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Did Shen Yue and Kung Fu Mantra terminate their contract?

No. According to a search of Shen Yue's personal profile, Shen Yue has signed a contract with Lhasa Kung Fu Mantra Film Co., Ltd. from 2016 to the present. Shen Yue (February 27, 1997 -), born in Wugang City, Shaoyang, Hunan Province, is best known for her masterpieces "To Our Simple Little Beauty", "Meteor Garden" and "July and Ansheng".