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According to Sinchewduring an International Children’s Day event at the kindergarten he owns, Li shocked attendees by declaring that he would transfer the ownership of the property to an education manager, free of charge.

“When people come into this world, they must do something for society,” said the actor. “This is not about wealth. It’s about personal values.”

Li established the kindergarten in 2011 with a personal investment of 100 million yuan (US$13.9 million). Over 14 years, he developed a unique model combining elements of Chinese culture, making it one of the top private kindergartens.

His decision to give away the school, however, has sparked heated debate. While Li framed the act as a contribution to society, some critics argue that it’s a result of his financial struggles following failed business ventures. They suggest that his donation is a way of offloading his assets due to his inability to pay off debts.

“He fails at everything!” one commenter said.

“Pay off your debts first,” said another.

“His wife and kids are renting while he gives away assets,” a third remarked.

Earlier last month, Li’s wife, model Haiha Jinxi, disclosed in a livestream that the family is under financial strain due to an unpaid debt of 40 million yuan (US$5.6 million) from Li’s failed real estate investment in 2015.

Haiha also shared a video of herself managing the move from a villa to a smaller apartment alone while Li was away for work. Despite these challenges, she emphasized her ongoing support for him.

Li, 54, was once one of China’s most prominent television stars, known for his leading roles in popular series such as “The Legend of the Condor Heroes,” “Laughing in the Wind,” “The Singer,” and “Eternal Moment.” He stepped away from acting in 2011 to focus on his business ventures.

Haiha, 35, gained recognition after competing in the 2011 Miss World China pageant and later pursuing a modeling career.

The couple married in 2022. This is Li’s second marriage; he was previously married to pop diva Faye Wong from 2005 to 2013, with whom he shares a daughter, Li Yan. Wong has since rekindled her relationship with singer Nicholas Tse.