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Wanda Commercial Management’s listing has taken another ＂two steps＂： pay the 1.575 billion as scheduled, and thaw 5.1 billion shares

Produced | Sohu Real Estate & Focus Finance

Author | Wang Zehong

Editing | Wu Ya

The decisive battle for IPO is imminent, but Wanda Commercial Management has encountered various storms, whether it is the freezing of equity or the hidden acquisition of several Wanda plazas, all of which are related to its debt pressure.

But public debt is a bottom line, especially for Wanda Commercial Management, which is in the final sprint of listing. On July 11, the capital markets reported that for the "20 Dalian Wanda MTN003" 1.575 billion yuan ticket due on July 10, Dalian Wanda Commercial Management has remitted the full amount of funds for redemption to the Shanghai Clearing Exchange.

In addition to the winning ticket due in July, Wanda Commercial Management has nearly 4.30 billion yuan of bonds, which will be repaid in January 2024. The news also pointed out that Wanda Commercial Management plans to repay the public debt through equity funds and refinancing channels.

In this regard, Wanda Group responded to Sohu Finance: "1.575 billion yuan ticket due payment news is true."

An industry professional told Sohu Finance: "Wanda has some liquidity pressure, but obviously this pressure comes from the expectation of listing and the real estate sector. The real estate sector and the business management sector are independent legal persons. As the main body of listing, there is no liquidity pressure in the short term, so it is natural to repay the debt on time. If there is an overdue, it shows that even the liquidity of the business management sector has deteriorated sharply, which will naturally endanger the listing process of the business management sector."

After the news of the scheduled payment came out, several US dollar bonds of Wanda rose on the same day. Among them, the purchase price of US dollar bonds due in 2024 rose by about 1.5 cents to around 61.7 cents per dollar, and Wanda’s domestic bonds "200,000 to 01" rose slightly by 0.6%.

Behind the equity thaw: Zhuhai business management became a mystery for 6 days, Vanke exceeded the freeze and unblocked

Meanwhile, another piece of good news also arrived.

On July 11, according to the information disclosed by the national enterprise credit information publicity system, all the shares held by Dalian Wanda Commercial Management in Zhuhai Wanda Commercial Management have been thawed, with a total amount of about 5.072 billion yuan.

The previous day, Qichacha showed that Dalian Wanda Commercial Management held all the shares of Zhuhai Wanda Commercial Management (holding 70.16%) were frozen, the amount of frozen shares was about 5.072 billion, the freezing period from July 4, 2023 to July 3, 2026, the enforcement court is Zhanjiang City Intermediate People’s Court of Guangdong Province.

But unlike in the past, the frozen equity was thawed in just 6 days, according to the national enterprise credit information publicity system, Zhuhai Wanda Commercial Management’s frozen 5.072 billion yuan equity has been lifted on July 10.

Such a large amount of freezing and thawing happened in the "lightning and flint", what happened behind the scenes? A relevant person from Wanda Group told Sohu Finance: "We don’t know the specific reason."

A number of Wanda Group companies have been frozen recently, including Dalian Wanda Group’s stakes in Dalian Wanda Commercial Management, Shanghai Wanda Microfinance, and Wanda Properties’ stakes in Wanda Properties.

In particular, Wanda and Vanke due to the Changchun Film and Television City project of more than 1 billion yuan of financial disputes, resulting in Dalian Wanda Group holding Dalian Wanda Commercial Management 1.979 billion equity were frozen, causing Wanda’s strong dissatisfaction, and said that the freeze Wanda Commercial Management 1.90 billion equity, significantly more than the amount of financial disputes between the two sides, is through legal channels to appeal, confident to safeguard the legitimate rights and interests of Wanda Group.

Compared with the "5.072 billion equity freezing incident", the ins and outs behind this financial dispute freezing incident are clear, but because of the excess freezing, Liu Jipeng, the legal adviser of the State-owned Assets Supervision and Administration Commission of the State Council and the dean of the Capital Finance Research Institute of China University of Political Science and Law, was bombarded, and recently recorded a video program to explain.

