Reported about 1 year ago
Wang Jianlin, the founder of China's Wanda Group, continues to sell assets to alleviate the financial pressure facing Wanda. Reports indicate that since 2023, Wanda has sold at least 24 Wanda Plazas, including recent sales of Yantai Zhifu Wanda Plaza and Yichun Wanda Plaza. Facing financial crisis, Wanda has been selling off most of its cultural tourism and hotel assets, but the financial pressure remains high. Insights suggest that while reducing asset ownership decreases financial risk, the remaining assets, especially shopping centers in third and fourth-tier cities, may not be performing well operationally, posing pressure if they still carry liabilities.
Source: YAHOO