Li Xueqin denied the allegations and reserved the right to take further legal action.
According to a post on Weibo by netizen “Xie Tianfei” on the night of June 17th, he claimed to be a shareholder of Li Xueqin’s company, Beijing Shijin Cultural Media Co., Ltd, and the “boss” mentioned in her comedy sketches. The dispute between them regarding the “Equity Trust Agreement” was tried in the first instance at a court in Chaoyang District, Beijing. During the court session, Li Xueqin’s lawyer submitted a liquidation report of Beijing Shijin Cultural Media Co., Ltd.
The report revealed that the remaining assets of the company for distribution amounted to over 11 million yuan. Based on evidence provided by both parties and transfer records, the profit that should have been distributed to him was over 3.3 million yuan, but he only received 1.4 million yuan in 2021.
Xie Tianfei also mentioned that based on his existing evidence, there were significant irregularities in the accounts of at least two subsidiary companies of Beijing Shijin Cultural Media, which could directly impact the distribution of the remaining assets of the company. This included: subsidiary company A purchasing a Mercedes-Benz vehicle for about 1.1 million yuan, using it for 13 months, then selling it to Li Xueqin’s father for over 440,000 yuan; subsidiary company A buying a vehicle for 260,000 yuan, which was sold to Li Xueqin’s mother for 130,000 yuan after 13 months. Subsidiary company B made 61 transfers totaling 6 million yuan to an unrelated “individual”; and subsidiary company B transferred over 14 million yuan to an account of a financial company, which was deregistered on the 4th day of receiving the payment, with the financial controller of that company being a partner of Li Xueqin’s current partner, Yang Fan, who controlled the company.
Xie Tianfei stated that over the past three years, he had repeatedly requested Li Xueqin’s side to provide relevant liquidation reports and financial details and had tried to negotiate the dispute amicably, all of which were rejected. Therefore, he decided to publicize the evidence of the obvious irregularities in the subsidiary companies, hoping to draw attention to the matter.
This was not the first time Xie Tianfei accused Li Xueqin publicly. During the Chinese New Year period this year, Xie Tianfei posted a lengthy article on his personal Weibo account, stating that he had filed multiple lawsuits with the court. However, at that time, Xie Tianfei did not directly name Li Xueqin, only referring to her as a “female celebrity surnamed Li”.
In the lengthy article, Xie Tianfei revealed the details of the conflicts that arose during his collaboration with Li Xueqin. According to the article, the two met in 2018 through self-media entrepreneurship on a video platform. In 2019, Li Xueqin invited him to join Beijing Shijin Cultural Media Co., Ltd., which she founded, and in June 2020, they signed the “Equity Transfer and Trust Agreement”, making Xie Tianfei the second largest shareholder of the company.
In September 2020, Li Xueqin gained popularity from a comedy show, leading to various collaborations and the expansion of the company’s business. Several subsidiary companies were established, with Xie Tianfei serving as the legal representative of some. Due to busy schedules and lack of communication, a heated conflict occurred on Chinese New Year’s Day in 2021, when Li Xueqin, as the largest shareholder, demanded his exit from the company.
However, before an agreement on the equity issue was reached, Li Xueqin and the investors, along with lawyers, proposed to directly liquidate the company, distributing only the book profits. Subsequently, Li Xueqin established a new company with the original investors to take over the business, leading to Xie Tianfei’s exit in this manner.
In December 2021, another conflict arose between the two due to unresolved historical work issues, ultimately resulting in a complete breakdown of their relationship.
According to the lawyer’s letter posted by Xie Tianfei, he had filed multiple lawsuits against Li Xueqin, including claims of defamation and company equity issues as early as 2024.
In response, Li Xueqin’s studio swiftly issued a statement on the afternoon of June 18th, stating “Court sees”.
The statement mentioned that the dissolution, liquidation, and deregistration processes of Beijing Shijin Company and its subsidiary companies were entirely legal and compliant, refuting the accounting issues questioned by Xie Tianfei in his Weibo post on June 17, 2025. Additionally, the amounts mentioned by Xie Tianfei were claimed to be not objectively factual. Li Xueqin had already provided detailed explanations of the liquidation process of Beijing Shijin Company to the court and submitted relevant evidence, awaiting the court’s judgment. Regarding the dissemination of false information in Xie Tianfei’s post, Li Xueqin has legally obtained evidence and reserves the right to take further legal action.
Public records show that Li Xueqin (real name Li Xueyang), as the legal representative of Beijing Shijin Cultural Media Co., Ltd., was deregistered on June 17, 2022.
Xie Tianfei had been a long-time partner of Li Xueqin. According to Tianyancha, Li Xueqin and Xie Tianfei had two business collaborations, but both companies were deregistered. Currently, Li Xueqin only has Shanghai Qi Yin Creative Planning Studio in existence.