2 1 Shi Ji Jing Ji Bao Dao·2025-08-25 11:16Core Viewpoint - Tencent and JD.com are collaborating with Wanda Group to establish multiple investment funds, with registered capital ranging from 8 billion to over 20 billion yuan, indicating a strategic move into the commercial real estate sector [1][3]. Group 1: Investment Funds - On August 25, the Suzhou Kuanyu Equity Investment Fund Partnership was established with a capital contribution of approximately 22.43 billion yuan, focusing on private equity investment and asset management [1]. - The fund has 13 partners, including Tencent's Shenzhen Xiaoshu Commercial Management Co., JD.com's Beijing Panda Commercial Management Co., and Wanda's Beijing Hangrun Enterprise Management Development Co., with Tencent's two companies holding about 44.04% and JD.com holding 22.20% [3]. - Another fund, Shenzhen Zhishu Investment Partnership, was established on August 20 with a registered capital of approximately 16.08 billion yuan, involving Tencent, Wanda, and Sogou [3][5]. Group 2: Management Consulting Company - JD.com and Wanda have jointly established the Beijing Hongrui Panda Management Consulting Partnership with a capital of 8.05 billion yuan, focusing on enterprise management consulting and information technology services [5][7]. - The ownership structure shows Wanda holding approximately 54.97% indirectly, while JD.com holds about 45% [7].