Although Wang Jianlin said that through this asset transfer, Wanda's debt ratio will drop significantly, and Wanda will pay off most of its commercial loans within this year. But not many people believe his words, everyone believes that Wanda's problem is far more serious than what Wang Jianlin said, otherwise he would not sell assets at a low price.

Wanda Cultural Tourism City and 73 hotels were only sold for 5.37 billion, which is an obvious cheap sale. Because the Yangcheng Wanda City project has an investment of 000 million, and the mountain city of Wanda City is 500 million. Even if Wanda only invests half of the capital, the value of the project should be around 200 billion yuan. The investment in a hotel can range from 500 million or 600 million yuan to billions of yuan. Wanda Hotels are worth 3.5 billion yuan each based on 500 million yuan each. Assets worth more than 200 billion yuan, 5.3 billion will be sold, if you don't have no choice but to rush to get rid of it, it will never be so.

Some people believe that Wang Jianlin's act of selling assets is correct, and that after this transaction, Wanda will be able to reduce its liabilities, and at the same time, it will also enhance its overall asset-light operation capability and reduce the risk of financial pressure. After the sale of the equity of the project to Poly, Wanda still maintained the right to continue to operate, which also laid the foundation for it to continue to take the road of light assets. What's more important is that Wanda pulled Poly into his chariot, and Zhang Ran had to weigh it if he wanted to continue to fight with Wanda.

Some people also believe that Wanda's sale of Wanda City and the hotel will not alleviate Wanda's crisis. Wanda's debt problem is too serious, and Wanda's debt problem cannot be solved with this 5.3 billion, and Wanda will definitely continue to sell assets to repay debts. Now I don't know how many people are waiting to defeat Wanda to eat meat, even if Zhang Ran doesn't do anything, these people won't let Wanda go....

On the Internet, all kinds of conspiracy theories and all kinds of brain-opening opinions are flying all over the sky.

In his speech at Harvard last year, Wang Jianlin actually admitted that Wanda's overseas investment was transferring assets, and said that there is no right or wrong in asset transfer, only legal and illegal. Wan Da's money was neither stolen nor robbed, nor printed by ourselves, it was entirely earned by our own hard work. We can invest our hard-earned money wherever we like. Now Wang Jianlin should understand that this money is really not something you can invest wherever you like!"

"Wanda completely sold the future, taking Qingdao's Oriental Film Metropolis as an example, Wang Jianlin went to Hollywood many times for this project, just to pursue his own Oriental Hollywood dream. Now it's so easy to sell. Do you say that Wang Jianlin is willing to sell it? The reason is very simple: the pig has been fattened, and it should be killed! Now it is Wan Da, and the next one is probably Alibaba! Ma Yun is too high-profile!

"I estimated a little, just these lands are worth 000 million, and as a result, 5.3 billion yuan was sold, do you believe that it is a purely commercial factor? Combined with the news that Wanda was sold by several major banks, in fact, it is already very clear that Wanda can't get a loan, even if Wanda has very good collateral assets, it still can't get a loan, why? Obviously, someone in Zhang and then greeted the central bank directly. Cash flow is the lifeblood of real estate, and Lao Wang has no choice but to cut his flesh to survive. ”

On the evening of March 29, the official website of Wanda Group announced that Tencent Holdings, as the main sponsor, signed an agreement in Beiping with Cultural Investment Holdings, Poly Group and Wanda Group to acquire Wanda Group's domestic film business, including cinemas and film companies, for 39.8 billion yuan.

Wanda Cinema Line was originally a high-quality asset, and the profit of a single screen was the highest among all theaters in China, and the peak of the century could not be compared. However, after Wanda started a war with Century Peak, Century Summit refused to provide films to Wanda Peak, resulting in Wanda having no high-quality movies to play in the summer file, Chinese New Year file, and Spring Festival file. Other movie theaters are full of people, but Wanda Cinema Line is full of birds. In the past few years, the Wanda film sector has continued to lose money. If it weren't for the sake of fighting for breath, Wang Jianlin would have sold the film business a long time ago. However, now that it is a time of life and death, not a time for vindictiveness, Wang Jianlin decisively sold the film business.

