The two-star celebrity group, a domestic century-old shoe company, is caught in the whirlpool of family internal struggle. Its founder not only led the glorious double-star shoes industry, but also was the creator of many post-80s memories of domestic sneakers.

Recently, an open letter published by 84-year-old founder Wang Hai has been widely circulated on the Internet. In the letter, Wang Hai accused his son Wang Jun, daughter-in-law Xu Ying and grandson Wang Zidong of attempting to rob the company's official seal and restricting his personal freedom for up to two hours. He also mentioned that his daughter-in-law Xu Ying and his son Wang Jun had led people to break into his office, destroying surveillance equipment, beating staff and obstructing the meeting. Wang Hai claimed that he had reported the case to the public security organs and announced that he would suspend all businesses that require external authorization and stamp from the Double Star Celebrity Group and its subsidiary Celebrity Hai Industry and Trade Company from now on. In response to this, the Double Star Celebrity Group responded to the media: "Research and verification are underway."

Phoenix Finance called the official website of Shuangxing Celebrity Group, but no one answered. Since then, Phoenix Finance has contacted Double Star employees and dealers, and has generally received cautious responses. A dual-star employee said: "I don't know." Another Double Star dealer told Phoenix Finance: "It is not convenient to say that it is the information circulating on the Internet. The company is currently operating normally. Anyway, it is related to purchases for us, and we only have contacts with the sales staff below. It has nothing to do with whoever manages the company."

(Wang Hai)

(Wang Hai)

Since its establishment, the largest shareholder and chairman of the Double Star Celebrity Group was Wang Hai, and it was not until 2022 that Qingdao Xingmaida Industry and Trade Co., Ltd. became the largest shareholder of the Double Star Celebrity Group by increasing capital.

According to Aiqicha, Wang Hai is still the legal representative of the Double Star Celebrity Group. His son Wang Jun serves as supervisor and his daughter-in-law Xu Ying serves as director. It is worth noting that Wang Hai's personal shareholding ratio has dropped to about 21.88%. In 2022, Qingdao Xingmaida Industry and Trade Co., Ltd. became the largest shareholder of the Double Star Celebrity Group through capital increase, holding 56.96% of the shares, while Xu Ying and Wang Jun held 80% and 10% of the company's equity respectively, which undoubtedly increased the complexity of the power structure.

The open letter also mentioned that Xu Ying was appointed to take charge of finance in August 2024, but was removed from office in April 2025 due to "insufficient ability". This personnel change may further intensify the power conflict between family members.

Behind this dispute is the complex history of restructuring of dual-galaxy enterprises. Wang Hai is 84 years old this year. After retiring from the army in 1974, Wang Hai joined the state-owned Ninth Rubber Factory as a member of the working group of Qingdao Rubber Company. According to the official website of Double Star Celebrity Group, Wang Hai, as the first generation of outstanding entrepreneur in China, led Double Star Shoes and Clothing, created the Chinese people's own national brand - Double Star in just 10 years. Its official website said that at present, the dual-star brand is worth 49.2 billion yuan, and Wang Hai has won nearly 100 honorary titles such as national management expert and world celebrity, and Wang Hai's CEO is worth 32.1 billion yuan.

The predecessor of the Double Star Celebrity Group was the state-owned Qingdao No. 9 Rubber Factory established in 1921. Under the leadership of founder Wang Hai, Double Stars once became popular all over the country with the slogan of "Wearing Double Star Shoes and Walking the World with ease", and ranked first in sales for 15 consecutive years, becoming the leader in China's shoemaking industry. Especially the two-star green label black football shoes have become the collective memory coordinates of the post-80s generation for the era when the whole nation loves football.

The 84-year-old boss suspected that he had revealed that he was forced to cede by his son and daughter-in-law, and that the brand in the memory of the post-80s collapsed?

In 2002, Wang Hai divested the Double Star Shoe and Apparel business from the state-owned Double Star Group through "profit exchange" and established the Private Double Star Celebrity Group. Subsequently, Shuangxing Group (tire business) gradually divested its footwear assets, turned to tire manufacturing and internationalization (such as the acquisition of Kumho Tires), while footwear assets were controlled by the Wang Hai family, and Shuangxing Celebrity Group became a private enterprise. Today, Double Star Group (Tyre) and Double Star Celebrity Group (Shoe and Clothing) have no equity relationship.

However, in recent years, the Double Star Shoe Industry has gradually faded out of the mainstream sports market and turned to the sinking market and the elderly shoe field, relying on low-price strategies to survive, but it is also facing the dilemma of transformation. According to Aiqicha, Qingdao Shuangxing Group Hanhai Shoe Co., Ltd. (100% holding), invested by Shuangxing Celebrity Group, was listed as a dishonest debtor in April 2025. In addition, Qingdao Shuangxing Group Real Estate Development Co., Ltd. (95% of the shares) invested by the company and another company invested by Shuangxing Celebrity Group were both listed as the person subject to execution in February 2025.

[Editor in charge: Xie Wei PF123]