News of Selina Jen and Hebe Tien deciding against renewing their respective contracts with their record company, HIM International Music, emerged earlier this week. This comes after Ella Chen confirmed that her husband, Alvin Lai, will be setting up a company, Jinhua Entertainment, to represent her.
Following the announcement, HIM’s stock prices have slid sharply, with reports stating that they have fallen as much as 9.92 per cent. The company’s largest shareholder, C-Media Electronics Inc. Co., Ltd., which is said to own more than 12 per cent of HIM, also saw its stock prices tumbling by 9.71 per cent, reaching a 16-month low.
S.H.E has been regarded as HIM’s most high-profile artiste, raking in one of the highest revenues for the company for over a decade.
Industry insiders have remarked that the drop in stock prices is not unexpected, especially since there will be fears that HIM will be unable to maintain its ability to rake in the cash after the trio leaves the company.
In related news, someone claiming to be a longtime employee of HIM shared that the S.H.E members had thoughts about leaving the company a decade ago but did not act upon this.
The source added that the members shouted, “See you next year!” at their recent anniversary concert in order to hint to their fans that they have every intention of working closely together in the future, but could not comment on how Selina, Hebe and Ella will be carrying out group activities after their contracts expire with HIM.
Photo: PBE Media
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