Wanda GroupThe dilemma faced is well known. Not so long ago,WandaThe announcement of a moratorium on the repayment of $600 million in foreign debts has brought a huge shock to the outside world. Although the company claimed in the announcement that it was 100% confident that it would be able to complete the repayment within 1 year, this decision has already been indicatedWandaIt has been a substantial "thunderstorm" and has to face the problem of huge debts. At the same time, two international rating agencies, Moody's and Fitch, have both downgradedWandaThe rating of the makesWandaFacing more pressure.
In this dilemma,Wanda GroupThe founderWang JianlinIt's also under a lot of pressure. ** ReportedWang JianlinRecently, he has been emaciated, and due to heavy pressure, his weight has been greatly reduced, like a "bamboo pole". In addition, according toVAM Agreements, ifWandaIf the listing cannot be completed within the year, it will have to pay 30 billion yuan in cash andInterest, which is used to buy back the shares in the hands of investors. In the face of such huge payment pressure,Wang JianlinFaced with a huge dilemma, having to prepare for the worst.
Looking back,Wanda GroupThere was once great success and prosperity. At the end of 2014,WandaBusiness management loginHong Kong Stock ExchangeDriven by **, the stock price once reached a high of 78 Hong Kong dollars and became a hot spot in the market. However, with the 2015 A-share andHong Kong stocksof the drastic adjustments,WandaThe share price began to decline, and even fell below the issue price, once to 31A low of HK$1.
This **price** not only letsWang JianlinIt is intolerable and incomprehensible to many investors. After all,WandaThe net profit of business management is much higherWandafilms, but the market capitalization is much lower than the latter. This difference made the limelight at the timeWang JianlinFeeling outraged, decided fromHong Kong stocksDelisting and seeking opportunities to return to A-shares.
However, due to the increasingly strict control of A-share real estate company listingsWanda's regression plan ultimately failed. So, five years later,Wang JianlinDecided to try againHong Kong Stock Exchange, but it has not yet been approved. Thinking back on this experience, perhapsWang JianlinThere is also a little remorse in his heart, and maybe he will use the same words to say: "I knew today, why bother in the first place."
AlthoughWandaThere is a huge dilemma ahead, but I believe that it still has turnarounds and opportunities. First of all,WandaThere are many quality assets in hand, and there is no shortage of buyers for these assets. According to public information,WandaThe business management manages a total of 472 commercial plazas with a construction area of 65.6 million square meters, and has 181 projects in reserve. Since the beginning of this year,WandaIt has been ** 5 in Guangxi and Shanghai and other placesWandasquare to get cash flow. In the case of a sluggish real estate market,WandaSquare is still able to generate significant cash flow for the company, which shows the premium nature of its assets.
Secondly, from the point of view of the financial situation,WandaSince 2020, business management has maintained stable growth in revenue and net profit. According to the data of the prospectus, from 2020 to 2022,WandaThe operating income of business management was 1719.6 billion yuan, 2348.1 billion and 271200 million yuan, and the net profit is 111.2 billion yuan, 351.2 billion and 753.4 billion yuan. In the downturn of the real estate market, it is not easy to maintain such results. Investors are able to giveWandaWait patiently enough long enough and it also shows that they are rightWandaThe ability to operate is full of confidence. In addition,WandaAs the "golden signboard" of China's commercial real estate market, itsBrand influenceand appeal are also important factors to attract investors.
The most important point is,Wanda GroupThe soul of the characterWang JianlinAlways working to salvage the situation. Unlike other property developers who are facing difficulties,Wang JianlinStill forWanda GroupRunning and working. His experience and determination are more than enough to deal with any worst-case scenario. OnlyWang JianlinIt's still there, I believeWandaThere is still a chance. We will continue to pay attentionWanda Groupto see if it can move through the predicament to the light.