Wang Jianlin says some people are spreading rumors about his Dalian Wanda group to "make trouble."
Chinese billionaire Wang Jianlin is fighting back against talk that his sprawling business empire is in trouble.
You've got to know when to hold 'em, know when to fold 'em, know when to walk away and know when to run.
When a high-profile business figure gets caught in the Chinese Communist Party’s crosshairs it’s nearly impossible to get out.
Состояние председателя правления компании Dalian Wanda Ван Цзяньлиня, согласно последним данным американского журнала Forbes, составляет около $32 млрд
Key Wanda businesses include AMC, the U.S. theatre chain
Пекин, 11 июля /ChinaPRO.ru/ – Wanda Group, принадлежащая китайскому миллиардеру Ван Цзяньлину, продала 76 отелей и 13 туристических объектов. Покупателем стала девелоперская компания Sunac China. Сделка, которая стала крупнейшей в истории рынка недвижимости КНР, будет закрыта до конца июля 2017 г. Общая стоимость проданных объектов составляет $9,3 млрд.
Компания Wanda Group, один из крупнейших китайских покупателей зарубежных активов, объявила о продаже отелей и туристических объектов компании-конкуренту. Сделка является крупнейшей в истории китайского рынка недвижимости.
Компания Wanda Group, один из крупнейших китайских покупателей зарубежных активов, объявила о продаже отелей и туристических объектов компании-конкуренту. Сделка является крупнейшей в истории китайского рынка недвижимости.
The man who declared war on Disneyland just opened the world’s largest indoor ski resort. And now he’s being forced to sell it. As the South China Morning Post reports, Wanda City, the $6 billion resort development built by China’s wealthiest tycoon Wang Jianlin, opened for business two weeks ago. The resort, which, at 1.6 square kilometres, is the world’s largest indoor ski park. Now, it’s being sold along with the company’s other theme-park related holdings as Wanda Group seeks to pay down some of its enormous debt burden, which has recently attracted the scrutiny of Chinese authorities. The push into theme parks, part of the conglomerates debt-fueled global shopping spree involving several entertainment businesses, was partly an issue of national pride for Wang. When Disneyland Shanghai opened last year, drawing enormous crowds, Wang angrily declared “the frenzy of Mickey Mouse and Donald Duck and blindly following them is over,” according to the New York Times, and vowed that his theme parks would be even more successful. The announcement of the deal triggered a bizarre reaction when shares of Wanda Hotel Development (0169.HK) - which is mostly responsible for development of property projects outside of China -and which inexplicably surged more than 150% after news of the deal... even though none of the hotels being sold are included under this entity. As shown in the chart below, shares of Wanda Hotel Development exploded higher, the most since April 2013, after the news that its parent was selling hotel assets to Sunac, yet assets which were completely unrelated to 0169.HK. Located in the city of Harbin - near the country’s northern border with Russia - the resort features Russian architecture, a movie theater and a grand piano-shaped indoor ski resort that allows 3,000 people to ski or snowboard on six runs, all in an area covering 1.6 square kilometres. Up to 30,000 people will be hired to work in the resort, Wang said around the time of the opening. Harbin is also known for having China’s harshest winters. “Harbin is known as the city of ice, which also happens to be the main theme of this resort, so we will together provide winter sports throughout the year,” Wang said. According to the SCMP, skiing is gaining popularity in China, as the country prepares to host the 2022 winter Olympics in Zhangjiakou near Beijing. The indoor ski slope isn’t exactly exotic in Harbin, where the winter season can last as long as six months, with the lowest temperature plummeting to minus 36 degrees Celsius. The city’s main tourist attraction is its annual ice festival, featuring life-size sculptures carved out of ice. “This is a brand-new community that includes not only a theme park, but also a school, a hospital, housing and hotels,” said Andrew Kam, vice president of Wanda Cultural Industry Group, whom Wang hired from Hong Kong Disneyland. “There is nothing like this before.” Wang had pumped nearly 40 billion yuan ($6 billion) into the Harbin