1. The Rise and Fall of “Shaoben Shao”: A Pandemic-Era Investment
1.1 From Screen to Grill: Celebrity Endorsement Backfires
Chinese actor Zhang Han, renowned for his roles in Here to Heart and Youth Storm, is embroiled in a 22.49 million RMB ($3.1M) bankruptcy lawsuit involving “Shaoben Shao” barbecue chain. During the COVID-19 pandemic, Zhang acquired a 10% stake in Shaoben Shao (Shanghai) Catering Management Co., Ltd., positioning himself as the brand’s “Mars BBQ Curator.” The futuristic-themed restaurants featuring astronaut decor and volcanic stone floors initially attracted crowds, with Zhang hosting grand openings attended by celebrities like Cecilia Cheung and Li Zhiting.
By April 2023, however, Zhang quietly exited the company through equity changes. His studio claims he “fulfilled all capital contribution obligations” (totaling 1M RMB registered capital) and withdrew due to “irreconcilable differences with other shareholders”. Forensic audits later revealed systemic issues:
- 5 enforcement cases totaling 2.249M RMB unpaid debts (2023-2024)
- Tax non-compliance designation by Shanghai authorities (July 2024)
- Bankruptcy filings from creditors like Nanjing Zhongtianxia Catering
2. Legal Minefield: Shareholder Liability in China’s Restaurant Bankruptcy Cases
2.1 The 90-Day Clawback Rule and Its Implications
Under China’s Enterprise Bankruptcy Law (Article 32), transactions occurring 90 days pre-bankruptcy filing may be reversed. While Zhang exited 14 months before the June 2024 bankruptcy petition, plaintiffs argue his promotional activities created ongoing liability:
- Continued use of his likeness in franchise materials post-exit
- Social media posts allegedly misleading investors about his involvement
Legal expert Dr. Wang Lei (East China University of Political Science) notes: “Celebrity shareholders face heightened scrutiny. Even after divestment, courts examine whether their fame artificially inflated valuations or attracted unwary (franchisees).”
3. Celebrity Restaurants Under Scrutiny: Industry-Wide Reckoning
3.1 The Social Media Fallout: #CancelZhangHan Trends
Zhang’s case has ignited a firestorm on Weibo, with conflicting narratives:
Critics Argue:
- “Celebrities exploit fans’ trust for quick profits” (3.2M+ topic views)
- Comparisons to Chen He’s failed “Xianhezhuang” hotpot chain
Supporters Counter:
- “He tried supporting pandemic-hit businesses in good faith”
- Fan-led campaigns promoting Zhang’s upcoming drama Winter Aurora
Industry data reveals alarming trends:
- 72% of celebrity-backed F&B ventures fail within 3 years (China Cuisine Association 2025)
- Average lifespan of themed restaurants: 11 months vs. 4.3 years for traditional establishments
Epilogue: A Cautionary Tale for Star Entrepreneurs
As Shanghai Third Intermediate Court prepares hearings, this case underscores the perils of celebrity endorsements in China’s volatile F&B sector. Zhang’s team maintains he’s “cooperating fully to resolve debts,” but the damage to his reputation proves harder to quantify. For aspiring star investors, the message is clear: culinary ventures require more than just name recognition—they demand operational rigor and legal foresight.