According to Theirsthe couple jointly announced their divorce on Weibo on Tuesday, confirming that the legal proceedings have been completed. Haiha will have custody of their daughter, with both parents committed to fulfilling child-support obligations.

Li and Haiha said they had not originally intended to make the divorce public, hoping for a quiet life. However, due to inquiries from friends and fans, they chose to share the news.

“We are both okay now,” the couple wrote in a joint statement.

The topic of their divorce quickly went viral, amassing over 170 million views and hundreds of thousands of comments, topping Weibo search trends within hours. Many fans expressed regret over the breakup, while others speculated on the reasons behind it. Most believed the separation was somewhat inevitable, but some pointed to financial pressures, suggesting that Li’s debt crisis was a primary factor. The keyword “Li Yapeng can’t pay debts, wife and child leave” attracted 42 million views and tens of thousands of comments.

According to SwampLi has been mired in debt since 2023. He faced a court-enforced payment of 40 million yuan (US$5.6 million) due to a failed art project in Lijiang, China. By 2025, his total liabilities from affiliated companies reportedly exceeded 450 million yuan. Some sources said he “couldn’t even pay employee salaries.” Despite earning over 200 million yuan in six months through livestreaming, his income was insufficient to cover his debts.

In February last year, Li broke down during a livestream discussing his finances. He explained that he had worked tirelessly for years, even surviving on fast food for a week, in hopes of paying off his debts. The actor admitted facing immense pressure, writing that “emotions overwhelmed ability,” leading him through “the darkest moments of life.”

Financial stress affected the family’s lifestyle, including limiting luxury spending, avoiding air travel, and losing property. In May, during a livestream, Haiha admitted that due to financial pressure, the family had to move from a luxurious 200,000-yuan home to an older rental apartment costing 20,000 yuan per month. She said with regret: “We do not own real estate and must prioritize paying off debts.”

Debt has also caused the couple to spend significant time apart. Haiha moved to Beijing, livestreaming daily to earn additional income, while Li spent much of his time in Yunnan managing a tea supply chain. The couple had not appeared together publicly for months.

Despite Li’s efforts, the debt situation has not significantly improved. Many on social media described him as a “business genius who lost direction,” citing failed investments in real estate during a market downturn, in a Maotai-inspired drink amid a shrinking liquor market, and in the acquisition of a high-priced tea brand during a “tea bubble” period. Some advised him to return to the entertainment industry and focus on acting.

Others acknowledged his efforts but said it was insufficient. One Weibo comment read: “Everyone has their ambitions.”

“Li Yapeng’s choices aren’t necessarily wrong, but leaving the arts to focus on business has clearly increased his pressure, tightened finances, and made life more passive,” this person continued.

Many believe Haiha became disillusioned after three short years of marriage. She was aware of his debts when they married but initially accepted sharing the challenges. In late 2024, during a livestream, when asked why she chose a man 19 years older and in debt, she responded: “What is love? It comes unexpectedly, but it is deep and lasting. Now it’s 2025, who still lets age be a barrier for love and marriage?”

Despite this sentiment, she ultimately chose to let go, according to QQ commentary.

Amid ongoing speculation, both Li Yapeng and Haiha have remained silent.

Li is best known for his prominent roles in popular Chinese television dramas such as “The Legend of the Condor Heroes,” “Laughing in the Wind,” “The Singer,” and “Eternal Moment.” He retired from acting in 2011 to focus on business ventures.

Li married pop diva Faye Wong in 2005, and they divorced in 2013, sharing a daughter, Li Yan. Li married Haiha in 2022, while Wong has since rekindled her relationship with singer Nicholas Tse.