resort, since opening a similar-size Wanda City in Nanchang city in southeastern China’s Jiangxi province in May last year. Tickets to Wanda’s Harbin resort start from 68 yuan for a 2-hour tour of a snow castle for an adult, and as much as 488 yuan for unlimited use of the ski slope. By comparison, an adult ticket at Shanghai Disneyland costs start from 370 yuan during the low season and goes up to 499 yuan during the peak season. Wanda agreed to sell its theme-park business on Monday as part of a $9.3 billion deal involving 76 hotels and a major chunk of 13 tourism projects. Wang sold the portfolio to Sun Hongbin’s Sunac China in a deal worth 63 billion yuan (US$9.3 billion). All the proceeds from the sale will be used to repay bank loans, Chinese media Caixin reported. The sale comes after China’s banking regulator last month asked lenders to review loans made to big overseas deal makers, including Wanda, to assess whether their escalating debt posed a credit risk, the Wall Street Journal noted. While no wrongdoing was indicated, the revelation sent the stock prices of Wanda-related companies falling, while the yield on its bonds shot up. Wanda was cited on June 22 by the China Banking Regulatory Commission for special attention, along with the country’s three other biggest overseas asset buyers Anbang Group, Fosun Group and the HNA Group. The four must pay the equivalent of $11.5 billion in debt service by the end of 2018. Wanda said it’s disposing of assets to “fully exercise the competitive industrial advantage” with its buyer, but analysts, who already smell blood in the water, say the company may be buckling under the scrutiny of China’s banking regulator to pare back on debt. “Wanda may be feeling the financial pressure, or it won’t need to sell off so many assets,” said Liu Feifan, a property analyst at Guotai Junan International. “Wanda may badly need funding to support its expansion, but can’t count on rental income.” The company has confronted other failures earlier this year. Wanda had to abandon a $1 billion takeover of Dick Clark Production in March, after it failed to obtain regulatory approval to remit funds for the acquisition, incurring a $50 million breakup penalty. The company famously bought film-production studio Legendary Entertainment, which released the blockbuster “Jurassic Park III,” in early 2016, provoking fears among lawmakers that the company’s new Chinese owners would seek to influence how China is portrayed in US media. The deal is the single largest property transaction in Chinese history. Sunac China, the seventh-largest Chinese developer, was founded by Shanxi tycoon Sun Hongbin, one of the country’s most acquisitive property developers. The deal also shows how quickly companies will respond to regulators’ concerns. It raises the question: Will this be China’s preferred strategy for deleveraging its corporate sector? An ad-hoc approach where regulators single out companies for criticism, then allow pressure from investors to work its magic?
Overnight, a major M&A deal was announced in China, where local property giant Dalian Wanda Group announced plans to sell various Chinese tourism projects and hotels to Sunac China for $9.3 billion, dialing back its theme-park ambitions and in hopes of reducing its massive debt pile. The sale, the second-biggest real estate deal ever in China according to Reuters data, is supposed to help strengthen Wanda's case for a mainland listing after its property unit delisted from Hong Kong last year. For Sunac, it would mean ownership of a wide portfolio of tourism developments at a time when it is spending billions on property and technology assets. The details: Wanda said it would offload 91% of thirteen cultural tourism projects, which usually include theme parks and leisure complexes, and 76 hotels to the acquisitive Tianjin-based developer Sunac for 63.18 billion yuan, or just over $9 billion. After the sale, Wanda would, however, continue to play a role in operating and managing the projects. Wanda, which also has interests in films and sports, had plans to build at least 20 cultural projects around China. Its billionaire owner Wang Jianlin had last year said his "wolf pack" of parks would beat U.S. rival Walt Disney Co. "This (deal) signifies a retreat from Wanda's previous strategy in cultural tourism, and marks a pivot to an asset-light strategy," said Qin Gang, senior researcher at State