Li Yapeng, the former actor turned philanthropist, drew an extraordinary online crowd when he returned to livestream selling on the evening of January 23. Douyin platform metrics showed his broadcast quickly climbed to the top of the sales rankings, with an official “heat” figure reported at 16.84 million and a cumulative audience metric above 34 million; third-party analytics said more than 8 million people watched within 90 minutes and that gross merchandise value exceeded ¥50 million (about $7 million). He disabled the gifts/tipping feature during the stream, bowed to viewers in thanks, and repeatedly urged his audience to shop responsibly as items — from tea sets to other household wares — sold out almost immediately.
The spectacle is notable both for its raw commercial power and for the optics surrounding it. Peak concurrent viewers exceeded 100,000 and Li’s broadcast outpaced the runner-up on Douyin’s commerce leaderboard by a wide margin, underscoring how celebrity-led streams remain a potent force in China’s e-commerce ecosystem. Organisers and observers say the event also functioned as a reputational counterweight amid continuing questions about the finances and property dealings of the Yanran Angel children’s hospital and related charitable operations bearing Li’s name.
The hospital’s landlord has been identified as Zhang Yi, a founder and former chairman of the well-known medical-beauty chain Siyánlì (思妍丽). A representative confirmed Zhang did indeed found the company but said he sold his holdings years ago and no longer has ties to it. Siyánlì itself is a sizable operator: founded in 1996, it ran more than 160 high-end beauty outlets and 19 medical-beauty clinics across China and was acquired in 2025 by a healthcare firm for ¥1.25 billion. The landlord question has fuelled speculation that the property transaction might tie into larger medical-aesthetics ambitions — a suggestion denied by the landlord’s assistant.
Public figures have weighed in on the broader controversy. Veteran film producer Xiang Huaqiang recalled participating in a 2013 fundraising event for the Yanran Angel charity and praised Li’s personal commitment and integrity, while also arguing that the foundation’s current problems stem from weak financial planning, opaque accounting and an overreliance on celebrity clout. Xiang recommended that Li step back from day-to-day management and adopt the role of ambassador while professional teams run operations — an assessment that highlights the governance risks inherent to celebrity-led philanthropy.
The episode illustrates a broader tension in China’s digital economy: celebrity livestreaming can mobilise tremendous short-term capital and public attention, but it does not substitute for sound institutional structures. Rapid monetisation through streams can generate immediate liquidity to cover obligations, yet unresolved questions about asset ownership, transparent accounts and professional management leave organisations exposed to reputational and legal risk. Regulators and the public have grown increasingly sensitive to such gaps since high-profile platform and charity scandals in recent years.
For Li Yapeng, the livestream was a tactical success in converting public sympathy and star power into measurable sales and attention. It also buys time: large, visible cash inflows and a show of contrition may ease short-term pressure, but they do not resolve the underlying governance and contractual issues surrounding the hospital and the foundation. How Li responds next — by professionalising management, opening audits, or continuing to rely on celebrity-driven fundraising — will determine whether this episode becomes a template for crisis management or a recurring source of vulnerability for celebrity-led social enterprises.
The story matters beyond one celebrity. It is a reminder that China’s live-commerce machine can be harnessed to address liquidity shortfalls quickly, yet reliance on personality-driven appeals without robust institutional controls risks repeating the same cycle of public trust and doubt. Observers will watch whether platforms, the charity sector and regulators push for clearer rules on transparency and separation between personal brand and organisational governance.