The movie "The Annual Meeting Can't Be Stopped" became popular, but Wanda's annual meeting "stopped".
According to Wanda's official website, Wanda Group's 2023 annual meeting was recently held at the Wanda Vista Hotel in Beijing, which is connected to the headquarters.
Compared with the prosperous Wanda annual meeting in previous years, this annual meeting is low-key to the extreme, except for a message released on Wanda's official website as usual, there is no other ** report.
Wanda's annual meeting** used to be a "hit" on the Internet, and in 2016, Wang Jianlin sang "Nothing" at the annual meeting**, which has received 1 billion hits, and Lao Wang was also nicknamed "the god of song delayed by wealth" by netizens.
However, this year, Lao Wang is not in the mood to hold an annual meeting, let alone sing at last year's meeting.
In 2023, Wang Jianlin will be busy "selling, selling, selling" most of the time, and in order to tide over the difficulties in exchange for cash flow, Lao Wang will put high-quality assets such as Wanda Movies, hotels, and Wanda Plaza on the shelves.
So has Wang Jianlin's difficulties passed, and will Wanda have any other difficulties in 2024?
2023 is bound to be an unforgettable year for Wang Jianlin and Wanda.
According to the VAM agreement between Wang Jianlin and the investor, Wanda Commercial Management must complete its listing in Hong Kong in 2023, otherwise it will spend 38 billion yuan to buy back the investor's equity, and also pay an annualized interest rate of 8%, with a total of more than 40 billion yuan in cash.
Therefore, Wanda must go public in 2023, otherwise the consequences will be unimaginable. But the Hong Kong Stock Exchange once again rejected Wanda's IPO application.
Just when the world thought that Wang Jianlin might have a hard time getting through this time, Wanda re-signed the agreement with the largest investor, the PAG Group, and the biggest thunderbolt on Wang's head was demolished.
Some people think that Lao Wang's luck is so good that it bursts, but in fact, it has nothing to do with luck, why?
PAG's boss Shan Weijian began to go long in China more than 10 years ago, and Wang Jianlin holds a large number of high-quality assets such as Wanda Plaza, so there is no need for Shan Weijian to force Lao Wang to buy back.
The so-called staying in the green mountains is not afraid of no firewood, and Shan Weijian, who is an investor, must understand the meaning of "long-termism" better.
But after the demolition of this big thunder, Wang Jianlin still did not stop the pace of ** assets.
After the big thunder of the bet was removed, Wang Jianlin began to continue the sale before he had time to celebrate.
On December 12 last year, Wanda Films changed hands, and the investors were 215.5 billion yuan ** won the actual control of Wanda Film.
At the end of December, the equity of Shanghai Wanda Hotel Investment *** was changed, and the receiver was Singapore Golden Eagle Group.
From December 25th to 30th, Suzhou Taicang Wanda Plaza, Huzhou Wanda Plaza, Guangzhou Luogang Wanda Plaza and Shanghai Jinshan Wanda Plaza were intensively transferred. After the beginning of the year, Wanda Plaza in front of Xiamen Palace was also Lao Wang**, according to statistics, Wang Jianlin**'s Wanda Plaza has reached 10.
Why is Wang Jianlin so intensively ** assets? The most direct reason is the lack of money.
According to the financial report, as of the end of June 2023, Wanda's interest-bearing liabilities were 14128.3 billion yuan, of which 292 are interest-bearing liabilities due within one year5.7 billion yuan.
In addition, Wanda still has 4.8 billion yuan of domestic debt and 400 million US dollars of overseas debt to repay in 2024.
However, Wang Jianlin, as a business tycoon, ** assets are not simply to repay debts, in my opinion, Wang's actions also have the meaning of contraction and transformation. Why?
Since Wang Jianlin "survived with a broken arm" in 2017, Wanda has shifted to an asset-light operation model, simply put, from "landlord" to "intermediary".
With rich management experience and a strong operation team, Wanda is a veritable first brother in the domestic business management industry, and there is almost no resistance to transforming into an asset-light company.
However, as of November 2023, only 204 of the 494 large commercial centers managed by Wanda are asset-light, and 290 are still asset-heavy.
Therefore, Lao Wang** Wanda Plaza can be regarded as an attempt to continue to transform to an asset-light model.
As the Year of the Dragon in the lunar calendar gets closer and closer, many people are beginning to look forward to the New Year, so will Wang Jianlin and Wanda's 2024 be good?
I think Wanda's 2024 will definitely be stronger than 2023.
First of all, in the new agreement between Wanda and PAG, the "time-limited listing" clause has been removed, and Wang Jianlin can no longer regard listing as the main goal, and the corresponding corporate strategy will also be adjusted.
In addition, PAG will attract new investors to enter, and will also give corresponding support to Lao Wang in terms of funds, after all, everyone is now really sitting on the same big boat, and this ship must not sink.
In addition, Wang Jianlin's cash flow through ** assets is more abundant than in 2023, and there is more room for tossing and turning than last year.
Coupled with the gradual easing of the external environment, the US dollar interest rate cut is basically certain, and the problem of global capital liquidity will be alleviated, and Wanda will most likely be better than last year in 2024.
But Wanda clearly has a long way to go if it wants to get back to the top.
The property market has not fundamentally changed, and it is still unclear how long this cycle will last.
At present, Wanda Real Estate carries 15 pieces of information on the person subject to execution, and the total amount of execution exceeds 2200 million yuan.
However, I believe that Wang Jianlin, who is about to enter his 70s, will definitely have the ability to lead Wanda to rebuild its glory, and we look forward to that day as soon as possible. Kunpeng Project