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Recently, it was reported that the Wanda Plaza in Gongshu, Hangzhou, owned by Dalian Wanda Commercial Management Group, is going to be sold for 1.48 billion yuan, with an annual rent of 109.38 million yuan. The overall commercial complex has a return rate of more than 8 points, and the price is negotiable. It is worth mentioning that this is the first Wanda Plaza in Hangzhou, with a commercial building area of ​​146,000 square meters.

On August 24, an insider told The Paper (www.thepaper.cn) that the news was true. The insider also said that he had asked Wanda Group about the prices of several Wanda Plazas in Anhui and Henan, and that they were still in the early stages of contact and had not made a clear commitment to acquire the company. The insider did not disclose Wanda's offer, but said that as long as there was a Wanda Plaza he was interested in, he could discuss the matter.

The above-mentioned person said that the key factor in whether to acquire the project is the price. "There are too many assets to be acquired now, and it is difficult to choose. The reason for choosing Wanda's assets is that Wanda's projects in various places are in good locations. It is a large-scale commercial project in third- and fourth-tier cities. The brand effect is also good. The merchants settled in are all affordable to the public. In addition, the supporting Wanda cinema is attractive, so the overall customer flow is good."

Wanda's main commercial real estate project product is the urban complex. This product model is to build a large Wanda Plaza, and then build some office buildings, shops, residences, etc. nearby, and then sell the supporting properties, and use the cash flow generated by the sales to invest in the Wanda Plaza.

In fact, in May 2023, Bloomberg reported that Wanda would sell 20 shopping malls in Shanghai, Jiangsu, Zhejiang and other places. At that time, Dalian Wanda Commercial Management Group Co., Ltd. also clarified this, saying that the company had no plans to directly sell the 20 commercial plazas that had been opened in Jiangsu, Zhejiang and Shanghai.

In December 2023, when the listing deadline of Zhuhai Wanda Commercial Management was approaching and there had been no substantial progress in its listing plan, Wanda Group accelerated its plan to sell assets in order to raise enough funds and ensure sufficient liquidity to cope with share repurchases and compensate investors.

The Paper reported in December 2023 that Zhuhai Wanda Commercial Management revealed in the process of communicating with investors that Wanda Group plans to sell its Wanda Plazas in first- and second-tier cities in exchange for working capital, and is currently negotiating with insurance institutions. Since then, there have been rumors that all Wanda Plazas under Wanda Group are open to negotiation.

Dalian Wanda Commercial Management Group's first quarter 2024 financial report shows that in the first quarter of this year, the company achieved operating income of 13.54 billion yuan, an increase of about 8.02% year-on-year; the total profit was about 3.669 billion yuan, a decrease of about 38.18% year-on-year; the net profit was 2.901 billion yuan, a decrease of 37.39% year-on-year; the net profit attributable to the parent was 2.837 billion yuan, a decrease of 36.76% year-on-year.

As of the end of the first quarter, the company's monetary funds were approximately 12.481 billion yuan, and 13.432 billion yuan at the end of 2023; inventory was approximately 1.122 billion yuan, and 958 million yuan at the end of 2023; total assets were 606.360 billion yuan, and 608.927 billion yuan at the end of 2023. The company's short-term loans were 2.784 billion yuan, and 1.339 billion yuan at the end of 2023; long-term loans were 94.357 billion yuan, and 93.404 billion yuan at the end of 2023; bonds payable were 7.675 billion yuan, and 10.586 billion yuan at the end of 2023; the company's total liabilities were 298.573 billion yuan, and 304.149 billion yuan at the end of 2023.

(For news clues, please contact The Paper’s Financial Channel at [email protected])