He believes that the Shanghai Hongkou Court 1.40 billion the disputed assets exceeded the standard by 94 times and seized Wanda 128.70 billion assets, accounting for almost one-third of Wanda’s entire net assets. Therefore, when the guarded person and the qualified intermediary provide strong evidence to prove that the value of the seized assets 120 billion, the legal department should unblock it in time and give Wanda Group sufficient relief rights.

Liu Jipeng also revealed that the Shanghai Hongkou court realized that the 94 times exceeding the standard required by Vanke was unreasonable and serious, and had given 830 million to the seized 1.98 billion equity, but the remaining 1.15 billion equity was still 53 times the disputed assets of 1.38 billion yuan, and the value 74.80 billion. As long as the equity is still in legal proceedings, Wanda Commercial Management listing and issuance of similar funds cannot be carried out.

Behind the 6-day lifting of the 5.072 billion yuan equity, whether it is also sealed due to financial disputes, it is still a fog.

"Borrowing new and returning old" suspension: reduce holdings of Wanda Film to cash out 736 million

But behind this series of events, all point to Wanda Group’s debt pressure. As of the end of June 2023, Wanda Commercial Management’s domestic open market bond stock size was 12.341 billion yuan, and the overseas bond stock size was about 1.80 billion US dollars.

In addition, according to the gambling terms of Zhuhai Wanda Commercial Management, if Zhuhai Wanda Commercial Management fails to go public by the end of 2023, Wanda Commercial Management is obliged to buy back 30 billion yuan of equity from investors.

According to the capital markets, Wanda Commercial Management plans to repay the public debt through equity funds and refinancing channels.

For open market debt, borrowing new to repay the old is one of the ways to solve the gap. However, Dalian Wanda Commercial Management applied to the Shanghai Stock Exchange to issue a 6 billion small public offering, which was suspended by the Securities Supervision Commission on June 28. It was Wanda Commercial Management that actively applied to the Securities Supervision Commission to suspend the issuance on June 9.

According to Sohu Finance, the funds used for the 6 billion bonds were originally planned to be used to repay four domestic bonds due in October 2024 2 billion yuan "200,000 up to 02", 2.50 billion yuan "200,000 up to 03", 1.50 billion yuan due in December 2024 "200,000 up to 04", and 3.80 billion yuan due in September 2025 "200,000 up to 01".

But now this plan has been temporarily unable to carry out, in early July, Wanda Group told investors that the Securities Supervision Commission suspended the registration process of 6 billion corporate bonds, mainly because Zhuhai Wanda Commercial Management’s application for listing in Hong Kong is still in the review process, and the bond application review will be resumed after the progress of the Hong Kong listing.

The core of solving the debt crux finally points to the listing. According to the previous agreement with the 1.30 billion US dollar syndicate to participate in the listing of the loan bank on November 30, Wanda has less than 5 months.

In addition, Wanda’s recent financing moves have been frequent. In early June, everyone’s life insurance loomed to take over Shanghai Songjiang Wanda Plaza, Xining Haihu Wanda Plaza, and Jiangmen Taishan Wanda Plaza. Recently, Wanda Investment has successively reduced its holdings of Wanda Film to cash in.

On the evening of July 10, Wanda Film announced that Wanda Investment reduced its holdings of 2245.74 million shares from June 12 to July 7, according to the estimated average price of 12.87 per share, cashing out about 289 million yuan; in addition, the 37.1877 million shares reduced from May 23 to June 13, cashing out 447 million yuan, a total of 2.5964% of the shares, a total of 736 million yuan.

In addition, Wanda Commercial Management’s performance is also a major support for cash flow. On July 3, Wanda Commercial Management released a business express, and 12 Wanda plazas were newly opened in the first half of 2023, with a total of 484 openings. The total rental income in the first half of the year was 26.32 billion yuan, an increase of 4.5% year-on-year; the net rent was 13.01 billion yuan, an increase of 7.2% year-on-year; the net rent of comparable Wanda plaza increased by 3.8% year-on-year. The rental rate was 98.2%, and the rent collection rate was 100%.

