Produced by Radar Finance Text | Ding Yu Editor | Meng Shuai
570 million sold in a single day! Jia Nailiang, who had “nothing to shoot”, was frantically digging for gold in the live broadcast room.
On October 21, the first day of the Double 11 promotion, from around 9 a.m. to around 10 a.m. late at night, Jia Nailiang broadcast continuously for more than 10 hours in the Douyin live broadcast room, with only a half-hour break in between.
On that day, the peak number of viewers of Jia Nailiang’s live broadcast room reached 7.012 million, and the single-day turnover exceeded 570 million yuan, setting a record for his single-day sales in the past three years.
Previously, when faced with the question “How can I still broadcast live after making money?”, 42-year-old Jia Nailiang gave a straightforward answer: “There is nothing to film.”
Jia Nailiang said frankly that the film and television industry is not that easy now, and his age is also very embarrassing. But he said that he still loves filming, “If I really have the opportunity, I will do it again.”
It is worth noting that the MCN signed by Jia Nailiang is the A-share listed company Yuanwang Technology, which was formerly known as the shoe company Saturday.
It is reported that the company has accelerated its transformation through the acquisition of Yuanwang Network and the divestment of its shoe business in recent years. However, from 2021 to 2025, Yuanwang Technology’s cumulative losses reached 3.7 billion yuan.
In the first half of this year, Yuanwang Technology achieved revenue of 1.34 billion yuan, a year-on-year decrease of 29.34%; it recorded a net profit attributable to the parent company of 153 million yuan, turning a loss into a profit year-on-year. However, the turnaround was mainly due to the 338 million yuan down payment received by the company from the sale of its shoe business.
As of the close of trading on October 26, Yuanwang Technology’s share price was 5.74 yuan per share, a decrease of more than 80% from the historical high, with a total market value of 5.325 billion yuan.
Jia Nailiang brought 570 million goods in a single day, breaking his personal live broadcast record
In fact, long before the “first battle” of Double 11, Jia Nailiang had already started high-intensity live broadcast to cooperate with Yuanwang Technology’s Double 11 live broadcast plan.
On October 10, Jia Nailiang launched a special high-end home textile bargain hunting session. The live broadcast lasted for about 8 hours, with a GMV of over 66 million yuan, setting a new record for live streaming in the home textile industry in the past two years. It ranked TOP 1 on the product list, store list, talent list, and live broadcast list.
On October 17, Jia Nailiang’s live broadcast room was “open” from 9 am to 6 pm; on the 19th, his live broadcast room was broadcast from 9 am that day to 2 am the next morning.
On the first day of Double 11 on October 21, Jia Nailiang started broadcasting ten minutes earlier than usual, broadcasting from 8:49 am to 10:21 pm, with only a half-hour break in between, and the effective live broadcast time was about 13 hours.
During the entire live broadcast, Jia Nailiang controlled and explained almost the whole process in person, rarely leaving it to the assistants. Attracted by his hard shouting and physical lucky bags including Apple 18, the peak number of viewers in his live broadcast room exceeded 7 million.
It is reported that the main transaction volume of this live broadcast is high-end international beauty, among which the sales of Estee Lauder’s single product exceeded 150 million yuan, and the sales of Helena’s black bandage exceeded 200 million yuan.
In the end, the single-day sales of Jia Nailiang’s live broadcast room on the 21st exceeded 570 million yuan, breaking his personal live broadcast record in the past three years.
According to the cover news report, some market estimates indicate that if the industry’s common commission ratio of 10%-20% is estimated, Jia Nailiang’s commission income for a single live broadcast can reach up to tens of millions of yuan, which is no less than the salary of a first-line actor for a single TV series.
What has attracted more attention is that the return rate of Jia Nailiang’s live broadcast room is only about 3%, while the industry average is about 20%. A lower return rate is usually regarded as a signal that consumers have higher trust in the anchor’s product selection, and it also directly drives conversions and repurchases.
