(Yicai Global) Aug 2 -- Shares of the listed companies behind the producers and investors of the Golden Hairpin, a highly anticipated Chinese television drama, fell further today after the show’s lead actor, K-Pop star Kris Wu, was detained by police in Beijing.

The police confirmed on July 31 that Wu had been taken into custody on suspicion of rape, leaving in doubt the drama’s third-quarter online release through Tencent Video. A criminal investigation into Wu is ongoing.

But there are still two possible routes open to bring the drama to air, according to industry insiders. First, digital visual effects could be use to replace Wu’s face with that of another actor. That option is expensive, however. Second, the drama could be entirely reshot, which is both costly and a major challenge.

Sources estimate that the show’s three producers -- Tencent Penguin Pictures, New Classic Media and Fonghong Film -- have already invested between CNY300 million and CNY600 million (USD46.4 million and USD93 million) in it.

The producers are affiliated to three listed firms: Tencent Holdings, China Literature, in which Tencent and its affiliates own 59 percent, and Jiangsu Phoenix Publishing & Media.

Shares of China Literature [HKG: 0772], which have slumped over 16 percent to HKD70.60 (USD9.10) or so since July 19, dropped to an almost five-month low of HKD68.30 in intraday trading today. They closed at HKD71.2, down 1.1 percent. Phoenix Publishing [SHA: 601928], which has fallen nearly 5 percent recently, dropped 1.6 percent to CNY6.3 (USD1).

The Hang Seng Index ended up 1.1 percent, while the Shanghai Composite Index finished 2 percent higher.

Besides those three firms, Shanghai-listed Cultural Investment Holdings has also been impacted because its affiliate, Beijing Yaolai Film & Television Culture Media, acts as a full-fledged agent and is in charge of Wu’s advertising and movie work on the Chinese mainland. Yaolai Film has found it hard to distance itself from the claims made against the Chinese-Canadian singer and actor.

More than 10 brands and partners that penned endorsement deals with Wu, including Tencent Video, have terminated the contracts after online posts accused him of repeatedly seducing young women into sexual relations.

Born in November 1990, Wu officially got into the entertainment industry as a member of boy band EXO in South Korea in 2012. He terminated his contract with SM Entertainment in 2014 and moved to China.

Editor: Peter Thomas