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The total prize money is100,000 yuan! Wanhu Night Market Nanchang Chinese Billiards King Challenge officially launched!

Nanchang Chinese billiards king challenge

Waiting for you to come to the competition

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host unit

Nanchang county people’s government

Nanchang broadcasting and TV station

organizer

Nanchang county yinsanjiao administrative Committee

Nanchang county education and sports bureau

Nanchang Radio and TV Station News Comprehensive Channel

co-organizer

Jiangxi Ruibo Recreation and Sports Co., Ltd. Jiangxi Zhidong Decoration Engineering Co., Ltd. No.8 Billiards Design Ruibo Billiards Club Fengyun Billiards Club Qiaoxing Billiards Club Modern Billiards Club Hunter Billiards Club Zhuoyue Billiards Club

Guiding unit

Nanchang billiards sports association

Special guest of the event

Xiao-Ting Pan

Registration time

December 14-January 22, 2023

Game time

December 31st-February 1st, 2023

exercise yard

Opening Ceremony-Wanhu Night Market

competition range

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Closing ceremony award

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competition event

Chinese billiards individual competition

Registration process

Online registration (you can register by entering the applet)

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Award settings

Champion: 50,000 yuan+trophy+certificate

Runner-up: 20,000 yuan+trophy+certificate

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(The specific details shall be subject to the final announcement)

Original title: "The total bonus is 100,000 yuan! Wanhu Night Market Nanchang Chinese Billiards King Challenge officially launched! 》

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Shohei Ohtani：＂Two Knives＂ in Baseball.

Kondo Daisuke/Wen

On July 5th, Shohei Ohtani, known as "the best Japanese athlete trained after the Second World War", celebrated his 29th birthday. Shohei Ohtani is 193cm tall and weighs 102kg. At present, he is a star player of American professional baseball team "los angeles angels".

Because the popularity of baseball in China is relatively low, it may be difficult for China people to appreciate the greatness of Shohei Ohtani. Like China, there is no major professional baseball league in Germany. Therefore, the German media once made a very vivid analogy with football. Shohei Ohtani, a Japanese professional baseball player, is like Lionel Messi and Manuel Neuer on the football field.

Messi, known as the best striker of this century, was the minister of the arm stocks who won the Argentine national team in FIFA World Cup Qatar 2022 last year. Neuer, known as the best goalkeeper in the world, has a superb defensive ability. If football matches are used as an analogy, Shohei Ohtani can be a goalkeeper like Neuer and create a lot of goals like Messi.

However, in the real football match, it is impossible for a player to be a goalkeeper and a striker at the same time. Similarly, in baseball, it is impossible to be a pitcher equivalent to goal keeper and a home run batter equivalent to a football striker. Of course, this, like football, is not "forbidden" in rules, but "impossible" in human physical fitness. Therefore, all football players and baseball players have never thought about having two jobs on the court.

However, since childhood, Shohei Ohtani dreamed that he could become a "court-riding" player who could throw, hit and run. In 2013, after graduating from high school at the age of 18, he joined the Japanese professional baseball team "Hokkaido Japanese Ham Fighters".

Perhaps it was God who blessed Shohei Ohtani. At that time, the head coach of this team was Hideki Kuriyama, who was called "the first Japanese intellectual coach". Later, coach Kuriyama became the head coach of the Japanese national team. At the WBC(WorldBaseballClassic) held in March this year, he led the outstanding players of Otani Xiangping to win the championship.

At that time, Coach Kuriyama was very supportive of Shohei Ohtani’s dream, and even praised his ability as a "two-knife flow"-usually, when Japanese samurai confronted each other, everyone used a knife, but Shohei Ohtani had both the throwing and hitting knives, so he was called "two-knife flow" by Coach Kuriyama. It didn’t take long for the word "two knives" to become a buzzword in Japan.

