Text | Hearing the sound of the green tree
Edit | Hearing the sound of the green tree
Sources: All of the information stated in this article is based on reliable sources, and is detailed at the end of the article
Preface
As early as 2013, Wang Jianlin became the richest man in China with 86 billion assets.
Wang Jianlin's bold words are still in his ears, but in a blink of an eye, Wanda has changed, the equity has changed, the shareholder has changed hands, Wang Jianlin has completely withdrawn, and the family business he worked hard to build was not passed on to Wang Sicong, but it was taken by Tencent, what is going on?
Hard work
"It is difficult to fight the country, and it is even more difficult to defend the country", this sentence is the most appropriate summary of Wang Jianlin's current life.
Wang Jianlin earned tens of billions of family assets, it can be said that he started from scratch, he became a soldier at the age of 15, worked hard in the army for more than ten years, and was promoted to a cadre, but he was not satisfied, and took the initiative to choose to change jobs.
He came to the Xigang District Government of Dalian as the deputy director of the office, which was not low, and it was a proper iron rice bowl at that time, but Wang Jianlin didn't work for long, and he came up with the idea of going to the sea to do business.
It was 1988, Wang Jianlin entered the real estate industry, because of his accurate grasp of the market, the built houses were particularly popular, more than 1,000 units were sold out quickly, and Wang Jianlin also earned the first pot of gold in his life.
Wang Jianlin felt that it was feasible to make money by buying land and building houses, so in the 90s, he changed the company's name to Wanda Real Estate and continued to work in the real estate field.
The prosperity of the real estate economy has made Wang Jianlin earn a lot of money, if one bet is luck, two bets are strength.
After 2000, Wang Jianlin was no longer satisfied with housing development, so he entered commercial and entertainment real estate, including the familiar Wanda Plaza, as well as office buildings, hotels, etc.
This successful transformation has directly brought Wanda's economic volume to a new level, and on this basis, Wanda Pictures, Wanda Entertainment and other branch businesses have continued to grow and develop.
With the support of these daily industries, Wang Jianlin became the richest man in China for the first time in 2013, and when he was the richest, Wang Jianlin's net worth soared to 217.2 billion yuan, breaking into the top ten of the world's richest list.
But people are not good for a thousand days, and flowers are not red for a hundred days, and now look at Wang Jianlin, the family business that has been worked hard has changed hands, isn't it difficult to fight the country, and it is even more difficult to defend the country?
Wang Jianlin is good, why did he come to the step of selling shares? As a "pick-up man", where is the sacredness of Chinese Confucianism?
Sell assets
Since last year, Wanda has begun to sell its shares, and in July 2023, Shanghai Ruyi, a subsidiary of China Ruyi, bought 49% of the equity of "Wanda Investment" in the hands of Wanda Culture Group for 2.262 billion yuan.
In December, there was news that the remaining 51% of the "Wanda Investment" stake would also be resold to Ruyi Investment Company, but it was not until this year that the news came that was confirmed.
In January this year, the 29.8% equity of Wanda Investment held by Beijing Hengrun has been transferred to Ruyi Investment after the equity change; on the 15th of this month, the 1.2% of Wanda Investment held by Wang Jianlin, and the remaining 20% of Wanda Investment equity in the hands of Wanda Culture Group, have been replaced by holders, that is, Ruyi Investment.
At present, Wanda Investment has officially changed hands, and there is no half-dime relationship with Wang Jianlin, and Wanda's new owner has become a Chinese Confucian.
And Wang Jianlin has come to the present step by step, and it is rumored in the industry that it is because of "serious lack of cash flow", once the capital chain is broken, it is not a sale of assets, and it is likely to be bankrupt.
The reason why it will enter such a predicament has a lot to do with Wanda's original layout, thinking that at the beginning, the "Wanda system" is located in many industries, mainly in industry, and Wang Jianlin has also been the richest man in China many times with Wanda.
But in recent years, the business of the real industry has not been easy, and by 2023, Wang Jianlin will only have 47 billion assets left, and the general environment has caused his wealth to shrink seriously, and the projects that originally invested heavily are also facing difficulties in recovering funds.
Coupled with the bursting of the bubble in the real estate industry, the collapse of Evergrande is a bloody lesson, however, some people believe that a large part of Wang Jianlin's sale of Wanda is due to "gambling failure".
VAM is a very common capital game in the field of financial investment, and everyone is happy if they win, and if they lose, they are defeated. Why did Tencent become the final winner?
Chinese Confucianism
In 2021, when the real industry was relatively sluggish, Zhuhai Wanda was established and received investment from 22 companies, with a capital scale of 38 billion yuan.
Wang Jianlin signed a VAM agreement with Zhuhai Wanda, promising that the net profit within three years will not be less than 51.9, 74.3 and 9.64 billion yuan, and at the same time, in 2023, Zhuhai Wanda will be listed.
In the first three years of profits, Wang Jianlin did it, but unfortunately, Zhuhai Wanda's listing failed, which means that he lost the bet, and the price of losing is to repay the investment of 30 billion yuan.
Wang Jianlin was forced to be helpless, so he had to embark on the road of selling assets, and China Confucianism was also at this time, eating Wanda's capital gap, so he planned to become Wanda's "pick-up man".
China Ruyi is also a listed company, and its main business area is entertainment film and television investment, and it has participated in the box office blockbusters in recent years, such as "Detective Chinatown", "Hello Li Huanying", "Disappearing Her", "Article 20" and "Bear Infested".
In the TV drama industry, China Confucianism has produced "No War in Beiping", "Langya Bang", "The Legend of Miyue" and "Old Tavern", etc., which are popular masterpieces.
In terms of film and television investors, China Confucianism has a unique vision, and it is also steady, accurate and ruthless in the acquisition of Wanda Investment.
The founder of China Ruyi is called Ke Liming, but its major shareholder, which is also the investor, is Tencent, that is, Wanda Investment has become Tencent's "asset" in disguise.
Since then, every penny earned by Wanda Investment will flow into Ruyi's pocket, and as an investor of Ruyi, Tencent has become the biggest winner.
Some people say that Wang Jianlin's move is tantamount to a strong man's broken wrist, as an entrepreneur, he did not choose to leave the mess, but sold his assets to transfer from it, such courage and courage are also very admirable.
Resources
The Paper, 2024-04-20, a report on "After China Ruyi Takes Over Wanda Films, Half of the Shares Pledged".
Jiemian News, 2023-07-29, on "What is the origin of China's Confucianism in buying a 49% stake in Wanda Investment at one time?".
Red Star News, 2024-03-30, a report on "Wanda Won 60 Billion Yuan in New War Investment: Compromise After the Failure of the Gambling, Wang Jianlin Lost Absolute Control and Has Sold 15 Wanda Plazas".