He Youjun acquires Sanya Haitang Bay land parcel for 681 million yuan, targeting Hainan e-sports and cultural tourism business

Ho Yau Chun makes his first move in Hainan.

On May 8, the HT08-09-02 plot in Haitang Bay, Sanya, was officially released for sale. Hainan Xingju Jiayuan Real Estate Co., Ltd. won the bid with a reserve price of 6.81 billion yuan.

According to information on the Qichacha platform, Hainan Xingju Jiayuan Real Estate Co., Ltd. is held by Ningxia Xinjia Yuan Group (70%), Hainan Xingjing Weiwu (20%), and Hainan Huanju Commercial Investment (10%), respectively.

After looking through the ownership structure, the ultimate major shareholders behind Hainan Xingjing Weiwu and Hainan Huanju Commercial Investment both point to Xingjing Weiwu (Hong Kong) Co., Ltd., whose ultimate beneficiary is Ho Yau Chun.

With a wave of his hand, Ho Yau Chun spent 6.8 billion yuan to secure a plot in Sanya’s luxury hotel area. He plans to combine the e-sports business with cultural tourism.

In fact, Ho Yau Chun’s land acquisition this time can be described as having been well signaled in advance.

Back to October 4, 2025: Sanya City and the Xingjing Weiwu Group officially signed a cooperation agreement in Macau, announcing that they would build Sanya’s “Blue Power Sports and Leisure Resort” project in Haitang Bay. After the project is completed, it is expected to generate an average annual output value of over 1.1 billion yuan.

Under the agreement, Xingjing Weiwu will focus on immersive experiences, building a cluster of top-tier sports venues including e-sports, basketball, padel tennis, pickleball, rock climbing, and more. The project will be developed into an integrated sports and leisure resort combining sports competition, leisure and entertainment, family parent-child activities, and trendsetting socializing.

At the same time, Xingjing Weiwu and Huanju Commercial Management will also support Hainan’s exhibition economy and cultural and sports events, bringing resources such as music festivals, electronic music festivals, comic conventions, e-sports competitions, and other sports events to Hainan every year.

Ho Yau Chun began preparing for the land acquisition. Half a month after signing the agreement, Hainan Huanju Commercial Investment Co., Ltd. was registered and established in Hainan Province. By December 18, when the entire island of Hainan Free Trade Port was closed for customs, the Xingjing Weiwu and Huanju Commercial Management teams had already completed their entry into the Qionggang Economic Cooperation Sanya Demonstration Zone.

In January 2026, the Sanya “Blue Power Sports and Leisure Resort” project was included in Hainan Province’s 2026 key projects list, with a planned total investment of 1.4 billion yuan. By this point, Ho Yau Chun’s e-sports and cultural tourism project had received provincial-level policy backing; it only awaited the momentum from the listing of the land parcel to move forward and be implemented.

Therefore, the HT08-09-02 plot in Sanya Haitang Bay can be said to be the key carrier tailor-made for this collaboration—the first step toward implementing the project.

It is understood that the plot is located in the core inland area of Haitang Bay National Coast, with a plot ratio of 1.2, and a maximum planned permitted gross floor area of 88,764 square meters. The total land area is 73,969.80 square meters, including 42,162.79 square meters for retail commercial land, 23,670.33 square meters for business and financial land, and 8,136.68 square meters for hotel land.

In addition, according to the requirements for the land grant, the plot restricts applicants from applying separately. The parcel is planned to construct an integrated e-sports, sports, and cultural tourism-oriented commercial project. Bidders or their related enterprises must be listed companies, and within the past five years must have hosted international-level or national-level e-sports event activities.

Moreover, the development of the Haitang Bay area also requires that bidders or their related enterprises must invest a total project investment amount of no less than 1.4 billion yuan in Sanya.

An e-sports cultural tourism project, listed e-sports companies, and an investment amount of 1.4 billion yuan—these three conditions almost precisely match the “Blue Power Sports and Leisure Resort” project, so it is not surprising that the plot ultimately went to Xingjing Weiwu Group.

