At the end of 2023, after the 38 billion VAM crisis is resolved, Wang Jianlin will continue to sell assets. A few days ago, # Wang Jianlin sold 10 Wanda Plazas # rushed to the hot search, causing widespread heated discussions.
According to the company's information, Xiamen Dianqian Wanda Plaza Commercial Management Co., Ltd. changed its equity on January 16, and the company's shareholders were changed from Zhuhai Wanda Commercial Management Group Co., Ltd. to Xiamen Jinshengyang Real Estate Co., Ltd., and the legal representative was changed from Gao Qian to Jinyi.
Xiamen Dianqian Wanda Plaza Commercial Management Co., Ltd. is responsible for the management and operation of Xiamen Huli Wanda Plaza, which opened on September 2, 2011 and is the third generation of Wanda Group's urban complex.
Prior to this, there have been shareholder changes in a number of Wanda Plazas across the country. According to statistics, since 2023, Wang Jianlin has transferred 10 Wanda Plazas.
On January 8, 2024, Foshan Shunde Wanda Plaza Commercial Management Co., Ltd. underwent a change in equity, and after the change, Foshan Yueshang Maojing Enterprise Management Co., Ltd. will hold 100% of the shares.
In December 2023, Suzhou Taicang Wanda Plaza, Huzhou Wanda Plaza, Guangzhou Luogang Wanda Plaza and Shanghai Jinshan Wanda Plaza were also intensively transferred, and the receivers were all subsidiaries of China United Fund.
In addition to Wanda Plaza, Wanda Hotel, Wanda Films and other assets have also been sold one after another recently. On December 12, 2023, Wanda Film announced that the company indirectly holds Wanda Culture Group and its wholly-owned subsidiary Beijing Hengrun, and the actual controller Wang Jianlin signed the "Equity Transfer Agreement" with Shanghai Ruyi Investment Management Co., Ltd., intending to transfer 51% of the equity of Wanda Investment, the controlling shareholder of the company, to Ruyi Investment, with a total transfer price of 2.155 billion yuan.
On December 22, 2023, Shanghai Wanda Hotel Investment Co., Ltd., a subsidiary of Dalian Wanda Commercial Management, underwent a change of equity, and the shareholder of the company changed from Dalian Wanda Commercial Management to Beijing Yinglang Commercial Management Co., Ltd.
In recent years, listing and gambling have been like a mountain, which has been lying in front of Wanda. On December 12, 2023, PAG and Dalian Wanda Commercial Management Group jointly announced the signing of a new investment agreement. According to the new agreement, Dalian Wanda Commercial Management holds 40% of the shares, making it the single largest shareholder, and several existing and new investor shareholders such as PAG participate in the investment, holding a total of 60% of the shares. So far, Wang Jianlin has exchanged equity for "breathing time", and the "gambling" crisis of listing has been resolved.
But after the crisis, why is Wang Jianlin still "selling assets"?
The root cause of Wanda's "selling, selling, selling" is that it has overweight assets and a declining ability to create cash flow. In recent years, Wanda has been actively promoting the asset-light strategy, reducing its own operational risks by transferring some assets or projects, and at the same time obtaining more funds and resources to invest in more potential markets or projects, and resolving its own phased liquidity pressure.
Since 2015, Wanda Commercial Management has been managing independent third-party commercial plazas in an asset-light model. In 2023, Wanda will sell a number of projects such as Shanghai Songjiang Wanda Plaza, Xining Haihu Wanda Plaza, Jiangmen Taishan Wanda Plaza, and Shanghai Wanda Reign Hotel, and the follow-up operation rights will still be retained by Wanda Commercial Management.
As of the end of 2022, 184 of the commercial plazas managed by Zhuhai Wanda Commercial Management were owned by independent third parties, accounting for 39% of the total number of commercial plazas under management.
If nothing else, Wang Jianlin will continue to optimize and move in 2024, increase the company's cash flow through "selling, selling, selling", and build up strength for the impact of the IPO.