China's 8-billion-follower MCN collapsed when its founder was a property scammer

Founded in 2021, Shenzhen Youliang Culture Media Co. quickly became one of China's largest multi-channel networks, managing a KOL roster with a cumulative 8 to 9 billion follower IDs. The company served over 3,000 brand clients including Armani, Givenchy, YSL, Estée Lauder, Lancôme, La Mer, Florasis, Cadillac, and OnePlus. Its top talent included Meiniye (31.4 million fans), Cai Luoli, Daimei'er Xiaobawang, and Chen Yili.

In August 2022, Meiniye publicly accused the company of fraud, alleging that founder Luo Guanyan had deceived her out of approximately 15 million yuan through a resettlement housing investment scheme. More KOLs came forward — Xiaogang Xuezhang reported losing 600,000 yuan. The scheme involved over 80 properties worth more than 200 million yuan. Luo faced criminal proceedings and the company was hit with hundreds of consumption restriction orders.

In December 2022, Shenzhen's Futian District Human Resources Bureau fined the company 30,000 yuan for failing to pay 498 employees 5.49 million yuan in wages. By 2025, Youliang was declared bankrupt by the Shenzhen Futian District Court on March 7, 2025, and the case was closed on July 7, 2025.