Wang Sicong owes 150 million yuan to return. It turned out to be miserable by relatives.

Microsoft Wanda

shijieguanchaju· 2019-11-07 11:45:39

Wang Sicong was listed as the executor because of Puxi Capital’s 150 million debt Brushed the screen.

And in 2017, there was a very hot question on the Internet. If Wang Jianlin’s family declared bankruptcy, could Wang Sicong write a modern and full-fledged Dream of the Red Chamber?

Now how the father and son cracked the current crisis, in addition to the huge debtors of Wanda and Pusi, there are countless people who are waiting for an answer.

Puss Capital’s 150 million debt problem has not been resolved since May, because Wang Sicong did not dare to pay back, and there was no money to pay back.

Why doesn't he pay back the money, what secret story is there?

This article will tell you about Wang Sicong’s Central Bureau of Capital.


On November 4, Wang Sicong was second in Beijing The people's court is listed as the person to be executed, and the debt to be executed is about 150 million.

If you don't have money, this Wang Gongzi who is not bad money will be restricted to travel and other series of high consumption according to Lao Lai's treatment.

While everyone thinks that Wang Sicong is the son of the richest man, how could it not be a small target of 150 million in this district?

But the development of the facts may be beyond our expectation. Wang’s debt is not only 150 million, but 150 million is only the beginning. Even if he still has 150 million, he will have a bigger The hole is waiting for him to fill, can not be separated from the possibility of becoming old, there are still many variables.

In fact, Wang Sicong may not really have extra cash. Although he owns a number of companies and has more than 6 billion personal capital, these are stock bonds and real estate, the first son of Wang Sicong. If the cash is sufficient, how can it be tolerated because of the 150 million people, and many people who have been eaten by Sun Yuchen are ridiculed by this matter?

It seems that Wang Gongzi really encountered difficulties this time. Wang Sicong, the secretary of the Discipline Inspection Commission, who has always been famous for breaking the news, has always been a hot topic on Weibo. But now Wang Gongzi's Weibo is suspected to have been emptied. Wang Sicong, who frequently makes Weibo topics, has not sent Weibo for half a year. Compared with the previous guidance, it is really low-key.

While Wang Gongzi’s 150 million debts have not been repaid, it is not his own poor investment. The profit rate of Pusi Capital is second to none in the country. As of 2018, Pu Si Capital has invested 86 times since its establishment. The amount of project financing involved in the investment exceeded RMB 25 billion.

In the investment list of Pursue, the investment covers a wide range of industries including education, games, finance, culture and entertainment, with a total investment of 79 projects. According to the official website of the Zero2IPO Research Center, Puxi Capital's return on investment has been very profitable. In December 2018, it withdrew from Dreamworld and obtained a book return of 5.5 times. In May 2015, it withdrew from the pilot intelligence and obtained a book return of 72.83 times. ...

The successful investment has made Wang Gongzi's 5 billion yuan from the old man in 2009. In 2017, Wang Sicong personally reached 6.3 billion yuan in just 8 years. Personal assets The scale has increased by a factor of ten. In 2008, Wang Jianlin's personal wealth ranked 37th among China's top investors.

The wealthy Wang Gongzi is now being watched by the whole people because of 150 million. The real reason for this misery is actually that his relative, Wang Jianlin, has given up.

Everyone should remember that from 2017 to 2018, Wanda’s debt crisis was raging, Wanda sold blood to save lives, and some people who broke the news claimed that Wanda faced serious debt problems. The bank traced Wanda’s accounts and cleared Wanda’s bonds. The author even hinted that Wang Jianlin’s background has been paralyzed and political risks are about to detonate.

A moment ago, the media confessed that Wanda had dug up the corners of the national team in the Damascus project. Even the rigorous tiger sniffs wrote an article, "Don’t let Wang Jianlin run." Everyone thinks that Wanda is really going to finish.

However, regardless of Wanda’s failure, the debt is always paid back, and Wang Jianlin began to sell blood to save lives.

Wanda’s overseas investment amounted to RMB 250 billion, some industries sold at a low price, and foreign exchange lost assets reached US$30 billion;

Wanda’s investor confidence was exhausted and shareholders’ stocks plunged or Reduced holdings;

Wanda’s shareholders have been reduced from 44 to 23, and Shi Yuzhu has also withdrawn from the list of shareholders;

The stock market has been heavily reduced, and the real estate industry has directly dragged down Wanda;

The transfer of 13 cultural tourism projects and 77 hotels;

and the half-sell and half-send form, Wanda’s core assets of more than 80 billion worth of cultural tourism projects were sold to 60 billion yuan. Rongchuang. We can draw this conclusion with simple mathematics. We will not consider the assets of 76 hotels. We will simply divide the transaction amount by 63.2 billion and the area of ​​saleable land of about 50 million square meters of the cultural tourism project. The floor price is only 1270 yuan / square meter.

