On October 23, Zhang Ziyi and Wang Feng officially announced their divorce, quickly topping the trending list on Weibo.
Married for eight years, the couple never left much room for public speculation. Thus, the divorce hasn’t stirred significant controversy. Most comments under Zhang Ziyi’s Weibo post are encouraging her to focus on her career, while Wang Feng’s comment section has turned into a humorous meme-fest, maintaining an overall harmonious atmosphere.
Rather than speculating why their marriage ended, the focus might better be placed on the duo’s achievements in film, music, and their past ventures in the capital market, as well as their future career directions.
Solo Ventures in the Capital Market
According to Tianyancha, both Zhang Ziyi and Wang Feng have similar scales in their business portfolios. Zhang Ziyi holds positions in 23 companies, while Wang Feng does in 20. Unlike some other celebrity couples, their overlap in the capital market is minimal.
In December 2021, after both withdrew from the shareholder list of Xinyingjiayi (Xinyi) Film Culture Development Co., Ltd., the only company they both held shares in was Lanzhuzhu Cultural Media Co., Ltd., established in 2014. Currently, the company is still active, with Wang Feng as the legal representative, and both holding 50% of the shares. This shows that in their eight years of marriage, their capital commitments were not deeply intertwined.
Zhang Ziyi has held positions in 23 companies, 13 of which are still active. In several, like Zhang Ziyi Studio and Qingyi Film and Television Cultural companies in places like Hainan, Chongqing, and Shanghai, she has the controlling stake. However, these film companies are not very active in the capital market.
In 2013, Zhang Ziyi held shares in Beijing Qingyi Cultural Investment Management, which produced the film “Very Lucky.” Later, she also invested in Bona Film Group, the main producer of the film. However, her investments in the film and TV industry have been fairly conservative.
Apart from film and TV, Zhang Ziyi’s business portfolio also includes investments in companies like Beijing Qingshan Base Angel Investment Partnership and Ningbo Meishan Free Trade Port Zone Meixiang Four Overflow Investment Partnership. Additionally, she holds 24.03% of the shares in Beijing Piaopiao Feather Brand Management Co., Ltd., making her the second-largest shareholder.
After giving birth to her daughter, Wake Up, Zhang’s identity as a mother became more pronounced. This shifted her focus to the maternal and child product sector. In 2017, she became the chief product experience officer for the maternal and child brand Piaopiao Feather, and was involved in the research and development process of their products. In 2023, Zhang was also behind the infant skincare brand newpage, co-founding it with childcare expert Cui Yutao and former Procter & Gamble chief scientist Huang Hu.
Furthermore, Zhang holds 7.89% of the shares in Shanghai Xiangxing Business Services Co., Ltd., the main company behind the luxury rental platform Xingdong Binpin, and 9.58% of the shares in Beijing Ading Technology Co., the owner of the comprehensive dog service mobile platform Haogougou. Most of these investments were made after she joined the venture capital institution Star VC in October 2015.
Wang Feng has held positions in 20 companies, 13 of which are still active. He has controlling stakes in companies like Bifeng Yizhu Changxing Cultural Media Studio, Zhuanglifengjing Cultural Media, Lanzhuzhu Cultural Media, and Chongqing Kangyu Cultural Media.
In Wang Feng’s business portfolio, most companies are related to the music industry. Examples include Beijing Wild Horse Information Technology Co., Ltd., which specializes in music performance livestreaming; Nanjing Guojiang Cultural Development Co., Ltd., which focuses on social marketing and community management services centered around music; and Beijing Fengqu Internet Information Service Co., Ltd., the company behind the music software Pineapple BOLO (formerly known as Suile). The latter was originally founded by Wang Feng’s team but was later taken over by famous music critic Hao Fang. However, Wang Feng still holds 11.87% of the shares in Beijing Fengqu.
A unique company among the 13 is Jiangxi Feier Technology Co., Ltd., where Wang Feng is the controlling shareholder. This company is behind FIIL headphones, a brand Wang Feng created. Backed by renowned investors such as Meihua Angel Investment’s Wu Shichun and Qingshan Capital’s Zhang Ye, with Wang Feng’s celebrity influence, in 2016, FIIL’s operating company Fengfan Technology completed a $20 million Series A financing, valued at RMB 1 billion. However, with the intense competition in the headphone market in recent years, FIIL’s market share hasn’t been impressive.
Zhang Ziyi and Wang Feng have distinct entertainment trajectories, but their investment goals in the capital market converge in a sense: nurturing self-created brands.
Independent and Flourishing Future Careers
Before the official divorce announcement, Liu Yifei, an apprentice of Zhao Benshan, revealed in a live broadcast that the couple had split, claiming they had divided assets worth 3.5 billion yuan, with Wang Feng getting 2.8 billion and Zhang Ziyi 700 million. If these numbers are accurate, the disparity is indeed significant. Many were surprised to hear that Wang Feng was “wealthier” than Zhang Ziyi. But given their career achievements over the past eight years, it isn’t too surprising.
