Everyone makes mistakes and may fall off the altar overnight, but not everyone can be like Wang Jianlin, decisive and decisive, and quickly make a comeback.
1
A big reversal
Now that Evergrande has been defeated like a mountain, can he still make a comeback?
It should be quite difficult, right?
The amount of debt is as high as 1.93 trillion yuan, which is equivalent to the total market value of a Moutai owed, and tens of millions of people stare at him every day to pay back the money, as long as it appears, it will be overwhelmed by angry creditors, who can survive such a day?
Heck, there's really somebody out of the way.
Four years ago, Wanda Wang Jianlin went from Being China's richest man overnight to being saddled with hundreds of billions of debts, a scene similar to evergrande today. At that time, there were even media judgments that Wang Jianlin could never come back.
Unexpectedly, in just four years, Wang Jianlin not only came out of the predicament, but also paid off most of the arrears, and his Wanda Commercial Management also obtained a huge financing of HK$46.8 billion, and is about to move to the capital market and go public in Hong Kong.
It is said that this market value may even exceed HK$470 billion, becoming the leading market value of Hong Kong stock properties.
Such a big reversal against the sky, how did he Wang Jianlin do it? In the four years of debt, what did Wang Jianlin do?
Take you through it all at once.
In 2015, Wang Jianlin gave a speech at Harvard University, and in the question-and-answer session at the end, a student raised his hand and asked, "Mr. Wang, where do you think wanda's core competitiveness is in overseas development?" ”
Wang Jianlin was silent for a few seconds, and used a microphone to spread a sentence throughout every corner of the venue: Wanda's first core competitiveness is to have money.
It was the highest-profile moment in Mr. Wang's life, and a year later, the 63-year-old defeated Mr. Li with a fortune of 170 billion yuan and returned to China's richest man.
2
He began to appear frequently on social media, where he spoke today, who he was interviewed again tomorrow, and with it came all sorts of out-of-the-loop phrases like "earn a small goal."
There are also many passages: "Is money omnipotent?" No, the money is Wanda's. Prince Si Cong also touched the light of the richest man in the king, and was sought after by men and women across the country as a national husband.
At that time, Wang Jianlin, who was full of spirit, set a new small goal, I want to make Wanda's assets reach 200 billion US dollars in 2020 and become a truly world-class business empire.
Before the words could be heard, Wanda began a crazy round of overseas investment, buying a building, buying a theater, buying a hotel, buying a football team, and spending nearly ten billion US dollars in a year.
During that time, Lao Wang was so busy that he did not touch the ground, and he took a private plane all day to travel around the world, sleeping on the plane, spending money on the plane, and did not care how much money was on the account.
By the end of 2016, Wanda Group had total assets of up to 800 billion yuan, with more than 200 Wanda Plazas, more than 10 Wanda Cities, 80 five-star hotels, and 1,500 theaters worldwide.
Boss Wang's mansion has a collection of thousands of rare and famous paintings, and the headquarters of Beijing Wanda is also a city, and all the rich and noble people are competing to befriend Wang Jianlin.
Wang Jianlin, who believes that "Tsinghua Peking University is not as bold as bold", even said, "As long as Wanda enters the industry, other enterprises, whether state-owned enterprises or central enterprises, have no opportunity to be the boss."
However, at this time, Wang Jianlin did not expect that a year later, in June 2017, Wanda suffered an epic Waterloo and began an unprecedented asset sell-off.
In 2017, the property market changed greatly, and wanda group reported debts of up to 420 billion yuan, and Wang Jianlin's "richest man" aura was shattered.
But Wang Jianlin He Xuren, who was born in the army and killed decisively, saw that the situation was not good, and quickly began a series of major decisions to cut off his arm and save himself.
Within a month, Wanda sold more than 70 hotels, including Beijing Wanda Jiahua, to R&F Real Estate for 19.906 billion yuan, and its 13 cultural tourism projects sold to Sunac China for 43.844 billion yuan, and later sold all 37 Wanda department stores to Suning.
At the same time, Wang Jianlin quickly sold overseas assets, sold 4 of the 5 overseas real estate projects, and began to reduce the shares of AMC, the largest theater in the United States, which was once high-priced. By the end of last year, Wanda had almost emptied all of its overseas assets and cashed out more than 250 billion yuan.
How beautiful it is when buying, buying, buying, and selling, how awkward it is when selling and selling.
3
Embarrassed
In order to continue to repay debts, Wang Jianlin also sold the shares of Wanda Group many times, and did not hesitate to pull down his face to ask the big guys in the circle of friends for help. Fortunately, the face of the richest man in the past is still very useful.
In January 2018, Tencent led the investment and acquired a 14% stake in Wanda Group with a strategic investment of 34 billion yuan, together with a consortium of four companies, Sunac Group, Suning and JD.com.
In February 2018, Alibaba invested 7.8 billion yuan in Wanda Film, accounting for 12.77% of the shares, becoming the second largest shareholder of Wanda Pictures.
In this way, Wang Jianlin relied on a large number of selling assets to obtain sufficient cash flow. While minimizing Wanda's debt, it can also keep Wanda up and running. This move has given Wanda a respite from its high debt, but it is not enough to turn the tables against the wind.
As the regulation of real estate continues to tighten and the era of lying down to make money is gone, Wang Jianlin resolutely turned the gun head and accelerated the transformation of light assets.
In 2018, Wanda Commercial Real Estate changed its name to Wanda Commercial Management, divested the real estate business, and was mainly responsible for the operation of Wanda Plaza.
To put it simply, he Wanda does not buy land to build a shopping mall, land and funds are from investors, he Wanda is responsible for managing rent collection, and the money collected is divided into a certain proportion with investors.
According to Lao Wang's plan, starting in 2019, at least 70% of the newly opened Wanda Plaza will be asset-light. In this way, Wanda will not be saddled with too much financial pressure, has sufficient cash flow, and can expand rapidly at low cost.
In the past four years, Wang Jianlin, who cut meat to pay off debts, has no longer been high-profile, and even disappeared on social media for a while, and even Xiao Wang, who is known as the Discipline Inspection Commission of the entertainment industry, has been quiet a lot.
In August this year, the media took a photo of Wang Jianlin attending the strategic cooperation conference between Wanda and FAW, and Lao Wang in the spotlight lost a lot of weight.
Now that Wanda's debt has fallen to 100 billion, Wang Jianlin has returned to the Forbes China Rich List.
Wanda Commercial Management has received investment from Country Garden, CITIC Capital, Tencent and Ant Group, plus Suning, JD.com and Sunac, which were invested in three or four years ago, and China's top billionaires have all used real money and silver to support Lao Wang.
Wang Jianlin, who was originally forced to transform, has now become the object of envy of real estate giants, envious of his stable rent, relaxed, and even more envious of his accurate vision, early action, and fierceness.
As Sun Hongbin commented on Jia Yueting, "Jia Yueting lacks the spirit of a strong man and a broken wrist, you see the old king of Wanda, this is a successful entrepreneur." ”