Artist Cheng Yi under the company's umbrella will not renew his contract when it expires? Huanrui Century staff respond

Actor Cheng Yi's contract with Huanyu Entertainment has expired, and the issue of renewal has attracted attention. On January 18th, there were rumors on the internet that Cheng Yi's contract with Huanyu Century had recently expired, and both parties confirmed that they will not renew the contract. The hashtag "Huanyu Century" trended on that day. On January 19th, a journalist called Huanyu Century Joint Stock Company's investor hotline inquiring as an investor about the rumor that their artist Cheng Yi will not renew the contract. A staff member responded, "We will announce the final decision." In addition, regarding the recent drop in the company's stock price, the staff member stated, "It should not be related to the above rumor," and attributed the stock price fluctuation to market behavior. Wind data shows that Huanyu Century's stock price has fallen for 3 consecutive days, with a total drop of 12.32%. Specifically, the decline on January 15th, 16th, and 19th were 7.21%, 5.14%, and 0.38% respectively.