Recently, the National Enterprise Credit Publicity System showed that Dalian Xindameng Commercial Management Co., Ltd. had changed its industrial and commercial information. The company's registered capital increased from 16.21 billion yuan to 40.52 billion yuan; the total invest

Recently, the National Enterprise Credit Publicity System showed that Dalian Xindameng Commercial Management Co., Ltd. had changed its industrial and commercial information. The company's registered capital increased from 16.21 billion yuan to 40.52 billion yuan; the total investment changed to 51.3 billion yuan.

According to iQicha, Xiao Guangrui, chairman of Dalian Wanda Commercial Management Group, will no longer serve as the legal representative and chairman of Xinda Alliance, and Huang Dewei, PAG Investment Partner and President of PAG China, will take over. In addition, Xinda Alliance has added ten new investors. In addition to the previously disclosed PAG, CITIC, and Abu Dhabi Investment Authority, Suzhou State-owned Assets Fund and Morningside Capital have also entered the game. Xindameng's executive information has also changed. The company's board of directors has expanded to 13 members, of which 5 are from Wanda and the other 8 represent investors.

According to the latest industrial and commercial information, the shareholding ratios of each party have not been disclosed.

On March 30 this year, Dalian Wanda Commercial Management Group and five investment institutions - PAG Investment Group (pag), CITIC Capital, funds under Ares Management, platinum peony and Muba, a wholly-owned subsidiary of the Abu Dhabi Investment Authority Dala Investment Company officially signed an investment agreement in Dalian. Five investment institutions jointly invested approximately 60 billion yuan in New Dameng, holding a total of 60% of the shares in New Dameng, and Dalian Wanda Commercial Management Group held 40%.

As early as 2021, 22 investors including PAG Investment Group (pag), Country Garden , CITIC Capital, Ant, Tencent, and the Zheng Yutong family had invested in Zhuhai Wanda Commercial Management (the main entity of Wanda’s light asset business to be listed in Hong Kong). It is a commercial plaza operation and management platform that currently manages 496 large commercial plazas) with an investment of approximately 38 billion yuan, and investors have the right to redeem upon maturity. The gambling agreement stipulates that Zhuhai Wanda Commercial Management will be listed in 2023 at the latest, otherwise it will need to buy back shares from these investors and pay additional compensation.

However, as the prospectus submitted by Zhuhai Wanda Commercial Management on the Hong Kong Stock Exchange at the end of last year became invalid again, individual shareholders lost patience, and Wanda suddenly faced a "gap" of tens of billions of yuan in repurchase funds. Against this background, on December 12, 2023, Dalian Wanda Commercial Management Group and PAG Investment Group announced the signing of an investment framework agreement to establish a new DAG company.

This change in industrial and commercial information means that Wanda’s crisis has been temporarily resolved, and Wanda’s financial pressure is expected to be alleviated. As of mid-2024, Wanda Commercial Management has cash on hand of 11.58 billion yuan. Excluding equity repurchase payments, interest-bearing liabilities due within one year are close to 30 billion yuan.

According to incomplete statistics from a reporter from Nancai Express, Wanda has sold more than 20 Wanda Plazas since 2023. In early July this year alone, Wanda had sold three Wanda Plazas.

In June 2024, Wang Jianlin and Wang Sicong, father and son, returned to the top ten richest people with a total net worth of 140.8 billion yuan, which once attracted widespread attention.

According to the latest list of the New Fortune 500, Wang Jianlin and Wang Sicong, father and son, own 46% of the shares of Dalian Wanda Commercial Management Group, returning to the top ten with assets of 140.8 billion yuan.

Source: China Business News