In Japanese, the expression similar to the meaning of "two knives" also includes "two pairs of sandals", that is, doing one’s job from nine to five in the morning and doing sideline work after work or on rest days in the evening. This behavior is called "wearing two pairs of sandals" by the Japanese.

However, in real life, neither "two knives" nor "wearing two pairs of sandals" is a compliment. This is because in the traditional Japanese values, the concept of "not serving two monarchs (samurai can’t be loyal to two monarchs at the same time)" and "those who chase two rabbits will lose (those who chase two rabbits at the same time will not get one)" has long been deeply rooted.

Therefore, Shohei Ohtani is under great pressure. However, he finally withstood all the pressure and became a bright star in Japanese professional baseball. In the 2016 season four years later, he led the team to win the national championship in Japan.

According to the baseball agreement signed between Japan and the United States, players who have played in the Japanese professional baseball league for five years can transfer to the American professional baseball league. According to this agreement, coach Kuriyama sent Shohei Ohtani to the American professional baseball team "los angeles angels" in 2018.

At the beginning of Shohei Ohtani’s transfer, the American media made harsh comments. If you borrow the above-mentioned German media, it is "I want to be Messi and Neuer. Is there something wrong with my brain?"

In fact, it is only natural that the American media "bad-mouthed" Shohei Ohtani. After all, since the end of World War II, although the general environment of baseball has been improved, no American baseball player is willing to make such an earth-shattering attempt. Shohei Ohtani, on the other hand, insisted on his "two-knife flow" in the United States.

In 2021, Shohei Ohtani’s capabilities broke out in an all-round way. As a batter, he hit 46 home runs; As a pitcher, he achieved a record of 9 wins and 2 losses and struck out 156 times, which perfectly achieved "the combination of Messi and Neuer". In the end, he won the MVP award that year.

In 2022, Shohei Ohtani continued the excellent state of last season, hitting 34 home runs as a batter and 15 wins and 9 losses as a pitcher. The reason why the loss as a pitcher has increased is mainly because los angeles angels was originally a weak team. Therefore, Shohei Ohtani always gives people the feeling of being alone in the team.

In March this year, the curtain of the new season of the American Professional Baseball League opened, and 30 teams will play 162 games. By July 9th, all the games in the first half of the season had ended, and Shohei Ohtani was striding forward to rewrite the history of American professional baseball.

As a batter, he is far ahead with 32 home runs. Hit rate is 0.302, ranking sixth. RBI 71, ranked second. 7 wins and 4 losses as a pitcher. Strike out 132 times, ranking third. If he has the same wonderful performance in the second half of the season, then he will definitely win the MVP for the second time.

At the moment, there are two things about Shohei Ohtani that have attracted much attention:

One is his annual salary next year. This year, Shohei Ohtani’s annual salary is 30 million US dollars (about 220 million yuan). If the sponsorship contract is added, it is said that it can reach more than 60 million US dollars (about 430 million yuan).

However, Shohei Ohtani will have the right to choose teams freely from next year. Therefore, his annual salary may reach 100 million US dollars (about 720 million yuan). At present, the highest annual salary of professional baseball players in the United States is 43 million US dollars (about 310 million yuan) for pitchers and 40 million US dollars (about 290 million yuan) for batters. Otani is both a pitcher and a batter, so his annual salary is at least the sum of the two.

Second, it is his marriage problem. Shohei Ohtani is 29 years old this year, but he has never mentioned his other half. When the team went on an expedition to new york in April this year, the local media asked him, "What do you think of new york at night?" His answer turned out to be "not very clear, because I have never been out of the hotel."

Therefore, it is said that many Japanese actresses, models and anchors are now coveting the throne of "Otani Xiangping’s wife". In American baseball fields, there are even white women holding "Be my boyfriend!" in the audience. Posters cheer for him.