At that time, the price of first- and second-tier cities in China was not lower than 10,000 yuan per square meter, and the land cost of 10% or lower was worth. As for the 76 Wanda hotels, it is even more an asset.

and opened the equity of Wanda. In January 2018, Tencent joined Jingdong and Suning, and Sunac invested 34 billion yuan, acquiring approximately 14% of Wanda Commercial.

This leaves Wang Jianlin almost out of control of the entire Wanda Group Right, we must know that Wanda's business is divided into three parts, commercial real estate, film and television, and e-commerce, in addition to a number of Wanda industrial chain companies, as well as overseas companies acquired at that time.

After June 2017, Wanda saved money for selling blood, and overseas assets were sold at the price of cabbage. Wanda Electrics burned 10 billion yuan and did not burn anything at all. It was not worth the money. Wanda's most valuable commercial real estate travel project was sold to the company by the price of cabbage. The Wanda movie, which had a market value of more than 100 billion yuan, involved the project of Wanda Plaza, and no one took over and sold it.

At that time, Wanda’s disclosed debt reached 300 billion yuan, but after it was sold and sold, it only repaid short-term debts of less than 100 billion yuan, and nearly 200 billion yuan. The huge debt is on the head of Wang Shoufu.

How to solve these debts? It is absolutely impossible to rely on the normal sale of houses to repay debts. To solve this huge debt of 200 billion yuan, we can only use financial means to repay debts through complicated operations.

When the company sold assets at the end of the year, Wang Jianlin relied on the 60 billion yuan in cash for the sale of Wanda Commercial from the Hong Kong stock market in 16 years, completed the privatization, and turned to the valuation of real estate. High A shares.

After all, the real estate sector is likely to be undervalued in Hong Kong stocks. Wanda’s market capitalization in the Hong Kong stock market is lower than net assets. Wanda’s closing price before the market is HK$38.8, equivalent to a price-to-earnings ratio of only 4.62 times. “Low valuation "It’s horrifying." Wang Jianlin even prejudiced Wanda in the media bombarding the Hong Kong investment market.

When it is transferred back to the domestic market, relying on the A-share market to give companies a high valuation of dozens of times, and then using financial means to raise the speculation, Wanda’s market value will rise. At least a dozen times higher.

After pushing up Wanda’s stock market valuation, whether it is borrowing from a bank based on capital value or pledging the high Wanda equity to a bank, it is enough to solve the huge debt of hundreds of billions of Wanda’s scale, even Wanda The group can make a fortune.

There are a lot of Chinese companies doing this, and Wanda is just a kind of learning.

In March 2015, Stormwind successfully demolished the VIE structure and returned to the A-share market, deducting a myth of more than 30 daily limit. After being backed by Qixi Holdings for more than two months, Focus Media's share price soared from 13.68 yuan before the suspension to 62.34 yuan, soaring 356%. Giant's network backdoor century cruise ship stock price 5 daily limit .....

In 2015, Wanda Commercial realized a net profit of 30 billion yuan, estimated by the static P/E ratio of A. Lead Vanke 15.3 times (Wanke 2015 net profit 181 100 million yuan), Wanda's valuation should be 459 billion yuan.

Basic valuation of 459 billion, plus news Face-to-face hype, it is easy to make Wanda's market value more than 500 billion, or even 600 billion, and there are Wanda movies with market capitalization exceeding 100 billion. As long as the blood supply saves lives and the crisis of liquidity breaks, Wanda after listing Can solve all the problems and even buy the items that are sold out.

After doing the job, after selling tens of billions of cash in 2016, Wang Jianlin discussed with Wanda Group’s major investors, privatized Wanda Hong Kong shares, turned to A-share listing, and requested investment. People give him support.

To this end, he did not hesitate to sign a gambling agreement with many investors of Wanda Group. Wanda Commercial signed an agreement with investors. Wanda Commercial needs to be two years after the withdrawal of Hong Kong stocks or August 31, 2018. Recently listed on the mainland main board.

If Wanda returns to A shares, Dalian Wanda Group will pay up to HK$40 billion for share repurchase and pay 12% and 10% interest to overseas and domestic investors respectively. The total principal and interest will exceed 30 billion. Yuan Renminbi.

The amount of this interest is about HK$7 billion. Once Wanda fails to go public, the total amount that needs to be paid to investors is close to 60 billion.

The old king’s chest is very good, but unfortunately the world is not as good as it is. Wanda, which is listed in the A-share market in September 18, is still lined up in the IPO, and has been in the queue for three years, according to June. According to the information released by the China Securities Regulatory Commission, Wanda Commercial Real Estate is still under review and the listing is nowhere in sight.

The house leaks in the rain, 18 years later The global debt problem caused the economic winter, the bond market was deserted, and Wanda’s bond issue also encountered problems. The domestic real estate market has entered a period of recession, and the price of some cities has declined, which has caused Wanda’s bond valuation to be further reduced. This has caused the value of the pledge of Wanda’s mortgage loan to decrease. In order to guarantee the loan, Pharaoh has to add more mortgages. .

