CNBC AI News reports that Li Guoqing, the founder of Dangdang, has announced the finalized dissolution of his marriage with Yu Yu on social media. According to a recent post, the couple has reached a final settlement regarding the division of assets.
Li expressed his gratitude to the court for its fairness and to the public for their years of support for Dangdang. He also apologized for any disruption caused by their personal affairs.
Furthermore, Li extended his wishes for Dangdang, now free of the shareholder governance deadlock, to continue its role as a leading platform for readers under Yu Yu’s leadership. He also expressed hope for the company to continue its mission of being a spiritual home for readers.
Beyond the separation, Li Guoqing indicated his intention to pursue new ventures, positioning himself to “lightly” embark on deploying AI applications, exploring the intersection of technology and the humanities, and seeking a symbiotic relationship between charitable endeavors and business.
The narrative began in 1996, when Li Guoqing met Yu Yu in the U.S. Three months later, the couple married and they co-founded Dangdang in November 1999. However, the parting of ways was far from smooth. This separation brought to the forefront not just personal matters but also financial disputes, along with a power struggle over internal management.
In December 2018, Li publicly accused Yu Yu of forcing him out of Dangdang and demanding her resignation as chairperson. The couple then entered a protracted, very public disagreement that lasted for several years.
In June 2020, a second instance hearing of the divorce case took place in the Dongcheng District People’s Court. The court only reviewed the breakdown of the relationship without delivering a verdict. In the same month, the case of Li Guoqing’s seizure of company seals was closed, with police finding no wrongdoing. However, Dangdang responded with condemnation and sought administrative review.
In August 2020, Li Guoqing and Yu Yu were sued by their son, who sought the court to validate the proxy agreement for the shares of Dangdang held by his parents.
Later, in October 2022, when Li Guoqing hosted a live stream with Yu Minhong, he was asked about a new relationship. During the stream, Li emphasized that since the second instance judgement was not yet rendered, the divorce could not be finalized.
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