The New Strategy Of "Wanda" From "Heavy To Light" Has Achieved Initial Success.

More than 7 months after listing in the Hongkong stock exchange, Wanda business handed in a beautiful transcript. According to the unaudited business data released before July of 2015, Wanda Commercial real estate Limited by Share Ltd and its Affiliated Companies in 2015 1 to July total sales contracts totaled about RMB 69 billion 107 million yuan, representing an increase of 8% over the previous year. The total contracted sales area was about 7 million 525 thousand and 500 square meters, representing an increase of 38.9% over the same period last year. In terms of rental income, the group achieved a total rental income of RMB 7 billion 911 million yuan in 1-7 months in 2015, representing an increase of 32.7% over the same period last year.

Wanda maintained its cash flow balance, with the largest luxury hotels in China and overseas expansion plans. It is estimated that Wanda's net asset value ranges from 306 billion yuan to 376 billion yuan. Several big investment banks hold full confidence in Wanda, and the market believes that its mode and transformation can stimulate tremendous potential to be released.

The consumption volume of offline consumption platform represents a real livelihood dependence of consumers. Through this kind of livelihood dependence, we can achieve mutual benefit and prosperity between business owners and owners in the commercial real estate structure. This is the sustainable business development mode.

It is noteworthy that Wanda Commercial rental income growth is nearly 3 times the growth rate of real estate revenue. According to the estimate, after the transformation, the two Wanda Plaza's revenue from Wanda Plaza is equivalent to that of Wanda Plaza, which is now operating in a heavy asset mode. After the implementation of the future light asset model, Wanda Plaza will develop several times faster than today. Heavy asset model The next Wanda Square. It shows that the choice of "Wanda" from the "light to light" has achieved initial success.

Lv Xiaohui, a professor of management at BiMBA business school and a Walton School of management at University of Pennsylvania, said: "the transformation of Wanda is an active change rather than a passive adaptation. Today's fourth transformation is the initiative of Wanda 9 years to maintain a growth rate of more than 30%.

Subdivision, Wanda this time Transformation Divided into two aspects, from a spatial perspective, it is transformed from Chinese enterprises to multinational enterprises. From the content perspective, it is transformed from real estate oriented enterprises to service oriented enterprises.

In January of this year, Wanda Signed an investment framework agreement with Everbright, Harvest Fund, Sichuan trust and fast money company. 4 agencies will invest 24 billion yuan to build about 20 Wanda Plaza. In May, Wanda launched the commercial real estate crowd raising project "earn 1". The total annual yield is expected to reach more than 12%. Once launched, it will take seconds.

Despite the good performance of all sectors, in the black Monday of the stock market this week, the stock market of many large companies also suffered "no escape" because of the global stock market crash. As of 22 o'clock on August 24th, Tencent fell 5.02%, Baidu fell 8.8%, and Alibaba fell 6.7%. Among them, Alibaba shares once fell below the issue price, Wanda shares also unfortunately lying gun.

However, this year's transformation of light assets has opened up the market's imagination for Wanda's valuation. Goldman Sachs, CICC and Credit Suisse, several top investment banks, are unanimously optimistic about Wanda's potential for growth in the future. They believe that Wanda's commercial stocks are seriously underestimated.

Goldman Sachs estimated that Wanda's annual earnings growth rate will reach 36% in the 2014-2016 (expected) year, with an estimated annual profit of 13.6% in the 2014-2016 (expected) year and a return on equity of 12%. The range of forward equity valuation ranges from HK $256 billion to $427 billion. Goldman Sachs believes that the strategy of "Wanda" is clear, plus a team of experienced and powerful executive teams, combined with the integration of its property development and operation value chain, thus forming an autonomous ecosystem. CICC Hongkong securities estimates that the fair value of Wanda ranges from 233 billion to HK $237 billion, with a forecast of 9 to 9.2 times earnings in 2015.