Recently, Wanda Film, an A-share listed company, issued a suspension announcement due to a change in control. According to the announcement, 51% of the shares of Beijing Wanda Investment, the controlling shareholder of Wanda Film, will be transferred to Shanghai Ruyi. As early as July this year, Shanghai Ruyi has spent 226.2 billion yuan purchased a 49% stake in Wanda Investment, and this equity transfer means that Wang Jianlin completely withdrew from Wanda Investment. However, Wang Jianlin has not completely left the ranks of Wanda Film's shareholders, and he still holds 1021% of the shares became the second largest shareholder.
The change of control of Wanda Films has attracted widespread attention. In this transaction, Shanghai Ruyi acquired a controlling stake in Wanda Investment and became the new head of Wanda Film. This represents a major change for Wanda Films, and for Wang Jianlin, it also means that he has lost direct control of Wanda Films, but he is still the second largest shareholder and retains a certain right to speak.
As one of the core assets of Wanda Group, Wanda Film has always attracted much attention. However, Wang Jianlin's sale of all of Wanda's shares to Shanghai Ruyi has sparked widespread speculation and discussion. Why did Wang Jianlin want to cash out his shares, and even gave up his position as a controlling shareholder?The possible answer has to do with Wanda's current situation. With the adjustment of the real estate market, Wanda Group has inevitably fallen into the dilemma of insufficient cash flow and debt pressure. Taking Wanda Commercial Management as an example, its existing onshore bonds and offshore US dollar bonds have all brought huge debt pressure. In addition, Wang Jianlin is also facing a "VAM agreement" signed with a strategic investor, and if Wanda Commercial Management cannot complete the IPO in 2023, it will need to buy back the ** in the hands of the strategic investor and pay high interest. The current situation of time is urgent, so Wang Jianlin has to take measures, including cutting off the most important assets.
In the context of Wanda Group's strategic transformation and increased financial pressure, Wang Jianlin gave all the shares of Wanda Investment to Shanghai Ruyi, which caused widespread speculation. Although he lost his status as a controlling shareholder, he still holds 10 of Wanda Films through the Shen County Rongzhi Xingye Management Consulting Center21% shares, maintaining a certain interest relationship. This equity transfer can be regarded as a means taken by Wang Jianlin to provide liquidity for Wanda Group. With the adjustment of the real estate market and the increase in debt pressure, Wanda Group is facing huge challenges. In this context, Wang Jianlin had to cut his assets to alleviate cash flow pressure and debt risks.
Wanda Film's controlling shareholder, Beijing Wanda Investment***51% of the shares, was transferred to Shanghai Ruyi, and Wang Jianlin completely withdrew from Wanda Investment, but still held 10 of Wanda Film21% stake.
Wanda Film issued a suspension announcement, the control was changed, 51% of the equity of Beijing Wanda Investment was transferred to Shanghai Ruyi, and Wang Jianlin withdrew from Wanda Investment.
Shanghai Ruyi to 22The 6.2 billion yuan ** bought 49% of Wanda Investment's shares, and now buys the remaining 51%, making Wanda Investment its wholly-owned subsidiary.
, Wang Jianlin holds 10 of Wanda Films21% stake.
Although Wang Jianlin withdrew from Wanda Investment, he still holds Wanda Film 1021% of the shares, becoming the second largest shareholder of the company.
Faced with insufficient cash flow and debt crisis, Wang Jianlin cut off his assets.
The total amount of outstanding onshore bonds of Wanda Commercial Management was 690.2 billion yuan, and the total amount of overseas US dollar bonds was 1.3 billion US dollars. The short-term debt is 66.2 billion yuan, and the monetary fund is only 13.3 billion yuan, and the cash flow pressure is very huge.
According to rumors, Wang Jianlin signed an investment agreement with a repurchase clause with a strategic investor, and if Wanda Commercial Management cannot complete the IPO in 2023, it needs to buy back the strategic investor's ** and pay 8% interest. This means that Wanda will face tens of billions of yuan in cash repayment pressure.
In order to solve the group's operating and debt repayment needs, Wang Jianlin had to ** important assets. In recent months, Wanda has repeatedly linked Wanda film-related assets. In addition to the previously mentioned sale of 49% of the equity to Shanghai Ruxian, he also transferred shares to Lu Lili, the proprietress of Oriental Wealth, all to understand the urgent need.
Behind the change in Wanda Film's equity is the result of Wanda Group's increased financial pressure and strategic transformation. Due to the adjustment of the real estate market and the increase in debt, Wanda Group is in trouble, and Wang Jianlin needs to provide liquidity for the group. As a result, he chose to cut his key assets, including a stake in Wanda Investment, to alleviate cash flow pressure and debt risk.
Wang Sicong, the top rich second generation, recently signed a cooperation agreement with Tai'an Urban Investment Company on the Taishan Cultural Tourism and Fitness Center project as the chairman of Beijing Huanju Business Management. Judging from his meeting with the secretary of the Tai'an Municipal Party Committee, it can be seen that Tai'an attaches great importance to the project, and it also makes it rare for us to see Wang Sicong on a formal occasion. This has also made people pay close attention to Wanda's future and Wang Sicong's joining.
Overall, the change of control of Wanda Film means that Wanda Group is facing severe financial pressure and debt problems, and Wang Jianlin alleviates these problems by ** important assets. Although Wang Jianlin withdrew from Wanda's investment, he still retains a certain stake in Wanda Films, indicating that he still has a certain interest and involvement in the company's future. For Wanda Film, the new head will take on the important task of leading the company's development, hoping to lead the company out of the predicament and achieve long-term stable development.