Personally, I think the most remarkable thing about him lies in his personality and humanity. If there is rubbish on the site, he will immediately pick it up and put it into his pocket; If there is dust splashing on the opponent’s body, he will come forward and wipe it off with his hand; No matter how tired he is in training and competition, he will sign autographs for fans on the sidelines. Not only that, he has never lost his temper on the court. No one knows what great achievements this Japanese treasure will make in the future. I just hope that he can stay away from injuries and be safe and smooth.

9 am! The reason for the suspension of qi zhou’s transfer was announced, Yao Ming straightened his attitude, and sui ran’s abacus failed

Qi zhou’s transfer was stopped, and the real reason was revealed. chinese basketball association’s attitude was correct, and sui ran’s lion opened his mouth, and the abacus failed. Qi zhou, the core player of our men’s basketball team, has been hit by a wall in his personal transfer in the near future. The real reason is revealed. It can be said that this time with the release of the overall situation, it also proves that chinese basketball association has made a clear attitude, which has also made the whole incident in qi zhou clear. At the same time, sui ran’s wishful thinking has been completely frustrated. If qi zhou does not make any compromises and concessions in the future, it may be very difficult.

First of all, we all know that after the men’s basketball team in qi zhou and Xinjiang broke up, he didn’t play in CBA for several seasons, but at present, qi zhou didn’t play in Australia, so his future is still uncertain in the new season. chinese basketball association is also trying to promote qi zhou to have a ball to play, so in this offseason, the whole Basketball Association has also communicated with Xinjiang team many times, and the Basketball Association also hopes to solve qi zhou’s problem. However, after each team offered an olive branch to qi zhou, the two sides did not finalize the final personnel, nor did they finalize the relevant signings when each team was able to negotiate with the Xinjiang team.

Therefore, in the near future, we have also seen that the transfer situation of qi zhou is not very optimistic. Moreover, the two teams that want to sign for qi zhou are both CBA giants. For example, the Shanghai Men’s Basketball Team is indeed very experienced, and Beijing Shougang is also an old-fashioned powerhouse. It can be said that they are all very interested in qi zhou, and they also hope to implement real actors to make the team take a step forward in the new season. Why has the transfer of qi zhou been delayed? Is there any other reason for this?

In fact, the recent news from the relevant media has revealed the real answer to everyone, and also let us see the transfer of qi zhou. Perhaps the reason is not the Xinjiang Men’s Basketball Team or the signing of his club, but the economic, team and company level of sui ran and qi zhou. This time, we saw that the details about the Shanghai men’s basketball team’s previous signing of qi zhou were also exposed. The Shanghai men’s basketball team was asked by the Xinjiang team to send Yuan Tangwen to replace qi zhou, and at the same time, it was able to pay the Xinjiang team a transfer fee of 35 million yuan. Such a situation could have been formed. After all, the Shanghai men’s basketball team belongs to the salary team of the giants.

The biggest reason is that after the Shanghai Men’s Basketball Team paid the Xinjiang team 35 million yuan, it also paid qi zhou 35 million yuan. Such a situation runs counter to the relevant regulations of the Basketball Association, so the overall situation was not recognized by the Basketball Association and did not take shape. Since then, Beijing Shougang has also encountered the same problem in signing qi zhou. If Beijing Shougang wants to sign qi zhou, I have to pay qi zhou 40 million yuan for such a fee, so the overall situation is still not recognized by the Basketball Association, and it is finally ruined. After such a situation is exposed, it actually proves that qi zhou’s transfer problem does not lie in the Xinjiang Men’s Basketball Team, nor does it lie in signing his team.

It lies in an economic team like qi zhou himself and sui ran. It can be said that there are indeed some big openings in sui ran’s economic team. Under the circumstances that the overall salary of CBA has dropped and the Basketball Association has made clear provisions, sui ran also made such a request, which is indeed unreasonable, which has become a real reason for qi zhou’s continuous transfer. If CBA can’t become the foothold of qi zhou this season, whether he can keep his personal good condition in the future and whether he can land in CBA again is really a big question. In this case, there is really no winner, and it is also an outcome that everyone doesn’t want to see for China men’s basketball fans. Therefore, we also hope that under this circumstance, the sui ran team can better consider qi zhou’s future and let qi zhou return to the competition stage as soon as possible, so that the fans can see his performance.