After their marriage in 2015, Zhang Ziyi entered a “low-production phase.” She only starred in a few films like “Run for Love,” “The Wasted Times,” “Forever Young,” “Godzilla: King of the Monsters,” “The Climbers,” and “Me and My Father’s Generation.” Most of these films received mediocre reviews, with “The Wasted Times” being the only one to get a score above 7 on Douban, a popular Chinese review platform. Yet, it had limited market impact as an art film.
At the same time, after marriage, Zhang Ziyi started to appear frequently in variety shows such as “The Birth of an Actor,” “I Am an Actor,” and “The Romantic Journey of Wives.” These changes might have been influenced by her marriage, but they likely also resulted from market factors.
Around 2015 was a significant turning point for the film market, with a massive influx of capital leading to rapid development in the film and TV industry. However, high-quality productions became scarce. During this period, like Zhang Ziyi, actress Li Bingbing also saw a decline in her film output. Zhang Ziyi tried to shift her focus by directing a segment called “Poem” in “Me and My Father’s Generation” and by acting in the TV series “Shang Yang Fu,” but neither attempt was very successful.
Still, with classics under her belt like “The Road Home,” “Crouching Tiger, Hidden Dragon,” “The Grandmaster,” and “Memoirs of a Geisha,” and with the honor of “Triple Gold Best Actress” in Chinese cinema, Zhang Ziyi certainly has a high margin for error. This is evident from her recent endorsements. While not as illustrious as her peak years when she represented top brands like Omega, Armani, Mercedes-Benz, and Coca-Cola, she has still landed high-end endorsements like Lincoln, as well as endorsements for Feihe milk powder and CPB.
Currently, Zhang Ziyi has several films waiting to be released, including “Jiangyuan Nong,” “Hot Blood Boiling,” “East Meets West,” and “Cang Ya.” Although the number of films isn’t high, their quality seems promising. For example, “Jiangyuan Nong” is one of the first works produced by Chen Kexin’s Changin’ Pictures, while “East Meets West” is a Universal Pictures-produced romantic comedy about cultural collisions, directed by Jason Winer, known for “Modern Family.” In the realm of TV series, Zhang Ziyi will collaborate with director Xue Xiaolu on “Rou Fu.”
Compared to the unpredictable film and TV industry of the past few years, the music industry has been more stable. After their marriage, Wang Feng released albums at a fairly regular pace, from “River” in 2015 to “29 on the Golf Course” in 2017, to “2020” in 2020, and “Maybe I Can Ignore Death” in 2022. He has maintained a frequency of one new album every two to three years, all the while being actively present in concert tours and variety shows.
After their marriage, not only did Zhang Ziyi step into the variety show market, but Wang Feng’s appearances in such shows also increased significantly. Apart from “The Voice of China,” he has been seen in “Let the World Hear,” “Singer 2018,” “Band Together,” “Band’s Summer Season 2,” “Youth Ï€ Plan,” and others.
In the past, there was a lot of controversy surrounding the mainstreaming of rock singers, and Wang Feng faced much skepticism. However, as various niche music genres, including rock, have gained more mainstream attention over the past few years, public opinion about Wang Feng has gradually improved.
Looking at their future career prospects, it seems their divorce will not have much negative impact. After the official announcement, the hashtag related to Zhang Ziyi’s new film “Jiangyuan Nong Murder Case” trended on Weibo, with netizens joking that her new film might be the biggest winner. As for Wang Feng, the trending topic was about his number of marriages. More than criticism, most netizens were humorously referring to it, as having a rich romantic history is nothing new for rock musicians, especially for someone like Wang Feng.
After the divorce announcement, not many of Wang Feng’s fans spoke up, as most of them are more interested in his music than his personal life. Conversely, Zhang Ziyi’s fans seemed visibly pleased, as this might mean “Zhang Ziyi can now focus on her career.”
Wang Feng is associated with 20 companies, 13 of which are still in operation. This includes Nanjing Jam Cultural Development Co., Ltd., Jiangxi Feier Technology Co., Ltd., and Bifeng Yizhu Changxing Cultural Media Studio. His business scope involves cultural media, information technology, and investment management.
Wang Feng has always been known not only for his musical talent but also for his uncanny ability to predict significant events in the lives of other celebrities. Netizens jokingly say that he can precisely foretell the dates when other stars will make major news and use the release of new songs to alert fans. This incredible phenomenon has earned him the label of “entertainment circle’s prophet.”
However, to most people, little is known about Wang Feng’s business side.
Wang Feng and His Thriving Business Empire
From setting up companies and building brands to live streaming and selling products, Wang Feng has always been more than just a musician. Since he first became famous, he has made the transition from a musician to a businessman.
