Chinese influencer who owns Three Sheep Network buys property belonging to bankrupt company for 130m yuan


    14th November 2022 – (Beijing) A Chinese influencer on Douyin, Chinese version of TikTok invested 103 million yuan to buy the property of a bankrupt technology company. Yang became popular through sharing interactions with relatives and friends and he has accummulated more than 100 million fans. He founded Three Sheep Network in 2021. According to reports, Yang recently announced that he spent 130 million yuan to purchase the property of the bankrupt Unioriental Optics Co.,Ltd in Hefei, intending to use it as the global headquarters of Three Sheep Network and will incur an additional 500,000 yuan for software services.

    He emphasised that the real estate in Hefei was bought in the name of the company, not under the name of an individual. The property purchased includes a 15-storey production building, a 6-storey staff dormitory and restaurant, and 3 factories. At the end of September, the real estate was auctioned for 116 million yuan, and it was finally sold after the price was reduced to 103 million yuan at the beginning of this month.