Three years and 186 million dollars, the Lakers shot! The average salary is 62 million, which is the first in history!

Rich Paul, the agent of Thick Eyebrow, revealed that Thick Eyebrow has reached a three-year contract with the Lakers with a maximum salary of $186 million. The average salary of this contract reached $62 million, which is the highest average salary renewal contract in the NBA.

Today, it is the first day that Thick Eyebrows get the qualification to renew their contracts in advance. According to ESPN, Pelinka, the general manager of the Lakers, contacted Ricky Paul at the first time and sent him this high contract renewal. And heavy eyebrows didn’t think too much, and readily agreed.

Also, the previous news was that the maximum amount of thick eyebrows should be only 170 million in three years, but the Lakers directly gave 186 million dollars. Juxin is more than 60 million yuan, so we really have to agree quickly, lest the Lakers go back on their word. After this renewal contract comes into effect, thick eyebrows will become the highest-paid player in NBA history. Some people may say, what about the previous five-year $304 million contract in Jaylen Brown? Jaylen Brown’s share is the largest contract, exceeding $300 million. On average, the annual salary is $60.08 million, not as much as heavy eyebrows. The maximum salary varies with the salary cap every year, so the annual salary of Brown’s contract is $52.15 million, $56.32 million, $60.49 million, $64.66 million and $68.83 million respectively.

Thick eyebrows and the Lakers have two years left in their original contract, plus a new contract extension of three years. So the annual salary for the next five years is 40.6 million US dollars, 43.2 million US dollars, 57.6 million US dollars, 62.2 million US dollars and 66.8 million US dollars respectively. Therefore, this is really the biggest contract that the Lakers can give thick eyebrows. At present, the five NBA5 contracts with the highest average salary are $62 million, $60.7 million from Brown, $59.9 million from Lillard, $58.7 million from Booker and $58.7 million from Downs. Did you expect Downs to get such a big contract? Among them, Lillard is 33 years old, Thick Eyebrows is 30 years old, Downs is 27 years old, and Brown and Booker are 26 years old.

It can be seen that the Lakers want to keep the peak of heavy eyebrows in the Lakers as much as possible. Although it is said that thick eyebrows are fragile, there is such a set of data. In the past seven seasons, thick eyebrows have played 400 games, surpassing Embiid’s 394 games, Curry’s 387 games, Owen’s 362 games and Durant’s 345 games. That’s it. I haven’t come up with Leonard’s data yet Therefore, although the heavy eyebrows are brittle, they are actually not so brittle. Small injuries do continue, but at least they have not been seriously injured. And compared with other superstars, the appearance rate of thick eyebrows is ok. Moreover, the Lakers also intend to reinforce the fifth position to share the pressure for the thick eyebrows and avoid more injuries.

One more thing to note is that there are two years left in James’ contract with the Lakers, which means that the year when James’ contract expires is the year when Heavy Eyebrows’ new contract takes effect. So is it understandable that the Lakers are preparing for James’ retirement and keeping the team competitive?

It’s just that the ability of heavy eyebrows to lead the team alone is really not excellent. I don’t know if the 32-year-old heavy eyebrows will still have the explosive power of the pelican period. Of course, there is no shortage of attraction in Los Angeles. Will other super giants join after James retires?

Pawar has scored 6 goals in various competitions this season, setting a new career high.

Live broadcast: On March 11th, the game between Bayern and augsburg is underway. Bayern is currently leading 3-1, and pawar scored twice, scoring a goal to overtake the score and expanding the lead.

Statistics show that pawar has scored 6 goals for Bayern in various competitions this season, setting a new record for his single-season goals.