Wang Sicong, best known as the son of a Chinese property tycoon and a high-profile investor, has quietly added a restaurant-management company to his corporate portfolio, underscoring a strategic shift into consumer-facing, cash-flow businesses. The new firm, Beijing Yuwu Catering Management Co., was registered on February 9 with RMB 1 million in capital and a stated remit that includes restaurant management, food delivery services and commercial-complex operations. The largest shareholder is Beijing Shangji Enterprise Management Center (a limited partnership) with a 66.67% stake; Wang is a disclosed indirect holder through a 33.33% stake in that management center, giving him a meaningful but not controlling economic interest in the new venture.
The move comes amid a flurry of other, smaller investments by Wang in lifestyle sectors. In late January, a Wang-linked vehicle, Beijing Dade Houxin Investment Management, took a 16% stake in a Chengdu hospitality and nightlife operator in what platform filings mark as an A-round financing; the subscribed amount was modest at about RMB 216,200. Separately, a medical-aesthetics clinic registered in Beijing lists Wang among indirect shareholders alongside figures such as Gan Wei, indicating continued bets on beauty and personal services as growth themes.
Those outward signs of diversification sit uneasily beside recent signs of financial strain associated with Wang’s main investment platform, Beijing Pusi Investment. At the end of 2025 a Dalian court put an 8% stake in a cultural company that Pusi holds up for auction; the valuation attached by assessors was a negative RMB 1.67 million and the court set a symbolic starting price of RMB 107,500 to cover appraisal and fees. The detail — a negative appraisal and low starting bid — is a stark reminder that some of the offline-entertainment and content assets Pusi backed have become distressed.
Pusi, founded in 2009 and long presented as Wang’s principal investment vehicle, at one point touted more than US$1 billion in managed assets and investments across nearly 80 projects, from gaming and livestreaming to culture and media. High-profile successes gave way to painful reversals: Panda Interactive (the streaming business once led by Wang) collapsed after a dramatic expansion, several portfolio companies suffered cutbacks, and Pusi has repeatedly surfaced in enforcement lists as creditors seek repayment. Those pressures have forced asset sales and management exits, with one notable deal in mid-2025 seeing investment interests tied to He Youjun assume control of a major entertainment asset previously linked to Wang.
For international observers, Wang’s pivot matters less for its immediate commercial scale than for what it signals about China’s venture landscape and the tactics of celebrity-backed capital. As financing for livestreaming, esports and content creation has cooled and macro funding has tightened, many investors are reallocating to perceived necessities and everyday consumption — restaurants, delivery, personal care — where revenue is tangible and unit economics can be tested quickly. Wang’s new restaurant entity has small registered capital and looks like a low-cost experiment rather than an instant national chain launch.
The legal and reputational aftershocks of high-profile failures also shape what Wang can and cannot do next. Court-mandated auctions and repeated enforcement listings constrain liquidity and raise borrowing costs, and they make large, rapid roll-outs more difficult. Yet Wang retains intangible advantages — a recognisable personal brand, a wide social-media footprint and rich industry connections — that could be deployed to seed lifestyle concepts or to resuscitate experiential businesses tied to larger property and entertainment projects.
Ultimately, this episode illustrates two broader dynamics in contemporary China: the retrenchment of a once-heated content-investment cycle, and the pragmatic redeployment of capital into offline consumption and service sectors. Whether Wang’s foray into restaurants and beauty translates into durable enterprises will depend on executional discipline, the ability to secure stable cashflow, and, crucially, how successfully he can distance new ventures from the liabilities of his older, troubled holdings.