Wanda buys an important step in the transformation of fast money, the road is far away

December 26, Wanda Group announced the strategic holding of third party to pay the company fast money, in the transformation of the road has taken another important step.

3 days ago, Wanda Group's main business property has just listed in Hong Kong, financing 28.8 billion Hong Kong dollar, the Hong Kong stock market for three years the largest IPO record. Plus AMC Hospital line, Wanda Hotel, Wanda Group's listed companies currently have 3, and the 4th-Wanda Hospital line in a shares of the IPO has been approved, the date of the listing is around the corner.

However, Complacent's Wang is not without a sense of crisis. Two years ago, he and Mr Ma set up a "billion bet", do not believe that 10 years after the electricity business will be accounted for the Chinese retail market share of 50%. Two years later, with Alibaba listed, Mr Ma formally replaced him as the richest man in mainland China.

Times are alternating, new industries are rising and old industries are fading. Wang know the importance of "homeopathy", he once said a word-"do enterprises must conform to the direction of national construction, by the potential of national development can be more effective." "The best business model in the world is the country," said Mr Ma.

Acquisition of Fast disappearing is Wang Non-stop chasing Ma's important step. Before, August 29, Wanda Group also joined Baidu, Tencent set up Wanda E-commerce Company, was dubbed the outside world is to fight Ma Yun's "landlord."

Wang continued to claim that Wanda from a commercial real estate for the main business of the group transformation into a culture, tourism, finance, electric business, the four strategies simultaneously integrated. He knew that he wanted to be evergreen, and Wanda had to catch the pulse of the Internet.

But the transition is no joke. Wanda relies on the internet to build new growth points and to tap the potential value of existing assets, which is no doubt a trend. But for a company that has a 26-year-old history, it is a challenge to innovate a deep-rooted corporate culture, break the shackles of existing institutions and attract talented outsiders.

The acquisition of quick money, complete in the Electronic Payment link layout, is only one step in the transformation of Wanda. The longer, more difficult road, still waiting for Wang to trek.

Why the transformation of Wanda

The growing pressure of the main industry, the Internet forces are approaching, so that Wanda had to transition. It is worth Wang Fortunately, Wanda "to sell the rent", the commercial real estate as the core operation of the idea, online on-line under the integration of the era, a lot of innovation space.

2011, 2012, 2013, Wanda commercial real estate revenues were 50.8 billion, 59.1 billion, 86.8 billion. Most of the revenue comes from property development and sales, and the revenue from Marriott's property leasing and management is still low. At present, the country has 159 Wanda Plaza, 2013 All Wanda Plaza contribution rental income of 8.483 billion yuan, accounting for less than the total revenue of 10%. This means that Wanda's ability to rely on leasing for its own hematopoiesis is not strong enough to sustain growth, and it depends on the macroeconomic trends and the intensity of government regulation.

In terms of funding, the prospectus shows that in the first half of 2014, Wanda's commercial real estate accounts for 144.9 billion, banks borrowed $172.4 billion, and a further $7.3 billion in outstanding debt. The funding gap for its construction is also huge. In the long run, under the trend of slowing growth of real estate industry, Wanda wants to reduce capital risk, revitalize existing resources and make good use of Internet concepts and tools.

As we all know, Wanda's "Rent-only" model in its core assets allows it to enjoy a property appreciation. At the same time, Wanda has long been formed with the arrival of the close cooperation between the Merchant is also its important wealth. But in the Internet companies have come to the line, want to take advantage of group buying, discount, mobile payment and other means Ott Wanda, Rob merchants and user data background, on the one hand, the appreciation of the real state of the pressure increase, the structure of the industry face adjustment, on the other hand, there is a benefit cake by the public comments, Alipay, Micro-letters and other internet giants are taking a risk.

Wanda has always focused on the operation of commercial real estate, and mobile Internet is the best auxiliary tool. Because Wanda Square is everywhere, it contains a wide range of industries, so it has a natural platform properties, very easy to form a network. In short, do not transform, do not do the Internet, Wanda is sitting ducks. But the transformation can play both advantages, deepen the operation, for the value of assets at the same time, but also around the merchant and user needs to open up new profit points. Wang There is really no reason not to change.

The acquisition of quick money to make up an important link

We are usually used to call Alibaba "online commercial real Estate". Compared with Wanda's offline commercial real estate, Taobao and the cat do not have physical boundaries, add a new shop only need to create a few pages. But for Wanda, the operational physical space is relatively limited, how to reasonably plan the business situation, attract high-quality businesses to settle in and let the consumer satisfaction, may be Wang more concerned about. Moreover, each Wanda Square's radiation range is relatively limited, the target population is more fixed. Therefore, Wanda play the Internet (Electric Business + finance), will certainly not put the focus on the new this to flow for all the Internet game. On the contrary, Wanda will strive to tap into the existing business and user values, with their focus, using the Internet to innovate the service model and create profit points.

