"The first dream, the last stubborn."

Source: Huanju Business

In the photo, Wang Sicong wore a gray sweater black casual pants and a sports sneakers. Among the people in the suit and leather, the image was particularly prominent.

The people who are used to the impression of the "National Husband" and "Entertainment Circle Discipline Inspection Commission" may be difficult to imagine that he appears in government news news and talks with local government leadership talks.Wang Sicong, who disappeared in the public's vision for a long time, "returned" in this form.

On the morning of November 27, Wang Sicong appeared in Tai'an, Shandong. As chairman of Beijing Huanju Business Management Co., Ltd., he attended the signing event of a cultural tourism project in Tai'an.Judging from the multiple photos posted by "Beijing Huanju Business Management Co., Ltd.", at the scene of the event, Wang Sicong not only exchanged with Yang Hongtao, secretary of the Tai'an Municipal Party Committee and the director of the Standing Committee of the Municipal People's Congress, but also visited the relevant projects on the spot.

To put it bluntly, it is Taian's commissioned Wang Sicong to be responsible for the follow -up operation of a cultural tourism project.After the news broke, it quickly boarded the hot search.Some netizens speculated that Wang Sicong "wants to return to Wanda to inherit the family property and take over."Wang Sicong's unique dress that day also attracted the attention of many netizens. "It is still that boy", "Perhaps wearing leisure and seeking leaders is his last stubbornness."

You know, business management and operations like this are the strengths of Wanda. When Wanda's transformation, Wang Jianlin made it clear that Wanda will "de -real estate" and transform light assets after the reorganization, and become a business management company.This time, Wang Sicong took over the operation of the Taishan Cultural Tourism Fitness Center, and it was also the first time that he had revealed that he entered the cultural tourism industry.Is this really preparing for "succession"?

In the past few years when his son's investment career has been frustrated, the father of nearly 70 years still "break through the level" at the front line of Wanda, and came to the most anxious moment at the end of the year. Due to the twists and turns of listing, the fate is about to be divided into the wild. Whether Wang Jianlin can survive the battle is not yet known.Wang Sicong, who has been clearly stated that he has set up a business management company earlier this year to regain his old dream of his father's cultural tourism.

Appears in Shandong, enter the Cultural Tourism

There is no nightclub, beer, and Internet celebrities in the gossip lens. Wang Sicong's image of "serious work" once again refreshed netizens' cognition.

"We really don't understand the situation." After hearing this signing news, an official of Wanda Group responded to Chinese entrepreneurs.Another relevant person from Wanda speculated that the this signing of the contract has nothing to do with Wanda, nor is it considered a "succession" action, but Wang Sicong's own career plan. "He originally had an investment company." A insider said.

However, Wang Sicong's operation of entering cultural tourism really confused him. "I really don't know what they think?"

According to the news on November 28th, on the morning of November 27, the signing ceremony of the Taishan Cultural Tourism Fitness Center project was held.Yang Hongtao, Secretary of the Tai'an Municipal Party Committee and director of the Standing Committee of the Municipal People's Congress, attended the event and delivered a speech. Wang Sicong, chairman of Beijing Huanju Business Management Co., Ltd. attended the event.At the ceremony, Tai'an City Development Investment Co., Ltd. and Beijing Huanju Business Management Co., Ltd. signed a project cooperation agreement.

On the evening of November 27, the WeChat public account "Huanju Business Co., Ltd." also released the news of "Beijing Huanju Business Co., Ltd. and the Tai'an Municipal Government held a signing ceremony on the Cultural Tourism Fitness Center Project", and announced multiple sheetsWang Sicong's close -up photos.The public account was registered on November 13, 2023, and it was certified as "Huanju Business Management Co., Ltd." on the 16th, and the IP belonging place was Liaoning.

This signing message is also the first message released by the public account.Tianyancha APP shows that Beijing Huanju Business Management Co., Ltd. (hereinafter referred to as: Beijing Huan Ju) was established on July 20, 2023. It is located in Beijing and is a company that is mainly engaged in the business service industry.Wang Sicong is chairman, president Li Xin, and executive president Ding Yi.The company's registered capital is 10 million yuan.

In terms of penetration, there are two shareholders of "Beijing Huanju": Hangzhou Cup Cup Commercial Management Co., Ltd. and Jiuzheng Real Estate Development (Beijing) Co., Ltd., holding the shareholding ratio of 51%and 49%, respectively.Wang Sicong is the actual controller of Hangzhou Cup, with a total shareholding ratio of 31.5%.

It is understood that before the signing ceremony, Yang Hongtao and Wang Sicong and Wang Sicong had a discussion and exchange.Wang Sicong said that Beijing Huanju Business Management Co., Ltd. will take the "new scene, new gameplay, new trend" as the starting point, and take the "composite format, multiple scenarios, in -depth experience" as a means to go all out to go all out to the Taishan Cultural Travel Fitness Center projectBuild a youth force and micro -leave destinations that are integrated into entertainment and fitness, four seasons skiing, sports cool play, youth social and parent -child science, to achieve business in Chengwen, cultural promoting travelers, and promoting the integration and development of cultural and business travel.Essence

"(read through the article) is really familiar with words and taste, just like Wanda, but the person who says these words is Wang Sicong." A company who has been in contact with Wanda for many years said.From the perspective of business scope, "Beijing Huanju" and Wang Sicong's "pan -entertainment empire" previously built were different, but it was more associated with Wanda's cultural tourism format that has been working on the layout.

