Headlines from China: Huang Xiaoming Caught Up in Stock Manipulation Scandal 

Huang Xiaoming Caught Up in Stock Manipulation Scandal 

On August 10, China Securities Regulatory Commission (CSRC) issued a statement about the penalty for Shenzhen-listed Jinghua Pharmaceutical Group over stock manipulation. According to the released information, the company’s illegal scheme was conducted through 16 stock trading accounts. And one of the accounts was held by actor Huang Xiaoming. On August 11, Huang Xiaoming’s studio has issued a statement denying Huang’s direct involvement in the scheme. Huang is best known in China as a successful actor. But lesser people know that he is also a successful businessman. According to data provider Qi Xin Bao,  Huang has invested in over 50 companies in various industries ranging from tech, dining to culture and fashion. On the 2017 Forbes China Celebrity 100 list, Huang ranked 16th. Read more on TMT Post

Yang Mi’s First Arthouse Movie ‘Baby’ Set For October 19 Release

Executive produced by Hou Hsiao-hsien and directed by Liu Jie, upcoming Chinese arthouse movie Baby has scored an October 19 release. The film stars Chinese actress Yang Mi and marks Yang’s first-time participation in an arthouse movie since she started her acting career sixteen years ago. In Baby, Yang Mi plays an orphan who was abandoned by her parents when she was little because of her physical disability. Known as a fashion influencer and a darling of foreign luxury brands, Yang mostly played well-groomed characters in her previous films and TV shows. Read more on Mtime

NYSE-listed Huya Reports Profit Jump for Q2 2018

On August 13, Chinese live streaming platform Huya (NYSE: HUYA), which is listed on New York Stock Exchange since May 11, released its financial results for Q2 2018. The company reported 125% year-over-year increase in total revenue and a net revenue of $15.9 million. In addition, its mobile monthly active users (MAU) reached 42.7 million during the reporting period, a 10.8 percent jump compared to the same period last year. Paying users reached 3.4 million, a 40.7 percent increase year over year. Huya CEO Dong Rongjie attributed the revenue increase to the company’s efforts in enhancing user experience for its mobile users. For Q3, Huya is projected to earn between 1.19 billion yuan ($172.84 million) to 1.22 billion yuan ($177.2 million) in net revenue. Read more on xueqiu