According to Znews, The Cover reported that a journalist from the outlet contacted Li’s company, Lijiang Xueshan Investment Co., Ltd., regarding the incident. The company responded: “This is an internal matter. The company remains operational. Many real estate developers are facing similar circumstances.”

This is not the first time Li’s business has faced enforcement action. On May 27, Chinese media reported that three executives from the same company were also listed under enforcement orders, involving 2.44 million yuan.

Li, 54, has turned his attention to business in recent years, but his ventures have largely struggled. He is reportedly saddled with debts exceeding 40 million yuan, much of it linked to a failed real estate project in 2015.

Additional reports indicate that Li currently serves as the legal representative for two companies and holds shares in six—one of which has already shut down. He allegedly laid off around 200 employees in 2023 and still owes severance payments to several of them.

Once a household name in Chinese television, Li rose to fame through hit dramas like “The Legend of the Condor Heroes,” “Laughing in the Wind,” “The Singer,” and “Eternal Moment.”