Wanda went to real estate to accelerate the layout of emerging industries and medical care.

Recently, the latest results released by Wanda Group show that in 216, Wanda Group's service industry revenue accounted for 55%, surpassing real estate revenue for the first time in history. At the same time, Wanda Commercial expects the net profit of leasing business to account for more than 5%. Wang Jianlin, chairman of Wanda Group, said that Wanda achieved the goal of transformation stage one year ahead of schedule.

"Although real estate is very profitable, the cash flow of real estate is unsustainable and unstable, and we need to transform." Recently, Wang Jianlin said in the special dialogue session of the 47th Davos Forum that Wanda would "de-real estate" and develop into tourism, sports and entertainment.

Firmly "de-real estate"

After only two years of transformation, real estate that only relies on "selling houses" is no longer the guest of the richest man. According to the data disclosed by Wanda, in 216, according to the real estate contract income, Wanda Group's income decreased by 13.9% year-on-year due to the initiative to reduce real estate income by 6 billion yuan. From the perspective of net profit, the proportion of real estate net profit has been less than 5%.

As for the reason of "de-real estate", Wang Jianlin pointed out that on the one hand, the valuation of real estate is relatively low, on the other hand, the cash flow of real estate is unsustainable and unstable, which is not a long-lived industry.

In fact, as of December 31, 216, Wanda Group's assets reached 796.1 billion yuan, a year-on-year increase of 21.4%. Among them, the annual operating income in 216 was 254.98 billion yuan, accounting for 13.2% of the annual plan, with a year-on-year increase of 3.4%. However, it is worth noting that, according to the real estate contract income, Wanda Group's income decreased by 13.9% year-on-year due to the initiative to reduce real estate income by 6 billion yuan.

specifically, in 216, Wanda's commercial income was 143.2 billion yuan, 1.4% of the annual plan was completed, with a year-on-year decrease of 25%, and its net profit increased year-on-year. In that year, Wanda newly opened 5 wanda plaza, 2 Wanda Mao, 18 hotels and 6,333 guest rooms. The newly held property area is 6 million square meters, and the accumulated property area is 32.33 million square meters. Among them, 21 of the newly opened wanda plaza are light assets, accounting for 42% of the total number of businesses.

It is reported that Wanda Light Assets has a "cooperative wanda plaza", that is, the other party pays for the land, Wanda is responsible for the design, construction guidance and investment operation, and the net rent is divided between the two parties. There is also an investment class, wanda plaza. In the fourth quarter of 216, Wanda Commercial signed 9 wanda plaza contracts with CITIC Trust, Minsheng Trust and R&F Group, with an investment contract of 15 billion yuan. From 217 to 219, 3 wanda plaza will be delivered to investors every year, and the net rent will be divided between the two parties.

Wang Jianlin said that Wanda Group began to implement the fourth transformation since its establishment in 214, from a real estate-oriented enterprise to a modern service-oriented enterprise. As a result of the transformation, Wanda's commercial rents have increased substantially. In 216, Wanda's commercial rental income was 19.58 billion yuan, 12.3% of the planned revenue, up 29.6% year-on-year. Because of the rapid growth of rent and high profit rate of rent, Wanda Commercial has achieved net profit growth while its income has dropped by a quarter.

"Therefore, from the current point of view, Wanda's transformation has been basically successful. Wanda Group and Wanda Commercial are no longer real estate enterprises. " Wang Jianlin said.

Emerging industries have sprung up

In fact, from the current point of view, although it is still difficult for Wanda to get rid of real estate, from the current point of view, Wanda's fastest growth is emerging industries.

data show that in 216, Wanda Group's operating income was 254.98 billion yuan, of which film industry income was 39.19 billion yuan, up 31.4% year-on-year, and sports industry income was 6.4 billion yuan, up 9% year-on-year. The income of the tourism industry was 17.43 billion yuan, 1% of the annual plan was completed, with a year-on-year increase of 37.1%. The income of the sports industry was 6.4 billion yuan, 98% of the annual plan was completed, with a year-on-year increase of 9%; Children's entertainment income was 52 million yuan, accounting for 13.4% of the annual plan, up 137.8% year-on-year; Wanda Financial Group's revenue was 21.35 billion yuan, accounting for 127.7% of the annual plan.

Wang Jianlin proposed to explore the possibility of global film distribution, break the monopoly of Hollywood's "Big Six" film companies and enhance Wanda's core competitiveness in the film industry. Wang Jianlin said that the "Big Six" Hollywood film companies (Paramount, Universal, 2th Century Fox, Warner Bros., Columbia and Disney) made less than half of their own films last year, but they swept 85% of the global box office. The reason is that they monopolized the global film distribution channels, which will be the next direction of Wanda's film globalization.

Wang Jianlin proposed that by 22, WANDA CINEMAS should achieve the goal of net profit of 1 billion yuan and occupy 2% of the global market share.

meanwhile, in sports, Wanda's sports industry earned 6.4 billion yuan, up 9% year-on-year. At present, Wanda Sports has become one of the largest sports companies in the world, and has become the exclusive business partner of more than 1 world sports organizations such as FIFA and FIBA in the world or China, and operates more than 2 sports such as football, ice and snow, cycling, basketball and triathlon in more than 2 countries around the world.

Investing in the medical industry

Wang Jianlin, chairman of Wanda Group, said at the Davos Forum that he was considering becoming a chain hospital.

He said that medical care in China used to be exclusive to the government. It was opened to private enterprises a year ago, allowing private enterprises to set up comprehensive hospitals and allowing foreign doctors to practice in China. Just a few months ago, there was another rule that doctors in hospitals can also make private visits by themselves and go outside to see a doctor to increase their income, so these are great changes and provide conditions for the development of private hospitals.

Wang Jianlin believes that this provides conditions for the development of private hospitals. Wanda's biggest advantage is hundreds of large commercial centers and construction teams, so it has the ability to develop in the medical field and is thinking about whether to enter the health industry.

In fact, as early as January 6th, 216, Wanda Group signed a cooperation agreement with IHG in Beijing. Wanda will invest a total of 15 billion yuan to build three comprehensive international hospitals in Shanghai, Chengdu and Qingdao, which will be operated and managed by IHG and use the brand of IHG (Chinese name is "Yingci Wanda International Hospital"). This is the largest investment of China enterprises in the medical industry, and it is also the first time that IHG has operated and managed a hospital project in China.

It is reported that all three hospitals are designed and built according to the top international standards, and IHG will ensure that the operations of the three hospitals pass the accreditation of international medical institutions such as JCI (Joint Committee on Accreditation of International Medical and Health Institutions). Among them, Shanghai Yingci Wanda International Hospital has 1 beds with an investment of 8 billion yuan; Chengdu Yingci Wanda International Hospital has 5 beds with an investment of 5 billion yuan. Qingdao Yingci Wanda International Hospital has 2 beds with an investment of 2 billion yuan.

Wang Jianlin believes that the introduction of top-level comprehensive international hospitals is Wanda's innovation in China, which not only meets the needs of high-end people for health care, but also makes the medical level in the city reach the international first-class, and promotes the high-end medical level in China.

(The above answer was issued on February 3, 217, and the current relevant purchase policy should be based on the actual situation)

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