The Shanghai Stock Exchange revealed on April 17 that the Dalian Wanda Commercial Management Group (referred to as Wanda Commercial Management) intends to publicize the issuance of corporate bonds in 2020.Securities.

The total scale of Wanda Commercial Management Company's debt issuance does not exceed 9.8 billion yuan (including 9.8 billion yuan).Corporate debt.This scale covers 150,000 and 150,000 yuan, with a total of 9.806 billion yuan of corporate bonds.

The repayment of the new debt to the new debt has become the choice of Dalian Wanda Group's anxiety. Recently, the company under the Dalian Wanda Group has been exposed to the dilemma. Wang Jianlin, the former richest man in China, faced the crisis again.

Time of crisis

International Wanda, a century -old enterprise.Opening the official website of Dalian Wanda Group, his ambitions were still there.

Dalian Wanda's official website promotes that the Group has become a large multinational corporate group based on modern service industry. It is the world's leading real estate companies, the world's leading film and television companies, the world's leading sports companies, and the world's leading children's industry.Wanda Plaza, Wanda Studios, Wanda Hotel, Wanda Cultural Tourism City, and Wanda Baby King have become well -known Chinese brands.In 2018, corporate assets were 625.7 billion yuan, with revenue of 214.3 billion yuan.

From the perspective of performance data, the above ambitions are still in the highlights of Dalian Wanda. Today, Dalian Wanda seems to be running counter to the goal. Recently, Dalian Wanda's well -known brand has exposed the crisis of almost the entire line, all facing business operations, all facing business operations, all facing operationsDifficulty and debt difficult.

According to the previous industrial layout of Dalian Wanda, its Wanda Commercial Management Group holds and operates commercial properties such as Wanda Plaza; Wanda Cultural Group has the layout of Wanda Film and Television Group, Wanda Sports Group, Wanda Baby Wang Group and Cultural Tourism, Big Health and other industries;Real estate group operates real estate development, develop and build Wanda Plaza, Wanda Hotel, etc.; Wanda Investment Group deploy financial business.

In 2017, Dalian Wanda experienced the Water Lu Visha, and the actions of selling Cultural Tourism City, Wanda Hotel, and overseas assets were staged in turn. They chose to sell themselves to rescue themselves, light asset operations. Wanda Commercial Management and Wanda Culture became the pillar industry of Dalian Wanda.

Dalian Wanda, which has not been fully restored to vitality, has also been severely damaged by the new crown pneumonia. It has almost suffered a crisis since 2020. The core business management group has also been in trouble.Essence

In August 2015, Wanda Sports $ 900 million from PEP from private equity company PEP, acquired 100%equity of the American World Iron Man Company, and took the three -event business of the Iron Man.For the first time, the company has a top international event property rights.

In 2019, Wanda Sports landed on the US stock market. In the third quarter of that year, the loss was exposed to 31.2 million euros. After half a year, Wanda Sports was preparing to sell assets. In March of this year, Wanda Sports will be sold for $ 730 million in core business Iron Man.For advanced publishing companies in the United States, it has shrunk by nearly 20%compared to the previous acquisition price of $ 900 million.

The development of Wanda Hotel, which was listed in Hong Kong on March 31, 2019, which was heavy. The company recorded a loss of HK $ 433 million in 2019, and its net profit was HK $ 150 million in net profit, a year -on -year decrease of 119.61%.

Since the listing of the A -share market in 2015, it has suffered losses for the first time. In 2019, it belonged to the net profit of 4.729 billion yuan. The first quarter of this year reported that Wanda Film continued to lose 550 million to 650 million yuan in the first quarter of 2020 to 650 million yuanEssence

In the former film industry leader, Wanda Film faced the moment, and market rumors said that Wanda Film will use the front line of the cinema as a referee 20%to 30%.Zeng Maojun, president of Wanda Film, said that the news was not true, but when the epidemic was not completely terminated by the early warning, the days of Wanda Film were obviously not good.

Earlier, the media reported that the US AMC Cinema Line debt actually controlled by Dalian Wanda reached $ 4.9 billion, facing the risk of violations of debt contracts and was applying for bankruptcy.On April 14, Dalian Wanda Group urgently issued a statement on its official website saying that the online self -media hype Lsquo; Wanda Holdings US AMC cinema application for bankruptcy RSquo; pure rumors.

But AMC's hitting is an indisputable fact.

According to reports, on March 16, AMC announced closure of 1,000 theaters around the world, of which 630 in the United States.On March 26, AMC issued a statement saying that the company will no longer pay the rent of its theaters and dismisses 600 employees from April, and temporarily suspend the job for 25,000 employees, including CEO to retain cash.Recently, the international rating agency S & P has given the AMC cinema spam rating (CCC-), which further exacerbated the market's decline in AMC.

And Wanda Baby King, who was once highly hoped by Wang Jianlin, was first out of quality on April 10, and 100%of the equity was produced to Minsheng Financial Leasing Co., Ltd.