At this time, the cash in Wanda's hand was close to 000 million, and he was able to repay most of the debts. At this time, Wanda began a secret work to buy back the shares of Wanda Commercial Real Estate and delist it from the privatization of Xiangjiang on the grounds that the Xiangjiang market was undervaluing Wanda.

For Wang Jianlin, in addition to delisting from the Xiangjiang market and returning to A-shares, the repurchase of Wanda commercial real estate also has an important purpose, which is to untie Jinding Holdings.

Jinding Holdings held a large number of Wanda shares, resulting in huge losses and was unable to cope with the run on investors, which led to Wang Sichong's arrest. After Wanda commercial real estate repurchased shares, the Wanda shares in the hands of Jinding Holdings were unbundled. Wang Jianlin will fill in more than 10 billion yuan, and the debt problem of Jinding Holdings will be solved, and Wang Sichong will naturally get out.

There are two main ways for the Heung Kong Market to privatise a listed company: a scheme of arrangement and a voluntary offer.

Scheme of Arrangement: The controlling shareholders' meeting requires the company to propose a scheme of arrangement to the shareholders proposing to cancel all the shares held by the minority shareholders. The scheme of arrangement must be executed in accordance with the company law of the place where the company is incorporated and decided by a vote of all shareholders. If the agreement is approved, the agreement will be binding on all shareholders. The shares held by the minority shareholders will be cancelled and the controlling shareholders will therefore hold 00% of the voting rights of the company.

Takeover (similar to a tender offer or simple merger): A controlling shareholder may make a general offer to all shareholders to acquire their shares. If the target company is incorporated in Hong Kong, the controlling shareholder will have the option to elect for compulsory acquisition of the remaining shares when he acquires 90% of the value of the shares that are acceptable at the time of making the offer. If the acquired company is incorporated in a foreign country, the controlling shareholders are required to act in accordance with the relevant local laws.

However, regardless of the method used, and regardless of where you are registered, there are two basic conditions that must be met:

When voting at the privatization shareholders' meeting, more than 75% of the voting rights of the independent shareholders participating in the shareholders' meeting were voted on;

2. When voting at the privatization shareholders' meeting, no more than 0% of the voting rights of independent shareholders participating in the shareholders' meeting are opposed;

Unlike the U.S. stock market, the offeror of a privatized listed company and its persons acting in concert can vote at the privatization general meeting, and they are non-independent shareholders, and only independent shareholders, i.e., shareholders who are independent of the offeror, have the right to vote. In other words, Wanda itself does not have voting rights, and the shareholders who make the acquisition with Wanda do not have voting rights.

In April, Wanda held a general meeting of shareholders to discuss the issue of privatization. At the general meeting of shareholders, Wanda sold out the cash of 49 yuan per ordinary share to acquire all the issued ordinary shares of Wanda Commercial Real Estate that it did not hold.

Now the share price of Wanda commercial real estate is only 9 yuan, and the price of 49 yuan is slightly higher than the 48 yuan when Wanda was listed four months ago, which should be a slight surplus for investors, and this price should be very fair. However, the final vote of the shareholders' meeting was that 2.9% of shareholders voted against, and the plan to privatize Wanda commercial real estate failed.

On April 3, Wanda held another shareholders' meeting and put forward a new privatization proposal. This time, Wanda proposed to acquire all the ordinary shares of Wanda Commercial Real Estate for 5 yuan per ordinary share.

Under normal circumstances, this buyback price would certainly be able to pass. Repurchasing at this price, you can earn at least more than 2 yuan per share. But to Wang's surprise, 23.0 percent of shareholders voted against the privatization proposal.

