万达真的没钱了!出售商场酒店的计划浮出水面|日经亚洲 & 财新

  • 中国房地产企业集团大连万达集团正在考虑出售其部分购物中心和酒店资产,以增加流动性。上海的万达外滩源酒店是正在讨论出售的资产之一,复星集团是一个潜在的买家。DWCM也在考虑出售上海、南京、无锡和常州的几个购物中心。

  • 这些资产的出售正在被考虑,因为人们对DWCM寻求已久的股份出售计划的猜测上升了。该公司自2015年以来一直试图将其商业地产管理业务在A股市场上市,最近转向寻求轻资产单位珠海万达商业管理集团在香港上市。该申请于2021年10月提交,并两次续期,但后来过期了。监管机构对DWCM的财务数据披露表示担忧,要求珠海万达提供更详细的业务数据和信息。

  • 珠海万达出售股份的前景不确定,引起了投资者对DWCM财务健康的担忧,导致标普全球评级和惠誉评级等全球评级机构下调评级。如果在2023年底前不能实现上市,大华机械将不得不归还资金,并支付预先商定的回报,其金额可能高达400亿元。

  • Dalian Wanda Group, a Chinese real estate conglomerate, is considering selling some of its shopping mall and hotel assets to increase liquidity. Wanda Reign on the Bund, a hotel in Shanghai, is one of the assets being discussed for sale and Fosun Group is a potential buyer. DWCM is also considering selling several shopping malls in Shanghai, Nanjing, Wuxi and Changzhou.

  • The sale of these assets is being considered as speculation rises regarding DWCM’s long-sought share sale plan. The company has tried to list its commercial property management business on the A-share market since 2015 and recently shifted to seeking a flotation of light-asset unit Zhuhai Wanda Commercial Management Group in Hong Kong. The application was submitted in October 2021 and renewed twice, but has since expired. Regulators have expressed concerns over DWCM’s financial data disclosure and have required Zhuhai Wanda to provide more detailed business data and information.

  • The uncertain prospects for Zhuhai Wanda’s share sale has caused investor concerns over DWCM’s financial health, resulting in downgrades from global ratings agencies such as S&P Global Ratings and Fitch Ratings. If the listing does not happen by the end of 2023, DWCM will have to return funding and pay pre-agreed returns which could amount to as much as 40 billion yuan.