Data expansion:
The successful listing of Zhuhai Wanda Commercial Management Company, a Wanda commercial management company under Wanda Group, means that the strategic transformation of Wanda's light assets has been recognized by the capital market and entered a new stage.
In 20 15, Wang Jianlin first put forward the "light assets" model of Wanda's business management, that is, Wanda does not provide funds for wanda plaza's construction, but is only responsible for exporting brands, assisting in design, construction and operation, and making profits from it.
This coincides with the macro requirements of debt reduction and deleveraging proposed by the regulatory authorities since 2020. From the financial structure, the profit source of Zhuhai Wanda Commercial Management is composed of rent and property management fee. In order to become a light asset income structure, starting from 20 17, Wang Jianlin carried out a series of dismantling of Wanda commercial real estate, the main body that had been delisted before.
From 2065438 to August 2007, Wanda Group injected two light asset company companies, Wanda Hotel Management Company and Wanda Travel Group, into listed companies in Hong Kong, and made clear the strategic position of Wanda Hotel as the only listing platform of Wanda Travel Industry. In 20 18, Wanda Commercial Real Estate was officially renamed Wanda Commercial Management Group Co., Ltd. (hereinafter referred to as "Wanda Commercial Management Group"), and four war investment companies including Tencent, Suning, JD.COM and Sunac were introduced to invest 3.4 billion yuan.
In 20 19, Wanda Commercial Management announced that from 20021,it would no longer develop heavy assets, that is, it would no longer invest in wanda plaza property and fully realize the strategy of light assets. At this point, Wanda Commercial Management Light Assets has basically taken shape.
In March, 20021,Zhuhai Wanda Commercial Management Company, a light asset commercial management company, was established. According to the prospectus, its biggest feature is that it does not own any property, but is only responsible for the operation and management of the 368 wanda plaza which has been opened, the 155 wanda plaza which is under construction and all wanda plaza which will be developed in the future. Straightening out the organizational structure not only enhanced the brand value of Zhuhai Wanda Commercial Management, but also laid a good foundation for listing valuation. Organizational structure and business model are important, but only when Wanda's own brand, investment promotion, development and management departments are strong can we do a good job in the export management of light assets.
The results of Wanda's transformation from commercial management to light assets can be seen from the operating data over the years. The financial statements of Wanda Commercial Management Group in the 20021semi-annual report show that the net profit rate of its main business is 4 1.45%, which is more than 6 percentage points higher than last year. Moreover, since the implementation of the light asset transformation strategy, the net profit rate of Wanda Commercial Management has been on the rise.