According to the "Huanju Business Management Co., Ltd." official micro -introduction, Beijing Huanju Business Management Co., Ltd. is the only domestic trendy entertainment and scene operation company that focuses on immersive experience.At present, the size of the assets has more than 6 billion yuan, more than 70 layout projects, and more than 100 offline order stores; the format covers cultural tourism, business, experiential consumption and night entertainment.

According to official news, this "Beijing Huanju" is mainly participating in the transformation of the Taishan Cultural Tourism Fitness Center Stadium project.According to previous reports, the Taishan Cultural Tourism Fitness Center project was listed as one of the 10 practical things that the people were run by the people.The project is planned to complete the investment of 650 million yuan in 2020, and so far, it has completed about 350 million yuan.

The "successor" is not clear, and the career continues

From the perspective of public information, the signing of the Tai'an project this time is the first time that Wang Sicong has been involved in the physical cultural tourism project.

Cultural tourism was the old dream of Wang Jianlin.In 2017, in order to repay the loan, Wanda helplessly "broken arm" to sell the core project of the Wanda Cultural Tourism sector to Sunac and R & F.The main business of "Beijing Huanju" -commercial management and operation is the core sign of Wanda commercial management.After turning around, the son extended from the concept of pan -entertainment to the entity, and it seemed to have embarked on his father's "old road".

Wanda is the premier business management group in China, and Wang Sicong is the only child of Wang Jianlin.With the continuous growth of Wang Jianlin's age of Wang Jianlin, whether Wang Sicong has attracted much attention.In the past 10 years, Wang Jianlin has responded to related topics many times in public.He said, "I have talked with Sicong several times, but he is not interested in the job that succeeds me. He believes that it is too difficult to manage more than 100,000 people."

Unlike the traditional successive model of "Zi Cheng's Father's Industry", Wang Sicong rejected his father's arrangement and started to start his own business with 500 million yuan.Since the closure of the Panda TV in 2019, there have been reports that "Wang Sicong will return to Wanda and start to take over peace."However, at the end of August last year, Wang Sicong stepped down as a director of Dalian Wanda Group Co., Ltd., and thus rushed to Weibo hot search.

In the "second generation" group of Chinese entrepreneurs, Wang Sicong has always been a free representative.

In 1988, Wang Sicong was born.In the same year, Wang Jianlin founded Wanda Group.Because of the busy company business, Wang Jianlin did not have much time to take care of Wang Sicong.At the age of 2, Wang Sicong began to go to kindergarten, and was then sent to Singapore to study in primary schools and Winliness School in the United Kingdom.At the university stage, Wang Sicong was admitted to the Department of Philosophy of the University of London, UK with a full IELTS score.

In terms of academic stage, Wang Sicong is obviously not much related to the word "sister -in -law".In 2009, Wang Sicong returned to China after graduating from college.He rejected his father's planned succession arrangements, and Wang Jianlin eventually compromised.He gave Wang Sicong 500 million yuan to start the funds. From this, Wang Sicong opened a different life.

Entrepreneur Wang Sicong's most famous business identity is the chairman of Beijing Pusi Investment Co., Ltd.This company was founded in 2009 and was controlled by Wang Sicong himself 100%.The official website shows that Pusi Capital has a total of more than $ 1 billion in assets, and has invested nearly 80 projects, including Netfish Internet Cafe, 360, Hero Mutual Entertainment, Le Muso Games, Yunyou Holdings, Fushou Garden, Xiaoguo Culture, etc.

Wang Sicong visits related projects on the spot.Source: Huanju Business

It is worth noting that "Beijing Huanju" is a member of the "Banana Plan".The banana plan is Shanghai Banana Plan Culture Development Co., Ltd. It was established in June 2015. Its subsidiaries include banana entertainment, banana music, banana game media, banana film and television, banana sports, etc.The "Banana Plan" aims to create a pan -entertainment industry chain, which is an important manifestation of Wang Sicong's personal interests and commercial ambitions in the past 8 years.

After the shopping mall, Wang Sicong's confidence in entrepreneurial has not diminished.In the results of Panda Mutual Entertainment Investment Disputes announced in December 2019, Pusz Capital said that it must not be due to the failure of the entrepreneurial entrepreneurship of Panda Mutual Entertainment's single project.Pusi Capital and actual controller will be honest and trustworthy and continue to start a business.It revealed that Pus Capital's investment loss was 2 billion yuan.

