你好，我们是凤凰网财经，全球华人都在看的财经公众号，传播最有价值的财经报道，你值得关注！欢 迎访问：http://finance.ifeng.com/ 以下文章来源于凤凰网财经 ，作者公司研究院 凤凰网财经 . 资产流血变现的万达，债务却如铁壁合围。 来源：凤凰网财经 核心提示： 1、日前，大连万达集团股份有限公司及其法定代表人王健林等被限制高消费。案件流程显 示，此前大连万达集团股份有限公司、万达地产集团有限公司等被强制执行1.86亿。 2、近年来，万达集团及其旗下公司面临较大的债务偿还压力，不断通过处置资产来回笼资 金。今年早些时候信息显示，大连万达商管旗下48家公司股权，将被太盟、高和丰德等机构组 成的联合体收购。据媒体不完全统计，最近两年多王健林已经卖超78座万达广场。 3、截至目前，大连万达集团被执行金额约142.93亿元，共计有57条股权冻结信息。王健林名 下42家公司，仅10家处于存续或者迁出状态，其余属吊销或者注销状态。 那个在镜头前教育年轻人"先定一个小目标，挣它一个亿"的王老板王健林，因为1.8个"小目 标"，被限制高消费了。 他曾在很多场合说起万达广场是自己的心头肉，"其他都可放手，唯独 ...

Core Insights - Dalian Wanda Group and its legal representative Wang Jianlin have been restricted from high consumption due to a forced execution amounting to 186 million [1][4] - The group has faced significant debt repayment pressure in recent years, leading to asset disposals to raise funds, including the sale of over 78 Wanda Plazas by Wang Jianlin [2][9] - As of now, the total amount executed against Dalian Wanda Group is approximately 14.293 billion, with 57 instances of equity freezing [1][14] Debt Pressure - The recent high consumption restriction is linked to a forced execution of 186 million, which is only a fraction of Wanda's overall debt situation [8] - The group's debt crisis traces back to its delisting from the Hong Kong stock market in 2016 and subsequent failed attempts to list on the A-share market, leading to a debt peak of nearly 300 billion in 2019 [8][17] - Legal actions against Wanda include a lawsuit from Yonghui Supermarket for 3.639 billion in equity transfer payments and a claim from Suning for 5.04 billion in buyback payments [8] Asset Disposal - To alleviate debt pressure, Wanda has been actively selling assets, including a recent deal where 48 companies under Wanda Commercial Management will be acquired by a consortium including Tencent and other firms [9][11] - The average sale price for the 48 Wanda Plazas is estimated at 1.04 billion each, significantly lower than previous valuations [12] - The company has been selling assets at steep discounts, exacerbated by market downturns and urgent cash needs [12][16] Financial Strain - Dalian Wanda Group has seen a significant increase in short-term borrowings, rising to 3.89 billion, a 190.47% increase year-on-year, and long-term borrowings reaching 106.461 billion [15] - The company faces a total current liability of approximately 91.42 billion, with a substantial portion due within a year [16] - The freezing of equity has severely limited Wanda's ability to leverage assets for financing, creating a vicious cycle of liquidity issues [14][16] Business Model Challenges - The high-leverage, asset-heavy business model that once propelled Wang Jianlin to success is now a liability as the real estate market declines [17][18] - The "sell to support rent" strategy relies on continuous sales and financing, both of which have been disrupted by market conditions [17] - The accumulated debt, based on optimistic market expectations, has become a significant burden as cash flow diminishes [18]