They're targeting the industry that markets a very specific kind of guy to appeal (typically) to young straight women, one that's basically a K-pop male idol stereotype.

I am not knowledgeable enough about the details to say a whole lot other than it's not simply an anti-LGBTQ thing and that gender/sexuality tropes in China are different from but still as complex as those in The West.

To understand what's happening we really do need to hear from some Chinese comrades.