In the merchant side, Wang can learn Ma Yun, to the settled merchant to provide a unified logistics services, supply chain loans, settlement services, member management services and so on. In the past, Wanda and the merchant is a simple rental and rent relationship, but under the concept of the Internet, Wanda will become the service side, from the capital flow, information flow, logistics and other aspects of the business to provide services, and profit from it. Theoretically, this model has almost no ceiling.

And in the client, Wang claimed to launch a more convenient, faster, more useful card, in the National Wanda Plaza, hotels, resorts consumption, and even purchase can be used. In addition to consumption, a card will also have discounts, points, lottery, value-added services and so on.

Wanda claimed that its national passenger traffic was as high as 1.5 billion in 2014. If the card is for all the users, and to ensure the active degree, then the resulting accumulation of funds and repeat the consumption scale will be very considerable. For the lack of money Wanda, the funds can also be used to supplement the main business of the investment needs. However, the key to staying attractive on the client side is the extent to which Wanda can improve the user experience.

In fact, users may not need a physical card at all, and just one app or micro-service number is sufficient. If all the booking, consumption and evaluation can be done quickly with mobile phone in Wanda, even can enjoy the same personal financial service, travel vehicle service and so on, such as Jingdong "IOU", then the energy of Wanda Electric Trader + financial eruption will be bigger.

Of course, the Wang who have ambitions and are prepared to do so will not give their fate to others. Just as Liu abandoned Alipay and bought online, Wang also needed an enterprise that could provide electronic payment and supply chain financial services. Therefore, the cooperation of Wanda and the fast money is not surprising.

In terms of iris data, 2014Q3, China's third party internet payment transactions in the size of the share, Alipay accounted for 49.2%, Tenpay accounted for 19.4%, UnionPay business accounted for 11.6%, fast money accounted for 6.9%, ranked fourth. Compared with Tenpay, Alipay and other rivals, the fast money in the mobile internet era trend is not optimistic. Tenpay has micro-letter to do the backer, Alipay is growing in Alibaba's electric business, but the fast money itself lack of payment scene, so can only provide business-to-business services to businesses, the scale of growth is weak, in the payment industry increasingly marginalized. But partnering with Wanda will get a lot of payment scenarios and financial service clients.

Therefore, for the fast money and Wanda, cooperation is undoubtedly a win.

The road to transition just opened

Prior to that, Wanda E-commerce company claimed to be with Tencent, Baidu in the account system to get through, membership system, payment and Internet financial products, the establishment of General Integration Alliance, large data fusion, WiFi sharing, product integration, flow introduction and other aspects of cooperation. What's the progress?

Wang recently claimed to be working on a large data center that could be put into operation as soon as next July. In addition, there are about dozens of software being developed. "Our assumption is that by next year's three quarter, [O2O platform] in the country officially full online." ”

And in the financial aspect, Wanda will register Wanda Financial Group, by Investment Management company, finance company, Capital Management Center three big business module constitute. The company is responsible for all holdings, equity and financial investments in the future. Fast money is likely to belong to Wanda Financial Group.

Of course, such a grand plan would be challenging and the reality would not be as smooth as expected. So what are the problems that Wang may face on the road of transformation?

First of all, in the corporate culture and system, Wanda used to have a real estate gene, after all, the company has 26 years of development history. Traditional industries generally emphasize obedience and implementation, but in the Internet industry more emphasis on creativity and innovation. Wanda wants to create excellent O2O products, we must be vigilant to the existing culture of new companies, new business infiltration, so as to avoid stifling its innovative ability.

Secondly, in the field of talent introduction, Wanda also has a lot to do. The former Wanda Electric Business COO Mahaiping, the former Wanda Electric COO Liu Sijun, the former CEO of Wanda Electric chief executive Yi Yitao has left, in the industry caused a lot of repercussions, the outside world has a lot of voices think Wanda too traditional, do O2O difficult to succeed. Where is the root? Wang need to think about it.

Finally, as Wanda Group of the helm, Wang himself the most important internet. The renewal rapid of the Internet product form, as Wanda's highest decision maker, whether Wang can keep up with the times (or whether constructed can take over in time) also deeply affects the future of Wanda transformation.

In any case, after the two big strides of electric business and finance, Wanda has embarked on a long road of transformation. The future of the sinister and beautiful, are waiting for Wang to experience.

Wanda will be the next suning, Wang will not go back to the old Jindong, we wait and see.