Gray Dolphin data shows that as of press time, the total number of fans on Jia Nailiang’s Douyin account has exceeded the 50 million mark, with 1.432 million new fans added in the past 30 days, of which nearly 700,000 fans were added on the 21st alone.
As an actor, there is “nothing to film”, but he transforms and brings goods to his “second spring”
Jia Nailiang, the live broadcast anchor who is now very successful in the live broadcast room, was still an actor in his early years.
Public information shows that Jia Nailiang was born in Harbin, Heilongjiang Province in 1984 and graduated from the Performance Department of Beijing Film Academy.
In 2002, Jia Nailiang, who had not yet graduated, officially entered the entertainment industry by participating in the TV series “Beijing Holiday”. The following year, he played the leading role in “The Song of the Tang Dynasty”.
Later, he won the 8th Huading Award for Best Actor in a Chinese Urban Theme TV Series for “When Mother-in-Law Met Mom”. His representative works also include “The Most Beautiful Time”, “Male Obstetrician Doctor” and so on.
However, the public is more familiar with the short-lived marriage between Jia Nailiang and Li Xiaolu. The two got married in 2012, completed the divorce procedures in 2018, and officially announced their divorce at the end of 2019.
During the same period, Jia Nailiang’s career as an actor also gradually declined. According to Dahe News, the last TV series he starred in and was officially broadcast was “The Creation Season”. The filming of the series was completed in December 2019 and will be broadcast in 2024 after many years of backlog.
In June this year, some netizens asked in his live broadcast room, “How can I still live broadcast after making money?” Jia Nailiang responded that the reason was that he had “nothing to film.”
Jia Nailiang admitted frankly that as an actor, he was “not very talented”. No matter how early he got up, how late he finished work, or how well he memorized his lines, the final effect he presented could only be “passed.”
He also said that the film and television industry is not that easy to work now, and “directors don’t come to me that much.” In addition, the new generation of actors continues to rise, and I am getting older and older, and I am in a bit of an embarrassing situation – “I can’t play the role of my elders, and I can’t live up to the role of idols.”
However, he still said that he loves filming, “If I really have the opportunity, I will do it again.”
Jia Nailiang’s transformation into a live streaming anchor was in 2020. In July of that year, he entered the field of live streaming as a “Suning Live co-host”. Starting in August 2021, he started broadcasting in his own name, signed a contract with Yuanwang Technology, and gradually grew into Douyin’s top star and goods anchor.
Although he claims to be not good at acting, Jia Nailiang’s record in live streaming is quite impressive.
According to NetEase, during Double 11 in 2023, the total scale of Jia Nailiang’s sales exceeded one billion yuan, setting a sales record for celebrity anchors at that time; in 2024, the sales of a single live broadcast on 618 reached 450 million yuan, and the GMV of that month exceeded 700 million yuan. During the promotion period, 27 single product links sold over 10 million yuan; in 2025, he also topped the platform’s sales list many times, and 618 and Double 11 nodes successively won multiple billion-level transactions.
Tianyancha shows that currently, Jia Nailiang is associated with 11 companies, of which many film and television and media studios have been cancelled, and only 6 companies are still in existence.
These six surviving companies specifically include Beijing Jinyang Asset Management Center (Limited Partnership), Hainan June Day Trading Co., Ltd., Haikou Manchuan Culture Media Co., Ltd., Hangzhou Liangshan World E-Commerce Studio, Boxue Sixing (Beijing) Education Technology Co., Ltd., and Xiangshan Liangshan Film and Television Culture Studio.
The main operator of Jia Nailiang’s live broadcast room is Hangzhou Tongyao Network Technology Co., Ltd., which is actually controlled by his sister Jia Shan.
Yuanwang Technology’s cross-border transformation resulted in a loss of nearly 3.7 billion in five years
Yaowang Technology, the MCN that signed Jia Nailiang, was formerly the A-share shoe company Saturday. The latter entered live streaming e-commerce by acquiring the MCN organization Yaowang Network in 2019, and then gradually divested its shoe business.
In 2022, Saturday’s name and securities abbreviation were officially changed to “Yuanwang Technology”, becoming “the first live streaming e-commerce stock”.
