Recently, Beijing Huanju Business Management Co., Ltd. (referred to as “Huanju Business”) completed a restructuring of its equity structure. The original controlling shareholder, Wang Sicong, son of Wang Jianlin, chairman of Wanda Group, has completely exited, and the new successor is Ho Yau Koon, son of Macau gambling tycoon Ho Hung Sun and chairman of Star Vigorous Group.
According to Tianyancha, Huanju Business completed the equity change on June 19th. All original shareholders have exited, and companies controlled by Ho Yau Koon, including Wuhan Star Vigorous Sports Development Co., Ltd., Wuhan Xinghua Badminton Network Technology Co., Ltd., Hangzhou Dreammang Culture Technology Co., Ltd., and Hainan Siheng Investment Co., Ltd., have become the new shareholders. Among them, Wuhan Star Vigorous Sports Development Co., Ltd. holds a 40% stake, becoming the largest shareholder of Huanju Business. Following this change, Ho Yau Koon officially assumed the position of chairman of Huanju Business.
Huanju Business was established in July 2023 with a registered capital of 10 million yuan. Prior to this restructuring, Wang Sicong’s controlled company held a 70% stake. The company’s business scope is extensive, covering fields such as cultural tourism, commercial ventures, experiential consumption, and nighttime entertainment, with assets under management exceeding 6 billion yuan and projects spanning over 70.
One of Huanju Business’s projects is the Taishan Cultural Tourism Fitness Center project. According to Chinese media reports, in November 2023, as chairman of Huanju Business, Wang Sicong personally visited Tai’an, Shandong, and met with Yang Hongtao, Secretary of the Tai’an Municipal Party Committee, to sign a cooperation agreement for the Taishan Cultural Tourism Fitness Center project. With a total investment of 3.7 billion yuan, the project aims to transform the Tai’an New Sports Center into a comprehensive cultural tourism business integrating culture, commerce, and tourism, with plans to open in May 2025.
At that time, there was much online discussion, with headlines such as “Huanju signs contract for Wanda,” “Wang Sicong enters cultural tourism,” and “Wang Sicong taking over from Wang Jianlin.” However, Wanda denied any association with Huanju.