Information Center, a government-linked think tank. The firm, which had earmarked a more than 300 billion yuan ($44 billion) investment for its cultural and tourism projects, did not give a reason for the sale to Sunac, but local business magazine Caixin quoted Wang as saying the deal would ease the debt burden on Wanda's property unit. "Through this asset transfer, Wanda Commercial's debt ratio will be greatly reduced, all the proceeds will be used to repay loans. Wanda Commercial plans to repay most of the bank loans this year," Wang told Caixin. Wanda is among the best-known Chinese offshore acquirors and has been very active globally, with deals for U.S. cinema chain AMC Entertainment Holdings, Hollywood film studio Legendary Entertainment, Infront Sports & Media AG and Spanish soccer team Atletico Madrid. * * * On the other side of the deal is Sunac, whose boss Sun Hongbin has also led the group on an acquisition spree, including paying $2.1 billion for the real-estate assets of Legend Holdings, parent of PC-maker Lenovo, and $2.2 billion for a stake in Leshi Internet, a unit of LeEco - a Chinese Netflix-to-Tesla-like conglomerate. The stake in Wanda cultural and tourism projects will cost Sunac 29.58 billion yuan. The price tag for the hotels is 33.6 billion yuan. While Sunac's shares have more than doubled in value this year, analysts quoted by Reuters worry Sunac could have bitten off too much. It has a negative outlook rating from Moody's, which said in April Sunac's leverage had deteriorated significantly due to large amounts of debt it had raised to support acquisitions. Oh well, if it hits a tipping point, it will simply get a bailout from China. * * * None of the above was particularly exciting; what was, however, is another small company caught in the crossfire, Wanda Hotel Development (0169.HK) - which is mostly responsible for development of property projects outside of China -and which inexplicably surged more than 150% after news of the deal... even though none of the hotels being sold are included under this entity. As shown in the chart below, shares of Wanda Hotel Development exploded higher, the most since April 2013, after the news that its parent was selling hotel assets to Sunac, yet assets which were completely unrelated to 0169.HK Just to make it clear that investors should not be buying its stock on the news, a Wanda Hotel Development representative said the deal announced between its parent group and Sunac China Holdings Ltd. has no direct impact on Wanda Hotel, the Hong Kong-listed company. But it was too late: the stock had already soared from 0.60 to nearly 1.50... ... before retracing only some gains. In a filing with the HK stock exchange later, the company said it wasn’t aware of any reasons that caused the surge in its share price and trading volume, and added that it was unaware of any information which must be announced to avoid a false market or any inside information that needs to be disclosed under securities rules. In short: for anyone who had read the press release of the deal, there was no reason at all to buy Wanda Hotel Development, and therein lies the rub, because what the algos did do, is buy first and ask (maybe) questions later. The result: a stock which nearly tripled - for no reason at all - just because an avalanche of clueless algos bid it up, prompting even more clueless algos to chase the momentum, until a full blown buying frenzy on massive volume emerged. That the stock was very cheap and liquid, certainly helped. The take home message: with many instances of similar parent-OpCo patterns available in China, in which a massive publicly traded company has similarly named public spin offs in regional markets, traders should buy stocks not in potential tragets, but in those companies who have the same names and whose market cap is much lower, and wait for the next algo freak out to occur.
Сделка, которая будет закрыта до конца месяца, станет крупнейшей в истории рынка недвижимости Китая
Wang Jianlin's Wanda Group controls U.S. theatre chain AMC
Chinese billionaire Wang Jianlin announced on Saturday that he will donate US$2.9 million to help landslide victims rebuild their homes in southwest China's Sichuan Province.
SHENZHEN-LISTED Wanda Cinema Line Co surged 3.6 percent today after its parent firm Wanda Group announced the plan to increase the listed firm’s stake with no more than 1 billion yuan (US$145 million).