According to the investor relations activity record form disclosed by Yuanwang Technology in December 2019, Yuanwang Network’s initial business was mainly PC advertising, and its customers were mainly large Internet companies such as BAT, 360, and NetEase.
In 2015, the company’s business began to extend to the mobile terminal, and the mobile entertainment product promotion business developed rapidly, including the promotion of mobile games, as well as the drainage of e-commerce platforms, video applications, live shows and other applications.
In 2016, Yaowang Network launched the mobile WAP alliance and tested and operated a marketing business based on Tencent ecosystem traffic.
In 2017, Yuanwang vigorously developed marketing business based on the traffic of Tencent ecosystem, and continued to enrich traffic monetization channels, including different types of consumer e-commerce, paid reading, paid courses, etc.
In 2018, the scale of Yaowang Network’s marketing business based on Tencent ecosystem traffic further expanded; on the other hand, Yaowang began to link celebrities, celebrities and brand e-commerce companies to develop social e-commerce service businesses in the form of short videos and live broadcasts for short video/live broadcast traffic such as Douyin, Kuaishou, and Taobao Live.
By the end of 2019, Yaowang Network has more than 50 Internet celebrities and more than a dozen contracted celebrity artists; it has also established a joint venture with celebrity brokerage companies to monetize celebrity e-commerce.
After merging with Yaowang Network, Yaowang Technology has fully taken over this “Internet celebrity model”. The company’s official website shows that as of March 2, 2026, it has signed contracts with more than 70 celebrity anchors such as Jia Nailiang, Wang Zulan, Cecilia Cheung, and Zhao Yazhi, and more than 150 talented anchors.
In addition, Yuanwang Technology also co-founded Hangzhou Longzeling Network Technology Co., Ltd. with Long Yueqian, which owns two artists, Huang Zitao and Xu Yiyang.
However, after the company’s business transformation, Yuanwang Technology’s performance has experienced long-term “pains.” Flush iFinD data shows that from 2021 to 2025, the company has suffered losses for five consecutive years, and the cumulative loss of net profit attributable to the parent company is approaching 3.7 billion yuan.
In 2024, the revenue of Yuanwang Technology also declined, down 0.3% year-on-year to 4.763 billion yuan; in 2025, the company’s annual revenue was 3.303 billion yuan, down by about 30% year-on-year.
In the first half of this year, Yuanwang Technology achieved revenue of 1.34 billion yuan, a further decrease of 29.34% year-on-year. It recorded a net profit of 153 million yuan, turning a loss into a profit year-on-year. However, after deducting non-net profit, it still lost 192 million yuan, and the loss size narrowed by 24.42% year-on-year.
Regarding the decline in revenue, Yuanwang Technology said that firstly, it was because the new media advertising business company took the initiative to shrink its business revenue scale; secondly, the shoe business was no longer included in the company’s consolidated statements from the second quarter after the divestiture was completed; thirdly, because the company actively implemented structural optimization of the social e-commerce business, and resources were further concentrated on high-margin high-quality accounts and core IP.
Regarding the turnaround in net profit attributable to the parent company, Yuanwang Technology explained that in March this year, the company received the first payment for the sale of the shoe business, with an estimated amount of 338 million yuan. This part of the income is non-recurring profit and loss.
In addition, the company implemented a dual-track strategy of “shutdown + transformation” for unprofitable projects in its live broadcast e-commerce and commercial business; and implemented stricter control on the cost side. Sales expenses decreased by 59.8% year-on-year to 32 million yuan, administrative expenses decreased by 12.25% year-on-year to 160 million yuan, and research and development expenses decreased by 17.5% year-on-year to 27 million yuan.
From the perspective of business structure, in the first half of the year, the company’s revenue from the Internet advertising industry was 1.302 billion yuan, a year-on-year decrease of 27.73%, accounting for 97.16% of total revenue.
During the same period, the company’s revenue from the clothing and footwear industry was only 31 million yuan, a year-on-year decrease of 64.25%, accounting for only 2.31% of total revenue.
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