Wanda, which can be sold and sold in succession, how many valuable assets are there? In addition to commercial real estate, Wanda's Wanda movie with a domestic market value of more than 100 billion has shrunk by more than 70% in just a few years, and the market value of 100 billion is now only over 30 billion.

On the one hand, the interest on debts is getting higher and higher, the loan issuance of debts is getting harder and harder, and the margin of mortgages is increasing. The valuation of assets in hand is greatly reduced, and the listing of A shares is nowhere in sight. With the arrival of the medium and long-term debt repayment date, Pharaoh’s pressure is getting bigger and bigger....

The tiger brothers, the father and son soldiers, the father’s debt is still very marketable in China. And how can Wang Gongzi have the heart to see the bankruptcy of his relatives, and the endings are like those who are dead-end entrepreneurs?

Impossible, Wang Gongzi definitely does not want to see such a situation.

So in the past two years, he has been using Puss Capital and his own money to secretly support Wanda’s company, fully resolve Wanda’s debt crisis, and quietly buy stocks of Wanda’s stock in the capital market. plate.

Pruss Capital has earned a lot of money in these years. Only Wang Sicong’s shares are valued from 500 million to 6 billion. If you count all the shares of the company, The valuation should be higher, so that it will not be able to afford 150 million debts, but will be frozen 100% of the capital of Pusi Capital?

It’s really that Wang Gongzi has no money in his hands, and he doesn’t dare to pay back, so he will watch the panda live broadcast that he founded....

Why does Wang Sicong dare to pay back?

If you follow Pu Si’s investment performance, and Wang Sicong’s extravagant style, and then poor, 150 million is still alive, why has it not been paid off from May to now?

Because Wang Sicong did not dare to do this, Pu Si’s massive investment in Wanda’s company became a share of Wanda’s company or a series of Wanda’s debts. If Purs Capital sells these investments in Wanda, and the cash in hand, it is absolutely no problem to pay off the 150 million debt.

But this way, Wanda, which has been overwhelmed by the debt crisis, is likely to be sold by Wang Sicong and become an avalanche of Wanda.

When Wang Sicong is concerned, Wanda is more important than Puxi Capital. So when the Panda live broadcast collapsed, everyone wondered why Wang Sicong refused to save the panda live broadcast. Even the panda’s live broadcast of the news of the arrears of the anchor was due to Wang Sicong. In the full effort of Wanda, this time it is likely that he will still adopt a procrastination strategy, resolutely not selling Wanda’s stock and not paying debts.

So Wang Jianlin came to pay the money? After all, in May, the capital of Pusi Capital was all pledged to Wanda, and Lao Wang also said the money.

But the time has passed five months, and Wang Jianlin has not solved the debt because he knows that if he pays the debt, he will fall into the trap of some opponents, and there will be a large number of Wanda’s debtor went to the door to collect debts, and when Wanda’s cash flow was consumed, the entire Wanda was finished.

And for Pusi Capital to pay the money, Pu Si’s support relationship with Wanda will be dug up. Perhaps there are still some big pits in Push, and it is urgently hoped that Wanda will be reversed. How can the old man of fate, at this key point, let Wanda encounter any negative news and influence Wanda’s listing plan?

If Xiao Wang’s capital means high, this time Everything that has value is already transferred to other places by various kinds of Qiankun. If you don’t pay back the money, the last thing will be bankruptcy and liquidation. It will also get an empty shell, forcing the implementation of Puth, and it is definitely not him.

And the debtor of the money reached an understanding, let the debt delay, wait for Wanda to slow down this meeting, and then pay this debt plus interest, it is likely that Wang Gongzi responded this time.

But the abacus is good, but the specific operation, Wang Gongzi may have to face various difficulties.

While Puxi Capital shows that it is 100% owned by Wang Gongzi, but this kind of investment private placement, how can it be only the funds of Wang Gongzi’s family, it is necessary to melt money everywhere and manage other investors to invest in Pusi Capital funds.

Investors now see the money thrown in by Wang Gongzi’s investment myth, and now it has shrunk dramatically, and even these investments have become the various shares of Wanda’s company, so that those investors think ?

So 150 million is only the beginning. Once the investment of Purs began to ask for redemption, then it was the end of Wang Gongzi’s real headache.

If many of Purs’s investors pay for it when they are due, and the son can’t get the money, the problem is not debt, illegal fundraising, or scam on the board. .

In 2017, there was a very hot question on the Internet. If Wang Jianlin’s family declared bankruptcy, could Wang Sicong write a modern and full-fledged Dream of the Red Chamber?

Now how the father and son cracked the current crisis, in addition to the huge debtors of Wanda and Pusi, there are countless people who are waiting for an answer.

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