Wanda Group continued to sell assets to "save itself", and also gave up its controlling stake in Wanda Film at the end of last year, reducing the shareholding ratio of the previous commercial management listing platform. At the end of March this year, Wanda's new asset-light asset management platform in the commercial management sector - Xinda Alliance received 60 billion yuan of war investment from PAG, CITIC Capital and Middle East Capital, and the current valuation of the platform is about 100 billion yuan.
Recently, Beijing Wanda Plaza Industrial Co., Ltd. (hereinafter referred to as "Beijing Wanda Industrial") has undergone industrial and commercial changes, and the original wholly-owned shareholder Dalian Wanda Commercial Management Group Co., Ltd. (hereinafter referred to as "Dalian Wanda Commercial Management") has withdrawn and is taken over by the real estate fund established by Xinhua Insurance and CICC Capital. In the past two years, the downturn in the real estate industry has exposed most companies to liquidity risks, and Wanda Group has not been spared from having to continue to sell assets to "save itself". According to the data, after the sale of most of the cultural tourism and hotel assets in 2017, the core assets of Wanda Group are mainly business management business and Wanda Film.
Since last year, Wanda has sold 11 self-owned Wanda Plazas and exited the light asset management of 4 Wanda Plazas. At the end of December last year, Wanda sold four Wanda Plazas in Huzhou, Suzhou, Guangzhou and Shanghai in one fell swoop (along with the sale of the assets of the Wanda Reign Hotel in Shanghai to Singapore's Golden Eagle Group) by Zoomlion Fund. In May last year, we took over Shanghai Songjiang Wanda Plaza, Xining Haihu Wanda Plaza and Jiangmen Taishan Wanda Plaza, and in October of the same year, we took over Shanghai Zhoupu Wanda Plaza. Since the beginning of this year, it has successively withdrawn from the light asset management of Foshan Shunde Wanda Plaza, Xiamen Huli Wanda Plaza, Xiamen Lugang Wanda Plaza, and Nanning Chengxi Wanda Plaza.
For the sale or withdrawal of part of the management of Wanda Plaza, according to the data, Wanda Plaza is not standardized, but in continuous innovation and iterative upgrading, from the perspective of Wanda's long-term plan for the transformation of light assets, reducing heavy asset projects will be a continuous process, at the beginning of December last year, Wanda Group also gave up its controlling stake in Wanda Film, a listed company, Tencent's "Confucianism" Becoming the largest shareholder of Wanda Film, from March to July of the same year, Wanda Culture and Wanda Investment, which are controlled by Wang Jianlin, reduced their holdings through block transactions and centralized bidding, and Wang Jianlin is expected to reduce his holdings from Wanda Film by about 7.79 billion yuan in 2023.
Zhang Yichen, Chairman and Chief Executive Officer of CITIC Capital, said, "CITIC Capital has long been bullish on the domestic consumer market and the retail sector. Suntec has a deep competitive advantage and good development prospects. Through this investment, more value will be created for Sundarmeng. ”