Акции Alibaba, основным владельцем которой является Ма, выросли на новостях о прогнозируемом полуторократном росте выручки онлайн-ретейлера в следующем году
Via Disobedient Media As China's economy has boomed, corporations and individuals with historically close ties to the government have been the major beneficiaries. Sitting flush with massive amounts of cash on hand, power players in the Chinese markets have increasingly sought to branch out and increase their investments in foreign countries. Many of these investments target key industries despite their own government often restricting or forbidding the same kind of foreign investment domestically. Concerningly, figures with ties to anti-American factions of the Chinese government such as real estate mogul Wang Jianlin have targeted American media outlets in the U.S. as investment targets while at the same time beginning to increase rhetoric towards U.S. leaders and becoming involved in corruption scandals. The increased investment comes at a time where Hollywood celebrities have also become increasingly cozy with Asian investors and in some cases become embroiled in Asian financial scandals. I. Wang Jianlin Is A Former PLA Regimental Commander Whose Dailan Wanda Group Has Been Acquiring Various Hollywood Media Assets Wang Jianlin (???) is a Chinese billionaire who stands at what the New York Times has described as the intersection of business and power in China. Mr. Wang served 16 years in the Chinese People's Liberation Army, rising to the rank of regimental commander. He is described by Forbes magazine as connected to Ke Xiping, the Chinese Tycoon who played a middleman role in helping the government of China in buying influence in Democratic propaganda outlet Shareblue. In 1988 he was offered a management position at a debt-burdened state run enterprise while working at a provincial government post in Dalian, China. The company was transformed into the Dalian Wanda Group (??????) and established itself building and operating commercial property, luxury hotels, culture and tourism, and department stores. While the company has its roots in property and infrastructure, Mr. Wang has begun to push Dalian Wanda in a bold new direction: investing in all six of Hollywood's major studios. One of Dalian Wanda's first major acquisitions in Hollywood was AMC Entertainment Holdings, purchased in 2012 as part of what was described as being an attempt by the Chinese movie industry to study American markets and understand why viewers had previously been unresponsive to Chinese media. In January 2016, Dalian Wanda purchased Legendary Entertainment, who have co-financed dozens of movies with partners, including films such as “The Dark Knight,” “Jurassic World” and “Straight Outta Compton.” The investment was followed by a purchase of a stake in Sony Pictures. Dalian Wanda's push to acquire real estate in the Hollywood film industry has been fraught with pushback from both American interests as well as other Chinese groups competing with Wang for control in Hollywood. Wang also made a bid to acquire Dick Clark Productions, the company responsible for running the Golden Globes and Miss America pageants. On March 17th, 2017, Variety reported that the $1 billion deal had fallen through. Reuters speculated that the deal's failure might be due to high U.S.-China tensions and tight scrutiny by Beijing on outbound deals. In March 2017, Chinese president Xi Jinping replaced the PLA’s vice chairman of the Central Military Commission, a move that many observers saw as an effort to clean up corruption and consolidate Beijing’s control of the PLA. The action may have affected Wang's business dealings due to his affiliation with factions of the Chinese military. In September 2016, Viacom vetoed a deal to sell a stake Paramount Pictures to Dalian Wanda, instead opting to revive negotiations with two other Chinese media companies in April. II. Hollywood Celebrities Have Been Wooed To Asia, Become Involved In Scandals Wang Jianlin has also made overtures towards Hollywoods celebrities in an effort to draw them into the Asian film market. When Wang opened his Oriental Movie Metropolis in Qingdao, China, a number of A-list stars including Nicole Kidman, Kate Beckinsale, John Travolta, Leonardo DiCaprio and Zhang Ziyi were in attendance. Leonardo DiCaprio's increased focus on Asian markets and audiences has also managed to land him in scandal, specifically for his involvement in the Malaysian 1MDB scandal. The 1MDB Scandal began in 2015 when it was discovered that Malaysian Prime Minister Najib Razak had funneled over $700 million from the state run 1Malaysia Development Berhad development fund into his personal accounts. These reports sparked panic as 1MDB faced increasing difficulty repaying its debts. The scandal spread as governments around the world moved to arrest involved parties and seize assets. In the United States, the Department of Justice moved in and made what the BBC reported as being its largest asset seizure in history, over $1 billion. The scandal also involved Chinese banking conglomerates who have assisted with Dalian Wanda's acquisitions abroad. A press releases from 1MDB's website and the Chinese Ministry of Commerce revealed that the state run Export-Import Bank of China (???????) (China-Exim) agreed in 2014 to jointly develop the Tun Razak ITC Landmark Building in Malaysia. Started in 2014, the project was not scheduled to be completed until 2027, raising questions about whether or not the deal was a fraudulent transaction intended to conceal transfers of cash. DiCaprio's involvement centered around revelations that the production company