Core Viewpoint - Wang Jianlin is determined to sell off assets amid liquidity crisis, with Wanda Plaza being a core focus of these sales [3][4] Group 1: Asset Sales and Financial Strategy - Wanda Commercial Management Group is selling 48 Wanda Plaza locations to a consortium including Tencent and other firms, with the transaction reportedly valued at 50 billion yuan [3][4] - Over the past two years, Wang Jianlin has sold more than 30 Wanda Plazas, with a strategy to shift from heavy asset burdens to a focus on commercial management services [4][12] - The sales are primarily concentrated in first-tier and new first-tier cities, where the asset values are higher, allowing for quicker cash recovery to alleviate debt pressure [11][12] Group 2: Market Positioning and Consumer Trends - Despite the competitive landscape in first-tier cities, Wanda Plazas maintain a strong presence in lower-tier cities, where they are considered top-tier commercial entities [8][11] - The operational costs in lower-tier cities are lower, making them potentially more profitable despite lower rental yields [11][12] - Recent openings in lower-tier cities have seen significant consumer engagement, indicating a growing demand for commercial spaces in these markets [14][15] Group 3: Competitive Landscape - Other competitors like Wuyue Plaza and Huazhu's Vanke are also targeting the lower-tier market, intensifying competition for consumer attention [20][22] - Wuyue Plaza has a similar market strategy to Wanda, often opening in proximity to Wanda Plazas, while also appealing to younger demographics with trendy brands [21][22] - The challenge for Wanda is to maintain its competitive edge in the lower-tier market as more players enter the space [22]
县城的万达广场，王健林才舍不得卖