By this time, Wang Jianlin finally realized that there were Zhang Ran's people or allies among these shareholders who held Wanda shares, otherwise this privatization plan would not have passed. Since Zhang Ran holds a large number of Wanda shares, it may be impossible for Wanda commercial real estate to be privatized and delisted.

By this time, Wang Jianlin completely understood Zhang Ran's purpose, Zhang Ran was forcing himself to sell Wanda shares to save Wang Sichong.

The shareholding structure of Wanda Group is like this, Wang Jianlin holds 00% of the shares of Wanda Group, and the business of Wanda Group is divided into three parts, commercial real estate, film and television sector, and e-commerce sector, in addition, there are a number of overseas companies like A and MGM. Now the film and television sector has been sold, and the e-commerce has not been done, so far Wanda has burned 10 billion, but there is no splash at all, and Wanda e-commerce is not worth anything at all. The real value of Wanda is Wanda commercial real estate and overseas assets worth about 100 billion yuan, of which more than 200 Wanda Plaza of commercial real estate are the core assets of Wanda Plaza.

Now the problem Wang Jianlin is facing is not only the problem of repaying bank debts, but also the big hole of tens of billions of Jinding Holdings. Wang Sichong has been arrested for two months, and if he doesn't act quickly, the state will really sentence Wang Sichong on charges of fraud and money laundering, and then the matter will be troublesome.

Now Wang Jianlin has only two options, either sell overseas assets to repay Wang Sichong's debts, or sell shares of Wanda Commercial Real Estate to repay Wang Sichong's debts. If the overseas assets are sold, then Wanda's overseas road will be completely cut off, and it will be difficult for Wanda's funds to go out in the future. Selling shares is more troublesome, now Wanda Group holds 53% of the shares of Wanda Commercial Real Estate, if the sale of Wanda Commercial Real Estate or Wanda Group's shares, then Wang Jianlin may lose control of Wanda Commercial Real Estate. Once the control of Wanda commercial real estate is lost, then the core of the entire Wanda Group is in the hands of others.

Five days later, someone on the Internet suddenly broke the news that Wang Jianlin was seen at the airport being handcuffed by more than a dozen police officers, and a photo was attached. The photo is blurry, but the handcuffed man in the photo does look like Wang Jianlin.

In recent months, Wanda's official website has been particularly active in refuting rumors, and as long as there are rumors about Wanda, the official website will quickly refute the rumors. But this time, rumors were flying all over the sky, but the official website of Wanda was as quiet as a chicken, and no clarification and explanation announcements were issued. The reporter quickly called Wanda executives, but none of them answered the phone.

By this time, almost everyone knew that something had happened to Wang Jianlin.

A week later, Wang Jianlin, who had lost contact, appeared at the headquarters of Wanda and made a speech on "the future should be more rooted in China". In the next month, Wanda liquidated its overseas assets. There are state-owned enterprises, private enterprises, and many companies with very mysterious origins. It is rumored on the Internet that Wanda's overseas assets were divided by the second generation at a low price.

Just this month, Wang Jianlin acquired Jinding Holdings and paid out investors' funds on a large scale. The problem of Jinding Holdings was completely solved, and Wang Sichong naturally came out smoothly.

A month later, Wanda Group officially announced that China Resources Group, as the main sponsor, joined forces with Sunac China and Suning Electric to invest 7.8 billion yuan in Wanda and acquire 40% of the shares of Wanda Group, so that Wang Jianlin's stake in Wanda Commercial Real Estate has dropped to 28.7% and has become the second largest shareholder. Half a month later, Wang Jianlin announced his resignation as chairman of Wanda Group. Wang Jianlin said that when he is old, it is time to accompany his family and enjoy life.

Seeing Wang Jianlin's words, many people sighed with emotion, Wang Jianlin's era has come to an end!

A good deed person wrote an article mockingly: "A few years ago, Wang Jianlin sang "Nothing" at the annual meeting, but now he has really lost everything!