Wanda commercial management, as the main source of cash flow in Dalian Wanda, is even worse. Public data shows that as of the end of the third quarter of 2019, Wanda's business management liabilities totaling 333.282 billion yuan, with interest debts of 190.958 billion yuan, asset -liability ratio of 55.08%EssenceThis also means that in the next two years, Wanda Commercial Management will need to repay the total interest -bearing debt of nearly 100 billion yuan.

Affected by the epidemic, Dalian Wanda Group announced that it would exempt all merchants in 323 Wanda Plaza nationwide from January 25th to February 29th.Wanda Commercial Management is free of rent for merchants for a month, which means that the cost that needs to be borne will exceed 4 billion yuan.In addition, there are no cash flow in the mall operation in the first quarter, and the debt burden of Wanda Commercial Management will be intensified.

On February 16, 2020, Wanda Commercial Management was reported and stated that it did not meet the conditions of the listing of the A -share market and the suspected crime of Dong Gaojian, which directly affected the road of IPO financing of Wanda Commercial Management.Stop the censorship.

At the same time, Wanda Commercial Management was reported that the core executives were lost in large quantities.According to statistics, since this year, Liang Fengjian, Vice President of Wanda Business Management, Huang Duzhou, Assistant Assistant to Senior President and General Manager of Planning Center, Wang Rui, Assistant to Chief President and General Manager of China Merchants Center, Chen Yihang, President and General Manager of South China Operation Center, Shen JiayingBoth have left.

Dalian Wanda Group's pillar business collective lightning, its company's performance is large -scale, high debt, tight cash flow, and a sharp shrinkage of market value. Today, Dalian Wanda is getting farther and farther from century -old enterprises.

At the Dalian Wanda Group Annual Meeting at the beginning of this year, his chairman Wang Jianlin has not disclosed the group's performance for the first time in 10 years. What is the current real situation of Dalian Wanda Group? China News Weekly has given by Dalian Wanda and was only informed that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public that it was not the public.The company has no obligation to disclose financial data.

Encounter Waterloo again?

In December 2017, a Waterloo article entitled Wang Jianlin's Waterloo stating that Dalian Wanda was suspected of being involved in the Malaysian Malaysian City project with state -owned enterprises, so the company was in a debt crisis.

In this regard, Dalian Wanda made a serious statement saying that the above articles made malicious slander and middle injuries to Dalian Wanda Group and Wang Jianlin himself. Many places seriously violated the facts. Dalian Wanda said that he would resolutely adopt legal means to maintain the reputation of the corporate.However, there was no following the incident, and in 2017, Dalian Wanda encountered double kill in the capital market. At that time, Wang Jianlin, who had a debt of more than 400 billion yuan, to prevent the capital chain from breaking and pushed the transformation of Dalian Wanda light assets.Billion assets.

Wang Jianlin first cut the meat to sell 77 hotel projects from Wanda Commercial Real Estate to R & F Real Estate for 19.9 billion, and then sold 91%of the 13 -cultural hotel projects to Sunac at the price of nearly 44 billion yuan, with a total amount of 637. The total amount was 637.5 billion yuan, known as the Century Trading.

After clearing up a number of assets in a row, Wang Jianlin's assets have been achieved, and Dalian Wanda's interest rate ratio has been reduced to a safe level. Since the outbreak of the new crown pneumonia, Dalian Wanda's main business has almost collectively frustrated, and he has to raise his debt again.

It is reported that AMC in the US market has successfully received $ 500 million in financing; in mid -April, Wanda Commercial Management for the first time in three years of domestic debt issued and issued 9.8 billion yuan of corporate bonds (varieties fundraising).The registered scale is 5 billion yuan, the interest rate is 4.89%, and the term is 3 years.

Dalian Wanda's high -quality business Wanda Baby King conducted equity pledge financing; on the evening of April 21, Wanda Film announced that it intended to issue 623.5 million new shares, with raising funds of no more than 4.35 billion yuan.

According to industry analysis, Dalian Wanda ’s main business of light asset transformation has been emptied again under the impact of the epidemic, and Dalian Wanda is facing a test of life and death.

Bai Wenxi, vice chairman of the Chinese Enterprise Capital Alliance, commented that many industrial experience and participation in Dalian Wanda, and the new crown pneumonia's epidemic has large extent the suspension of sports, movies, hotels and other formats.What happened.

According to reports, Dalian Wanda, who had encountered a bottleneck again, intends to press the chips to the real estate business that has long been separated.

At the Dalian Wanda internal monthly meeting in March 2019, Lu Zhengtao, Wanda Real Estate Group, announced that it plans to return to 100 billion yuan by the Wanda Real Estate business by 2021.According to media statistics, since the beginning of this year, Dalian Wanda has won 7 land in Taizhou, Tianjin, Hubei Huangshi, Guangdong Heyuan, and Neijiang, Sichuan, and cost nearly 3.6 billion yuan, of which many projects include residential plots.

Since this year, almost all business in Dalian Wanda has lost money, and wants to return to the real estate business to make money. Can the old real estate bank regain Dalian Wanda's former glory?According to analysis, the impact of the epidemic of housing does not stir -fry. It is estimated that real estate will also be the worst year this year. Where does Dalian Wanda go?