万达所持94亿股权被冻结，大手笔“卖广场”后仍需解决根源问题

Group 1 - The core issue for Wanda Group is the continuous occurrence of equity freezes, with recent cases involving over 9.4 billion yuan in frozen shares for its subsidiaries [2] - As of now, Wanda Group has a total of 37 equity freeze records, indicating a significant debt issue linked to overdue obligations [2][3] - The company faces a cash flow challenge, with short-term debts exceeding 43.9 billion yuan and cash reserves only at 15.1 billion yuan, necessitating reliance on refinancing [3] Group 2 - The recent equity freezes are largely attributed to a "betting agreement" signed during pre-IPO financing, which requires Wanda to buy back shares at an 8% annual interest if it fails to go public by the end of 2023 [3] - To address its financial situation, Wanda is selling assets to generate cash, with a recent transaction involving the establishment of a private equity fund with a total investment of 22.43 billion yuan [3][4] - The asset sales aim to provide immediate cash for repaying domestic and foreign debts while allowing Wanda to retain operational control, aligning with its strategy of transitioning to a "light asset" model [4]