Chinese Actress Zhao Wei’s Frozen Stocks Impede Potential Comeback
After nearly three years of being blacklisted in China, popular actress Zhao Wei, had her Weibo account restored last month, and her videos on various platforms are no longer pixelated. Just as it seemed like she might be making a comeback, on April 16, a Weibo post alleging that “certain stocks held under Zhao Wei’s name have been frozen” quickly became a hot topic on social media.
According to information from “Qichacha”, on April 11, a portion of stocks held under Zhao Wei’s name was frozen, with the frozen stocks belonging to “Hebao Entertainment Group Co., Ltd.” The amount frozen was 5 million yuan, with the freeze set to last until April 10, 2027, enforced by the Fourth Intermediate People’s Court of Beijing.
Public records show that “Hebao Entertainment Group Co., Ltd.” was established in January 2015 with a registered capital of 110.8424 million yuan. The legal representative is Zhao Zhi. The company’s business scope includes broadcasting and television program production and operation, film distribution, performance brokerage, professional design services, advertising design, agency, and advertising release (excluding broadcasting stations, TV stations, newspaper and periodical publishing units). Shareholder information indicates that Zhao Wei holds a 4.51% stake in the company, acquired on August 10, 2015.
This is not the first time that stocks held under Zhao Wei’s name have been frozen. According to the “China Fund News”, as early as April 2021, multiple stocks under Zhao Wei’s name had already been frozen, involving companies such as “Wuhu Dongrun Hair Investment Co., Ltd.”, with a total freeze amount exceeding tens of millions of yuan, set to last until the end of April 2024.
Previous reports from mainland Chinese media mentioned that Zhao Wei and her wealthy husband Huang Youlong were involved in market manipulation, using high leverage to manipulate the market value of “Firmiana Culture” by a factor of 50 billion yuan, resulting in fines and a ban from the securities market by the China Securities Regulatory Commission in 2018. Additionally, they faced numerous lawsuits from shareholders, including criminal and civil cases, with over 540 claims in 2019 alone, over 215 of which pertained to Zhao Wei personally.
From her role as “Xiaoyanzi” in the TV series “Princess Pearl” which made her famous throughout Asia, Zhao Wei ventured into the business world and became a prominent figure in the capital market, earning her the title of “Chinese Female Buffett”.
On August 26, 2021, all film and television works featuring Zhao Wei suddenly disappeared from various mainland platforms, her Weibo super topic was shut down, and unreleased works were recast, labeling her as a “tainted artist” by official media. Since the ban, Zhao Wei’s business empire has been shrinking. Currently, among the companies with Zhao Wei as the legal entity, one film and television culture studio is still in operation, while two have been deregistered or revoked. Earlier, Zhao Wei had investments in as many as 17 companies spanning areas such as film, entertainment, investment, technology, and real estate.
Rumors surfaced last month suggesting Zhao Wei might be allowed to return, with her Weibo account back to normal and her name featured on past popular works. Fans also noticed that her videos on platforms like Bilibili were no longer blurred. Some Hong Kong media sources speculated that Zhao Wei could potentially return as early as June this year. However, with the recent revelation of her frozen stocks, it remains uncertain whether she will be able to make a successful comeback.