Traditional Culture Encyclopedia - Hotel franchise - Wanda Commercial Management’s revenue last year was 78.7 billion, and it plans to acquire equity interests in ten companies for 7.881 billion

Wanda Commercial Management’s revenue last year was 78.7 billion, and it plans to acquire equity interests in ten companies for 7.881 billion

In 2019, Wanda Commercial Management’s operating income was 78.656 billion yuan, a year-on-year decrease of 26.18%; the gross profit margin was 53.69%, an increase of 3.87 percentage points from the same period last year. At the same time, there are related transactions to acquire the equity of 10 commercial plaza project companies, involving a total payment of 7.881 billion yuan.

Guandian Real Estate News: On April 30, Dalian Wanda Commercial Management Group Co., Ltd. released its annual corporate bond report.

The report shows that in 2019, Wanda Commercial Management’s operating income was 78.656 billion yuan, a year-on-year decrease of 26.18%; operating costs were 36.426 billion yuan, a year-on-year decrease of 31.87%; the gross profit margin was 53.69%, an increase of 3.87 percentage points compared with the same period last year. Among them, the main business income was 78.279 billion yuan, a year-on-year decrease of 24.34%, and the operating cost was 36.1 billion yuan; the gross profit margin was 53.88%, an increase of 2.78 percentage points from the same period last year.

In terms of operating income by product or service, investment property rental income was 35.148 billion yuan, a year-on-year increase of 16.14%, and the gross profit margin was 76.25%, a decrease of 3.0% from the same period last year. 35 percentage points. Hotel operating income was 1.469 billion yuan, a year-on-year decrease of 0.04%, and the gross profit margin was 42.9%, a decrease of 6.5% compared with the same period last year. Property sales revenue was 38.218 billion yuan, a year-on-year decrease of 44.31%; gross profit margin was 37.01%, a decrease of 8.59 percentage points from the same period last year.

In this regard, Wanda Commercial Management said that the 30.68% increase in investment property rental costs was due to the increase in cooperation projects and the corresponding increase in costs. Property sales revenue decreased by 44.31% due to the decrease in sales and occupation scale, and property sales cost decreased by 41.06% due to the decrease in sales and occupation scale.

At the end of the period, the net cash flow generated by Wanda Commercial Management’s operating activities was 16.801 billion yuan, a year-on-year decrease of 42.66%, mainly due to the reduction in the scale of sales of properties and the cash received from the sale of goods and provision of services. reduce. The net cash flow generated from investing activities was negative 5.723 billion yuan, a year-on-year decrease of 79.05%, mainly due to the disposal of subsidiaries and the recovery of investments. The net cash flow generated from financing activities was negative 20.218 billion yuan, a year-on-year decrease of 48.83%. This was mainly due to the fact that the scale of financing in 2019 was smaller than that in 2018.

At the end of 2019, Wanda Commercial Management’s total assets were 575.211 billion yuan, a year-on-year decrease of 7.87%; total liabilities were 297.903 billion yuan, a year-on-year decrease of 17.15%; Net assets were 277.309 billion yuan, a year-on-year increase of 4.74%; net assets attributable to shareholders of the parent company were 264.151 billion yuan, a year-on-year increase of 7.46%; the asset-liability ratio was 51.79%. A decrease of 10.08% compared with the end of the previous year; the current ratio was 1.26, a decrease of 4.15% year-on-year; the quick ratio was 1.22, a year-on-year increase of 24.06%; the balance of cash and cash equivalents at the end of the period was 68.293 billion yuan, A year-on-year decrease of 11.72%.

Specifically, in terms of liabilities, Wanda Commercial Management’s short-term borrowings were 618 million yuan, a year-on-year decrease of 64.75%, mainly due to the repayment of borrowings. Accounts payable were 16.753 billion yuan, a year-on-year decrease of 51.71%, which was mainly due to the completion of sales property projects, payment of project fees, and the disposal of equity interests in some sales property companies. Advances received were 7.987 billion yuan, a year-on-year decrease of 82.54%. This was mainly due to the sale of properties and moving in, and the advance receipts from house sales were carried forward to income.

