All the kickboxing is on hold, Wu Lin Feng included. Some national sports org told to hold off on events till ~end of April.
Not seen any news about Wu Lin Feng resuming yet, so probably the show they'd normally hold end of this month is not happening, maybe end of next month the situation is good enough, we'll see. They could definitely do a no audience studio show to resume things.
I'm not entirely sure but I think EM is owned by some rich real estate guy or something, so they might be able to go on low money burn mode for forever. Wu Lin Feng, in my estimation at least, isn't profitable. All my info is basically through google translate so it's always a little bit fuzzy, having followed the China scene for 5+years now I still generally understand the basics
. They tried to privatise Wu Lin Feng last year (or was it the year before that already? lol), in 6 months they seemed to have lost $10mil, the company running it left staff unpaid, lawsuits etc. It was a mess.
Wu Lin Feng goes all over the world and they do a bunch of shows so I'm sure they see it as some kinds of soft power/sports diplomacy kind of nonsense too. They like to to post about Canadian/US mayors, politicians etc. having sent them letters of oh how nice it was to work together and way to go China blaablaablaa. It's a tool. The tv channels are in the end basically all government owned so they can to some extent keep subsidising things that they can explain serving some kind of a purpose.
About Kunlun, they're not completely dead yet. The Combat League thing is supposed to continue and the plan is/was to expand them doing an MMA version of it as well. The bigger shows are kind of done, they've seemed to have planned to do 70kg, 75kg, HW and maybe some 60-66kg tournament every year. With ONE and Glory around they are kind of fucked for talent though when they can't really keep them active year around anymore. No Superbon, no Kryklia etc. The shine of their tournaments being great, that time is over unless they really figure something out. The "capital winter" has been a theme with all the main promotions in China and they've sort of openly talked about the financial challenges compared to a few years ago. Now this corona virus bs sure isn't helping things unless the government decides to pour money into sports.
All the bigger Chinese promotions have definitely fumbled on some things. Kunlun should have done a much better job trying to sell the product for tv/streaming internationally in their peak years, instead it mostly came available after that, and people aren't that interested anymore. Wu Lin Feng is a weird one too, they have a decent product and could probably just kind of slap English commentary on it and sell it at least enough to cover the costs of doing that...but naah, why bother. Rizin got government support in Japan towards the internationalization of their shows, no entity in China would do the same?