Wang Jianlin, ChinaThe richest manWandaThe helmsman of the group is once again in trouble. Recently,WandaCommunicated with offshore bondholders to resolve the maturity of a US$600 million bond through an extension proposal. WandaIt was proposed to extend the bond for about one year to ensure that it would continue to lend to domestic banks. The bondholders agreed to the scheme and the debt was resolved. Although that's what it isWandaThe most pressing issue of the moment, howeverWang JianlinFacing even more trouble, a bill of more than 30 billion is about to become due. This debt of more than 30 billion originates fromWang JianlinforWandaPayments made by the investors introduced. Today, these investors are demanding:WandaComplete the listing in 2023, if it does not meet the target,WandaIt is necessary to redeem the more than 30 billion and pay the corresponding interest. However,WandaThe listing application has still not been approved by the Hong Kong Stock Exchange, and the reason why the Hong Kong Stock Exchange has been delayed in approving it is because it is rightWandaof business conditions are not satisfied. In recent years,WandaExpanding the real estate business, but unfortunately, at the same time as the market situation shifts,WandaReal estate is also facing many problems, such as unpaid wages and work stoppages. In addition,WandaBusiness management itself is also facing cash flow problems. According toWandaFinancial report, as of the end of the first half of 2023,WandaThe balance of cash and equivalents of commercial management was 1469.2 billion yuan, a year-on-year decrease of 5344%。Debt-wise,WandaCommercially managedInterest-bearing liabilitiesUp to 14128.3 billion yuan, of which it is due within one yearInterest-bearing liabilitiesfor 2925.7 billion yuan. It can be seen,WandaThe cash of the business management can no longer be coveredShort-term debt。If approved by the Hong Kong Stock ExchangeWandaListing will pass on huge risks to investors, which is irresponsible. So,WandaThe main reason for the inability to go public is due to its own business problems.
Wang JianlinIt's not the first time we've faced a dilemma. 6 years ago in 2017,WandaInvestigated by the China Securities Regulatory Commission, bonds were sold off, stock prices were **, and huge debts were pressedWang Jianlinhead. In this darkest hour,Wang JianlinDecisive**WandaIts cultural tourism and hotel businesses free up funds to repay debts. The deal in 2017 got itR&FwithSunacBut now, in the environment of the continued downturn in the real estate industry, these two real estate companies have no time to take care of others. Compared to 2017, nowWang JianlinThe dilemma is almost the same, but without the support of the "white knights". To get by,Wang JianlinJuly of this year will beWandaThe film shares were divided into three times**, in exchange for nearly 7 billion in cash. In addition, he willWandaAssets such as squares, financial licenses and Infront Sports were put on the shelves. For half a year,Wang JianlinHe had been searching for money, but the pressure had made him visibly lose a lot of weight and look haggard. According to incomplete statistics, since the beginning of this yearWandaIt has been ** 5 in Guangxi, Shanghai and other placesWandaSquare. It all seems to be the "reincarnation" of 6 years ago. However,SunacwithR&FAsWang JianlinThe "white knights" are no longer able to help. Faced with almost the same dilemma, who can becomeWang JianlinThe new "white knight"?It's interesting to see.
Wang JianlinAs ChinaThe richest man, whose troubled story has attracted a lot of attention and thought. For him, this is not the first time he has faced challenges, he has been in a difficult situation 6 years ago, through the best assets, to "survive". Today, however, the situation seems to be even more dire, as the scale of the debt he faces is enormous and the solution is more difficult. Wang JianlinThe problems faced are not only personal financial problems, but alsoWandaThe Group's Challenges. In the context of the escalating regulatory policies of the real estate industry,WandaThe Group's business situation has become difficult. Wang JianlinThe current strategy is to constantly seek out assets and capital to cope with short-term debt stress, but it remains to be seen whether it will be able to solve the problem on a sustained basis. For investors and creditors, they also face risks and challenges. WandaThe group is a well-known enterprise in China, and its crisis can not only affectdomestic economy, which may also create systemic risks. Regardless of the end result, this story gives us a lot of room for thought, such as risk management for business decisions, long-term planning for business development, and so on. HopefullyWang JianlinTo be able to find a solution to the problem during this difficult time and to rebuild itWandaGroup, make better results.