There is a lot of news about Wanda recently, the prospectus deadline for Hong Kong stocks is coming again, it should not be on the market this year, and the 30 billion yuan of the VAM agreement needs to be solved, and recently Wanda has made installment payments for a dollar bond that is about to expire, all of which shows that Wanda is very short of money.
However, compared with Evergrande, Wanda still has a lot of high-quality assets that can be sold, including hundreds of Wanda Plazas across the country, and the other more valuable is Wanda Film.
On December 6, Wanda Film announced that Wang Jianlin, the actual controller of the company, intends to transfer 51% of the shares of Beijing Wanda Investment, the controlling shareholder of the company, to Shanghai Ruyi Investment Management, which means that after the transaction is completed, the control of Wanda Film will no longer be in the hands of Wang Jianlin.
According to the report, before the transfer of shares, the actual controller of Wanda Film was still Wang Jianlin. The specific shareholding is that it indirectly holds 10% of the total share capital of Wanda Film through Wanda Investment2%, and Wanda Culture Group and its concerted actors hold a total of 2110%。Wang Jianlin transferred 51% of the equity of Wanda Investment, with a market value of about 266.7 billion yuan.
If the equity transfer is successful, Wang Jianlin will only hold about 10% of Wanda Film's shares through Wanda Culture Group and its concerted actors, and will lose control of Wanda Film. In the future, the largest shareholder of Wanda Film will be Shanghai Ruyi. Shanghai Ruyi will wholly own 100% of the equity of Wanda Investment and indirectly hold 20% of the equity of Wanda Film.
Although after the successful equity transfer, Wanda still holds part of the shares, but is no longer the largest shareholder, and does not rule out the lack of funds in the future to transfer shares again, after all, for Wanda, it is more important to keep its most important asset Wanda Plaza, and if Wanda Commercial Management can successfully list on the Hong Kong stock market, the future situation will be much better.
In fact, the situation in theaters has been greatly improved in the year after the epidemic has been released, with continuous cash flow generation, and if you continue to hold it, it should still be relatively profitable, but now it is more important for Wanda to ensure the normal operation of the company and the smooth repayment of various debts, and according to relevant reports, Wanda has made a lot of money in movies, and it is not like the acquisition of AMC that has lost a lot of money as rumored by the outside world.
However, after the largest shareholder of Wanda Film became Shanghai Ruyi, it is not ruled out that the name of Wanda Cinema will be changed, in fact, the main business of Shanghai Ruyi is film and television production, such as "The Legend of Zhen Huan" and "I am Li Huanying", etc.