【Epoch Times September 29, 2025】Former real estate giant Wanda Group is deeply mired in a debt crisis, with founder Wang Jianlin recently being subject to a high consumption restriction due to a 186 million yuan execution case, sparking social concern. As of September 29, there is no longer any information about Wang Jianlin’s consumption restriction on the China Execution Information Disclosure Network.
Data shows that the accumulated amount executed against Wanda Group has exceeded 7.6 billion yuan, with multiple financial institutions suing for repayment, and the core financial platform’s equity being massively frozen. Wanda is facing an unprecedented crisis of a broken funding chain.
The incident of Wang Jianlin’s high consumption restriction has attracted social attention. The latest information from Tianyancha shows that Dalian Wanda Group Co., Ltd. and its legal representative Wang Jianlin were subject to a high consumption restriction by the Lanzhou Intermediate People’s Court on September 26, involving an execution amount of 186 million yuan.
The high consumption restriction means that the former richest man in China will not be able to fly first class, stay in star-rated hotels in the near term, and his travel and lifestyle will be severely restricted.
On September 28, an informed source from Wanda told mainland media, “Due to economic disputes in Wanda’s subsidiary project companies, in fact, both parties have been negotiating solutions through various means before, and we are also understanding the specific situation, this may be due to information asymmetry at the execution level.”
The case involves Wuhan Chuhehan Street Cultural Tourism Investment Co., Ltd., a subsidiary of Wanda Group (referred to as Wuhan Chuhehan Street). According to Southern Metropolis Daily, some real estate properties of Wuhan Chuhehan Street were auctioned judicially in mid-September, with a starting price of 26.54 million yuan, 20% below the estimate, but ultimately went unsold. Shortly after, Wang Jianlin and other relevant parties were subject to high consumption restrictions.
It is worth noting that this is the second time this year Wanda Group companies have been penalized with a high consumption restriction. In July of this year, Wanda Commercial Management and its legal representative Zhang Chunyuan were also restricted from high consumption due to construction disputes.
Tianyancha risk information shows that there are 10 individual’s information under execution in Wanda Group, with a total executed amount exceeding 7.6 billion yuan. Among them, there have been 9 cases since this year. Other major entities under Wanda also face serious situations: Wanda Commercial Management was executed for 2.959 million yuan, and Wanda Real Estate Group has 423 execution records, with a total execution amount of up to 1.84 billion yuan.
Recently, traditional financial institutions such as banks have become the main force in debt collection. Public information shows that in the two months from August to September 2025, Wanda Group has experienced four major enforcement cases, involving amounts of 2.4 billion yuan, 330 million yuan, 407 million yuan, and 400 million yuan respectively.
From the perspective of the applicants for enforcement, there are several financial institutions involved. For example, in the 330 million yuan enforcement case heard by the Chengdu Financial Court, China Bank’s Chengdu Jinjiang Branch was the applicant; in the 407 million yuan case heard by the Shanghai Financial Court, Shanghai International Trust Co., Ltd. was the plaintiff; and in the 400 million yuan enforcement case by the Shanghai Financial Court, which has officially entered the first stage of enforcement, Shanghai International Trust Co., Ltd. was the applicant.
Beijing Financial Court, Shanghai Financial Court, and Chengdu Financial Court are the only specialized financial judicial institutions in China.
At the same time, the scope of frozen equity of Wanda Group continues to expand. Tianyancha information shows that there are 47 equity freezing records.
The equity of the two core financial platforms of Wanda Group has been massively frozen. In early September, the Beijing Financial Court froze 8.562 billion yuan in equity of Shanghai Wanda Network Financial Service Co., Ltd. under Wanda, and 840 million yuan in equity of Shanghai Wanda Small Loan Co., Ltd., totaling 9.4 billion yuan, with a freezing period of three years.
These two companies were established in 2015 and 2016 respectively, with registered capital of 9.3125 billion yuan and 1.05 billion yuan respectively. The frozen equities this time both exceeded 80% of the registered capital, which is equivalent to Wanda losing actual control of these two major financial platforms.
Shanghai Wanda Network Financial Service Co., Ltd. is a core carrier of Wanda’s financial strategy, with “Wan Huiyun Chuang” covering Wanda Wallet and Wanda Inclusive Finance as its two main product lines. Shanghai Wanda Small Loan Co., Ltd. holds a rare network small loan license, providing consumer credit services through “Wanda Credit” and “Quick-Fast Flower.”
In addition, Beijing Wanda Cultural Industry Group also has an additional 8 billion yuan in frozen equity, adding to the previously frozen 8 billion yuan in March this year, bringing the total frozen equity amount for the company to 16 billion yuan.
Apart from the continuous freezing of its equity, Wanda Group also faces a huge amount of debt. According to data from Sina Finance and The Paper, as of June 2024, Dalian Wanda Commercial Management Group Co., Ltd. (referred to as Wanda Commercial Management) had total liabilities of up to 300 billion yuan, of which interest-bearing debts accounted for 137.561 billion yuan, with annual interest expenses exceeding 13 billion yuan.
Wanda Group, deeply in the quagmire of debt in recent years, has been selling assets to ease financial pressure, with Wang Jianlin initiating a frenzy of “selling off” since 2023. In May of this year, the topic of “Wang Jianlin selling another 48 Wanda Plazas” briefly trended on Weibo. The China State Administration for Market Regulation approved a consortium consisting of Taime, Gaohongfengde, Tencent, JD, Sunshine Life, and other institutions to acquire 48 target companies under Wanda Commercial Management, involving 48 Wanda Plazas in 39 cities nationwide, with a transaction amount exceeding 20 billion yuan.
Statistics show that from 2023 to the present, Wanda has sold over 30 projects, transferring ownership of nearly a hundred Wanda Plazas nationwide. In addition to real estate projects, Wang Jianlin has successively sold off Wanda Hotel Management Company, Kuaiqian Financial equity, Legendary Pictures equity in the United States, and other high-quality assets.
The latest release of the “2025 New Fortune 500 Rich List” shows that the wealth of Wang Jianlin and his son this year is 58.81 billion yuan, a sharp decrease of 82.03 billion yuan from last year’s 140.84 billion yuan, plummeting from 9th to 51st in the rankings, a staggering drop.
Currently, the core assets of Wanda Group mainly include a 40% equity stake in Dalian Xinda Alliance, approximately 200 Wanda Plazas, as well as Wanda Sports, Wanda Baby King, and other business segments. Business information shows that Wanda Group has 24 continuing investment enterprises and controls 15 holding companies.