Wang Sicong signed a 3.7 billion cultural tourism project, which has nothing to do with Wanda

Mondo Entertainment Updated on 2024-01-19

Wang Sicong's entry into the cultural tourism industry, what is the relationship with Wanda?Netizen: Wang Jianlin's ** person has appeared!

Recently, a group of ** has attracted a lot of attention on the Internet. **In the middle, Wang Sicong, who was dressed in a gray knitted sweater and blue and white sneakers, dressed in casual clothes, was very conspicuous in the crowd of suits and leather shoes. He is meeting with key leaders in Tai'an, Shandong Province, and has signed a cooperation agreement. The content of this agreement surprised many people, and even shocked them. Because this agreement involves the cultural tourism industry, which highly overlaps with the business of Wang Sicong's father Wang Jianlin's Wanda Group.

Wang Sicong, as the "national husband" and the "Discipline Inspection Commission of the entertainment industry", has always been the focus of attention of ** and netizens. His words and deeds, whether in the business circle or the entertainment industry, can cause heated discussions. He has a straightforward personality, dares to scare people, and dares to spend money. His luxury cars, mansions, and gifts are all staggering. His rumored girlfriends are also endless. His business territory is also constantly expanding. He has been involved in many fields such as e-sports, film and television, catering, toys, etc., but he is mainly in the pan-entertainment industry. His Pulse investment is also focused on investing in projects in the fields of Internet, entertainment, and culture. His cup catering is also a light luxury catering brand with young people as the main consumer group. His toy business manager is also a company with toys, animation, games, etc. as its main business.

This time, Wang Sicong chose to cooperate with Tai'an City to build the Taishan Cultural Tourism Fitness Center project. It is a young and micro-vacation destination integrating entertainment and fitness, four-season skiing, sports cool play, youth social networking and parent-child science popularization. It is a project that takes "new scenes, new gameplay, and new trends" as the entry point, and "complex formats, multiple scenes, and in-depth experience" as the means to realize the integrated development of culture, business and tourism through business, culture and tourism. It is a total land area of about 500 acres and a total construction area of about 3550,000 square meters, with a total investment of about 3.7 billion yuan.

This is undoubtedly a big project in the cultural tourism industry. The cultural tourism industry is one of the main businesses of Wang Jianlin's Wanda Group. Wanda Group is the largest commercial real estate developer in China and the largest cultural industry group in China. Wanda Group has vigorously developed a cultural tourism city complex project, namely Wanda Plaza. Wanda Plaza is a large-scale urban complex integrating commerce, hotels, cinemas, theme parks, water parks, and indoor ski resorts. Wanda Plaza, once praised by Wang Jianlin as "China's largest cultural industry project", was also used by Wang Jianlin to call Disney, saying that with Wanda, Shanghai Disneyland will not be profitable within 20 years.

However, Wanda's cultural tourism city complex project has not become a leader in China's cultural industry, as Wang Jianlin had hoped. On the contrary, these projects have encountered various difficulties and challenges. On the one hand, these projects are expensive to build, not low in operating costs, long payback cycles, and not very profitable. On the other hand, there are also many competitors in these projects, in addition to international brands such as Disney, there are also domestic brands such as OCT, Huaqiang Fangte, and Songcheng. The innovation and attractiveness of these programs are not enough to keep consumers coming back. What's more, there have also been problems in the funding chain of these projects, resulting in Wanda Group's high debt ratio, facing pressure from the capital market and scrutiny from regulators.

Under these circumstances, Wang Jianlin had to make a difficult decision, that is, to abandon the cultural tourism city complex project and transform into a cultural tourism service platform. In 2017, Wanda Group sold 13 cultural tourism city complex projects and 76 hotels** to Sunac China and R&F Properties for 63.1 billion yuan**. This is known as the "deal of the century" and is also considered to be the "broken wrist of a strong man" of Wanda Group. Wang Jianlin said that this is the strategic transformation of Wanda Group, from an asset-heavy model to an asset-light model. He said Wanda Group will no longer invest in any land-owned projects, but will focus on providing cultural tourism services, including planning, design, construction, operation, etc.

And Wang Sicong, as Wang Jianlin's only son, did not participate in Wanda Group's cultural tourism business. He has been busy with his own business and is largely uninvolved in Wanda's business. Neither his Pulse investment nor toy business management has been involved in any cultural tourism projects. He doesn't seem to have much interest in the cultural tourism industry, nor does he have any ambitions. He wanted to go his own way and not follow his father's business.

However, this time, Wang Sicong chose to enter the cultural tourism industry and cooperate with Tai'an City to build the Taishan Cultural Tourism and Fitness Center project. What is the relationship between this project and Wanda Group's cultural tourism service platform?What does Wang Sicong's move mean?Netizens have different opinions and comments on this.

Some netizens believe that Wang Sicong's move is his compromise and respect for his father. He finally followed Wang Jianlin's advice and devoted himself to the cultural tourism industry to contribute to Wanda Group. He may be preparing for **, after all, Wang Jianlin is 66 years old, and Wang Sicong is also 33 years old, so it's time to think about future planning.

Some netizens believe that Wang Sicong may be looking for a new direction for his career, after all, his previous pan-entertainment industry has also encountered many difficulties and setbacks, such as the dissolution of e-sports clubs, the suspension of film and television companies, and the loss of catering brands. He may be making changes to his image, after all, some of his previous remarks and behaviors have also caused a lot of controversy and criticism, such as his relationship with Internet celebrity actresses, conflicts with celebrity agents, and tearing up with netizens.

It is also possible that he wants to prove his ability and worth, after all, he has always been labeled as a "rich second generation", and is considered to rely on his father's aura and wealth, without his own achievements and honors.

Of course, some netizens believe that Wang Sicong's move is his support and cooperation with his father. He did not compete with Wanda Group's cultural tourism service platform, but complemented it. It has provided a new customer and partner for Wanda Group's cultural tourism service platform, adding a new revenue to Wanda Group's cultural tourism business**.

Regardless of Wang Sicong's motives and considerations, it is undeniable that this is his first attempt in the cultural tourism industry. This is an important event for Wang Sicong himself, Wanda Group, and the cultural tourism industry, and it is also an interesting topic. We might as well wait and see if Wang Sicong can succeed in the cultural tourism industry and see if the cultural tourism industry can usher in new development under the new situation. What are your thoughts on this?Welcome to leave your views and ideas in the comment area, let's ** and communicate together!

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