Wang Jianlin plans to sell Wanda Plaza in the first and second tier cities
Wanda Group has been making frequent moves recently.
On December 6, according to the surging news, Zhuhai Wanda Commercial Management recently revealed in the process of communicating with investors that Wanda Group plans to sell its Wanda Plaza in first- and second-tier cities in exchange for liquidity, and is currently negotiating with insurance institutions.
However, Wanda did not disclose which insurance institution it approached. At the same time, as for the timing of Zhuhai Wanda Commercial Management's listing in Hong Kong, Wanda said that there is still no IPO timetable.
Previously, Wang Jianlin had a number of Wanda Plazas acquired.
Tianyancha shows that at the beginning of June, the major shareholders of the three shopping malls of Shanghai Songjiang Wanda Plaza, Xining Haihu Wanda Plaza, and Jiangmen Taishan Wanda Plaza were successively changed from Dalian Wanda Commercial Management to "Zhuhai Wensheng Enterprise Management Co., Ltd.", and the figure of "Everybody Life Insurance" appeared behind the company.
At the end of June, Wanda Real Estate transferred 85.7206% of the shares held by Wuhan Huada Jiuhao Innovation Investment Partnership, and the receiver was China Huarong Asset Management Co., Ltd.
On October 7, Dalian Wanda Commercial Management Group Co., Ltd. transferred 100% of the equity of Shanghai Wanda Plaza Real Estate Co., Ltd. to Shanghai Jiasheng Management Consulting Partnership (Limited Partnership) and Wuhu Puyu Equity Investment Partnership (Limited Partnership).
It is reported that the asset of Shanghai Wanda Plaza Real Estate is Zhoupu Wanda Plaza, which opened in September 2009 and is the second urban complex project operated by Wanda Group in Shanghai after Shanghai Wujiaochang Wanda Plaza.
It is worth noting that yesterday, Wang Jianlin also announced that he would abandon Wanda Films.
On December 6, 2023, Wanda Film announced that it received a notice that Beijing Wanda Cultural Industry Group Co., Ltd., the indirect controlling shareholder of the company, its wholly-owned subsidiary, Beijing Hengrun Enterprise Management and Development Co., Ltd., and Wang Jianlin, the actual controller of the company, intend to transfer 51% of the shares of Beijing Wanda Investment Co., Ltd., the controlling shareholder of the company, to Shanghai Ruyi Investment Management Co., Ltd.
If the above matters are finally implemented, it will lead to a change of control of the company.
Prior to this, Wanda Film was frantically reduced by Wang Jianlin this year.
On March 18, Wanda Film announced that the company received the "Share Reduction Notification Letter" issued by Wanda Culture Group, the controlling shareholder acting in concert, and Wanda Culture Group reduced its holdings of 43,565,300 shares of the company's unrestricted tradable shares through the block trading system of the Shenzhen Stock Exchange, accounting for 2% of the company's total share capital.
On April 19, Wanda Film announced that the company's controlling shareholder, Beijing Wanda Investment Co., Ltd., held 849 million shares of the company, accounting for 38.99% of the company's total share capital.
Due to its own capital needs, Wanda Investment plans to reduce its holdings of the company's shares by no more than 65.381 million shares, accounting for 3% of the company's total share capital, through centralized bidding and block trading.
Among them, if the shareholding is reduced through centralized bidding, the reduction period shall be within 6 months after 15 trading days from the date of disclosure of this announcement, and if the shareholding is reduced by block trading, the reduction period shall be within 6 months after 3 trading days from the date of disclosure of this announcement.
On July 11, Wanda Film announced that the controlling shareholder, Beijing Wanda Investment, intends to transfer 180 million shares of the company's shares held by it to Ms. Lu Lili by way of agreement transfer (accounting for 8.26% of the company's total share capital), at a transfer price of 12.07 yuan per share, with a total transaction consideration of about 2.172 billion yuan.
On July 17, Wanda Film announced again that the controlling shareholder Wanda Investment intends to transfer 177 million shares (accounting for 8.14% of the company's total share capital) to Shenxian Rongzhi, a person acting in concert, at a transfer price of 13.17 yuan per share, and a transfer price of 2.336 billion yuan.
Why does Wang Jianlin frequently sell assets?
According to market analysts, perhaps due to the lack of hope for the short-term listing of Zhuhai Wanda Commercial Management, Wanda had no choice but to sell Wanda's assets to pay for the funds required for the listing VAM agreement.
Looking back at Wang Jianlin's previous crisis, the domestic real estate industry encountered a cold winter in 2017, and the relevant financing policies of banks were tightened. Wanda, which was over-expanded in the early stage, finally suffered from it.
Wanda, which was overly reliant on bank loans, fell in this cold winter, and its debt once exceeded 600 billion. Wang Jianlin, who has been the richest man for many years, fell all the way on the rich list until he fell out of the list, from more than 200 billion yuan in the glory days to more than 30 billion yuan at the lowest time.
Fortunately, Wang Jianlin "broke his arm" in time and packaged and sold Wanda's shares and some projects, buying respite for Wanda. After three years of silence, Wang Jianlin not only paid off Wanda's 600 billion debts, but also fought all the way back to the rich list.
From the richest man of 100 billion yuan to 100 billion debts, and then to return to the rich list, Wang Jianlin can always look for opportunities to turn things around and successfully turn over.
Nowadays, history is always strikingly similar, and it remains to be seen how Wang Jianlin's crisis will be dealt with.
Author | Zhang Xiaolei