behind the movie The Wolf of Wall Street. The Hollywood Reporter also noted that the Leonardo DiCaprio Foundation allegedly received money from a Christie’s charity auction in which businessman Jho Low allegedly used $1.1 million from the 1MDB fund to purchase to pieces of art. The Wall Street Journal reported that DiCaprio was cooperating with the Department of Justice in their probe of the scandal. Disobedient Media has previously reported that DiCaprio has in the past been involved along with other celebrities in a money laundering scheme being run by an alleged Russian mobster. III. Concerns About Chinese Use Of Hollywood Media To Project "Soft Power" Many have expressed reservations about China's forays into American media outlets due to the influence they hold over American hearts and minds. The Los Angeles Times has cited concerns among some lawmakers that Dalian Wanda could wield too much control over the content and distribution of American movies given its close ties to the Chinese government. During the time that Wang Jianlin's holdings were exercising increased influence over the Golden Globes, the 2017 awards ceremony was one of the most political on record despite Wanda executives' assurances to the press that they would not use their control of Dick Clark to interfere with the awards process. In an October 2016 article by Variety, Hawk Koch, a Hollywood based advisor to Wang Jianlin, directly stated that Chinese films would play a larger role in studios purchased by Dalian Wanda. The deep ties that Wang Jianlin has to the People's Liberation Army do not inspire confidence in his claims that he would not use his control over U.S. media outlets for propaganda purposes. China has in the past used mediums such as radio to influence Americans and push tacitly pro-Chinese messages. In November 2015, a Reuters investigation into a local Washington D.C. radio station exposed the involvement of Chinese government in controlling radio broadcasting at 33 radio stations in 14 countries being run in a covert manner by the state run China Radio International. The Chinese government has at times played a central role to Dalian Wanda's expansion which accentuates concerns over how Wang Jianlin's control of U.S media will be used. When Wang purchased AMC Entertainment, the deal was financed by the China Exim Bank, which was previously also tied to the 1MDB scandal. The close relationship between Wang Jianlin, the PLA and the China-Exim Bank raises the very real possibility that factions within the country will exert their influence in Hollywood to push Chinese "soft power" to American and international audiences, given that China has a history of engaging in this kind of behavior. IV. Wang Jianlin Has Engaged In Anti-Trump Rhetoric And Become Involved In U.S. Scandals Since beginning his push to focus on acquiring Hollywood film industry assets, Wang Jianlin has begun to engage in increasingly hostile rhetoric against president Donald Trump. On December 10th, 2016, Wang issued veiled threats to the incoming U.S. leader where he warned that 20,000 people employed by him “wouldn’t have anything to eat" in the event that things were "handled poorly" during future negotiations. Wang's newfound boldness in speaking out so strongly against U.S. authorities may arise from the fact that he has so far been able to escape consequences for his role in a New York scandal involving mayor Bill DeBlasio. On August 29th, 2016, local New York media outlet Spectrum News revealed that in March 2016 a City Hall lobbyist Jim Capalino had set up a private, no cameras allowed meeting between Bill de Blasio and Wang Jianlin. A spokesperson said that the meeting was about Chinese tourism. The meeting was significant as China Vanke, a firm Wang had partnered with, is implicated in a scandal surrounding Rivington House. Rivington House was a Lower East Side nursing home which was converted into luxury apartments and sold for a $72 million profit after a city agency approved a zoning change. The day after Spectrum News' story, Daily News reported that De Blasio cut ties to Capalino after the lobbyist was implicated in a number of "pay-to-plan" schemes being investigated by Manhattan U.S. Attorney Preet Bharara. The New York Post mentions that Capalino is one of a number of lobbyists with close ties to Bill de Blasio who are under legal scrutiny for alleged fraud or cronyism. Wang Jianlin's involvement in American corruption, his brazen rhetoric towards U.S. politicians and his increasing control over the content of media which is consumed by Western viewers and audiences presents a very real problem given his historic ties to the PLA. Disobedient Media has noted in the past that Hillary Clinton's Goldman Sachs speeches directly implicate factions in the PLA as being responsible for promoting Chinese policies of non-intervention in North Korea, emboldening the country to acquire nuclear weapons and engage in belligerent and hostile behavior towards their neighbors. The close proximity of Wang and his empire to figures associated with such activities creates questions about his true intentions regarding U.S. investment and the U.S. political figures who willingly welcome him with open arms.
China's richest man Wang Jianlin has lost up to 200 million yuan (US$29.3 million) from a deal brokered in Spain three years ago because of a shift in exchange rates.
Китайский конгломерат Dalian Wanda Group, принадлежащий самому богатому человеку Китая Ван Цзяньлиню, достиг предварительного соглашения с властями индийского штата Харьяна об инвестировании $10 млрд в строительство промышленной зоны в штате, сообщает агентство Bloomberg.