It is worth noting that the previous commercial land parcel successfully granted within the same area was acquired by Wuyou Media, a leading domestic live-streaming e-commerce company. In December 2025, Wuyou Media won the HT08-09-01 plot in Sanya Haitang Bay at a reserve price of 6.11 billion yuan, with a transaction floor price of approximately 8,727 yuan per square meter.

This time, the floor price for the Xingjing Weiwu Group plot was 7,677 yuan per square meter. It is only one street away from Wuyou Media’s “Sanya Wuyou Haitang Xu,” yet the plot quality and transaction price are “more volume without extra cost.”

In terms of supporting facilities, the plot’s east side faces Haitang River, and across the river is a group of top luxury hotels including Mangrove Tree Resort Hotel, Atlantis Sanya, and Mandarin Oriental. Nearby are high-end residential projects by China Resources Land, such as China Resources Haitang Yuefu, the Wuyou·Haitang Xu that is preparing to enter the market, as well as the under-construction Sanya Vientiane City and Renmin University Sanya School.

From signing the agreement to securing the land, Ho Yau Chun’s e-sports and cultural tourism business in Sanya took half a year to take the first step from blueprint to reality. However, there have long been precedents for the vision of integrating e-sports with business and cultural tourism.

Ho Yau Chun’s business map started with e-sports.

According to available information, Ho Yau Chun first established the V5 e-sports club in 2018, merged with eStar e-sports in 2020 to form Xingjing Weiwu Group, and then in 2023 acquired Sweden’s NIP club, successfully connecting the Asian, European, and American markets.

In July 2024, Xingjing Weiwu Group listed on Nasdaq, earning the title of “China’s No. 1 e-sports stock.”

In its financial reports, Xingjing Weiwu Group explicitly states that it will “transform from an e-sports business as its core into a comprehensive digital entertainment group.” Ho Yau Chun’s “e-sports +” model was thus launched for exploration, seeking to convert online traffic into offline consumption.

Xingjing Weiwu Group acquired a talent agency—Ying Future—focused on short video content creation and the incubation and operation of influencer accounts. In August 2024, it reached an exclusive strategic cooperation with BTG Hotels Group, jointly establishing a joint venture company and rolling out e-sports-themed hotel services. In June 2025, it completed the acquisition of 40% of the equity interest in Beijing Huanju Commercial Management Co., Ltd., owned by Wang Sichong…

By paving the way for physical commercial development driven by game and club popularity, Ho Yau Chun has repeatedly added a piece of the offline commercial operation puzzle for e-sports monetization, while also laying an operational foundation for the Blue Power Sports and Leisure Resort project.

However, the rush to shift online returns toward offline monetization may be related to the inherent limitations of the e-sports business itself.

In November 2024, Xingjing Weiwu Group released its first financial report after going public. For the first half of 2024, total net revenue was 39.30 million US dollars, up 1.8% year over year. Net loss was 4.70 million US dollars—although the losses narrowed, it still had not achieved profitability.

In the same period, the company’s two major segments generated revenue of 8.781 million US dollars from its e-sports team operations, down 10.8% year over year, accounting for 22.3% of total revenue; and 21.901 million US dollars from artist management services, down 18.5% year over year, accounting for 55.7% of total revenue.

Based on the latest data, Xingjing Weiwu Group’s total revenue for fiscal year 2025 was 127 million US dollars, up 48.39% year over year. However, net profit attributable to the parent company was -237 million yuan, down 1771.24% year over year. This was affected by asset impairment, equity losses of subsidiaries, strategic transformation investments, and other factors—while losses continue to deepen.

Although the concept of e-sports has been introduced, Ho Yau Chun’s attempt this time in practice has not fundamentally departed from the logic of traditional resort development. Whether the high investment can successfully provide “cash flow support” to the e-sports business remains to be seen.