WandaMovies, the once trump card asset, are about to face the fate of transfer. Wang Jianlinand its shareholder plans willWandaInvest 51%.Transfer of sharesGive Shanghai Ruyi Investment Management *** This will lead toWandaThe actual controller of the movie has changed. This is not the caseWang JianlinSell for the first timeWandaFilm equity, July this year,Wang JianlinIt has been divided into three times**WandaThe equity of the film, in exchange for nearly 7 billion cash, was used to alleviate itWandaDebts that are about to mature. However, this time the transfer has caused widespread speculation and questioning as this yearMarché du FilmThe recovery is obvious, especially the performance of the summer file, which exceeded the pre-epidemic level. So, people can't help but ask,Wang JianlinWhy do you cut the meat so decisively?
Lack of money, reallyWang JianlinThe essential reason for cutting meat. In 2017,WandaFacing a huge debt crisis, more than 400 billion debts are pressedWang JianlinIn addition, regulators have also stepped in to limit the company's access to financing. In the capital markets,Wandaencountered a "double kill of stocks and bonds", and the pressure increased sharply. At that time, it was still domesticThe richest manofWang JianlinSuddenly fell into a crisis because of "lack of money". At this critical juncture,Wang JianlinDecisively willWandaThe core business of ——WandaCultural Tourism City andWandaThe hotel was packaged to Sunac and R&F for a transaction of nearly 70 billion yuan. These two businesses were considered at the timeWang JianlinThe best quality assets in hand, however,Wang JianlinOnly a much lower value than expected was obtained. Someone calculates that it isWang JianlinAt least 600 were lost in this tradeSmall goals。But,Wang JianlinWith the cash proceeds from this transaction, successfully madeWandaBreak free from the crisis. At a critical moment, there is a military backgroundWang JianlinIt shows his ability to be decisive. with many other roomsReal estateThe developer bosses are in stark contrastWang JianlinIt is one of the few entrepreneurs who are willing to take the lead in core assets and actively save themselves.
In this regard, I have to mention after 2017Wang JianlinRightAsset-lightThe pursuit of strategy. This strategy allowsWang JianlinInReal estateWhen the industry was down, it avoided the impact of the industry. However, dodging a crisis does not mean staying away from danger. WandaStill withReal estateThe industry is highly correlated, and the overall economic environment is coolingWandaHow can you be alone?Moreover, in recent yearsWandaAlso involved someReal estateprojects, which have recently been reported to be shut down and unpaid wages. So, thoughWang JianlinDidn't make any big mistakes after 2017, but the environment has long changed, and this time putWandaThe movie was put on the shelf, and it was a forced choice for him.
WhileWang Jianlin's "extreme thinness" has also become one of the focuses of heated discussions. Recently displayed,Wang JianlinSuddenly thin as a "bamboo pole", it is clear that he is under great pressure. First of all,WandaBusiness management inHong Kong Stock ExchangeThe issue of listing has not been approved. According toWang Jianlinwith investorsVAM Agreements, ifWandaBusiness management can't be there this yearHong Kong Stock ExchangeListing,Wang JianlinIt will be forced to buy back the shares in the hands of investors and pay interest, which is worth more than 30 billion yuan, and the total amount of interest will exceed 40 billion yuan. In addition, last month,WandaIt is also seeking a moratorium on a $600 million bond due in January. AlthoughWandaIn the announcement, it said that it would guarantee 100% payment and obtain the consent of creditors to extend, but this incident undoubtedly affected the market againWandaconfidence. In the face of a financing crunch,WandaThe listing is very important, it isWang JianlinOne of the best financing options I can think of right now. So ifWandaUnable to go public as desiredWang JianlinThere will be a double pressure of huge bills and financing difficulties. Under such pressure,Wang JianlinIt's not surprising that it's emaciated.
A lot of people may be confused, 2017Wang JianlinHaven't you already survived a crisis?Why did he find himself in crisis just six years later?Could it beWang JianlinIs the money just unspent?Actually, it's not.
Wang JianlinThe current predicament is not entirely his own problem. First of all, since 2017,WandaMainly takenAsset-lightStrategy, avoidedReal estateThe impact of the industry. However, avoiding a crisis does not mean that danger can always be avoided. WandaStill withReal estateThe industry is highly correlated, and in the context of the overall economic environment, it is coolerWandaHow can you be alone?Again,Wang JianlinThis cut of meat was not entirely voluntary, and the environment was already different from 2017.
In addition, due toWang JianlinThe focus is onWandaofAsset-lightStrategically, he did not return to the level of wealth he had in the past. Aside from the cash from the cutting of meat, his assets have not increased significantly. As a result, he still faces a lack of money.
In summary,Wang JianlinFalling into a crisis and lacking money again is not entirely his own problem, but is affected by the external environment and the limitations of his own asset allocation. In order to cope with the crisis, he had to cut the meat again, this time choosing to transferWandaEquity in the film to get the required cash. It was also a decision he made to save himself, and although cutting his flesh could cost him an important asset, it seemed to be the best option he could have in the current situation.