In the past 3 years, Wang Sicong in the mall was silent.Although he is 35 years old this year, he has not showed a clear intention.However, with the vision of entrepreneurship, he obviously has to do a lot. On the day after the news of the signing of the Tai'an Cultural Tourism project, Beijing Huanju Guanwei released the second message, the title: Beijing Huanju Business Management Co., Ltd. -5.0 immersive experience business leaderEssence

The article states that "Different from traditional business management companies, Huanju introduced its shares or holding brands into a commercial complex in the form of a main store, as an unreachable engine that is a complex. At present, commercial projects that have been landed are:Hangzhou Icon Center Trend Night Entertainment Complex, Queen's Park Guo Chao Industry Incubation Center, Meihetang Michelin Catering Center, etc. "

In the text, I finally said that Gong Ju wish to work with everyone to support the "backbone" of future business development.

Wang Jianlin is sad?

The same "second generation", the new hope Liu and chairman Liu Chang once talked about the envy of Wang Sicong in an interview, saying that when he started his business in his early years, he could only borrow little money from his father Liu Yonghao.Liu Chang has become a model of succession today.After the first taste of Wang Sicong, Wang Sicong, who was happy to enter the entrepreneurial tour, marched to the physical cultural tour, and behind the action was more secure and cautious.

At this moment, his father, 69 -year -old Wang Jianlin still traveled in the rain, like the situation of the elderly and the sea.In the past three years, the IPO of the Hong Kong stocks of Zhuhai Wanda Merchants Management has been dragged and the market uncertainty has increased steadily; the gambling agreement signed with investors will also expire at the end of the year.Whether the crisis can be resolved smoothly will determine the final fate of Wang Jianlin and Wanda.

According to the surging, after the short -term hope of the IPO of Zhuhai Wanda's commercial authority, Wang Jianlin and Zhuhai Wanda tried to extend the payment of 30 billion yuan of equity repurchase involved in the market, but the preliminary plan did not agree to the investor's consent.Zhuhai Wanda Commercial Management hopes to repay the equity repurchase of equity within 4 years, and at the same time provide some equity of Zhuhai Wanda Commercial Management as a mortgage.However, investors did not accept this proposal.

The news said that Zhuhai Wanda Commercial Management also emphasized that if the regulatory authorities can be approved and the market conditions are favorable, Zhuhai Wanda Commercial Management may still be listed before the end of this year.Wanda Group responded to the outside world that the listing of Zhuhai Wanda Business Management is still advancing.

In the past three years, Zhuhai Wanda Commercial Management submitted a prospectus to the Hong Kong Stock Exchange four times. The last time was on June 28 this year.Not long before, on June 2nd, the International Department of the CSRC issued supplementary materials for the issuance of overseas issuance and listing for the registration of the Zhuhai Wanda Merchants, requiring to respond to six issues, involving dividends, internal control, the existence of the lease rate, the risk of debt repayment of the controlling shareholders, and the risk of the controlling shareholder's debt repayment and the risk of the controlling shareholder's debt repayment and the risk of the controlling shareholder's debt repayment.The use of funds raised on the market.

In fact, in 2021, Zhuhai Wanda Commercial Management IPO has received the "small road" of the Securities Regulatory Commission. The overseas IPO approval was accepted by the China Securities Regulatory Commission and entered the substantive stage of the IPO of Hong Kong.To be successfully listed in Hong Kong stocks, Zhuhai Wanda Commercial Management also needs to obtain the "big road".Until now, the CSRC has not officially officially officially issued the approval of the H -shares issuance of Zhuhai Wanda Commercial Management.

"The current liquidity and valuation of the Hong Kong stock market are low, and even if it is listed, it is a huge loss to investors." A securities market person said.Zhuhai Wanda Commercial Management Investment Team "Star Get", including Ant, Tencent, Country Garden, Country Garden Service, CITIC Capital, CITIC Securities, Huaping Investment, China Merchants Capital, Hezhong Life Insurance, Shanghai Guosheng Capital, Zheng Yutong family, etc.Its investor.

The continuous downturn in the operating environment, the expiration of the company's debt, and the hindering IPO are superimposed. Wang Jianlin is not good for this year.Public news shows that so far this year, Wanda has put some of its Wanda Plaza, financial licenses, Yingfang Sports, and film companies equity.

In terms of cash flow and debt, Wanda is still under pressure.As of the end of the first half of this year, Wanda's business management cash and cash equivalent balance was about 14.7 billion yuan, a significant decrease of 53%year -on -year.In addition, the merging caliber interest liabilities were about 141.3 billion yuan, of which about 29.3 billion yuan in interest liabilities due within one year.Due to the impact of Wanda Commercial Management's open market re -financing channels that have not recovered and the progress of the listing of subsidiaries Zhuhai Wanda is not as expected, bond prices have further fluctuated.This means that the difficulty of re -financing Wanda's public market has increased.

Recently, it has been revealed that Zhuhai Wanda Commercial Management intends to postpone the longest listing in Hong Kong to 2026, and is currently discussing with investors.This is more than two years later than the rumors of "Zhuhai Wanda Commercial Management or Choosing IPO in 2024" exposed at the end of October.In this regard, Wanda has no statement at present.If the news is true, Wanda Commercial Management will get longer opportunities for momentum.

At present, how to persuade investors will be Wang Jianlin's most headache.

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