Film Mogul Wang Zhonglei and Wife Venture into Short Videos, Eyeing Live Commerce? Huayi Brothers Reports Over 8 Billion Yuan Loss in 7 Years

Recently, Wang Zhonglei and Wang Xiaorong, co-founders of Huayi Brothers Media Corporation (300027.SZ), have drawn attention for their foray into short videos. The couple has been actively updating their accounts, with Wang Zhonglei posting 26 videos since November and Wang Xiaorong sharing over 20 clips since late September.

Wang Zhonglei’s content focuses on entrepreneurship, work insights, film production, and life reflections, while Wang Xiaorong shares family life, marital dynamics, and parenting. Their combined follower count stands at around 60,000. Though no MCN affiliation is visible, their polished content suggests professional management.

Notably, Wang Xiaorong has hinted at potential product promotions by frequently mentioning crystals, bracelets, and tea in her videos, sparking speculation about future live commerce. Neither account has activated monetization tools like Douyin’s Xingtu or Xiaohongshu’s Dandelion yet.

Their son, Wang Yuanye, has been active earlier on Xiaohongshu, amassing 70,000 followers with vlogs on student life and fitness. His ad rates are reportedly 20,000 yuan for posts and 30,000 yuan for videos. Another family member, the wife of Wang Fuye (son of Huayi’s other founder, Wang Zhongjun), is also a Xiaohongshu influencer with 45,000 followers under MCN agency White Rabbit.

Behind this shift lies Huayi Brothers’ financial struggles. The company reported a 46% revenue drop to 215 million yuan in Q1-Q3 2025, with net losses widening 168% to 114 million yuan. From 2018 to 2024, cumulative losses exceeded 8.2 billion yuan. Legal disputes totaling 111 million yuan further strain its finances.

Once a titan with a 90-billion-yuan market cap, Huayi’s value has plummeted to 7.13 billion yuan (2.57 yuan/share), less than a tenth of its peak. The Wang brothers face frozen shares (13.9% of total equity) and a 280-million-yuan court enforcement. A pending auction of Wang Zhongjun’s 5.55% stake risks diluting family control if acquired by Alibaba-linked entities, which already hold 6.07%.

To rebound, Huayi is pivoting to “traditional films + short dramas + AI.” Recent releases include *Sunflower*, *Lychee of Chang’an*, and *The Volunteers: To the War*, while Stephen Chow’s *The Mermaid 2* nears completion. Its short-drama label “Huayi Fire Drama” collaborates with阅文集团 and Dianzhong Tech, alongside AI-driven film projects.