On September 28th, the news of “Wang Jianlin and Wanda Group being restricted from high spending” soared to the top of trending searches, sparking attention.
According to data from the Qi Cha Cha app, recently, Dalian Wanda Group Co., Ltd. and its legal representative Wang Jianlin have been restricted from high spending.
The case process shows that previously, Dalian Wanda Group Co., Ltd., Wanda Real Estate Group Co., Ltd., and others were enforced to pay 186 million yuan in a compulsory execution. The executing court was the Lanzhou Intermediate People’s Court in Gansu Province.
Reported by the Xinmin Evening News, an insider from Wanda mentioned, “This is due to economic disputes within Wanda’s subsidiary project companies. In fact, both parties have been negotiating through various means before. We are currently understanding the specific situation, and this may be due to asymmetry of information at the execution level.”
Information released by China’s enforcement information disclosure website recently indicated that Dalian Wanda Group Co., Ltd. has a new entry as an enforcement target with an amount exceeding 400 million yuan, and the executing court is the Beijing Financial Court.
In July of this year, Dalian Wanda Commercial Management Group Co., Ltd. (referred to as “Wanda Management”) and its legal representative, Zhang Chunyuan, were also restricted from high spending.
Wanda Management is facing significant operational and debt pressures. In May, the State Administration for Market Regulation of the Communist Party of China disclosed that Wanda Management had sold a total of 48 Wanda Plazas in 39 cities including Beijing, Guangzhou, Chengdu, Hangzhou, Nanjing, Wuhan, Xiamen, Fuzhou, Quanzhou, and Putian.
As of now, the enforcement amount against Dalian Wanda Group totals approximately 14.293 billion yuan, with a total of 57 frozen equity entries. Among them, there have been 5 frozen equity entries since September, amounting to 14.533 billion yuan. Currently, Wang Jianlin has ownership in 42 companies, with only 10 in operation or relocated, while the rest are either revoked or cancelled.
In the past two years, Dalian Wanda Group and its subsidiaries have faced significant debt pressures. According to the financial data of Dalian Wanda Commercial Management in Q3 of 2024, by the end of September 2024, the non-current liabilities due within one year amounted to approximately 40.084 billion yuan, short-term borrowings about 3.889 billion yuan, long-term borrowings around 106.46 billion yuan, bond payables roughly 6.191 billion yuan, and total current liabilities were about 91.42 billion yuan.
Tianyancha revealed that on August 25th, a private equity fund named “Suzhou Kuan Yu Equity Investment Fund Partnership Enterprise,” consisting of thirteen enterprises including Taimeng, Gaohe Fengde, Tencent, Beijing Panda Commercial Management Co., Ltd., and Yangguang Life Insurance, was formally established with a total investment of 22.429 billion yuan.
According to incomplete statistics, starting from the sale of Wanda Plaza in Songjiang, Shanghai in 2023, Wanda has sold over 30 projects in 2024. As of now this year, at least 85 Wanda Plazas nationwide have changed ownership.
According to AIQicha App, Dalian Wanda Group Co., Ltd. was established in September 1992, with Wang Jianlin as its legal representative and a registered capital of 1 billion RMB. Its business scope includes import and export of goods, technology, and general domestic trade. Shareholder information shows that the company is jointly held by Dalian Huaxing Investment Co., Ltd. and Wang Jianlin. Risk information reveals that the company currently has multiple entries as enforcement targets, with a total executed amount surpassing 5.3 billion yuan, and several company shares it holds have been frozen.