Wanda holding fast money, $315 million towards asset light mode

from tencent technology, the author jian-ping lei

the past 1 years, wanda group to the Internet in the rapid transformation, not only set up a joint venture with tencent, baidu, quick and m&a. Wanda group chairman wang jianlin, has revealed that wanda electrical business strategy at the annual meeting of the company.
Said wang jianlin, wanda electrical business made a good start, mainly reflected in three aspects:
1, combination. Last September, wanda, electricity corporation joint venture with baidu, tencent, China’s Internet BAT three giants, basic not cooperation between each other before, because of bullish on wanda, tencent and baidu investment cooperation.
2, electricity core talent team have been built, several chief scientist is in talks to introduce; Wanda plaza 103 WIFI infrastructure complete, chengdu cloud data center has commenced, 15 wanda plaza, product research and development for comprehensive wisdom;
Wanda electrical ShangChengLi less than half a year to develop active member 43.5 million people, overfulfilled development 30 million members of the target.
3, quick. At the end of 2014, wanda for $315 million to buy a 68.7% stake in quick, make e-commerce must have their own payment system, acquisition of quick for wanda e-commerce ecosystem formation to lay the solid foundation.
wanda going light assets mode
Wang jianlin, according to company development is facing the fourth transition, transformation of wanda group is divided into two aspects, seen from space, from China’s transformation into a multinational enterprise; From the content point of view, is given priority to with real estate enterprise transformation for service enterprises.
The development goal of wanda has announced that by 2020, assets of 1 trillion yuan, 600 billion yuan, net profit of 60 billion yuan, to become the world first-class multinational companies. Two specific transformation goal set at the same time, it is 2020 group services revenue, net income accounts for more than 65%, real estate sales income, net profit accounted for less than 35%; The second is foreign income accounts for more than 20% in 2020.
Wanda commercial real estate will be a new development mode in the future, at the same time to speed up the development of cultural tourism, e-commerce, financial industry three industry, formed by 2020 business, tour, finance, electricity in a four plates, thoroughly implement the transformation and upgrading.
Mr Wang said, don’t think transformation is group, commercial real estate has itself to new transformation.
1, push asset light mode. Wanda past success depends on urban context, building a wanda plaza, next to PeiJian used to sell some of the apartments, office buildings, shops, through generates cash flow to invest in real estate sales wanda square, it is heavy asset model.
2, now wanda will push a asset light mode, is wanda plaza design, construction, investment, operations, hui cloud system, e-commerce system were made by wanda yourself, use wanda plaza brand, but all investments made by others, assets owned by the investor.
This model there is no real estate sales, financial investment behavior, wanda and investors into from the net rental income. The advantages of this model is without any real estate sales, rental income, enterprise development is not affected by the real estate situation, high and low prices, it’s the economic cycle is pressed, the income is more stable.
Wang jianlin said wanda, now and four agencies signed a $24 billion 26 wanda plaza investment agreement, also with many investment Banks, insurance and funds at home and abroad to negotiate, I asked in 2015 to ensure that the wanda plaza, 63 light assets investment contracts.
That is to say, will open in 2016, 23, 40 light assets wanda plaza, which opened in 2017 after contract signed, 30 billion cash within the year. Asset light pattern after the launch, wanda commercial real estate will be on the development road of “weight simultaneously”.
26 wanda plaza, which opened in the original plan this year, has been under construction, cannot change to asset light mode, wanda square number remains the same, which opened this year, next year year opened more than 50 wanda square, target has opened more than 380 by 2020.
If 2020 goals, even by wanda square average passenger flow eighty percent last year, every year total passengers will also be more than 6 billion passenger flow; If everybody around 20 times a year wanda plaza, is 300 million. Wanda will become the world’s largest offline consumer platform.
Wang jianlin, points out that when wanda form such a large platform for the offline consumption, plus O2O e-commerce mode, no one could compete with us. In the past some people say that wanda commercial real estate is dig a moat for the enterprise, the moat will be deeper and wider in the future.
Mr Wang said that since 2015, wanda entered into with the enterprise brand, business resources, professional ability to make a lot of money, this is the result of years of accumulation. Heavy assets mode cannot throw in recent years, asset light mode for a few years later, once the rent into ideal income, wanda will give priority to with light assets mode in the future.
do big pay scale Set up financial group, wanda
Wang jianlin was noted at the annual meeting of the wanda wanda electric future business development, there are several main aspects:
October 1, ensure that cloud computing center in chengdu before completion, support electricity nationwide network operation.
2, do a good job in technology research and development. In 2015 completed the identified 15 wisdom product research and development, and to develop more technology research and development target in the next three years. Wanda do O2O, have been offline resources, online technology, the key is to study how to do it better.
3, do pay scale. Provide support to the fast development of wanda group, wanda commercial electricity not only quick pay, wanda plaza businessman also want to use, a business to a company to talk, to mobilize their use easy money.
Mr Wang believes that quick main development direction is not pay scale, but the Internet financial. To study introduced a whole set of plans, provide great strength support.
4, wanda electrical business basic mature, want to consider to open to the society, strive to make it an open platform level electrical contractor. We do first three years, after the success, just like other shopping centers, department stores, movie theaters, catering businesses to talk about cooperation.
Wang jianlin, points out that wanda electrical contractor’s hand has huge offline platform, hundreds of millions of members, if you want to join, wanda pay for data center, network transformation.
5, strengthen the Internet thinking. This is wanda to all leaders, especially, vice President of magnitude of leadership, thinking there must be the Internet. Management should have the courage to embrace the Internet, not just the Internet as a tool.
Wanda group layout of electricity, but also to develop the Internet banking business. Wang jianlin disclosed some strategies:
1, wanda financial group was established in the first quarter of 2015, the registered capital of 10 billion yuan, set to 2020 development plan.
2, and 1 to 2 years m&a financial companies, set up the framework of financial group.
3, to Internet financial direction, not to open stores, head of the traditional model.
4, make full use of their own advantages. Is a big data advantage, wanda electrical daqo data is different from general electric company, many people buy a few months to get to the Internet, can’t fully capture consumer data.
Wang jianlin, wanda electricity members most people several times a month to wanda consumption, not only the shopping, and watching movies, eating, singing and other consumption, more comprehensive data, can master basic customer spending power.
“Wanda electrical business membership development goals is $1 this year, after a few years there will be hundreds of millions of active member, hundreds of thousands of chain stores. Wanda Internet financial should make full use of this advantage, it can do this part of personal and business financial products is very good.”
Mr Wang also said that in 2015 the economic situation is still severe, the economic growth is likely to continue to slow, in this case, hope all colleagues of the wanda joint efforts, determined to finish the year all my goals.