How Does Qu Dejun Interpret The Strategic Transformation Of "Asset Light"?

In the current economic situation, the overall decline of commercial real estate has been obvious, while Wanda still maintains a strong growth momentum.

According to the data from the 2015 Wanda Group Semi annual Work Conference and the first semi annual report of Wanda Commerce, the revenue of Wanda Group in the first half of 2015 increased by 18% year on year, and is expected to increase by more than 20% year on year in the whole year, which is very rare among the super large enterprises above 100 billion level nationwide.

Among them, Wanda Commercial's revenue in the first half of the year was 73.41 billion yuan, completing 101% of the plan in the first half of the year, up 12% year on year; The rental income in the first half of the year was 7.02 billion yuan, 102% of the plan in the first half of the year, a year-on-year increase 33.3%, and the rent collection rate is 100%, maintaining the global leading level. The growth rate of rent far exceeds the growth rate of income, which means that the proportion of Wanda's commercial rent income in profits is rising rapidly. In the next year or two, the rental income of Wanda Commercial is expected to exceed 50% of the profits, becoming the main source of profits. Wanda Commercial will also realize the transformation from a real estate enterprise to a service-oriented enterprise.

In addition, there is a set of data worth noting. Under the impact of the consumer market downturn and online consumption, Wanda Plaza's passenger flow in the first half of the year reached 924 million person times, a year-on-year increase of 27.8%, and it is expected that the annual passenger flow will exceed 2 billion person times. This is also rare.

According to the analysis of insiders, from the half yearly report of Wanda, the effect of asset light transformation of the company has initially appeared. Among them, Qu Dejun, as a member of the core management of the Group, the main person in charge of Wanda Commercial, and the CEO of Wanda Commercial Real Estate Co., Ltd., has natural contributions.

Qu Dejun, who has always kept a low profile in front of the media, received a rare exclusive interview with reporters after he was officially shortlisted as "2015 China Chain Store Person of the Year". Through in-depth exchanges with him in terms of asset light transformation, e-commerce strategy, department store adjustment, and innovative culture, it is not difficult to see his foresight and strategy for the future of Wanda business, but also highlights his foresight and persistence in the development of domestic real business.

Today“ transformation ”The word "two words" has not only become a popular word for enterprise development, but also an eternal topic for enterprise development. No enterprise is conservative in its development. Only by constantly adapting to the changes in the market can it survive in this era of great competition. As the leading enterprise of domestic commercial real estate, Wanda is also in the enterprise transformation period again.

It is reported that Wanda will open 26 projects this year, increasing the area of property held by more than 5 million square meters. In 2015, Wanda will hold 25 million square meters of property, becoming the largest real estate enterprise in the world. After the implementation of the asset light model, the development speed of Wanda Plaza will double. There will be 56 in 2016, 65 in 2017, and more than 70 in 2018. By 2020, there will be 400 to 500 Wanda Plaza in China.

In addition, this transformation is also the result of Wanda culture. Wanda has been constantly seeking changes in its development. Each transformation is not a sharp turn for Wanda, but an active transformation after long-term thinking and clear goals. After this transformation of "light assets", Wanda will only be a shopping center, and its project funds will also be invested by investment institutions. Wanda will come to specific site selection, design, construction and operation, and then share the benefits.

It is understood that the core of this transformation strategy is "asset light", which is called "the fourth transformation" within Wanda, and has undergone qualitative changes: first, for the first three transformations, enterprises have always focused on real estate, and this time they have directly turned to the service industry; Secondly, the strategic objectives have undergone essential changes, from China's first-class enterprises to world-class multinational enterprises, and formed three pillar industries of commerce, culture and finance.

　　 Qu Dejun Tell the reporter that in the words of Wang Jianlin, Chairman of the Group, on the one hand, it is to avoid being affected by the economic cycle. Since 2013, the economy has entered the downward channel. Although the country has taken a series of measures, the improvement is not significant, which indicates that the regularity of economic downturn is still playing a leading role and the cycle is not over. The real estate industry is also a typical cyclical industry. Due to the cyclical impact, the sales of the real estate market are gradually cooling down. After Wanda's transformation, Wanda's business will get rid of the impact of economic cycle.

on the other hand, Wanda The reason for choosing this time for transformation is mainly to gain greater competitive advantage. Qu Dejun explained: "The real estate industry has transitioned from a period of rapid development to a new normal of steady growth. The previous heavy asset model of the company, which mainly invested in" building cities "by itself, and then relied on the sales of housing, property, etc. to feed back the business, has obviously been hampered. The speed of real estate sales will slow down, and many third and fourth tier cities with poor residential sales will naturally be unable to enter. In this situation Under the circumstances, Wanda needs to achieve transformation and get rid of dependence on real estate. "

Qu Dejun told the reporter that from the commercial level of Wanda, in popular terms, only shopping centers will be built after the light asset transformation. As a result, our selection criteria for entering cities have been greatly reduced. First of all, the land acquisition area will be greatly reduced. Generally, 60 to 80 mu is enough to build a shopping center of 100000 square meters; Secondly, as long as the population reaches 400000 to 500000, Wanda can enter. As the scale of the volume shrinks, its development speed will naturally increase accordingly.

In addition, due to the smaller land acquisition area, it is often the core area of the city, which not only has advantages for the long-term healthy development of the project, but also shortens the market cultivation period.