Angelababy, Li Chen strike gold with sale of company

Huayi Brothers buys large stake in entertainment firm where actors are shareholders just a day after its founding

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Mainland China’s largest film conglomerate and talent agency, Huayi Brothers, has purchased a 70 per cent stake in the 1-day-old Zhejiang Dongyang Haohan Film and Entertainment Ltd., making the latter’s major shareholders — actors Angelababy, Li Chen, Feng Shaofeng, Zheng Kai, Du Chun and Chen He — even richer than they already are.

The sextet together hold 85 percent of the shares at Zhejiang Dongyang Haohan Film and Entertainment, and received a total of 1.08 billion yuan (S$230 million) from the transaction.

Zhejiang Dongyang Haohan Film and Entertainment was established on October 21, and the very next day Huayi Brothers expressed its intention to buy the infant company.

In explaining its unusual business tactic, Huayi Brothers said it doesn’t matter whether a company is 10 years old or a day old, as long as it had influential celebrity shareholders.

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