Xiaoming, one of China’s highest paid male actors, has denied being
involved in stock price manipulation and investing in a vaccine maker
found by the Chinese regulator to have produced substandard products –
but apologised for his “indiscretion in wealth management” after the
revelation of his link to a private wealth manager found guilty of
A statement on social media by the actor, who has been referred to as
China’s Brad Pitt, just after midnight on Wednesday came after The
Economic Observer, a Chinese-language weekly, reported that Huang was
questioned for three hours by Chinese investigators because his money
was related to the prosecuted private wealth manager.
He was not charged with any wrongdoing, according to the report.
Huang also said he had never taken part in the purchase of Changsheng
Bio-technology stock, denying reports that he was a key investor in the
In the statement, Huang said he has a stock trading account in China but
that it was delegated to his mother to manage. He said his mother in
turn delegated the account to an agent surnamed Lu to manage.
Lu, according to Huang’s statement, assigned it to Gao Yong – who the
China Securities Regulatory Commission said on July 3 and August 10 had
been found guilty of manipulating stock prices by using 16 stock trading
accounts between 2014 and 2016, and fined 897 million yuan (US$130
million) on top of the confiscation of 897 million yuan acquired