Recently, Wanda Film, an A-share listed company, issued a suspension announcement, which attracted widespread attention. According to the announcement, Beijing Wanda Investment, the controlling shareholder of Wanda Film, transferred 51% of its equity to Shanghai Ruyi and became a wholly-owned subsidiary of the latter. This means that Wang Jianlin is no longer the controlling shareholder of Wanda Film, but only 1021% of the shares. The shift has sparked speculation about the future of Wanda Films and Wang's financial strain.
Wang Jianlin sold all the shares of Wanda Investment to Shanghai Ruyi and became the controlling shareholder of Wanda Films. Since Wanda Investment has previously given 49% of its equity to Shanghai Ruyi, this equity transfer marks Wang Jianlin's complete withdrawal from the ranks of Wanda Film's shareholders. However, Wang Jianlin did not completely give up his stake in Wanda Films, he still held 1021% of the shares maintained the position of the second largest shareholder.
What kind of motives are hidden behind this equity transfer?As one of the core assets of Wanda Film, why does Wang Jianlin want to cash out his shares, even if he loses his status as a controlling shareholder?The answer may have something to do with Wanda's current situation. The change of the controlling shareholder of Wanda Film to Shanghai Ruyi seems to mean that the cash flow situation of Wanda Group is not optimistic. In fact, Wanda Group's asset-light operation has not helped it escape the test of the cold winter of the real estate market. Wanda Commercial Management's current liabilities exceed 100 billion yuan, while monetary funds are only 13.3 billion yuan, and short-term liabilities are as high as 66.2 billion yuan, facing huge debt repayment pressure. In addition, Wanda also needs to deal with upcoming debts, with one of the contracts requiring Wanda Commercial Management to complete its IPO in 2023, otherwise it will need to buy back the ** in the hands of the war investors and pay up to 8% interest. It is conceivable that how Wanda copes with tens of billions of yuan in cash pressure has become a headache for Wang Jianlin.
In order to solve the liquidity pressure, Wang Jianlin can only endure the pain and cut his love, and keep ** important assets. In recent months, Wanda has repeatedly ** assets related to Wanda films. In addition to the previously mentioned sale of 49% of Wanda Investment's shares to Shanghai Ruxian, Wanda also transferred part of Wanda Film's shares to Lu Lili, a subsidiary of Oriental Fortune, to obtain financial support.
In addition to the above-mentioned assets**, Wanda Group is also actively negotiating with creditors to extend the debt repayment period. Previously, there were rumors that Wanda was talking to a number of syndicates about debt extension, and recently a US dollar bond extension plan was agreed by the vast majority of creditors. These measures have eased Wanda's liquidity pressure to some extent, but at the same time, Wanda Commercial Management still needs to negotiate with strategic investors about the issue of IPO debt repurchase, which will determine whether Wanda can survive the current predicament.
When Wanda was facing difficulties, Wang Sicong, as the chairman of Beijing Huanju Business Management, signed a cooperation agreement with Tai'an Urban Investment Company on the Taishan Cultural Tourism and Fitness Center project. This cooperation has attracted much attention, especially at the signing ceremony, Yang Hongtao, secretary of the Tai'an Municipal Party Committee, personally attended and met with Wang Sicong.
For Wang Sicong to join the ranks of saving Wanda, the outside world has had mixed reactions. Some people think that this is just an attempt by Wang Sicong to seek business opportunities, while more people are concerned and affirmed that he is desperate to save the family business. In any case, Wang Sicong, with his rich background and network of resources, has injected new hope and opportunities into Wanda. The signing of the Taishan Cultural Tourism and Fitness Center project not only proves Wang Sicong's influence in the business field, but also provides Wanda with a possibility to save and change.
Although Wanda Film's equity change of ownership and Wang Jianlin's continuous asset management have aroused concern and concern about Wanda Group, we must not forget that the wealth of Wang Jianlin and his son still exceeds that of the vast majority of people, and their quality of life can still be maintained at a height unimaginable for ordinary people. Although Wanda is facing significant financial pressure, Wang Jianlin and his family's wealth foundation remains solid. Therefore, whether it is Wang Sicong's participation or other rescue measures, we do not need to worry too much. The public's attention and support for this matter is the greatest encouragement for Wanda Group and Wang Jianlin.