At the same time, Wanda Commercial Management’s other payables were 17.757 billion yuan, a year-on-year decrease of 35.1%. This was mainly due to the liquidation of land tax increases on sales of property projects. The original accrual based on liquidation standards has not yet been paid. The land tax increase is reduced. Non-current liabilities due within one year were 47.288 billion yuan, a year-on-year increase of 124.9%, mainly due to the increase in bonds payable due within one year. Long-term borrowings were 88.491 billion yuan, a year-on-year increase of 1.29%.

Bonds payable were 43.543 billion yuan, a year-on-year decrease of 44.63%, mainly due to reclassification to non-current liabilities due within one year.

Guandian Real Estate New Media learned that Wanda Commercial Management stated in the announcement that it will continue to increase the number and proportion of light asset projects opened in the future. It is expected that 40-50 plazas will be opened every year, among which Wanda will continue to open 40-50 plazas each year. Plaza is expected to be about 70% asset-light; it relies on corporate innovation to promote sustainable development and explores a consumption model that combines online and offline.

Guandian Real Estate New Media further learned that Wanda Commercial Management disclosed in the announcement that Wanda Commercial Management currently plans to implement or is implementing two acquisition plans.

First, the equity acquisition between Wanda Commercial Management and Wanda Real Estate Group Co., Ltd. In the acquisition of Wanda Real Estate Group Co., Ltd. or its subsidiaries, the Xining Beichuan project, Wuhan Xinzhou, Jiangmen Taishan, Hangzhou Fuyang, Lanzhou Wandamao, Shenyang Shenbei, Chifeng Songshan Wanda, Hengyang Wanda, Jiangmen Jianghai, Zhaoqing Dinghu, Mei 100% equity of the company that owns large commercial projects established after the separation of projects such as Zhou Renshou and Guangxi Wuzhou.

As of the end of March 2020, equity transactions for Jiangmen Taishan, Shenyang Shenbei, Meizhou Renshou, and Guangxi Wuzhou projects have been completed, and transactions for other projects are still in progress.

Second, Wanda Commercial Management has related transactions to acquire the equity of 10 commercial plaza project companies, involving a total payment of 7.881 billion yuan.

Specifically, Wanda Commercial Management intends to acquire Haikou Wanda Plaza Investment Co., Ltd. and Huzhou Wanda Plaza Investment Co., Ltd. held by Wanda Wenxin (Shanghai) Investment Partnership (Limited Partnership) and Kuaiqian (Tianjin) Financial Services Co., Ltd. Wanda Investment Co., Ltd., Lu'an Wanda Plaza Investment Co., Ltd., Foshan Sanshui Wanda Real Estate Co., Ltd., and Sanming Wanda Plaza Investment Co., Ltd. have 100% equity.

After consensus reached by both parties, the total amount payable for the acquisition of the above five companies was determined to be 3.994 billion yuan, including 1.863 billion yuan of equity transfer price and repayment of shareholder loans (including entrusted loans) The amount is 2.131 billion yuan.

At the same time, Wanda Commercial Management plans to acquire Binzhou Wanda Plaza Investment Co., Ltd. and Fuyang Yingquan Investment Co., Ltd. held by Tianjin Wanda Wenkang Enterprise Management Partnership (Limited Partnership) and Wanda (Shanghai) Equity Investment Fund Management Co., Ltd. Five companies, Wanda Plaza Investment Co., Ltd., Yantai Wanda Plaza Investment Co., Ltd., Lianyungang Wanda Plaza Investment Co., Ltd., and Yingkou Bayuquan Wanda Plaza Investment Co., Ltd., have 100% equity.

After consensus reached by both parties, the total amount payable for the acquisition of the five companies was determined to be 3.887 billion yuan, including the equity transfer price of 1.779 billion yuan and the amount of repayment of shareholder loans (including entrusted loans) 2.108 billion yuan.