Wang Jianlin, who had no money to redeem the equity of Zhuhai Wanda Commercial Management, introduced new investors at the last moment by nearly 5% off the equity, and finally passed the test. In this asset transfer, which has attracted much attention from the capital market, PAG Investment Group, Country Garden and Yonghui Supermarket have made money and lost money.
As of November this year, Zhuhai Wanda Commercial Management has operated and managed a total of 494 large-scale commercial centers, of which 290 are under the name of Dalian Wanda and 204 are operated on behalf of Zhuhai Wanda.
PAG, known as the "man who let Wang Jianlin go", is undoubtedly the one who made the most money in this equity transfer. After PAG and other investors reinvested in Zhuhai Wanda Commercial Management, Wang Jianlin's stake in Zhuhai Wanda Commercial Management shrank to only 40%, while PAG and other institutions held 60% of the shares. In 2021, Wang Jianlin held 78% of Zhuhai Wanda Commercial Management's shares. This means that in order to solve the problem of repurchase money in the last round of VAM agreement, Wang Jianlin discounted his shares by nearly 5%. For the PAG side, spending the same amount of money, but the shares held have increased nearly 1 times, and it is certainly the party that earns the most on the books.
However, Taimeng is currently only rich on paper, and there are still obstacles and a long listing process from investment to realization.
Judging from public information, Country Garden should be one of the few investors who did not make money in the equity transfer of Zhuhai Wanda Commercial Management. Country Garden holds Zhuhai Wanda Commercial Management 179% of the shares, the transfer ** is 306.9 billion yuan. Country Garden's announcement on December 14 said that this ** event is expected to record a comprehensive loss of about 1600 million yuan.
Why did other investors make money, but Country Garden lost money, maybe with Country Garden 143 trillion days of liabilities. Either there is a risk in acquiring the equity of Zhuhai Wanda Commercial Management held by Country Garden, or Country Garden, which is in dire need of cash flow, has no room for bargaining in front of the receiver.
In this way, Fujian Yonghui Supermarket may be one of the few investors who has obtained real money in the equity transfer of Zhuhai Wanda Commercial Management. Yonghui Supermarket originally held Zhuhai Wanda Commercial Management 143% equity, this time the transfer ** is 45300 million yuan. Yonghui Supermarket calculated the accounts, and the company's overall income after the transfer was more than 600 million yuan.
This seemingly ordinary transfer of equity assets is of great significance to Yonghui Supermarket. Yonghui Supermarket announced that the purpose of this asset transaction is to revitalize the company's assets, which is in line with the company's strategy of reducing the scale of investment.
Now Yonghui Supermarket really needs to revitalize its assets. Yonghui Supermarket has lost money for two consecutive years, with its first loss since listing in 2021, with a total loss of 3.9 billion and a loss of 2.7 billion in 2022. According to the provisions of the ** law, if it loses money for three consecutive years, Yonghui Supermarket will be stopped from listing.
The situation of Yonghui Supermarket in 2023 looks to have changed a lot, with a profit of 3700 million. However, in the third quarter, Yonghui Supermarket's profitability was greatly reduced, and the net profit was only 52.29 million yuan. Following this trend, it is difficult to say whether net profit will remain positive in the fourth quarter. With more than 600 million yuan of Zhuhai Wanda Commercial Management's equity, it should not be difficult for Yonghui Supermarket to maintain positive profits.
Yonghui Supermarket has indeed had a hard time in recent years, the impact of e-commerce superimposed on the three-year epidemic test, and at the same time, mixed with the investment in new business formats "super species" and other projects did not meet expectations, and now Yonghui Supermarket's operating pressure is really not easy.