- Rise to Fame: A Pure Rock Musician
In the 1990s, Wang Feng left the Central Ballet Troupe to become a singer, wandering the streets of Beijing, writing songs, producing albums, and constantly being in debt for rent.
Even after writing over a hundred songs, he was still struggling financially and couldn’t pay his rent. In a desperate move, he sold his debut song for 4,000 RMB, giving up all copyrights to cover his rent.
This experience angered Wang Feng as he felt he wasn’t being recognized for his commercial value.
It wasn’t until after 2000 that Wang Feng, who was now pursuing a solo career, released his first album “Fireworks”. Subsequently, hits like “Brave Heart” and “Blooming Life” followed. In 2013, Wang Feng joined the second season of “The Voice of China”. His catchphrase “What’s your dream?” went viral, and at this moment, Wang Feng truly became a household name.
However, the famous Wang Feng never forgot his once-dire circumstances. He once mentioned in an interview, “I can earn a lot from a single performance, but I know many musicians might not even have enough to eat.” Wang Feng felt ashamed, and the harsh reality deeply touched the wild side of this rock singer.
This is why Wang Feng is passionate about entrepreneurship. Despite his tremendous fame, he hoped to change the dire conditions of musicians by building a commercial ecosystem.
- Entrepreneurship: Manufacturing Headphones, Creating Platforms, Aiming to Benefit All Musicians
For Wang Feng, 2015 was a pivotal year. That year he successfully proposed to Zhang Ziyi and began to build his business empire.
In 2015, Wang Feng ventured into the headphone manufacturing industry, launching the Fiil headphones, aiming to be China’s version of Beats. With his immense popularity, the headphones received a million pre-orders upon launch. However, the actual conversion rate was not as impressive, with annual sales around 100,000 units in 2016.
On February 29, 2016, the internet music platform iwini, which was personally planned and crafted by Wang Feng, officially launched its first sub-platform, imixdio. This radio program combines audio and video, social interaction, and music derivatives, aiming to create a “new digital platform”.
On October 8, 2016, a new music platform called “Sui Le” (Fragment Music), built by Wang Feng as the product manager, officially launched. Its vision was to allow original musicians and all related content publishers to profit.
However, by July 2018, “Sui Le” had been renamed “Pineapple BOLO”, and under the impact of the short video trend, its product logic had been completely restructured.
From establishing a headphone brand to creating an online music platform, Wang Feng’s strategies reflected his sharp business acumen in the music domain. Yet, transitioning from a singer to a businessman wasn’t easy. Over time, Wang Feng’s dream of helping all musicians seemed to drift further away.
- Live-streaming Sales: One Live Session Nets 200 Million, Live Sales Prove More Lucrative Than Entrepreneurship
The challenges of entrepreneurship did not deter Wang Feng from his business pursuits.
From 2020 onwards, live-streaming sales were gaining immense popularity. Platforms like Taobao, JD.com, Douyin, and Kuaishou were actively recruiting big names for their live streaming sessions. Sensing the immense business opportunity, Wang Feng made a timely entry.
In July of the same year, JD.com announced on its official Weibo that Wang Feng had joined JD live streaming and was appointed as the “Chief Live Streaming Officer for JD Flash Sales”. On the evening of July 15, Wang Feng made his debut on JD live streaming. According to JD’s official report, sales during Wang Feng’s live session exceeded 200 million RMB.
This astronomical figure made Wang Feng realize the incredible revenue potential of live-streaming sales. Starting that year, he became a regular on the live-streaming circuit, opting to work independently instead of partnering with platforms.
In July 2022, Wang Feng held his first live-streaming sales session on Douyin. Within a month, he had hosted 7 sessions, with cumulative sales exceeding 500 million RMB.
As he became more adept at live-streaming sales, in August of the same year, Wang Feng’s single-session sales consistently exceeded 10 million RMB. He ranked 4th in daily sales among all hosts, trailing only Xiao Yang Ge and Dongfang Zhenxuan.
According to Feigua data, Wang Feng’s most recent live-streaming session was in January of this year, with sales around 2.5 million RMB. The primary products he promoted were alcohol and household items, including brands like Maotai and Wuliangye. From the audience demographic data, Wang Feng, who has created many popular songs for men in KTV, has again gained favor with male audiences, with over 71% of viewers being male, mainly between the ages of 31 and 40.
Wang Feng, a musician whose entrepreneurial spirit was held back by his musical career, has never ceased his efforts in business since 2013. He once believed that music and business shared similarities, driving him to persist in various ventures. He understood how to leverage his influence to achieve greater commercial value. Wang Feng gained widespread recognition on “The Voice of China” with his catchphrase, “What’s your dream?”. Now, as he vigorously promotes products in live streams, one might wonder if he still recalls the dream of benefiting all musicians.