Core Viewpoint - The ongoing legal dispute between Vanke and Wanda has resurfaced, centering around financial disagreements from their 2019 collaboration on the Changchun International Film City project, highlighting the liquidity pressures both companies are facing [2][3][4]. Group 1: Background of the Dispute - The lawsuit involves Hainan Wanjun Management Service Co., which is controlled by Vanke, against Wang Jianlin and Wanda Group, with a court hearing scheduled for November 3 [2]. - The financial dispute originated from a collaboration in 2019, where Wanda and Vanke agreed to invest in a film and tourism project, with Wanda responsible for the tourism sector and Vanke for residential development [4][5]. - Vanke had paid a total of 5 billion yuan to Wanda's subsidiary as part of their collaboration, but decided to terminate the partnership in June 2021 due to various reasons [5][6]. Group 2: Financial Details and Disagreements - Wanda has returned 5.24 billion yuan to Vanke, but disagreements remain regarding the settlement of the investment funds, leading to further financial disputes [6][9]. - Vanke's claim includes 1.38 billion yuan, with 1 billion yuan as principal and the rest as interest and penalties, while Wanda disputes this claim, arguing that they have already returned the principal and provided additional benefits [9][10]. - The differing calculations of the financial amounts involved have led to a significant gap in the parties' positions, complicating the resolution process [9][10]. Group 3: Implications and Industry Context - The freezing of Wanda's shares worth approximately 1.979 billion yuan has raised concerns about its impact on Wanda's upcoming REITs fund issuance [7][9]. - The dispute reflects broader challenges in the real estate industry, particularly during a period of deep adjustment, revealing potential risks in collaborative business models [12][13]. - The ongoing financial pressures on both companies, coupled with asset sales, have intensified the urgency for resolution, leading to a return to litigation [12][13].