Wang said that the fourth time the transformation scope of Wanda is broader and more forceful

Wang said that the fourth time the transformation scope of Wanda is broader and more forceful.

"Compared to the first three transitions, the fourth time the scope of the transition is broader and more forceful, which represents the new transformation and upgrading of the future development direction of Wanda." "At the Wanda Group's 2014-year meeting, Wanda Group chairman Wang, in addition to announcing various achievements, highlighted the fourth transition of Wanda.

Wang introduced that the transformation of Wanda Group from the perspective of the space is from Chinese enterprises to multinational enterprises, from the content of the real estate from the Enterprise transformation to service-oriented enterprises. He said that by 2020, Wanda's development goal is 1 trillion yuan of assets, income of 600 billion yuan, net profit of 60 billion yuan, become world-class multinational enterprises. At the same time, it also identified two transition targets, the 2020 group service revenue, net profit accounted for more than 65%, real estate sales, net profit accounted for less than 35%, overseas income accounted for more than 20%. Wanda's real estate in the future to implement a new development model, at the same time accelerate the development of cultural tourism, finance, E-commerce 3 industries, by 2020 to form a commercial, literary brigade, finance, electricity quotient basic equivalent of the four major sectors, complete transformation and upgrading.

"The Transformation of Wanda commercial real estate is more and more innovative, which is mainly driven by the" light assets "model. Wang explained that in the past Wanda had successfully relied on the city complex to invest in Wanda Plaza through real estate sales cash flow. The light asset model is Wanda Plaza construction, investment, operation, E-commerce, etc. are made by Wanda, but all the investment by others out, assets to investors, "this model is not real estate sales, is quasi-financial investment behavior, Wanda and investors from the net rent income, divided into, Neither the change in house prices nor the market cycle has had much impact on this development model. Wanda's goal is to increase the net profit ratio of rent every year. ”

In the last more than 20 years, Wanda has undergone three transformations, the first of which is the transition from Dalian in 1993, and the transformation of Wanda from local enterprises to national enterprises; The second transition is 2000, from residential to commercial real estate; The third transition is from 2006 onwards, the large-scale march into the cultural tourism industry, Make Wanda from a single real estate enterprise developed into a comprehensive enterprise group.

(Source: Beijing Morning Post)